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Equity

The petty shall inherit the pennies

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 10 April 2023

⏱️ 9 minutes

🧾️ Download transcript

Summary

Today, we are talking about crypto, Uber, and how to be petty at scale. Here's what Alex got into: Around the world of capital, we're most confused at certain bits of price stability in the cryptocurrency markets. It feels a bit faux, if that makes sense. Where prices are less steady is the world of YC startups, where, once again, there's complaints amongst venture investors about the valuations that some of the earliest-stage tech companies out there are commanding. Perhaps a greater discount given the state of the world was anticipated. Uber is selling part of Careem in a deal worth $400 million. Uber wants to do things on wheels. A super app company, at least in the Middle East, it is not. But it is about to have a huge new bankroll. The Musk v. Substack battle took up much weekend oxygen, showing that it is often hard to retain one's free speech bonafides when you just don't want to anymore. All that and there are new FTX docs! Huzzah! Let's have a good week, y'all. 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, 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

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0:00.0

Hello and welcome back to Equity, the Tech Runch Podcast, where we unpack the numbers and the new once behind

0:16.4

headlines.

0:17.4

This is our Monday show where we look back at the weekend and get you ready for the week.

0:21.8

This is Alex, it is April 10th,

0:23.4

2023 and I have put together a kick-ass show for you today.

0:27.3

What are we talking about?

0:28.2

Well, as always, we're gonna start with markets,

0:30.2

so stocks and crypto.

0:32.0

Then we're gonna discuss the latest complaints about YC pricing.

0:35.8

From there we're going to discuss Uber and Kareem

0:38.0

and why $400 million is in flight.

0:40.8

And then we shall discuss at the end of the show why the petty shall inherit the pennies.

0:45.1

Let's go.

0:48.1

Starting up today, taking a look at the global stock market, shares were mixed today in Asia up in Japan and South

0:54.8

Korea and down in mainland China. Over in Europe not a lot of trading going on

0:59.0

due to a holiday but here in the US where we don't observe this holiday but we did observe the last one

1:04.0

shares are set to fall at the open with tech leading the down draft.

1:08.0

Now a small note why haven't I bored you with notes lately on sAS, Multipals, and Public Market Tech Valuations?

1:15.6

Well, it's kind of because since last May to today, software stocks are pretty much flat.

1:21.0

And sure, that does imply that multiples are ticking lower over time, but the major and therefore

1:25.9

interesting price movements have stopped. So maybe this is the new normal, things might just

1:31.7

be like this for a while. And moving on from stocks what is going on in

...

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