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Equity

Musk’s Grok goes open-source and Reddit updates its IPO filing

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 11 March 2024

⏱️ 12 minutes

🧾️ Download transcript

Summary

This is our Monday show, in which we take a look back at the weekend and what’s ahead in the week. Over the weekend, we dropped an interview with Roger Lee that is well worth your time, and here's our take on Reddit's IPO financials. Here's what we got into today: Crypto is taking flight, with bitcoin and ethereum notching big gains in recent days as the crypto winter fades to a fresh spring. Reddit dropped a new IPO filing, which includes a price range target of between $31 and $34 per share. That values the company as high as $6.4 billion. Musk intends to open-source Grok, the LLM that subscribers of X's most expensive tier have access to. The move comes after a recent debate regarding AI tech and how open it should be. Bobby Kotick wants to buy TikTok? Techstars' $80 million Advancing Cities Fund could be its first and last fund. In closing, Griffin Bank's $24 million Series A extension caught our eye, and we're reading Ron Miller's interview with Slack's new CEO. For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hello and welcome back to Equity, the Tech Runch Podcast, about the business of

0:15.6

startups where we unpack the numbers and the nuance behind the headlines.

0:20.0

This is Alex, good morning. Welcome to the Monday show. Today is March 11th, 2024, and you and I are going to take a look back at the weekend and a look at the week that is to come.

0:31.0

But speaking of the weekend, if you didn't know, we dropped an awesome interview

0:36.0

with Roger Lee of layoffs to FYI over the weekend. Mary Ann chatted with him about why startups

0:41.9

are shutting down so much right now and why so many more closed last year than we saw in

0:47.6

2022. Lee of course is an investor in Sunset

0:54.0

Sun set one of the two companies we profiled the other week that helps startups shut down. But on the show this morning we have stocks and

0:57.8

crypto news on Reddit's IPO, why Grock is going, open source, new troubles at Techstars and then a really neat new FinTech round let's go

1:10.4

Let's start with a look at the world of money and that means the stock market.

1:15.0

Over in Asia today, stocks are down sharply, especially in Japan.

1:20.0

They are lower in Europe and stocks are set to fall in the US at the open.

1:25.2

Now on the earnings front I only have a handful of names for you this week so let's talk through the list

1:31.5

on Monday, Oracle, and Asana.

1:34.0

Wednesday is UI Path and then Sentinel 1,

1:37.5

and Thursday will bring us Adobe, Smart Sheet,

1:40.4

Pager Duty, and Wibo. So yes, it's a quieter week, but one that should still be very interesting.

1:46.7

UI Path's report will include a healthy dose of AI. Sentinel One is amongst the fastest growing public software companies out there

1:54.8

and Adobe's earnings in a post-Figma deal world are very interesting.

1:59.6

So not that many names but hopefully a sheaf of juicy nuggets.

2:04.7

And then there was crypto.

2:06.7

If you have been living under a rock, I have an update for you.

...

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