Global financial markets are facing a downturn, particularly impacting stocks and cryptocurrencies like FTX and Coinbase. The IPO of South Korea's Socar struggled to impress, reflecting concerns in a weakened market. In tech news, Tesla is raising prices on its driver-assist features while Amazon pursues healthcare investments. Additionally, there are signs of reform for NSO Group, and the trend of SPACs seems to be fading. Join the discussion for insights into these evolving financial dynamics!
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insights INSIGHT
Exchange Valuation Discrepancy
CNBC revealed FTX's revenue was $270 million in Q1 2022, while its valuation is $32 billion.
Coinbase had over $1 billion in Q1 2022 revenue but is valued at $19.4 billion, indicating a discrepancy.
insights INSIGHT
Socar IPO Underperformance
Socar's IPO in South Korea saw a price reduction to attract investors but still underperformed.
Analysts attribute this to high valuation and a global IPO slowdown.
volunteer_activism ADVICE
Tesla's FSD Price Hike
Tesla increased the price of its Full Self-Driving (FSD) software from $12,000 to $15,000.
Consider the implications of separating a car's value from its purchase price.
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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.
This week Alex was back with Grace and our new producer to kick off the week. Now that we are through earnings season, things are a little quieter on the forecast front, but that didn't mean that we were short on material:
Stocks are down around the world, while crypto prices remain depressed in the last week; NFT volume continues its negative drift.
CNBC got FTX revenue numbers! Only through the first quarter of 2022, sadly, meaning that we have a good idea of what the company did through March of this year. That is good, but not great. Why not? Q2 is really the turning point for crypto exchanges, Coinbase data indicates. So we got the stuff that makes FTX look good. We need more.
The Socar IPO was kinda meh, in the end. While we welcome any and all IPOs at this point, hopes may have been for a stronger welcome on the South Korean stock market for the SoftBank-backed company. TechCrunch has more.
Equity is back Wednesday and Friday this week, as we do not have a live show. Chat soon!
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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