Equity is covering the latest in tech news from the weekend and what’s making headlines early in the week. We're talking through CoreWeave's new $7 billion valuation, what's happening in crypto, delays at Google's AI project and Spotify cutting staff in light of economic conditions.

Equity Monday: Bitcoin is on the move as Spotify cuts staff, and more money floods AI

The intersection of technology, startups, and venture capital touches everything now. That’s why Equity, TechCrunch's flagship podcast, digs into the business of startups for entrepreneurs and enthusiasts alike.  Every Monday, Wednesday and Friday, TechCrunch reporters keep you up-to-date on the world of business, technology, and venture capital.

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This week, Mary Ann, Becca and Haje dug into three funding deals, proving that bigger is not always better (or more interesting).

Becca wanted to talk about Spoor, an Oslo, Norway-based startup using AI to help wind farms mitigate its impact on birds (how cool is that?) while Haje wanted to discuss how fintech Layer is looking to take on QuickBooks in the SMB accounting space. Mary Ann, meanwhile, was excited to look into one Kentucky-based startup’s decision to raise $27.5 million in venture capital after being bootstrapped for six years and achieving profitability.

We then moved on to AI-land, and all the fascinating new features revealed by OpenAI and Google this past week. And of course, we had to riff on what all of that means for startups.

Last but not least, the trio examined the trend of venture capital investors leaving their firms to do other things – including starting their own new firms, or going back to old ones, in some cases. We're still wondering what could be behind all the moves, but it doesn't look like the trend is not going anywhere anytime soon.

That’s it for this week but never fear, we’ll be back bright and early Monday morning with your tech and startup news, along with another round of Pitch Deck Teardown. Talk soon!

AI's busy week, and why the heck are so many VCs leaving their firms?

For months, TechCrunch Senior Reporters Mary Ann Azevedo and Christine Hall have been following the story of Newchip's bankruptcy and its impact on founders and today on Equity, they're joined by Haje Kamps to dig deep into how the accelerator’s fall from grace threatened the cap tables of thousands of startups.

Newchip's bankruptcy is a cautionary tale for founders

Last week was a busy one for some Apple Store employees. Over the weekend, workers at Apple’s Townson, Maryland store — the first Apple retail store to have a formally recognized union — voted to authorize a strike. While the date of the strike is still being determined, the union has been negotiating with Apple since January 2023 over work-life balance, unpredictable scheduling, and wages, among other issues.

But that wasn't all we discussed on today’s episode of Equity. This morning, Rebecca Szkutak also broke down what we can and can’t expect from OpenAI’s livestream event later today. On Friday, Sam Altman put a stop to rumors that the company will release a Google search competitor, but he did say OpenAI could announce a search feature within ChatGPT. 

To close out, Haje took the reins with another Pitch Deck Teardown. This time, we’re highlighting Cloudsmith, which secured $15 million for its cloud platform. The startup's 2021 round was the largest Series A for a company from Northern Ireland since 2005, so clearly they got a thing or two right. Listen through to the end to find out how the company pulled it off!

OpenAI gears up for a big announcement, and Apple Store workers authorize a strike

Finally, some good news! This week, we were pleasantly surprised to see that FTX victims would be getting some money back – even if it’s not as much as they might have hoped.

That wasn’t all, though: Mary Ann Azevedo, Kirsten Korosec, and Alex Wilhelm had plenty else to talk about this week on Equity.

We discussed why investors are drawn to the fact that Amae Health is building an in-person approach to mental healthcare in an increasingly digital space and also how one North Carolina startup that started out by building drones to clean windows in tall buildings has also become a robotics company.

Kirsten helped us understand what was behind Motional’s decision to delay its commercial robotaxi plans amid restructuring, and the greater context around that.

We then dug into digital banking startup Mercury’s plans to branch out into software, and how it now fits into the increasingly crowded spend management landscape. And, we riffed on the fact that we covered three M&A deals this week (read about them here, here and here) and how refreshing that was considering M&A activity has been lighter than expected. (Spoiler alert: AI was involved in at least two of them).

Acquisitions are heating up, and Mercury eyes the fintech crown

This morning on Equity, not only do we have good news for crypto founders, we're also digging into Akamai spending $450 million for API security firm Noname, and billion dollar deals from Wiz and Wayve. We also saw Monzo snag $190 million more, bringing its full-year fundraising score to more than $600 million as TikTok fights a ban, and Oyo tries to raise new capital at a fraction of its prior worth. 

And to close, Haje is bringing Pitch Deck Teardown to Equity! We're kicking the segment off with a look at NOQX's deck, what worked, what didn't, and what's next.

Equity Monday: Bitcoin is on the move as Spotify cuts staff, and more money floods AI

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