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Equity

Seeing startups tackle the health of our planet is giving me life

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 24 October 2022

⏱️ 10 minutes

🧾️ Download transcript

Summary

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. We are back from Disrupt, which means we're picking up the pieces of our work lives, getting back on track. Equity is now on its regular schedule, which is good. A big thanks to the entire podcast production crew for making last week happen. Now! What did we get into this morning? The following: Stocks rallied around the world, but fell in China. Chinese equities suffered under investor pessimism at the cementing of Xi Jinping's authority over the country's economy. Elsewhere, hope that central bank policies would not carry as much teeth in the future as we have seen in recent months sent stocks higher. The finalists from the recent Startup Battlefield competition were all pretty freaking great, especially the focus that several had on making our home planet a bit cleaner, or better. Commercial solutions will be required for us to do any damn thing about the planet, so, here's to the companies working on it. Minerva Lithium wound up winning, which seemed legit given the sheer need we have as a people for lithium these days (it figures in battery production). Other points of conversation: No Instacart IPO coming, Yat Siu is still bullish on crypto games, and it is earnings season! Ok, chat soon! Equity drops at 7 a.m. PT every Monday and Wednesday, and at 6 a.m. PT on Fridays, so subscribe to us on Apple Podcasts, Overcast, Spotifyand all the casts. TechCrunch also has a great show on crypto, a show that interviews founders, one that details how our stories come together, 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

Click on a timestamp to play from that location

0:17.0

Hello and welcome back to Equity, the Tech Runge Podcast, where we unpacked the numbers and the nuance behind the headlines. It is October 24, 2022. Good morning, this is Alex, and my gosh, it is good to be home.

0:23.2

Yes, back in the home studio, back in the correct chair, all my cables plug into the right things,

0:28.6

ah, it's good to be back.

0:30.2

The bad news is that my body, during my two weeks on the West Coast fully adjusted to Pacific time.

0:36.2

And now that I'm back on the East Coast and got woken up at 6.50 by my dogs, that means I woke up at 350,

0:41.6

which means that I'm not ready to be a parent because I'm struggling this morning

0:45.0

But put all that aside there's a lot that went on last week there is a lot that happened over the weekend we have so much to chat through so put on your news cap and let's do it.

0:53.0

Let's start with a look at the world of money.

0:58.0

First up, stocks.

1:00.0

Shares rallied in Europe, they fell in China but largely rose in the rest of Asia, and they are up in pre-market

1:06.2

trading here in the United States.

1:09.0

What's going on?

1:10.0

A couple of things.

1:11.0

First up, Chinese shares are down in the wake of the Chinese Communist

1:14.3

parties every five-year event in which it reshuffles its leadership and reminds

1:18.4

Chinese citizens who is actually in charge. In the wake of that event Chinese tech stocks got destroyed today

1:24.7

with Tencent, Ali Baba and Baidu each down more than 10%. According to CNBC

1:29.7

each company reached a new 52-week low today.

1:33.0

What's going on?

1:34.0

Well, essentially, refreshed party leadership in China

1:36.6

appears set to allow current Premier

1:38.7

Xi Jinping to continue his efforts to remake the country's economy and society.

...

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