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Daylight’s sunset and Meta’s year of focus

Hello, and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.

Mary Ann and Alex were a dynamic duo this week, taking on a blizzard of tech news, startup updates, and questions that linger over hundreds of billions of dollars worth of venture capital investments.

Here’s what the show got into today:

  • The fascinating backers of Checkmate, and the future of online shopping: Mary Ann covered a very interesting Series A for Checkmate, a startup that not only has shown real legs on the competitive App Store, but also on social media platforms far and wide.
  • Cava’s IPO won’t save the IPO market, but it could help all the same: Alex is so IPO-deprived that he’s drawing connections between anything that files and the startup market. This time it’s not even that much of a stretch!
  • Daylight calls it quits: From the ‘not a huge surprise’ category comes the end of Daylight, a neobank aimed at the LGBTQ+ market that has been struggling for a while yet. This begged the question are themed neobanks going to make it?
  • Layoffs, Layoffs, Layoffs: Soundcloud is cutting staff to get to profitability, which we can understand. Meta is cutting staff because it, well, wants to conserve capital for more share buybacks?
  • Anthropic’s massive funding round and who is going to win the AI war? When is $450 million not that much money? When you are building foundational AI models that are taking on OpenAI and others. Also in this section: Cold War metaphors.

And with that, we’re heading off into a holiday weekend here in the US, so Equity will be back next Tuesday.

For episode transcripts and more, head to Equity’s Simplecast website

Equity drops at 7:00 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders, one that details how our stories come together and more!


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