Good morning, assets are selling off
Alex, as per usual, is back with the kickstart to your week! Let's talk through the latest on stocks, crypto, Twitter, and good news on the startup front from Wove and SponsorUnited.
Equity · TechCrunch, Rebecca Bellan, Kirsten Korosec, Anthony Ha, Sean O'Kane, Theresa Loconsolo
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Show Notes
Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.
Note: Equity will be back on Wednesday, and Friday in some capacity. But keep in mind that this is a holiday week in the United States, so things are going to be a little bit slower than usual.
Here’s what we got into on our Monday episode, a weekly kickstart to your week!
- Stocks are largely down around the world, and crypto prices continue to deflate. Watching both these asset classes lose value in tandem feels like the worst horse-race in history. No matter what you hold, it's a bad Monday.
- Twitter CEO Elon Musk decided to bring former American president Donald Trump back to Twitter. Ironically, the former president is so far declining the option and wants to stick to his own social network, Truth Social.
- FTX owes $3.1 billion to its 50 largest creditors.
- In more positive news, Wove just raised a nearly $3.85 million Seed round, and SponsorUnited's big Series A proves that nine-figure early-stage valuations are not dead!
In closing, Natasha will host the Monday show next week as we get ready for my parental leave!
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, Spotify and 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.
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