Dorsey leaves Bluesky, tech giants do more with less, and the next IPO

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 6 May 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today on Equity, we had to talk about the news that Jack Dorsey is out at Bluesky. After all, Dorsey is a former Twitter co-founder and CEO, so his investment of time into the rival social network carried weight. The decentralized social networking service said that it is looking for a new board member. Beyond that and a busy earnings week ahead of us, we also dug into the latest employment news concerning China’s tech giants. Like many large U.S. tech shops, they are shedding staff. Tech shops around the world are showing that they can do more with less. Sticking to China, the country is set to deliver another IPO, this time in the United States. Momenta could raise up to $300 million in its debut, meaning that its upcoming listing is is going to carry real weight. And to close out we took a look at new capital that the U.S. government is putting into digital twins, and why alt-clouds are making real progress but could run into growth speedbumps in time. Equity is back on Wednesday — we’ll chat with you then!

Transcript

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0:00.0	Hello and welcome back to Equity, the Tech Runge Podcast, about the business of
0:15.2	startups where we unpack the numbers and the nuance behind the headlines.
0:19.7	This is Alex, good morning. It is May 6th, 2024,
0:24.4	and this is our Monday show,
0:26.6	where we take a look back at the weekend.
0:28.2	We just had a quick peek at the week that is in front of us.
0:32.0	So on today's podcast, just for you, I have stocks
0:35.2	and crypto, big changes at Blue Sky, and IPO to get excited about, more investment
0:41.2	in chips in the US, and then the rise of alt clouds for computing work
0:45.8	and why I think that particular tech trend really matters. All right let's go.
0:57.6	And let's start with my favorite thing in the entire world. It's the stock market. Shares today are mixed in Asia. They are higher in the EU and set to rise here in the US.
1:04.0	Why all the positivity?
1:06.0	Well, last Friday, the US Labor report was pretty lackluster
1:10.0	and that led to optimism that the Fed will cut rates.
1:13.0	I don't know how you want to rate that, but that's what investors are saying.
1:16.2	Now, on the earnings front, there are too many names this week to even begin to tell you all of them,
1:21.6	so instead I'm going to give you a couple of highlights for each day.
1:25.0	On Monday, Palantir, Hymns, Rocket Lab, Tuesday, Arista Networks, Coupong, Data Dog, Toast, Twillio, Reddit, Lift.
1:35.0	Then Wednesday is super busy.
1:37.4	Uber, AirB&B, Shopify, HubSpot, Robin Hood, Instacart, Affirm, the list just goes on.
1:45.0	Then Thursday is Roblox, Unity, Dropbox, and J-Frog, which I really need to look back into.
1:51.0	Oh, and amplitude. And then oddly enough we also have a
	...

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