Equity The dominoes are falling
May 9, 2022
Global stock markets are in turmoil, leading to sharp declines in crypto prices, impacting tech valuations. Uber’s CEO announces significant changes, including a focus on free cash flow. The podcast discusses the startup landscape amidst these shifts, highlighting successful funding rounds from Pyramid Analytics and Paymob. Additionally, there’s a fascinating look at how technology is reshaping sports sponsorship, especially during high-profile events like the Miami F1 race. The evolving dynamics in venture capital present both challenges and opportunities for startups.
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Market Downturn
- Global stock markets and cryptocurrencies are experiencing a significant downturn.
- Tech companies face a market correction, with valuations returning to 2020 levels.
Coinbase Stock Plunge
- Coinbase's stock price has plummeted below $100 per share, significantly down from its reference price of $250.
- TechCrunch is now publishing startup layoff roundups, indicating a shift in the tech industry.
Focus on Free Cash Flow
- Uber's CEO, Dara Khosrowshahi, emphasizes focusing on free cash flow over adjusted EBITDA.
- He advises companies to be "hardcore about costs" and prioritize hiring based on necessity.