October 17, 2022

Good morning! We regret to inform you that the wealthy are at it again

8 minutes

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.

Don’t forget that the code “EQUITY” can save you money on Disrupt tickets and TechCrunch+ access. And it makes us here on the show look good!

Hell yeah, this is our Monday show. And heck yes, we are recording Equity live tomorrow morning at Disrupt. Get super stoked, because we are hype. That said, we did have a lot to get news done for you this morning. Here's what Theresa and Alex went through this morning:

Stocks are up in many parts of the world, including the United States, where software shares are ripping north as the week begins. Very kind of the market to kick off Disrupt with some good news.

Crypto is quieter, with prices not changing much and the general vibe of the market not evolving a whit.

Kanye West, also known as Ye, is buying niche social network Parler in a deal that will see the musician, fashion mogul, and controversy generator buy the service — but not the infrastructure that powers it. Parler is not very popular at the moment and has stiff competition from other various celebrity-owned (or soon-to-be celebrity-owned) social networks Truth Social and Twitter.

It is worth noting that West bought Parler after running into trouble with mainstream social services over his antisemitic posts.

Ambi Robotics raised new capital, as did Byju's, and the Chinese chip industry is in turmoil after the United States kicked it in the shins.

Woo! That's our show. We will see you tomorrow morning at Disrupt! Come and get an Equity pin and be The Coolest.

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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By TechCrunch, Mary Ann Azevedo, Kell, Theresa Loconsolo, Rebecca Bellan, Kirsten Korosec, Devin Coldewey, Margaux MacColl

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