YC, OpenAI and the trough of disillusionment

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 29 September 2023

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

Here's what Mary Ann, Alex and Kirsten got into this week: The writer’s strike is over, and we have thoughts about its implications on AI. OpenAI is allowing some shareholders to sell stock, and the resulting valuation could be pretty darn high. Electric boat startup Arc has raised about $70 million? We aren’t about to drop the coin needed to buy one of those, but the idea is neat nevertheless. Alex wanted to talk about fluctuations in the venture and stock markets. Is the mini-tech recovery already fading after a dismal September? Mary Ann wanted to talk about YC. Kirsten broadened the conversation to include the role of accelerators in the startup world more generally. Are the vibes shifting? Finally, the tech labor market: As layoffs subside — though new cuts are still being announced — it may be a great time for startups to hire key talent. And before we go: check out the UpFlip Podcast where you get to unravel how great businesses are built, how they are run behind the scenes and how their success can be replicated. We think you'll love episode 79 where they featured this guest who transformed his passion for gardening into a $7.3 million-a-year venture. You can find the podcast on Youtube or wherever you listen to podcasts. 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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0:15.4	Hello and welcome back to Equity, a podcast about the business of startups where we unpack the numbers and the nuance behind the headlines. My name is Alex and I am
0:19.3	joined today as I am each and every Friday by my friend it's Marianne as a veto Marianne hi how are you
0:24.9	Alex I'm good I'm still incredibly heartbroken that I had to miss disrupt last week I don't know if I'll ever get over it but I am here and how excited at least to be here.
0:35.4	We missed you oh so much.
0:36.8	We did put on a live show in your absence, as I think people heard on the feed, but without
0:40.8	your presence it wasn't quite the same.
0:42.6	Although I will say we did have Kirsten on the live show and Kirsten's here and as we're piling on the
0:48.4	disrupt kind of like guilt and fomboe into Marianne.
0:51.0	Kirsten you got some goodies while you were in San Francisco.
0:53.9	Yeah, so while we were there during the Disrupt Madness,
0:57.7	we were also at our offices and in the midst of sort of cleaning out those offices to move,
1:05.6	it was like a free for all.
1:07.0	So there was everything you could possibly imagine,
1:10.4	including stuff on the walls.
1:12.2	So I decided to help myself,
1:14.4	because I was encouraged to, by the way,
1:16.8	this amazing piece of original art,
1:20.4	which there were actually two of these prints but I felt like it was too much to take both but it is an owl a like Russian doll doll, holding a smartphone.
1:35.2	And on that smartphone is the Twitter logo.
1:39.0	And it just felt a bizarre, but also
1:42.4	a vestige of the past since now Twitter is X and you know we don't have the cute little
1:48.1	bluebird anymore so I felt like I needed to have that just as a memorial if you will.
	...

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