Daylight's sunset and Meta's year of focus
Hello, and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.
Mary Ann and Alex were a dynamic duo this week, taking on a blizzard of tech news, startup updates and questions that linger over hundreds of billions of dollars' worth of venture capital investments.
Here's what the show got into today:
The fascinating backers of Checkmate and the future of online shopping: Mary Ann covered a very interesting Series A for Checkmate, a startup that not only has shown real legs on the competitive App Store, but also on social media platforms far and wide.
Cava's IPO won't save the IPO market, but it could help all the same: Alex is so IPO-deprived that he's drawing connections between anything that files and the startup market. This time it's not even that much of a stretch!
Daylight calls it quits: From the "not a huge surprise" category comes the end of Daylight, a neobank aimed at the LGBTQ+ market that has been struggling for a while. This brought up the question: Are themed neobanks going to make it?
Layoffs, layoffs, layoffs: SoundCloud is cutting staff to get to profitability, which we can understand. Meta is cutting staff because it, well, wants to conserve capital for more share buybacks?
Anthropic's massive funding round and who might win the AI war: When is $450 million not that much money? When you are building foundational AI models that are taking on OpenAI and others. Also in this section: Cold War metaphors.
And with that, we're heading off into a holiday weekend here in the U.S., so Equity will be back on Tuesday.
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, one that details how our stories come together and more!