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Equity

See? Fintech isn’t doomed, it just needs more time

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 16 January 2024

⏱️ 10 minutes

🧾️ Download transcript

Summary

Here's what we got into: Stocks are down around the world to start a week that only features a single key earnings report, TSMC this Thursday. Next week really starts the tech reporting deluge, so get ready. In crypto, bitcoin's price failed to pump after its ETF products launched, which surprised some. Also surprising was the value jump that the Ethereum blockchain offers. Buy the rumor, sell the news? (Elsewhere, a crypto exchange raised around $100 million. In 2024! Who would have expected that!) Uber is killing Drizly: You can still get booze delivered to your house, but Axios notes that the $1.1 billion acquisition by Uber has run its course. Pour one out. On the deal front, Spot Technologies raised $2 million, while TechCrunch reports that Kuda raised $20 million last year at a flat valuation. That's pretty solid a result for a fintech startup that last raised in 2021. To close out, Apple is the world's smartphone king and has found a way to sell its Watch product sans legal issues, while Microsoft is very busy with AI. 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

0:14.7

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

0:18.4

This is Alex Good Morning. It's January 16th, 2024 and from from where I'm sitting, it's still snowing.

0:24.5

So if you're in a warmer part of the world,

0:26.5

congratulations, I'm jealous.

0:28.5

Anyways, the show today shall be hot because we are going to start with stocks and

0:32.0

crypto.

0:32.6

Then we have startup news including a shutdown, a $2 million seed raise,

0:37.0

and a little bit about FinTech.

0:38.9

Then there's a new king of smartphone sales and a shrinking market, and then AI hardware, it turns out, is a big hit.

0:46.2

Let's go.

0:49.7

Let's start with the world of money, and that means the stock market. If you spend the globe

0:53.8

shares are lower over in Asia today and they are also lower in Europe this morning.

0:58.7

The Redink persists to the United States where stocks are set to fall in pre-market trading.

1:03.7

Again, it's a short week, keep that in mind, but still we can do a lot of damage in four trading days.

1:09.1

Now, on the earnings front, there is only one company you need to know of this week and that is the Taiwan

1:15.4

semiconductor manufacturing company. Better known as T.S.M.C. It will drop its Q4 numbers this

1:21.7

Thursday.

1:22.8

Now, we already got its partial December results,

1:25.3

so I doubt that there's going to be big shocks

1:27.0

in these earnings, but guidance could be pretty interesting

1:30.1

if chips are your thing.

...

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