Spy games in HR tech: Inside Rippling’s wild lawsuit against Deel

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Apr 4, 2025

Dive into a corporate espionage thriller where Rippling accuses Deel of undercover tactics and secret payments to an alleged mole. The tension escalates as legal claims turn personal, all while hosts discuss the hilarity of smashing a spy phone with an ax. The podcast also explores Circle's IPO and its implications for the crypto world, alongside gaming innovations in tax prep amidst copyright concerns. Plus, insights into major shifts in the AI landscape and how industry giants are adapting their strategies!

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ANECDOTE

Circle's Second IPO Attempt

Circle, issuer of stablecoin USDC, plans another IPO attempt after a failed SPAC in 2022.
Renewed interest in crypto, fueled by political developments, contributes to Circle's renewed efforts.

ANECDOTE

Gamified Tax Preparation

Accounting startup Ledger gamified tax preparation with its product PokéTax, inspired by Pokemon.
This approach addresses the widespread dislike of tax preparation and seeks to make it more engaging.

INSIGHT

AI Race and Capacity

OpenAI faces capacity issues and product delays due to high ChatGPT usage, with "melting GPUs."
Competitor Anthropic launched Claude for Education, aiming to integrate AI responsibly into education.

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Rippling’s latest lawsuit reads less like a legal filing and more like the plot of a corporate espionage thriller, complete with secret crypto payments, an alleged mole, and a fake Slack channel trap.

This week, the HR tech startup publicly named the employee at the center of its case against its rival Deel, claiming the company paid him thousands to spy from the inside. Deel, however, is not staying quiet. The company is denying the claims, calling it a dramatic distraction from Rippling’s own legal troubles.

Today, on TechCrunch’s Equity podcast, hosts Max Zeff and Anthony Ha are catching us up on the week’s headlines, including a breakdown of how this saga between two HR tech giants escalated from business rivalry to accusations of racketeering, and why, according to Max, smashing the phone you use for corporate espionage with an ax at your mother-in-law's house is “the oldest trick in the book.”

Listen to the full episode to hear about:

The startup that’s gamifying the tax filing process, and the copyright questions that continue to rise
Circle’s IPO and what the move could signal for others in the crypto space.
The latest in the AI race — from OpenAI’s record-breaking raise and GPU meltdowns to Anthropic’s AI chatbot plan for colleges and Google’s Gemini leadership shakeup.

Equity will be back next week, so stay tuned!

Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.

Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here.

Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time.

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