Equity

Latest Episodes:

Spotify throws its hat in the edtech ring Mar 25, 2024

Show notes

Today on the show we had a lot of ground to cover: Stocks around the world are in retreat to start the week, while crypto prices have themselves given back some recent gains. The biggest news item that we covered this morning was the exit of Stability AI’s CEO, the company’s revenue growth and burn rate have come into question before, making the move all the more newsy.

Over in the EU, a number of U.S.-based tech companies are under inquiry thanks to the new Digital Markets Act. At some point you have to wonder if tech giants are going to find a better working relationship with the bloc.

And speaking of Europe, Spotify’s next push is another non-musical effort, which I had a few thoughts about. None of which were incredibly excited, I have to admit. The news from China, including it getting the Vision Pro next, and a push to get Intel and AMD chips out of state computers. And we closed with this beverage startup report!

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.

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A $700M SAFE, more IPOs, and how one venture fund is transcending borders Mar 22, 2024

Show notes

This week we had Mary Ann, Becca, and Alex aboard.

Here's what the crew got into:

Deals of the Week: Mary Ann wanted to talk about Onyx, a neobank aimed at wealthy early-to-middle career adults. It's pivoting to B2B and is not, despite what the Internet said, dead. Alex wanted to discuss Montauk Climate, a climate incubator set up by the former co-founder of Casper and the recent Marc Lore/Wonder deal. The climate isn't doing well, in case you've missed the news. So, projects like this are welcome. And Becca brought Ethos Fund to the table, allowing us to discuss cross-border investing.
The upcoming Saudi AI push: What has lots of capital and is ready to pour it into AI investments? Sure, your local venture scene but also the Saudi Arabian government. Notable venture funds have been flying to the Middle Eastern state to raise capital, but perhaps in the future the capital will come for them.
How some VCs are holding back an IPO rush: A recent Becca investigation unearthed an interesting finding, namely that it may not be the fault of late-stage founders that their companies are not going public. Their backers might actually be the ones holding the door closed.
Oh, and Reddit started trading during our recording slot, and it's doing well!

We are back Monday with more! Chat then!

For episode transcripts and more, head to Equity’s Simplecast website.

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Astera Labs going public and the Inflection-Microsoft AI saga Mar 20, 2024

Show notes

Today we have a grip of startup stories, and a venture capital item that isn’t as bad of news as it seems at first blush. Here’s the rundown:

Astera Labs is going public after pricing above-range. We’ll see how it trades today, but it’s good news that the first real tech IPO of the year set its share price at $36, higher than even its raised price interval.
TigerEye’s $35 million round for business intelligence gives us a peek at how tech could help businesses navigate the future. There’s a YC connection as well, which is worth keeping in mind.
Pocket FM’s mega round shows that consumer-focused technology plays can still pay handsomely. Even more notably, Pocket FM’s business model is contra-subscription, which is delightfully different.
And then there’s the Inflection AI-Microsoft-saga, which is part startup story, part corporate venture capital story, and part antitrust story.
We also touched on the boom in two-wheel electric vehicle companies in India, and why one pension fund’s move to lower its venture allocation isn’t as worrying as it might sound.

For episode transcripts and more, head to Equity’s Simplecast website.

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LinkedIn wants a piece of Wordle’s success Mar 18, 2024

Show notes

This is our Monday show, in which we take a look back at the weekend and what’s ahead in the week. We’re coming to the end of earnings season, which means that there are just a few weeks left in the first quarter.

With spring in the air, here’s what we got into this morning:

Apple may tap Google for AI: Sure, Apple is working on its own AI tech, but Google’s Gemini model could be headed for an iPhone near you. Bloomberg broke the news.
Grok goes open source: As promised, xAI’s LLM Grok is out for people to play with. Most importantly, startup founders seem excited.
Reddit’s IPO makes progress: Oversubscription is always a good signal, but is also no promise of IPO riches to come.
Gumroad says ‘no thanks’ to NSFW content: Another year, another platform booting adult creators. It’s a tale as old as time!
Gaming is coming to LinkedIn: Look I don’t know what to tell you other than that all platforms eventually become one.

For episode transcripts and more, head to Equity’s Simplecast website.

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How to avoid all the IPO work without annoying investors Mar 15, 2024

Show notes

Hello, and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. The podcast turns seven this week, so in honor of its birthday drop us a review? More, newer reviews helps more folks discover the show, and makes our corporate parent happy!

Today our beloved Mary Ann was off on well-deserved break, so our friend and fellow-podcaster Rebecca Szkutak was kind enough to bring her insight and humor to the podcast this fine Friday. Here’s what we got into:

The latest in legal: The push to force a divestment of TikTok or ban it in the United States is making progress, as the EU finishes hammering out its new AI regulations.
Deals of the Week: Peak XV’s new, fascinating fund vehicle and what it may tell us about the Indian startup market. And, Ad Ventures’ new $80 million fund that felt rather contra-narrative in the best possible way.
AI, privacy: In the wake of AI getting booed at SXSW, we took a look at several new AI startups that are raising rounds for their audio-focused projects. These included Nijta and Tavus, not to mention a host of startups from the current Y Combinator cohort.
What to do when there’s no liquidity? Becca has the answer, and the answer is not going public. That’s the bad news. The good news is that secondary transactions might be a way to resolve lots of founder-investor tension regarding exit timing.

And with that, we are back on Monday! Chat then!

For episode transcripts and more, head to Equity’s Simplecast website.

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Startups are hiring fewer workers and paying out less in equity comp Mar 13, 2024

Show notes

This is our Wednesday episode, in which we dig into critical startup news to stay abreast of what founders and venture capitalists are working on.

Today on the podcast, we got through the following:

New data from Carta digging into startup compensation, and how it is changing;
How one startup is profiting off death, but in a way that is actually great;
Bear Robotics, and its killer new round for cute serving robots;
New stuff from BlueSky (all about moderation and choosing one’s own adventure) and Brave (getting a boost from the EU’s DMA);
And finally, some venture capital news that was a legit surprise.

For episode transcripts and more, head to Equity’s Simplecast website.

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Musk’s Grok goes open-source and Reddit updates its IPO filing Mar 11, 2024

Show notes

This is our Monday show, in which we take a look back at the weekend and what’s ahead in the week. Over the weekend, we dropped an interview with Roger Lee that is well worth your time, and here's our take on Reddit's IPO financials.

Here's what we got into today:

Crypto is taking flight, with bitcoin and ethereum notching big gains in recent days as the crypto winter fades to a fresh spring.
Reddit dropped a new IPO filing, which includes a price range target of between $31 and $34 per share. That values the company as high as $6.4 billion.
Musk intends to open-source Grok, the LLM that subscribers of X's most expensive tier have access to. The move comes after a recent debate regarding AI tech and how open it should be.
Bobby Kotick wants to buy TikTok?
Techstars' $80 million Advancing Cities Fund could be its first and last fund.
In closing, Griffin Bank's $24 million Series A extension caught our eye, and we're reading Ron Miller's interview with Slack's new CEO.

For episode transcripts and more, head to Equity’s Simplecast website.

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How many startups shut down last year compared to the year before? A lot. Mar 09, 2024

Show notes

This is our interview show, where we sit down with a guest, think about their work, and unpack the rest. This week, Mary Ann interviewed Roger Lee, an entrepreneur who’s spent the better part of a decade building tools for employees and employers alike. Lee is an angel investor as well the creator of Layoffs.FYI and co-founder of Comprehensive and Human Interest.

Roger joined us on the show last year in the wake of 2022’s tech layoffs, but this week we’re focusing on the business of shutting down and why investors are lining up to back startups in the space, including Roger.

We also talked about:

Just how many more companies shut down in 2023 compared to 2022 (spoiler alert, it was a lot!)
How many more layoffs we saw last year compared to years prior
The types of companies winding down and laying off
How his work is tied to all of it and the role of AI

Equity will be back on Monday for our weekly kick-off show, but don't forget to keep up with us in the meantime on X and Threads @EquityPod.

For episode transcripts and more, head to Equity’s Simplecast website.

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What's the Deel with Remofirst, and why are VCs playing musical chairs? Mar 08, 2024

Show notes

Today on the pod, Mary Ann and Alex dug into a whole mess of news, including:

Mews' massive new round is proof that vertical SaaS + payments remains a great way to build a big business, and earn a unicorn valuation at a time when those are growing rarer.
The global companies taking on Carta, including QuotaLab in South Korea. An acquisition has helped QuotaLab expand its product remit to founders, investors and their LPs.
Deel's purchase of Africa’s PaySpace got us talking about how acquisitive the HRtech company has been lately. We also dug into news that Deel crossed the $500 million ARR mark, a feat that other companies in its market have managed, like Gusto. (Remofirst also raised more capital, showing just how competitive Deel's market is today.)
Venture capital musical chairs: One Founders Fund investor has left the firm to go back to building things, while Benchmark lost a partner to their prior home at Thrive. Expect more, similar moves this year as venture resets from its last boom.

We have an interview coming out tomorrow that we're stoked about, and will be back on Monday. Talk soon!

For episode transcripts and more, head to Equity’s Simplecast website.

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OpenAI fires back at Musk, and Monzo raises a megaround Mar 06, 2024

Show notes

This is our Wednesday show, focused on startup and venture capital news that matters. If you are a founder or an investor, this one is for you!

Here’s the day’s rundown:

OpenAI fires back at Musk: In the wake of a lawsuit from former backer Elon Musk, OpenAI is bringing receipts and an argument that Musk wanted to run the company’s for-profit arm. Hard to argue against something that you wanted to run, yeah?
Monzo raises megaround: Monzo’s latest round is proof that the worst of the fintech slump is behind us.
All eyes on Ema: With $25 million and a launch from stealth, Ema’s work to bring AI to the enterprise is notable. But in such a crowded market, are many startups aiming too high on the stack?
Accenture buys Udacity: The former unicorn’s final resting place is not what it had dreamed of before, but this deal does bring welcome liquidity to at least one venture-backed startup.
A climate boost? An upcoming regulatory choice could unlock a massive wave of demand for carbon-tracking startups.
And the latest from OpenView: The Information reports that OpenView is returning most of its latest fund to backers. A weird and slightly sad final chapter for the firm.

For episode transcripts and more, head to Equity’s Simplecast website.

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