Category: Equity podcast

June 8, 2019 Off

Equity transcribed: What happens to late-stage VC if the Vision Fund goes away?

By Jill T Frey

Welcome back to the transcribed edition of the wildly popular TechCrunch podcast, Equity. This week Kate Clark and Alex Wilhelm convened in the new studio to discuss the biggest venture capital news of the week.

There was a lot of news to get to so they started with some quick hits about Thumbtack, Bird, Scoot, Mirror and Looker. Then they got down to business and went in-depth on SoftBank’s Vision Fund and whether the money has dried up.

And folks from Social Capital are back with a new firm called Tribe Capital that looks a lot like … Social Capital.

Kate: I think the TLDR here is, if the Vision Fund doesn’t raise a Vision Fund Two, we will feel changes in the market. I think we will see deal sizes come back to earth a little bit, and I think we may see at least not increasingly large valuations,

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June 1, 2019 Off

Equity transcribed: Is the tech press too positive in its coverage of startups?

By Jill T Frey

Welcome back the latest transcribed edition of Equity, the TechCrunch podcast that takes a closer look at the startup headlines from the week.

Kate Clark and Alex Wilhelm kick this week off by discussing comments on Twitter made by Y Combinator co-founder Paul Graham about the tech press. They then took a look at Uber’s first-quarter numbers, Brex raising, SoFi raising (and entering talks to buy the naming rights for the upcoming Los Angeles Rams stadium) and a lot more.

Here’s a sample:

Alex: Uber’s expectations were low. They had set, in their last S-1/A, these figures out and they came in the middle of revenue and loss expectations. I think the phrase is priced in, and that’s an odd place to be.

Kate: Yeah. It’s good that they came in on expectations. Lyft, you remember, had losses that were way, way, way higher than expected. But I

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May 31, 2019 Off

Is the tech press too positive in its coverage of startups?

By Jill T Frey

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

It’s our first week in the new TechCrunch podcast studio, or it was for Kate Clark and Chris Gates. Alex Wilhelm will be back in SF next week. For now, we fired up the mics and dug into what was a veritable barrage of news.

First, Paul Graham’s contentious comments. The co-founder of Y Combinator tweeted some criticism of the tech press on Thursday; naturally, Kate and Alex had a few thoughts. In summary, Graham doesn’t seem to understand what it is we tech journalists do, and that’s a problem.

Next … Read the rest

May 25, 2019 Off

Equity transcribed: How to avoid an IPO

By Jill T Frey

This week, the Equity duo of Kate Clark and Alex Wilhelm convened to get some quick hits in about Slack’s WORK, Luckin Coffee and Sam Altman’s departure from Y Combinator.

They then dug a bit deeper into the money around food: DoorDash and Sun Basket both raised this week. And what is a discussion about venture in food without mentioning Blue Apron?

And finally, TransferWise illustrates how not to IPO.

In all of this, they considered a world without the word “unicorn” as it relates to billion-dollar valuations — before admitting they are probably responsible for a good amount of its use.

Alex: So I think that the real unicorns now are companies that are growing, and are profitable, while also been worth over a billion dollars. Because we’ve seen very few of these, Zoom famously, was a profitable company. And its S-1, appears TransferWise also is, I can’t name

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May 24, 2019 Off

How to avoid an IPO

By Jill T Frey

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

We’re back to our old, weekly cadence. Which is all well and good, but after a run of doubling up episodes to keep up with the news cycle, showing up just every seven days nearly feels like vacation. But hey, we’re here for you (you follow us both on Twitter, right?).

There was a lot to go over, so please enjoy the following:

An IPO update: First up we checked in on our favorite children, the recently public. Uber and Lyft are still down. Fastly is still far up while Luckin Coffee is losing air like a pinched balloon. Also, Slack has a new ticker symbol, and we have thoughts about it.

Changes at YC: In case you hadn’t heard, YC has a brand new president by the name … Read the rest

May 17, 2019 Off

Unpacking Away’s $1.4B valuation, the startup studio model and CrowdStrike’s S-1

By Jill T Frey

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This week was something a bit special for the team, albeit in a sad way. It marked the last episode in which we’d all be together in the current TechCrunch office. It’s a place in which we’ve spent so much time, so we were all a bit nostalgic. (TC is moving offices, nothing else is changing!)

Anyway, there was news to discuss!

After Alex went through what he called a “mid-quarter check-in” we got into the meat of things, kicking off with Kate’s recent story on Madrona’s new startup studio. The $11 million that will be spent on spinning up ideas and spinning out companies forms a model that could be exported to … Read the rest

May 12, 2019 Off

Equity Shot transcribed: Judging Uber’s less-than-grand opening day

By Jill T Frey

Another day, another episode of Equity. This time it was an emergency episode, because Uber (finally) went public and a lot of financial folks were quite looking forward to how it would perform on opening day. Turns out it didn’t do so well.

Kate and Alex had a lot of questions about why? Was it the company’s fault? Was it simply the macro market? Was it something else altogether? And then there was the fact that it wasn’t a great week for the stock market or U.S.-China trade relations.

But don’t cry for Uber. As Kate Clark reported, the ride-hailing company still has $8.1 billion to play with to grow itself into a more profitable company.

And now we watch as Uber navigates the public markets.

Kate: Uber was a different story [than Lyft]. I think we expected a really similar pricing scheme, but we saw Uber set

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May 10, 2019 Off

Equity Shot: Judging Uber’s less-than-grand opening day

By Jill T Frey

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

We are back, as promised. Kate Clark and Alex Wilhelm re-convened today to discuss the latest from the Uber IPO. Namely that it opened down, and then kept falling.

A few questions spring to mind. Why did Uber lose ground? Was it the company’s fault? Was it simply the macro market? Was it something else altogether? What we do know is that Uber’s pricing wasn’t what we were expecting and its first day was not smooth.

There are a whole bunch of reasons why Uber went out the way it did. Firstly, the stock market has had a rough week. That, coupled with rising U.S.-China tensions made this week one of the worst of the year for Uber’s monstrous IPO.

But, to make all that clear, we ran … Read the rest

May 5, 2019 Off

Equity transcribed: New a16z funds, a $200M round and the latest from WeWork and Slack

By Jill T Frey

Welcome back to this week’s transcribed edition of Equity, TechCrunch’s venture capital-focused podcast that unpacks the numbers behind the headlines.

This week, Crunchbase News’s Alex Wilhelm and Extra Crunch’s Danny Crichton connected from their respective sides of the States to run through a rash of news about Divvy, Cheddar, SoftBank’s Vision Fund and Andreessen Horowitz. Plus, they got into the WeWork IPO:

Alex: We should move on to a business that we’ve never talked about on the show before WeWork.

Danny: To be clear, it’s not WeWork. It is the WeCompany.

Alex: But you have to put in quotes because no one knows what that is.

Danny: Sounds like a rollercoaster manufacturing company. So give us the top line numbers cause I never get tired of hearing them.

Alex: No, no, no. First we have to tell them the news Danny, what is the news then

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April 26, 2019 Off

Equity Shot: Uber’s IPO terms and Slack’s S-1

By Jill T Frey

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

Kate and Alex are back (again), bringing you the latest on the IPO front. As Friday is coming to a close, we’ll keep this post short to leave plenty of room for you to dig into the audio. Welcome to the weekend.

Up first we dug into Uber’s latest S-1 filing. This time, the company set a price range for itself (TechCrunch’s coverage here), valuing itself at $84 billion and also detailing estimates of its first-quarter results (Crunchbase News’s notes here).

We suspect Uber will ultimately price a top that range. Time will tell.

And then we turned to Slack, who’s direct listing will help set the historical tone for the unicorn era; screw your money, Slack says, we have our own. Well maybe not, but the … Read the rest