Equity Cost cutting, layoffs remain leading startup themes
Jul 11, 2022
The podcast dives into the current turbulence in tech stocks influenced by government actions and a maze of financial challenges. Startups are tightly focused on cost-cutting strategies, with Unacademy aiming for a public offering in two years. Additionally, there's a spotlight on layoffs in the fintech sector and the broader implications of these workforce reductions in Southeast Asia. Meanwhile, cryptocurrency stabilizes, and major players like Tiger are reassessing their investment strategies.
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Market Overview
- Global stocks are down due to government actions and various negative factors.
- Cryptocurrencies remain relatively stable, with Bitcoin hovering around $20,000.
Tiger Global Slowdown
- Tiger Global significantly slowed investments after aggressive activity last year.
- This slowdown reflects a shift in market conditions and the impact of declining tech stocks.
Una Academy's Cost-Cutting
- Una Academy's CEO, Gaurav Munjal, announced cost-cutting measures, including salary reductions.
- Despite a $352 million reserve, Munjal aims for profitability and a public offering within two years.