Equity Startup yachts, Adam Neumann and wait what year is it again?
Aug 15, 2022
Markets are reacting to China's economic slowdown, sparking discussions on key tech mergers. Adam Neumann's new venture, Flow, raises eyebrows after receiving massive backing, aiming to disrupt the rental market. A fresh healthcare platform, Rune, focuses on delivering reliable medical information. Meanwhile, Peloton faces tough times with layoffs, contrasting sharply with Atlanta's thriving startup scene, which remains resilient and supportive for aspiring entrepreneurs.
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China's Economy
- China's central bank cut lending rates to boost demand after the economy slowed.
- This impacted Asian stocks, and U.S. equities were slightly lower after a positive week.
Failed Merger
- AppLovin's $20 billion merger offer to Unity was rejected.
- Unity chose a smaller merger with IronSource, prioritizing control over immediate financial gain.
Crypto Acquisition Fails
- Galaxy Digital abandoned its $1.2 billion acquisition of crypto custodian BitGo.
- BitGo failed to deliver audited financial statements, raising concerns.