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

We hope that you are in good form this Friday, alive, well and ready to rock. We certainly were. And in a change of pace, as our dear Mary Ann was off this week, the excellent Anita Ramaswamy joined Natasha Mascarenhas and Alex Wilhelm on the mics. (Theresa, as per usual, held down the production front!)

What did we merry three get into? The following:

• Quick Hits: Launch House is shaking up its legal team as it sifts through what is left of its reputation; Sequoia India is still making big edtech bets; and BeReal is wealthy and, in our view, pretty cool. But does it have the staying power it will need?
• Twitter layoffs: When we prepped for the show, it seemed that massive Twitter layoffs could impact up to 75% of the company's staff. Since then, the figure has come down some. How much? That's not clear, but what is is the fact that Twitter's new chapter is supposed to begin, and soon.
• King Apple: The multifront war attacking Apple's massive and pervasive demand that it gets 30% of all transaction value on the App Store continues to rack up detractors. This time? NFT and other crypto fans. 
• China: We closed on a brief riff on Chinese startups!

We are back Monday for a spooky episode!

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.