Global financial markets are largely in decline, especially in Asia, affecting startups and venture capital. In the world of cryptocurrencies, Bitcoin and Ethereum struggle while Dogecoin remains stable. Excitingly, Vendease, a Nigerian logistics startup, secures impressive funding, showcasing Africa's growing entrepreneurial spirit. Meanwhile, construction tech company Disperse attracts attention with its AI tools, navigating funding amid economic challenges. Plus, Apple's move to produce iPhones in India signals a new phase in its strategy.
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insights INSIGHT
Market Downturn
Global markets are down, impacting Asia, Europe, and the US.
SaaS and cloud stocks are declining, influencing startup valuations.
question_answer ANECDOTE
Vendease's Pivot
Vendease, a Nigerian food logistics company, shifted from a marketplace model to vertical integration.
They now buy in bulk, store, and deliver through third-party logistics.
question_answer ANECDOTE
Disperse's Tech
Disperse, a UK construction tech company, uses AI to track building site progress.
They use 360-degree camera images to provide project updates.
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Markets: Stocks are mostly down around the world today, taking especially large hits in Asia. U.S. shares are set to fall as well when they begin to trade. Major cryptos are also off in the last 24 hours, but not enough to make a fuss about.
Quick Hits: Do Kwon has been hit with a red notice, which means that he will likely soon be in custody. However, some are irked that he's in trouble for causing a financial meltdown and losing a lot of folks' money. What's the argument there? That he wasn't being malicious, and instead was merely, we presume, stupid. Not a great argument in terms of making Do Kwon look good, but that's where we are. Also in the mix: The new iPhone is being built in India and TikTok may find regulatory reprieve.
Closing Riff: Goodbye Q3 2022, hello Q4 2022. This is the last Equity Monday of the third quarter, a period that few of us are going to look back on and miss.
That's our show! We are back Wednesday and Friday!
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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