Crypto and securities, back of the postcard version
Jul 29, 2022
The discussion kicks off with Jack Ma’s surprise decision to relinquish control of Ant Financial, sparking intrigue about fintech trends. Innovative neobanks like Pogo and Guava take center stage, highlighting their mission to support entrepreneurs and underserved communities. The evolving relationship between Coinbase and the SEC raises questions about crypto regulations and asset classification. The journey of a former software engineer turned venture capital leader illustrates the shift in funding dynamics, emphasizing opportunities in today’s challenging market.
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question_answer ANECDOTE
Ant's Origin
Ant Group started as a payments processor within Alibaba.
It spun out due to needing a payments license, which Alibaba couldn't secure with existing investors.
insights INSIGHT
Ma's Control
Jack Ma retained significant control over Ant Group even after stepping down.
His ownership stake remained high compared to current trends.
question_answer ANECDOTE
Pogo's Model
Pogo is a startup that aggregates user data like transaction and location history.
In return, it offers deals, promotions, and cashback rewards, acting as a "financial agent."
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Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.
Alex, Natasha and Mary Ann got together with Grace once again this week for our weekly roundup show, and hot dang was there a lot to talk about. So much so that we actually had to cut one topic from our notes, any guesses what that may have been?
Regardless, here's the rundown:
We had a big fintech theme this week, kicking off with the huge news that Jack Ma is giving up control of Ant Financial. Two specific tidbits stood out around Ant's origin story and Ma's flex of an ownership hold.
From there, it was time to talk Guava, Pogo, and TomoCredit, our Deals of the Week. The focus here was around just how inclusive certain fintechs can be, so thank you to founders who remind us to raise the bar constantly.
Next up? A new solo fund that broke out of a16z. Why leave to do a scary thing when risk is high? We talk about that, fintech innovation, and Rex Salisbury's LP base. (Plus, more on solo founders coming soon on TechCrunch+).
Equity drops every Monday at 7 a.m. PDT and Wednesday and Friday at 6 a.m. PDT, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.
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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