June 05, 2023

Equity Monday: Revenge of the Mutual Funds

10 minutes

Here’s what Alex got into today:

Stocks are mixed around the world this morning while crypto stays pretty flat. Earnings this week that we’re excited about include Gitlab, Couchbase, Yext, Smartsheet, and Hashicorp. (We’re also keeping an eye on the Atomic Wallet hack.)

Reddit’s proposed API changes (charges, more like) are having a pretty big impact on the service’s userbase; there are calls for a blackout of certain forums in response to the proposed updates. Reddit, on the other hand, is a business and needs to make money.

Sticking to social media, news broke this morning that Twitter’s revenues are down sharply compared to year-ago totals, at least when we consider its American advertising incomes. Twitter does more than just ads in North America, but given that it’s likely a pretty big chunk of its total top line, it’s not good news.

Canva’s valuation was slashed by a mutual fund (something that we have seen a lot lately), the latest in a string of similar headlines for other unicorns.

Closing, WWDC is today. Get. Hype.

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Equity will be back on Thursday this week, but in the meantime, you can catch us on Twitter @EquityPod.

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

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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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By TechCrunch, Rebecca Bellan, Kirsten Korosec, Anthony Ha, Sean O'Kane, Theresa Loconsolo

4.2

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