The Rundown 8/1/25: Figma IPO Skyrockets, Canada’s Crypto Pivot, and Amazon’s AI Content War

Welcome back to another exciting episode of Tank Talks! Host Matt Cohen is joined by John Ruffolo as they dive deep into some of the most fascinating business and tech news, covering everything from the Bank of Canada’s interest rates to Figma’s IPO debut and the rising debate over AI web crawling. Get ready for another whirlwind discussion on the challenges and opportunities at the intersection of technology, finance, and policy!

Bank of Canada Holds Rates Amid Tariff Resilience (00:31)

The episode kicks off with a look at the Bank of Canada’s decision to hold interest rates steady at 2.75%, despite tariff resistance from the U.S. Matt and John dissect how the Canadian economy is faring and whether this wait-and-see approach will help or hurt the country’s future rate cuts.

Figma IPO: A Tech World Shake-Up (02:56)

Figma, the design software giant, hits the New York Stock Exchange with a stunning 225% stock surge, far surpassing its $33 IPO price. Matt and John explore the remarkable jump in Figma’s stock value, its previous $20 billion offer from Adobe, and how this signals a new era for the tech IPO market.

The Surge of AI-Powered IPOs and Investment Opportunities (05:02)

From Figma to potential IPOs from high-growth AI companies, the episode shifts focus to the flood of upcoming tech public offerings. With Microsoft and Meta reporting blowout earnings, the duo discusses how AI and high-tech companies are dominating the IPO space and the new investment opportunities in play.

Cohere's Growth Amidst AI Giants (07:29)

Canadian AI startup Cohere is making waves with a new partnership with Bell Canada and reports of revenue growth, doubling its projected recurring revenue. John and Matt discuss how the startup is positioning itself in the highly competitive AI space, especially with privacy-focused models catering to regulated industries.

JPMorgan and Coinbase's Surprising Crypto Partnership (09:48)

JPMorgan and Coinbase announce a groundbreaking partnership, directly connecting customers' bank accounts to crypto wallets. Matt and John break down how this bold move marks a huge shift in the banking industry, particularly as Canadian banks are left playing catch-up.

Ontario Cancels Starlink Deal Over Tariff Tensions (12:09)

In a shocking move, the Ontario government cancels a $92 million Starlink deal due to U.S. tariff tensions. Matt and John discuss how this decision could impact access to vital broadband for remote communities and the political ramifications of Canada’s communications sovereignty.

The Growing Battle Over AI Web Crawlers and Content Protection (15:26)

As AI web crawlers, including OpenAI's GPT and Anthropic's Claude, face growing restrictions, Matt and John discuss the implications of major companies like Amazon and media giants blocking these crawlers. The episode explores the future of online data scraping, the rise of closed ecosystems, and the potential impact on digital advertising.

Connect with John Ruffolo on LinkedIn: https://ca.linkedin.com/in/joruffolo

Connect with Matt Cohen on LinkedIn: https://ca.linkedin.com/in/matt-cohen1

Visit the Ripple Ventures website: https://www.rippleventures.com/

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