Good morning! We regret to inform you that the wealthy are at it again
Oct 17, 2022
Excitement is in the air as a major San Francisco tech event approaches, with hosts buzzing about live interactions. Stocks are looking up, particularly in software, while the crypto landscape remains stagnant. Controversy stirs as Kanye West acquires social network Parler amidst minimal popularity and fierce competition. Investment spotlight shines on Ambi Robotics, which secured substantial funding, while Byju's also draws attention despite facing layoffs. Regulatory shifts are shaking up the Chinese semiconductor sector, raising questions for American workers.
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insights INSIGHT
Market Overview
Global stock markets show mixed results, with Asian markets divided and European markets generally up.
US stocks are set to open higher, with software stocks leading the gains.
insights INSIGHT
Crypto Market Update
The cryptocurrency market is relatively stable, with minor price fluctuations in major cryptocurrencies.
NFT trading volume continues to decline, and DeFi TVL remains within a consistent range.
question_answer ANECDOTE
Kanye West Acquires Parler
Kanye West (Ye) is acquiring the social media platform Parler, focusing on free speech.
The acquisition is unique as West is buying the platform's front-end but not its underlying infrastructure.
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Hell yeah, this is our Monday show. And heck yes, we are recording Equity live tomorrow morning at Disrupt. Get super stoked, because we are hype. That said, we did have a lot to get news done for you this morning. Here's what Theresa and Alex went through this morning:
Stocks are up in many parts of the world, including the United States, where software shares are ripping north as the week begins. Very kind of the market to kick off Disrupt with some good news.
Crypto is quieter, with prices not changing much and the general vibe of the market not evolving a whit.
Kanye West, also known as Ye, is buying niche social network Parler in a deal that will see the musician, fashion mogul, and controversy generator buy the service — but not the infrastructure that powers it. Parler is not very popular at the moment and has stiff competition from other various celebrity-owned (or soon-to-be celebrity-owned) social networks Truth Social and Twitter.
It is worth noting that West bought Parler after running into trouble with mainstream social services over his antisemitic posts.
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.
Equity