Sheryl Sandberg, Substack and the art of still raising money for groceries

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 3 June 2022

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This was another live week from the Equity crew, meaning that the towering Mary Ann, the inimitable Natasha, and the somewhat fungible Alex were all chatting in real time, thanks to Grace and Julio having the script and tech in place to allow for it. And as we were live, we also wound up taking a little bit more time per story than usual, which was good fun. What did we get into? A lot: The end of an era: Sandberg steps down from Meta COO role. Deals of the Week: Affirm ties up with Stripe, Felt raises $15 million for maps, and Astro proves that quick grocery delivery is still a thing. A new fund is coming from an alum of Precursor Ventures, a firm that we have covered extensively on the podcast. The latest from Substack, a startup that we nearly all use, but wonder about from a valuations perspective. And we wrapped with notes from our recent spotlight on Columbus, Ohio! Equity is mostly off next week, meaning no Monday show, and some pre-taped stuff the rest of the week. We're going to breathe, and come back recharged. Hugs, and chat soon! 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, a podcast about the business of startups where we
0:16.0	unpack the numbers and the nuance behind the headlines. My name is Alex I'm
0:19.6	joined today by the full crew. We are live on this fine Thursday on hopping and
0:23.9	Twitter spaces and Marianne and Natasha there is a couple things that we have to get to
0:28.5	about 473 so the next 30 minutes should be absolutely relaxed, I think.
0:34.0	Yes, maybe a little bit, we'll see.
0:37.0	We have funding rounds to Tasha, Marianne, we got Breaking News,
0:41.0	we got to talk about Sub-Stack.
0:42.0	It's going to be a pretty packed episode.
0:44.4	I think let's go ahead and start with the most important news that's going on, which is that after a
0:48.0	super long tenure, Natasha, Cheryl Sandberg is stepping down, as CEO of Facebook,
0:52.6	ending essentially what feels like a leadership duopoly
0:55.4	atop the world's largest social network.
0:57.8	Oh my God, yeah, this is the kind of headline
1:00.2	that you rarely expect to see.
1:02.0	Maybe given the amount of people that have been leaving
1:04.0	Meta from the executive suite over the past year, we could have somewhat expected it. But someone like
1:08.7	Cheryl Sandberg is so synonymous with Meta, formerly known as Facebook at this point, that I was shocked to see this.
1:15.2	And obviously she is historic for so many reasons. She became the board's first female member when she joined in 2012.
1:20.8	Steared the company through IPO, growth, controversy, and you kind of just said,
1:24.8	she's Zuckerberg's second hand in command.
1:27.7	And so for her to depart and soon be replaced
	...

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