Discover the wild world of crypto and how its price stability is raising eyebrows. Dive into the sharp complaints from venture investors about startup valuations amid tough market conditions. Uber is shaking things up by selling a stake in Careem for $400 million, but it still has its eyes on ride-hailing. The drama between Elon Musk and Substack raises questions about free speech in tech. Plus, new FTX docs promise some juicy insights into financial mismanagement. It's a riveting mix of industry turmoil and strategic moves!
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insights INSIGHT
Crypto Market Stability
Bitcoin's price has remained stable around $28,000.
This stability could indicate market maturity or manipulation.
insights INSIGHT
YC Pricing Strategy
YC's pricing strategy benefits them regardless of external valuations.
High valuations are eventually corrected by startup growth, not initial pricing.
question_answer ANECDOTE
Uber and Careem Deal
Uber is selling a majority stake in Careem's super app business for $400 million.
However, Uber retains control of Careem's ride-hailing business.
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Today, we are talking about crypto, Uber, and how to be petty at scale. Here's what Alex got into:
Around the world of capital, we're most confused at certain bits of price stability in the cryptocurrency markets. It feels a bit faux, if that makes sense.
Where prices are less steady is the world of YC startups, where, once again, there's complaints amongst venture investors about the valuations that some of the earliest-stage tech companies out there are commanding. Perhaps a greater discount given the state of the world was anticipated.
Uber is selling part of Careem in a deal worth $400 million. Uber wants to do things on wheels. A super app company, at least in the Middle East, it is not. But it is about to have a huge new bankroll.
The Musk v. Substack battle took up much weekend oxygen, showing that it is often hard to retain one's free speech bonafides when you just don't want to anymore.
All that and there are new FTX docs! Huzzah! Let's have a good week, y'all.
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.
Equity