Equity

Ten years ago, raising €1 million in Copenhagen was enough to make waves in the region’s tech scene. Today, the Nordics are turning out billion-dollar companies like Lovable — which hit $200M in revenue just 12 months after launching. Dennis Green-Lieber, founder of AI-powered customer intelligence platform Propane, has had a front-row seat to that shift over the last 15 years. His take? The region's social safety net gives founders room to take real swings without putting their personal lives on the line, and they're accelerating faster than Silicon Valley as a result. Today on TechCrunch's Equity podcast, Dominic-Madori Davis caught up with Green-Lieber to talk about the Nordic startup ecosystem, from its collaborative culture to its deep tech future. Listen to the full episode to hear about: How Danish founders can access free quantum computing power and what that means for the region's deep tech ambitions Why the cultural shift from "don't stick your neck out" is creating a new generation of globally ambitious founders The hidden problem AI tools are creating for startups that can now ship products in days instead of months Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

AI companies are spending so much on infrastructure that Nvidia's data center business now brings in nearly $50 billion. But is this sustainable growth or just the latest tech mania? And should we even be calling it a "bubble" when the belief in AI's future is what's holding the whole ecosystem together? This week on Equity, Kirsten Korosec, Anthony Ha, and Sean O'Kane dig into Nvidia's massive earnings beat, the circular economy of AI infrastructure spending, and whether Jensen Huang's optimistic vision of AI agents handling everything in our daily lives can justify the investment. Listen to the full episode to hear about: Jeff Bezos newest venture, an AI startup called Project Prometheus. Suno's $2.5 billion valuation and $200 million raise despite facing lawsuits from three major music labels and what it says about investor confidence in AI music Waymo's expansion to new cities and approval to hit the freeways. As well as updates on Zoox and Tesla. Nvidia's 62% year-over-year revenue growth hitting $57 billion, and why their data center dominance makes them uniquely positioned in the AI ecosystem Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

While everyone's chasing the next AI infrastructure play in San Francisco, some of the most defensible AI companies are being built by founders with deep expertise in legacy industries — and they're not getting funded. January Ventures aims to fill that gap, writing pre-seed checks for underrepresented founders transforming healthcare, manufacturing, and supply chain with AI. At TechCrunch Disrupt 2025, Dominic-Madori Davis sat down with Jennifer Neundorfer, Co-Founder and General Partner at January Ventures, for a live episode of Equity. The pair dug into how early-stage investing is changing in the age of AI and why building different networks matters. Listen to the full episode to hear about: How AI is enabling pre-seed founders to do far more with less capital, and what that means for proof points at the earliest stages Why January looks for founders building for where the technology is going, not where it is today, and how market expertise is becoming a critical moat The state of funding for underrepresented founders in 2024, why progress has stalled despite increased awareness, and where the real opportunities lie Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

TechCrunch has new podcast! Build Mode brings you candid startup wisdom from the people who build, break, and build again. Build Mode is hosted by our very own Startup Battlefield Editor, Isabelle Johannessen who is joined by founders, investors, and operators to dig into the uncomfortable truths about startup life. Think cap table drama, co-founder breakups, and pivot panic.We're sharing their first episode with Forethought AI co-founder, Deon Nicholas as a weekend bonus to your feed. He shares how he built a company that puts customers (not hype) at the center and unpacks his “7-Failure Rule,” the early experiments that shaped Forethought’s success. Episodes of Build Mode drop every Thursday, and you can subscribe now on Apple Podcasts, Spotify, or wherever you get your podcasts. And be sure to check out the video version on TechCrunch’s YouTube. Learn more about your ad choices. Visit megaphone.fm/adchoices

A new report from the International Energy Agency (IEA) shows that $580 billion will be spent globally on AI data centers in 2025 alone. This is $40 billion more than will be spent on new oil supplies — leading us to conclude that data centers are the new oil fields. But is this a net positive for the environment or just a different kind of resource drain? On TechCrunch's Equity podcast, Kirsten Korosec, Anthony Ha, and Rebecca Bellan dig into what this spending shift means for the energy grid, climate tech, and whether taxpayers should be footing the bill for Big Tech's infrastructure ambitions. Listen to the full episode to hear about: The anti-AI disclaimer at the end of Pluribus Israeli AI agent startup Wonderful's massive $100 million Series A, and why customer service might be the killer app for AI agents Swedish autonomous vehicle company Einride's SPAC deal — yes, SPACs are back — and whether its electric truck business can carry the autonomous pod dream Why OpenAI's CFO walked back comments about government "backstops" for data center loans, and what the company is actually asking for from the CHIPS Act The rise of government spyware targeting journalists and activists, and why mobile phone design makes it nearly impossible to detect How China-backed hacking groups like Salt Typhoon are "pre-positioning for sabotage" in critical infrastructure worldwide Disclaimer: This podcast was (also) made by humans Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Many see OpenAI as the ChatGPT company while rivals like Anthropic and Cohere eye the enterprise space. Marc Manara, OpenAI's head of startups, says the reality looks different: AI-native companies are hitting $200 million in ARR, and product cycles have shrunk from two-week sprints to single days. Today on TechCrunch's Equity podcast, Russell Brandom sat down with Manara at TechCrunch Disrupt 2025 to explore how OpenAI is serving the startups building on its platform. Listen to the full episode to hear about: The shift from two-week sprints to one-day development cycles, and what that means for how startups should structure their engineering teams Why some startups are customizing models for specific tasks in healthcare, finance, and other verticals that seemed out of reach Where AI still hasn't fully integrated with companies, and why longer-horizon autonomous tasks remain the next frontier for both models and startups Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

SoftBank and OpenAI announced a new 50-50 joint venture this week to sell enterprise AI tools in Japan under the brand "Crystal Intelligence." On paper, it's a straightforward international expansion deal. But SoftBank’s role as a major investor in OpenAI is raising questions about whether AI's biggest deals are creating real economic value or just moving money in circles. On TechCrunch's Equity podcast, Kirsten Korosec, Anthony Ha and AI editor Russell Brandom break down why this deal has people skeptical, and what it signals about the sustainability of AI's current investment model. Listen to the full episode to hear about: Andreessen Horowitz’s move to shut down its Talent x Opportunity fund, and the Equity crew’s take on the firm's explanation What former FTC chair Lina Khan’s role in NYC mayor-elect Zohran Mamdani's transition team could mean for Big Tech, ride-hailing, and AVs What Box CEO Aaron Levie had to say about whether we're in an AI bubble at TechCrunch Disrupt 2025, and why the shift from training to inference might actually be reassuring Beta Technologies' successful $1B IPO and what it signals about the thawing public market — even though massive M&A deals are still going through Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Even Rogers spent a decade as an Air Force weapons officer watching China and Russia build space weapons while the U.S. had "nothing in our arsenal." So he left the military to solve the problem himself. Now, as co-founder and CEO of True Anomaly, he's building the first exclusively defense-focused space superiority company, developing autonomous spacecraft, sensors, and software designed specifically for military engagements in orbit. With $418 million raised and a growing team, Rogers is racing to field capabilities the Space Force desperately needs. Today on TechCrunch's Equity podcast, Rebecca Bellan sat down with Rogers to explore the emerging business of space defense and why the U.S. is playing catch-up. Listen to the full episode to hear about: How the space industry has shifted away from a service domain as threats in space evolve, and what other countries are already deploying. The biggest bottleneck slowing down space defense development. How True Anomaly's "Jackal" spacecraft is designed to evolve from surveillance to multi-role missions. Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Equity crew was live at TechCrunch Disrupt 2025! Hosts Kirsten Korosec, Max Zeff, and Anthony Ha took over the Builders Stage on Monday morning to kick off the event with the question everyone's asking: are we in an AI bubble? Between valuations that have tripled in months, $300M seed rounds, and $100B commitments flying around, the money is moving fast — maybe too fast. The Equity team breaks down what peak bubble looks like, where the actual business models are (spoiler: a lot of companies are betting on AI datacenters), and why some founders are betting against the scaling race entirely. Listen to the full episode to hear: Why this feels like peak bubble territory, and what the wildest funding rounds of the past month tell us about where AI is headed How the AI data center boom is reshaping infrastructure investing, and which unexpected players are getting in on the action Why Cohere's former AI research lead is going against the grain and betting against the scaling race What happens when a startup's viral demo becomes its entire business model (and whether that's sustainable) Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

After a small startup exit and being turned down by every VC firm he applied to, Tim Chen began angel investing and eventually stumbled into raising his own fund. Now, as the solo investor behind Essence VC, he just closed his fourth fund at $41 million "without even trying." Chen's secret weapon? Being technical enough to debate PhD founders on implementation details while understanding the market dynamics that turn scrappy startups into category leaders. Today on TechCrunch's Equity podcast, Julie Bort sat down with Tim Chen to explore the rise of solo VCs and who's rewriting the traditional venture playbook. Listen to the full episode to hear about: Why the YC playbook of "revenue at all costs" doesn't work for infrastructure startups, and what Chen tells technical founders to focus on instead The strategic pivot Chen pushed one portfolio company to make that completely changed their trajectory What being a "small exit founder" taught Chen about venture capital, and why he thinks the industry has it backwards Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

The browser wars are heating up again, this time with AI in the driver’s seat. OpenAI just launched Atlas, a ChatGPT-powered browser that lets users surf the web using natural language and even includes an “agent mode” that can complete tasks autonomously. It’s one of the biggest browser launches in recent memory, but it's debuting with an unsolved security flaw that could expose passwords, emails, and sensitive data. On TechCrunch's Equity podcast, Max Zeff, Anthony Ha and Sean O’Kane break down Atlas’s debut, the broader wave of alternative browsers, and more of the week’s startup and tech news. Listen to the full episode to hear about: Why Rivian spinoff Also just landed a massive deal with Amazon for thousands of pedal-assist cargo vehicles (and why the name is a nightmare to say in conversation) How Sesame, the conversational AI startup from Oculus founders, raised $250M for a product that doesn't really exist yet The AWS outage that broke much of the web, turned Eight Sleep mattresses into temperature nightmares, and exposed just how fragile the internet really is The alternative browsers that either embrace or push back against AI-everything, from privacy-focused options like DuckDuckGo and Brave to "mindful" browsers like Opera Air Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ever wonder if you’re talking to a real person online or just another bot? As bots increasingly outnumber humans online, leading to an explosion of deepfakes and AI-driven fraud, one company has a solution straight out of sci-fi: scanning your iris to verify your identity. Today on TechCrunch's Equity podcast, Rebecca Bellan spoke with Adrian Ludwig, Chief Security Officer and Chief Architect at Tools for Humanity, the company behind World’s eye-scanning Orbs appearing around the globe. Bellan and Ludwig discuss building privacy-first identity verification, the open-source approach to biometric tech, and why proving humanity matters now more than ever. Listen to the full episode to hear: How zero-knowledge proofs verify that you're over 18 (or human) without revealing your location, browsing history, or other identifying information. Why Tools for Humanity open-sourced the entire Orb — from hardware to firmware and software. How Match Group, Event Pop, and other major platforms are partnering up to combat bot abuse. Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Silicon Valley’s rule? It’s not cool to be cautious. As OpenAI removes guardrails and VCs criticize companies like Anthropic for supporting AI safety regulations, it’s becoming clearer who the industry thinks should shape AI development. On this episode of Equity, Kirsten Korosec, Anthony Ha, and Max Zeff discuss how the line between innovation and responsibility is getting blurrier, plus what happens when pranks go from digital to physical. Listen to the full episode to hear about: The real-world DDoS attack that blocked Waymo service for a day near a dead-end San Francisco street Goldman Sachs acquiring Industry Ventures for up to $965 million, signaling Wall Street's growing interest in the secondary venture market FleetWorks' $17 million Series A to modernize trucking with AI Why advocating for AI safety has become "uncool" in Silicon Valley from Anthropic facing backlash to California's SB 243 regulation of AI companion chatbots and the success of companies like Character.AI Which startups are using an SEC workaround to file for IPOs during the shutdown Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Can performance-enhancing drugs push the limits of human potential? The creators of the Enhanced Games say yes — and they’re building a new sporting event to prove it. Backed by Peter Thiel and Donald Trump Jr.’s 1789 Capital, the Enhanced Games aims to disrupt the Olympics with a competition that allows athletes to dope. Launching in Las Vegas in May 2026, the games promise $1 million bounties for breaking world records and lean on a business model reminiscent of Red Bull’s, using the spectacle as marketing for future enhancement products. Today on TechCrunch's Equity podcast, Rebecca Bellan spoke with Aron D'Souza, co-founder and President of the Enhanced Games, about the business of enhancement, what it means to build in the longevity space, and who gets to do it. Listen to the full episode to hear: How the venture has raised "double-digit millions" and signed Olympic silver medalist Fred Kerley, whom D'Souza believes will break Usain Bolt's 100m record at age 31. Why D'Souza believes Olympic drug testing has stunted performance enhancement research, and how allowing enhancements in sports could drive longevity breakthroughs. Enhanced's plan to build a telehealth platform selling testosterone and weight-loss drugs (which have yet to be developed). The societal, economic, and ethical implications of extending human longevity. Subscribe to Equity on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

AI companies are making their much-anticipated enterprise plays, but the results are wildly inconsistent. Just this week, Deloitte announced it's rolling out Anthropic's Claude to all 500,000 employees. On the very same day, the Australian government forced Deloitte to refund a contract because their AI-generated report was riddled with fake citations. It's a perfect snapshot of where we are: companies racing to adopt AI tools before they've figured out how to use them responsibly. On this episode of Equity, Kirsten Korosec, Anthony Ha, and Sean O'Kane dig into the messy reality of AI in the workplace, plus funding news and regulatory drama across tech and transportation. Listen to the full episode to hear more news from the week, including: AltStore's $6 million raise and its plan to integrate with the Fediverse, making app updates part of your social feed Base Power's massive $1 billion Series C to deploy home batteries across Texas and beyond NHTSA's investigation into Tesla FSD after 50+ traffic violations, plus the new "cheaper" models that strip out Autopilot and basic features Zendesk's claim that its new AI agents can handle 80% of customer service tickets autonomously, and what happens in the other 20% Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Trump administration recently announced a massive change to the H-1B visa program, raising the application fee from $2,000-$5,000 to $100,000 per visa. The change has sent shockwaves through the startup world, with founders warning it could price them out of hiring international talent and undermine U.S. innovation. Today on TechCrunch's Equity podcast, Dominic-Madori Davis was joined by Jeremy Neufeld, the Director of Immigration Policy at the Institute for Progress, to break down what this H-1B change means for startups, founders, and the future of tech talent in America. Listen to the full episode to hear about: The massive loophole that lets 80% of H-1B applicants skip the $100,000 fee entirely Why the new wage system could give more visa slots to experienced acupuncturists than fresh AI PhD grads making $200K Why universities and national labs are stuck in limbo, knowing they have to pay but not knowing how Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. government shutdown that began this week is the first in seven years. While it might not feel immediately disruptive, for startups waiting on permits, visas, or regulatory approvals, even a few weeks can become an existential problem. On this episode of Equity, Kirsten Korosec, Anthony Ha, and Max Zeff talk through how uncertainty is affecting startups in ways people might not realize, plus the messy reality of AI companies still trying to figure out sustainable business models. Listen to the full episode to hear about: OpenAI’s launch of the Sora app, its TikTok-style feed of AI-generated content, and whether people actually want to pay for an endless stream of synthetic videos How AI-generated actress Tilly Norwood is proving that even fake performers can cause real industry drama Periodic Labs’ $300 million seed round from Andreessen Horowitz, Jeff Bezos, and Nvidia to build AI scientists and discover new physics The US government taking equity stakes in companies like Lithium Americas, MP Materials, and Intel, is raising questions about what happens when Washington steps in as a shareholder Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

California just made history as the first state to require AI safety transparency from the biggest labs in the industry. Governor Newsom signed SB 53 into law this week, mandating that AI giants like OpenAI and Anthropic disclose, and stick to, their safety protocols. The decision is already sparking debate about whether other states will follow suit. Adam Billen, vice president of public policy at Encode AI, joined Equity to break down what this new law actually means and why it managed to pass its predecessor SB 1047 incurred so much ire from tech companies that Newsom ended up vetoing it last year. Listen to the full episode to hear about: What "transparency without liability" means in practice, and whether it's enough to ensure safe AI is released to the masses. Whistleblower protections and critical safety incident reporting requirements. What's still on Newsom's desk, including regulation on AI companion chatbots. Why SB 53 is an example of light-touch state policy that doesn't hinder AI progress. The battle for federalism amid moves to take away states’ rights to enact AI regulation. Equity will be back Friday with our weekly news roundup, so don’t miss it. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

From $100 billion OpenAI commitments to $100,000 visa fees, this week showed just how much the tech landscape is shifting. On the latest episode of Equity, Anthony Ha and Max Zeff unpack the AI infrastructure gold rush and tech's talent shuffle. Listen to the full episode to hear about: TikTok’s potential new home, and why Oracle is positioned to win big from the deal Oura Health's reported $875M raise at an $11B valuation and what it means for health tech Nvidia's $500M investment in UK self-driving startup Wayve and Jensen Huang's billion-dollar UK commitment The massive data center deals driving OpenAI's expansion, from Nvidia's $100B commitment to Oracle's $15B bond sale Trump's new $100K H-1B visa fee increase that had Amazon, Google, and Microsoft advising workers to stay in the US Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Medical device funding is hitting levels we haven't seen since 2021, with investors pouring billions into diagnostics and imaging companies. But while innovation has raced ahead, a fundamental problem still hasn't changed: critical medical hardware like MRI machines cost millions of dollars and are gatekept by large hospitals. So how do you take one of the most expensive, hospital-bound technologies and make it available anywhere? Evan Kervella, founder and CEO of Paris-based startup Chipiron, joined Equity to walk us through the problem and his vision for solving it. Listen to the full episode to hear about: The unscalable nature of traditional MRI machines that rely on superconducting magnets and liquid helium. How Chipiron is building installation ease and patient experience into its scaling mission. Why Chipiron’s lightweight MRI technology isn’t designed to compete with old school machines. Longevity movement backers. Why it’s okay to chase M&A as an exit strategy, especially in the medical industry. Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week on Equity, Anthony Ha, Kirsten Korosec, and Max Zeff unpack the biggest moves in AI, robotics, and regulation. Listen to the full episode to hear about: Meta Connect's AR/AI vision and neural wristband control (plus the demos that didn't go as planned) Jack Altman's rapid $275M fundraise and the Altman brothers' expanding Silicon Valley influence The Waymo-Lyft partnership bringing robotaxis to Nashville and the hunt for profitable AV models California's new AI safety legislation and what it means for Big Tech Why investors may soon call this the "golden age of robotics" Equity will be back next week. Subscribe wherever you get your podcasts! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Europe's startup scene is having a moment, with European unicorns multiplying and American VCs setting up shop across the pond. But while European funding dominates the early stages, late-stage capital still flows primarily from the U.S. So what does this mean for European founders, and how is the continent carving out its own identity in an increasingly AI-driven world? Today on Equity, we were joined by Shamillah Bankiya, newly appointed Partner at Dawn Capital, to talk through it all. She and Dominic-Madori Davis discuss AI's impact on European startups, the regulatory landscape, and her journey from Uganda to venture capital. Listen to the full episode to hear about: Why European companies still IPO in the U.S. and what needs to change Bankiya’s marketplace startup and lessons for founders Whether businesses actually need venture funding (spoiler: not all do) Why American investors are suddenly flocking to Europe The EU AI Act and its real impact on startups Talent retention challenges and which founders are choosing to stay in Europe versus relocating to Silicon Valley Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Leading AI labs like OpenAI and Google DeepMind cut ties with Scale AI after Meta invested $14 billion in the data vendor and hired its CEO. But AI labs still need data — leaving an opening for other startups that can supply it. The key players and factors in the AI data market are changing. Lately, it seems like Mercor — an AI hiring platform that sells data services to AI labs — may be one of the biggest benefactors of this shift. Today on Equity, Kirsten Korosec, Anthony Ha, Max Zeff dive deeper into how the AI data market is changing, check in on startups that recently went public and share their takes on the divisive orange iPhone. Listen to the full episode to hear about: Bending Spoons’ ⁠acquisition of Vimeo for $1.38 billion⁠, and what it means for the video industry. Why SpaceX is making a $17 billion bet on the direct-to-cell market, and what it all has to do with Apple. The long awaited IPO of Klarna, why it popped, and how other newly public companies like Figma and Coreweave are doing. Mercor’s new fundraising talks, and what’s going on the AI data space more broadly. Equity will be back next week. Subscribe wherever you get your podcasts! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

As AI evolves at breakneck speed, attackers are evolving right alongside it. Vibe coding, AI agents, and prompt-based attacks are opening enterprises up to new vulnerabilities daily. The pressure is on for cybersecurity tools to keep pace, and startups are seizing the moment. Few have grown as rapidly as Wiz, which Google is acquiring for $32 billion in its largest-ever purchase. On today's episode of Equity, Wiz co-founder and chief technologist Ami Luttwak joined Rebecca Bellan to discuss how AI is fundamentally reshaping cybersecurity threats, from supply chain attacks that leverage vibe coding to hackers targeting the AI agents that developers rely on daily. His message is clear: while AI tools help developers build faster, they're also creating more vulnerable code by default, and attackers are already exploiting these weaknesses at scale. Listen to the full episode to hear: Why recent attacks affecting thousands of companies show AI security threats are here now How vibe coding creates less secure applications and what developers can do about it Why even a five-person AI startup needs a CISO from day one to win enterprise customers How AI startups can access customer data without compromising security Where Luttwak sees the biggest opportunities for innovation across the cybersecurity landscape Equity will be back Friday, with our weekly news roundup. Talk then! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Google just dodged a Chrome breakup bullet, but the biggest twist? The federal judge bought the idea that AI rivals could keep the tech giant in check, even as new competitors gain ground. From Atlassian’s $610 million bet on The Browser Company to OpenAI’s latest maneuvers, the competition for how we navigate the web is just getting started. Today on Equity, Max Zeff and Anthony Ha break down the week’s biggest moves and how AI is fracturing the search monopoly while reshaping how we browse the web and invest in its future. Listen to the full episode to hear about: What Atlassian's $610M Browser Company deal signals about the shift from consumer to enterprise AI browsers OpenAI's $1.1B StatSig acquisition and ex-Facebook executive hiring spree The return of Klarna's $1.2B IPO plans, and whether the fintech market is finally heating back up The new online safety laws raising privacy concerns and hurting companies that comply The mystery customers making up nearly 40% of Nvidia’s revenue Equity will be back next week. Subscribe wherever you get your podcasts! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Karen Hao, the bestselling author of "Empire of AI," has watched OpenAI go from a nonprofit “laughingstock” into a $90 billion powerhouse chasing artificial general intelligence at breakneck speeds. Hao, who first profiled the company back in 2020, says early visions of building AI “for humanity’s benefit” were quickly overtaken by a familiar Silicon Valley mindset: Move fast, break things, and let scale be the measure of success. This week, Hao joined TechCrunch’s Equity podcast to unpack the direction the AI boom is going and who’s paying the price. Hao argues that, like historical empires, today’s AI giants rely on resource-hoarding and exploitative labor to amass political and economic power, and they’re doing so at the expense of the environment. For investors and founders, it’s a clear signal that AI’s current path carries real risks, and that there’s room to build a better model. Listen to the full episode to hear: How OpenAI's three internal "clans" warred to shape the company's trajectory The hidden human costs of data labeling in developing countries How the "China competition" narrative serves Silicon Valley's interests Where founders might find different opportunities beyond the pursuit of AGI Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Nvidia reported another massive quarter this week with $46.7 billion in revenue, a 56% year-over-year increase driven almost entirely by AI demand. But despite CEO Jensen Huang's bold prediction of $3 to 4 trillion in global AI infrastructure spending in the next five years, the stock slid as investors questioned how long this kind of growth can last. Today on Equity, Kirsten Korosec, Max Zeff, and Anthony Ha dive into Nvidia's earnings and what the market's response reveals about investor confidence in the AI boom's longevity. Listen to the full episode to hear: Who made the cut for the 2025 Startup Battlefield 200, and how Equity’s hitting the stage at this year’s TechCrunch Disrupt OpenAI and Anthropic's rare AI safety testing collaboration, despite recent moves to cut each other off from their APIs RoboMart's new autonomous delivery robot, which could challenge Uber Eats with $3 flat fees Why the US government's potential 10% stake in Intel might not be the salvation the chipmaker needs How venture capital firms like a16z are flooding Washington, D.C. with lobbying dollars, outspending entire industry groups As always, Equity will be back for you next week, so don't miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Steve Jobs once said, “Everything’s a remix.” And that’s a philosophy that Mark Cuban has taken to heart, building an entire entrepreneurial and investment career on that simple belief. The real opportunity, Cuban says, lies in spotting patterns others miss and turning them into billion-dollar disruptions. On today's episode of Equity, Cuban joined Rebecca Bellan to discuss his decades-long strategy of betting on technologies before they go mainstream, from his early investments in local area networks and streaming services to his current healthcare and AI ventures. But Cuban's real insight isn't just about picking winners. It's about understanding why most people building in AI today are missing the point entirely. Cuban delivered a stark warning about the current AI gold rush: while everyone's using ChatGPT, almost no one (including Fortune 500 CEOs) knows how to integrate AI into their actual businesses. His take? Forget the hype. The real money is in helping small- and medium-sized businesses figure out how to use the AI tools that already exist. Listen to the full episode to hear: How Cuban identified disruptive opportunities in LANs, streaming, and HD television before they became obvious. Why he thinks current AI "isn't smart," and why that limitation could be its strength as a business tool. The upcoming regulatory battles that will determine AI's future around IP protection, training data access, and the U.S.-China competition. Inside Cuban's latest venture, Cost Plus Drugs, expanding from transparent pricing to manufacturing. Cuban's prediction that AI-savvy graduates will become the most in-demand employees across every industry. As always, Equity will be back Friday. Don’t miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today’s episode of the Equity podcast, your hosts Kirsten Korosec, Max Zeff, and Anthony Ha try to understand why Labubu has become so popular and what it says about the collapsing divide between the internet and the real world. Are Labubus more than just the latest iteration of ‘90s Beanie Babies? And listen to the full episode to hear more about: Google’s cringey, celebrity-filled Pixel event Self-driving startup Nuro’s $203 million Series A, with Nvidia joining as an investor OpenAI’s attempt to woo the media after a rocky launch for GPT-5 A fresh $1 billion funding for AI startup Databricks Why VCs are excited about robotic startups like FieldAI As always, Equity will be back for you next week, so don’t miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

During the SaaS crash of 2022, SecurityPal founder Pukar Hamal was just 14 months from running out of money. Rather than raise another round, he chose to restructure and focus on profitability — and he hasn't raised since his $21M Series A in 2021. On today's episode of Equity, Hamal chatted with Julie Bort about what he calls "nuanced capital," a strategy focused on achieving cash flow positivity and sustainable growth rather than chasing the next big round. His approach challenges the conventional wisdom that AI companies need constant capital injections to compete, proving that even in competitive markets, there's an alternative path. Listen to the full episode to hear: Why Hamal chose restructuring over raising more capital during the 2022 downturn How SecurityPal achieved cash flow positivity while competitors burned through funding The "Silicon Peaks" vision: building a startup ecosystem in Kathmandu, Nepal Whether AI founders get trapped thinking they need constant VC funding Why "nuanced capital" might be a better long-term strategy than traditional fundraising Equity will be back Friday, so don’t miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Perplexity, the AI search startup that hasn't even cracked 100 million monthly users, just made a $34.5 billion cash offer to buy Chrome from Google. The unsolicited bid comes as the DOJ prepares its remedy decision after ruling Google illegally maintained a search monopoly. The timing makes sense, but questions remain. Perplexity won't name its backers for the massive deal, and the offer is worth far more than the company has raised. On ⁠Equity⁠, we're revisiting a conversation with ⁠Neil Chilson⁠, a lawyer, computer scientist and head of AI Policy at the Abundance Institute, to unpack what’s at stake for Google in its search and ad tech battles, and how generative AI could reshape competition in the space. As always, Equity will be back for you next week, so don’t miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Women are making real progress in venture capital, according to a new report from the nonprofit All Raise. The percentage of women and nonbinary partners at top firms has doubled in recent years, even as the market cooled. On this week’s Equity, All Raise CEO Paige Hendrix Buckner joins TechCrunch’s Dominic-Madori Davis to unpack what’s driving that momentum, and where the industry is still falling short. Pay gaps persist, and the largest firms still have few women in senior partner roles, but there are signs of meaningful change ahead. Listen to the full episode to hear: How investors are responding to the current DEI backlash The impact that women starting their own firms are having on the industry What progress All Raise hopes to see in the next five years Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

OpenAI is making a serious play for the federal government. The company just announced a deal that gives U.S. agencies access to ChatGPT Enterprise for just $1 per year. Yes, really. It’s part of a new “blanket purchase agreement” aimed at getting OpenAI’s tools into federal departments fast and a clear sign the company wants to lock down the public sector before anyone else can. The move is aggressive, strategic, and could shape how generative AI gets deployed across everything from admin work to national security. It also puts serious pressure on rivals like Anthropic, Google, and Amazon to figure out their own government strategy, and fast. Today on TechCrunch’s Equity podcast, Kirsten Korosec is joined by guest hosts Rebecca Bellan and Sean O’Kane to break down what OpenAI’s bold government push means for the broader AI landscape, data privacy and model access in federal settings, and how this all connects to OpenAI’s longer-term roadmap — including what we know so far about GPT-5. Listen to the full episode to hear more about: Tesla’s board re-ups Elon Musk’s $29 billion stock package, and what happens if that $56B pay plan comes back from the dead How Joby Aviation’s acquisition of Blade is an infrastructure play Why Vogue’s AI-generated Guess ad is sparking a backlash in the fashion world Post-acquisition whiplash as Cognition lays off staff just three weeks after buying rival AI startup Windsurf As always, Equity will be back for you next week, so don’t miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Figma managed something rare in today's market: it stayed independent, survived a failed Adobe acquisition, and went public on its own terms. But its post-IPO performance tells a more complex story about startup exits in 2025. Jai Das, President and Partner at Sapphire Ventures, joined Rebecca Bellan on Equity to discuss what Figma's IPO really signals about the current climate for startup exits. With more than a dozen IPOs under his belt including MuleSoft, Square, and Box, Das broke down Figma's debut, which was 40x oversubscribed and briefly surged to $125 per share before settling closer to $90. Listen to the full episode to hear: What Figma's post-IPO stock movement signals to the rest of the market Why AI exits today focus more on talent than tech and whether that's sustainable Where Jai sees early promise beyond AI, from defense tech to SpaceTech and crypto infrastructure Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

Meta is still going all-in on the AI talent war, with Mark Zuckerberg reportedly reaching out to top recruits himself, throwing around jaw-dropping compensation packages that top $1 billion over multiple years. And Meta’s latest target? Mira Murati's new startup, Thinking Machines Lab. It's a bold play in an already overheated market. While Zuck eyes new talent, Anthropic is preparing to raise a massive round of its own at a staggering $170 billion valuation, nearly tripling its worth in just months. On paper, it looks like the AI cash floodgates are wide open. But all this endless money raises some serious questions about sustainability. On today's episode of Equity, Kirsten Korosec, Anthony Ha, and Max Zeff unpack the reality behind these eye-popping figures. With compensation packages skyrocketing and funding rounds swelling, how long can this race actually last? Listen to the full episode to hear more about: Figma’s IPO, which is massively oversubscribed ahead of its NYSE debut Ramp’s rapid rise to a $22.5 billion valuation in just 45 days Why the Pentagon’s Golden Dome defense program may not be the big break startups are hoping for The escalating AI chip race, from Groq’s $600 million raise to Tesla’s $16.5 billion deal with Samsung, all while geopolitical tensions flare over chip exports to China Equity will be back for you next week, so don’t miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

If you've been hearing about Trump's AI Action Plan and wondering who it actually benefits, you're not alone. On today's episode of Equity, Rebecca Bellan caught up with Amba Kak and Dr. Sarah Myers West from the AI Now Institute, a think tank focused on the social implications of AI and the consolidation of power in tech industry. Their recent report, dubbed Artificial Power, lays out the political economy driving today's AI frenzy and what’s at stake for everyone else. Artificial Power pushes back on what AI Now calls the "too big to fail" myth, arguing that AI companies are pouring billions into massive compute infrastructure and foundational models, often with government support, despite shaky business models and limited public accountability. Listen to the full episode to hear about: AI’s growing consolidation and how it mirrors Big Tech’s power dynamics. Why Silicon Valley is cheering on Trump's AI agenda, and the challenges of regulating AI. The disconnect between AGI hype and current, real-world harms. What a democratic, just, and accountable AI future could look like. Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

The big AI companies seem to be in a celebratory mood after President Donald Trump unveiled his AI Action Plan — not surprising, perhaps, since the plan was shaped by Trump's Silicon Valley allies. Today, on TechCrunch's Equity podcast, hosts Kirsten Korosec, Max Zeff, and Anthony Ha look at how the Trump administration plans to reshape the AI landscape, making it harder for environmental regulators to block data center construction, for state governments to oversee AI development and safety, and for tech companies to develop what conservatives see as "woke" AI. Listen to the full episode to hear more about this week's startup and tech news, including: Tesla's fancy new Hollywood diner, featuring Superchargers, a drive-in movie theater, and (supposedly) weird hot dogs. Amazon's acquisition of AI wearable startup Bee and what it might mean for Alexa's future The rapid rise of AI-powered website and app builder Lovable, which recently reached $100 million ARR Figma's plans to raise nearly $1 billion in an IPO, in what looks like a remarkable comeback following a failed acquisition by Adobe Equity will be back for you next week, so don't miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

AI is entering a new phase where access to top talent is becoming as important as, if not more important than, compute or data. The market for AI researchers is so overheated, it’s starting to look a lot like pro sports — complete with outsized contracts and unprecedented infrastructure needs. On today’s episode of Equity, Rebecca Bellan chatted with Deedy Das, principal at Menlo Ventures. Das has seen this shift from multiple angles, first as an engineer and product leader at Google, Facebook, and AI startup Glean, and now as an investor helping technical founders figure out how to build enduring companies in this new AI landscape. Listen to the full episode to hear: Why Meta is spending billions on both compute and researchers. How compensation packages and acquisitions are warping startup hiring and retention. What motivates top researchers to leave, even when they’ve already made millions. How VCs are thinking about key-person risk in the AI era. Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here. Learn more about your ad choices. Visit megaphone.fm/adchoices

OpenAI’s former chief technology officer, Mira Murati, just raised one of the largest seed rounds in history. Murati secured $2 billion in that seed round for Thinking Machines Lab — a startup so early, it hasn’t even revealed what it’s working on yet. The move is raising eyebrows across Silicon Valley, and it’s only the latest in a wave of top researchers splintering off from OpenAI to chase their own AI moonshots. Today, on TechCrunch’s Equity podcast, hosts Kirsten Korosec, Rebecca Bellan and Anthony Ha break down what’s fueling the OpenAI talent shuffle, investor enthusiasm, and a former employee’s behind-the-scenes peek inside the company. Either way, the team agrees: seed rounds really have changed. Listen to the full episode to hear more news from the week, including: The drama around xAI's safety practices keeps coming, with researchers from OpenAI and Anthropic publicly criticizing Musk's AI startup over Grok's latest scandals and what they reveal about broader AI safety gaps Uber investing hundreds of millions into premium robotaxis with Lucid and Nuro. Kirsten and Rebecca have some thoughts on whether this is a smart move or more AV déjà vu The AI coding assistant sector is heating up with major acquisitions. Devin-maker Cognition acquired Windsurf just days after Google poached the latter’s leadership in what's becoming a pattern of reverse acquihires Jack Dorsey's latest string of vibe-coding projects and nonprofit hacker collective, all pointing back to his long-standing push for decentralized tech. Equity will be back for you next week, so don’t miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hugging Face’s new AI robot, the Reachy Mini, has already racked up $1 million in sales just five days after launch. But the company isn’t trying to build a chore-doing humanoid just yet. Instead, Hugging Face sees the Reachy Mini as a hackable, desk-friendly device that's part entertainment, part entry point for developers and consumers to experiment with AI in physical form. On this episode of Equity, co-founder Thomas Wolf joins to explain why open-source AI needs hardware, how Hugging Face is thinking about robotics long term, and what might happen if people actually start coding apps for their robots. We'll also get into: How Hugging Face plans to leap from software to hardware. Hugging Face's ambitions to one day sell a full-sized humanoid robot. The role of privacy in consumer robotics, and how open-source can address it. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Hugging Face just launched Reachy Mini, an open source AI robot with big googly eyes and not much utility, and that’s kind of the charm. On this episode of Equity Kirsten Korosec, Max Zeff, and Anthony Ha break down the bot's debut, why it’s giving Seinfeld energy, and what it says about the future of open source hardware. Listen to the full episode to hear more news from the week, including: Grok’s wild week and Linda Yaccarino’s abrupt exit from X How Rivian’s micromobility spinoff, Also, snagged another $200 million to build e-bikes, even though it hasn’t launched a product yet. LangChain reportedly closing a new round that would push its valuation to $1 billion, thanks in part to a pivot toward monetizing its developer tools Equity will be back next week, so stay tuned! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

“SaaS is going away,” says Dave Park, co-founder and CEO of Narada AI. The company is betting on a future where AI agents, not humans, navigate enterprise software on our behalf. Today on Equity, Park joins Rebecca Bellan on Equity to talk about the rise of agentic AI, what it actually is, how it differs from traditional automation, and what real-world changes enterprises need to make to deploy it at scale. The timing for the conversation is ripe: YC’s most recent batch included 70+ agentic startups, and major players like Grammarly are building full AI work stacks through partnerships and acquisitions. Listen to the full episode to hear more about: What most people misunderstand about automation and who’s getting caught in the agentic hype How tools like Narada could eventually help solopreneurs and smaller teams, not just the enterprise giants Why the future of software might not be “using” apps at all Equity will be back on Friday with our weekly news rundown, so don’t miss it! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Cloudflare wants AI companies to pay up. The cloud infrastructure provider is launching a new experiment called Pay per Crawl that would let publishers charge AI firms every time their bots scrape a site, and it could reshape how content is accessed and monetized online. Today on TechCrunch’s Equity podcast, hosts Kirsten Korosec and Max Zeff dig into Cloudflare’s big swing, why it’s a natural next step after a year of laying groundwork for bot-blocking tools, and whether the plan to sit at the center of a pay-for-content protocol is genius…or just wishful thinking. Listen to the full episode to hear more about: How ICEBlock, an app for anonymously reporting ICE sightings, went viral thanks to backlash from former prosecutor Pam Bondi, and is now one of the most-downloaded free iPhone apps in the U.S. Why Figma’s S-1 filing could set the stage for a blockbuster IPO, and what its 48% revenue growth says about demand for design tools What Grammarly's acquisition of Superhuman signals about its vision for the "agentic future" of productivity Tesla co-founder JB Straubel’s new venture and how the old EV battery-powered AI data centers might just challenge Tesla's own storage business Equity will be back next week, and for those of you in the U.S., enjoy the long holiday weekend! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

As the interest in both space and solar grows, one startup aims to merge the two industries. By tapping into the momentum of the commercial space industry and the increasing demand for renewable energy, Robinhood co-founder Baiju Bhatt is on a mission to make space-based solar power a reality with his latest startup: Aetherflux. Today on Equity, Rebecca Bellan caught up with Bhatt to talk about his transition from fintech to deep tech and why he believes now is the right time to scatter solar power-collecting satellites across the skies. Listen to the full episode to hear more about: How Aetherflux approached funding as a bootstrapped startup (for now), and what investor interest in space-based solar looks like. The challenge of scaling tech that’s literally out of this world. And Bellan and Bhatt’s idea for a Burning Man light show. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week, two major AI companies scored early wins in court, with federal judges siding with Meta and Anthropic in separate lawsuits over how their models were trained on copyrighted material. The decisions represent the first real legal validation of AI companies’ argument that training models on books, images, and other creative works can be considered “fair use” — even if those materials weren’t obtained with permission. It’s a big deal for companies building generative AI, and a potential turning point for the many lawsuits still in motion. Today, on TechCrunch’s Equity podcast, hosts Max Zeff and Anthony Ha were joined by Sean O’Kane (who graciously stepped in while Kirsten headed off to the Nevada desert to see the next big act of Redwood Materials, the battery recycling and materials startup founded by former Tesla CTO JB Straubel) to dive deeper into the rulings. While neither case sets a precedent yet, Anthony noted that appeals are likely, and broader challenges could ultimately shape how AI companies interact with entire industries going forward. Listen to the full episode to hear more highlights from the week, including: Kalshi’s $185M round, and what it says about the rising (and legally murky) world of prediction markets The startup betting on reusable satellites, and why the Department of Defense is paying attention Tesla’s robotaxi rollout in Austin, and how it stacks up against Waymo and other AV companies’ approaches Equity will be back next week, so stay tuned! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Cow burps are a climate problem, and one startup wants to reprogram them. Hoofprint Biome is using enzymes to rewire the cow’s microbiome from the inside out, cutting methane production and improving feed efficiency along the way. The company just raised a $15 million Series A round from investors including Amazon’s Climate Pledge Fund, and they’re just getting started. Today on TechCrunch’s Equity podcast, Tim De Chant sat down with Kathryn Polkoff, co-founder and CEO of Hoofprint Biome, to talk through it all. Listen to the full episode to hear about: How enzymes and AI are helping fight climate change (seriously). What it takes to raise money for biotech in a sea of SaaS. Why thinking like a farmer, rather than a climate scientist, was Polkoff’s superpower. As she put it, “That’d be like if you were engineering a car but had never changed the engine — that’s where all the energy comes from.” The future of methane reduction and feed efficiency at scale. Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

OpenAI recently announced a $200 million deal with the U.S. Department of Defense, which has us wondering: Could this further strain the company’s relationship with its biggest backer, Microsoft? After all, there have been numerous reports about growing tensions between the two companies, particularly as they become more competitive over enterprise deals. Today, on TechCrunch’s Equity podcast, hosts Anthony Ha and Max Zeff discuss how the OpenAI/DoD deal reflects Silicon Valley’s increasingly cozy relationship with the military and why industry leaders are calling for an AI “arms race.” Listen to the full episode to hear more highlights from the week, including: Whether it’s a good thing that Vice President JD Vance joined Bluesky (and was briefly suspended) What it means that Wix acquired a six-month-old “vibe coding” startup for $80 million (and why Anthony hates the phrase “vibe coding”) A panel in which investor Ali Partovi and Cognition President Russell Kaplan discuss what technical talent means in the age of AI Equity will be back next week, so stay tuned! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

AI investments hit $110 billion in 2024, and the funding landscape in 2025 is more competitive than ever. For early-stage startups, that means more money in the market but also more pressure to stand out. At TechCrunch Sessions: AI, Rebecca Bellan sat down with three experienced investors: Jill Chase, Partner at CapitalG; Kanu Gulati, Partner at Khosla Ventures; and Sara Ittelson, Partner at Accel. They broke down what they are really looking for when evaluating AI startups from seed through Series C. Their message to founders? Forget the perfect pitch. Focus on building trust, surviving the hype cycle, and being ready for copycats the moment you find product-market fit. Listen to the full episode of Equity to hear about: Why VCs say founders are over-indexing on pitch decks instead of relationships What it takes to go up against big incumbents without getting crushed Why consumer focus (and speed) still win, even in B2B AI How agents and automation are already reshaping the startup playbook Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Meta just made a $14.3 billion bet on data-labeling company Scale AI, but it’s not a traditional takeover: Meta’s taking a 49% stake in the company and adding Scale’s co-founder Alexandr Wang to its team. Today on Equity, we break down what this means for Meta’s AI ambitions and revisit Wang’s early AI predictions. Listen to the full episode to hear more highlights from the week, including: How Chime’s IPO priced above expectations at $27 per share and jumped in early trading, and Anthony’s not-so-hot takes on what this signals for the tech IPO market Why Y Combinator’s Demo Day was packed with “agentic” AI startups building autonomous software, and how a recent chat with Fiverr’s CEO sheds light on AI-driven task automation in the gig economy How Jony Ive’s LoveFrom spent 18 months quietly collaborating with Rivian on their first electric bike, a spinout product confirmed to have a bike-like form factor Equity will be back next week, so stay tuned! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Generative AI is reshaping the way people work, from full-time employees to freelancers. As coding copilots, design assistants, and AI-powered writing tools become more capable and accessible, creative and technical roles are starting to shift – if not become eliminated entirely. The pressure to adapt is growing across the board. Micha Kaufman, CEO of Fiverr, isn’t sugarcoating it. In a recent open letter to staff, he warned that AI is coming for everyone’s jobs, and the only way to stay relevant is to embrace AI tools and automation. Get better, get faster, or get left behind. Kaufman joined Rebecca Bellan on TechCrunch’s Equity podcast to help unpack what all of this means for the future of work – be it freelance or employed – and what you can do to survive. Listen to the full episode to hear about: How Fiverr plans to stay relevant as a human-powered marketplace in an AI-driven world Why Kaufman believes AI will raise the bar for everyone, but top talent can still stand out and earn more What new grads and early-career professionals are up against in today’s tough job market Equity will be back Friday with our weekly news roundup, so stay tuned. Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices