Intel Backs Robotics Startup, While Twitter Posts Losses and Fintech Sees Renewed Interest

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

Our Monday show covers the latest in tech news from the weekend and what’s making headlines early in the week. Here’s the rundown from this morning!

Global Market Update

Stocks are largely down around the world following weak Chinese economic data for the second quarter. This downturn is a reminder that the global economy is still grappling with the aftermath of the COVID-19 pandemic. As a result, investors are becoming increasingly cautious, which has led to a decline in stock prices.

However, it’s worth noting that not all industries are feeling the pinch. In fact, some sectors, such as fintech, are starting to show signs of life. We’ll be exploring this trend further later in the article.

Earnings Season Looms

As we head into an earnings cycle, investors will be closely watching the financial reports of major companies like Tesla and Netflix. These announcements can have a significant impact on stock prices, so it’s essential to stay informed about the latest developments.

In the meantime, let’s take a look at some of the other news making headlines this week.

Crypto Land

The XRP/Ripple partial victory drove a short-lived boomlet for many crypto tokens. While this surge was brief, it highlights the volatile nature of the cryptocurrency market. As we’ve discussed before, the value of cryptocurrencies can fluctuate rapidly, making them a high-risk investment option.

In related news, Twitter is cash-flow negative, according to its CEO. However, the company intends to double down on paying individual tweeters for their high-view activities. This move aims to increase user engagement and generate more revenue.

Threads Continues to Grow

While Twitter molts, Threads continues to grow like a weed. As we’ve discussed before, this new platform is gaining traction among users who want to share longer-form content without the character limits of traditional tweets.

Meta in Trouble

Speaking of Meta, the company is facing trouble in Norway. The Norwegian Data Protection Authority (NDPA) has fined Meta $18 million for violating the country’s data protection laws. This development highlights the increasing scrutiny that tech giants are facing around the world regarding their handling of user data.

Startup News

Intel invested in Figure, a robotics startup that we think is quite neat. We’ll be discussing this investment further later in the article. In other news, Thunes is now nearly a unicorn! This fintech company has been making waves with its innovative payment solutions, and it’s clear that investors are taking notice.

Looking Ahead

We’ll be back on Wednesday and Friday to bring you more updates from the world of tech. In the meantime, be sure to check out our episode transcripts and more on Equity’s Simplecast website.

If you want to stay up-to-date with the latest episodes, subscribe to us on Apple Podcasts, Overcast, Spotify, and all the casts!

TechCrunch Shows

We also recommend checking out TechCrunch’s crypto show, which interviews founders and details how their stories come together. This podcast is a must-listen for anyone interested in the world of cryptocurrency.

About Alex Wilhelm

Alex Wilhelm was a senior reporter for TechCrunch covering the markets, venture capital, and startups. He was also the founding host of TechCrunch’s Webby Award-winning podcast Equity.

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For more news and updates from the world of tech, check out these related articles:

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• Sonos CEO Patrick Spence is Leaving Following Bungled App Update
• Researchers Open Source Sky-T1, a ‘Reasoning’ AI Model That Can Be Trained for Less Than $450

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Fundraising

Are AI Companies Just Defense Tech Now?

In this article, we explore how AI companies are increasingly being seen as defense tech. This trend raises important questions about the role of technology in national security.

Building Physical Tech is Back in Fashion Thanks to AI, Robotics, and Defense

As we discussed earlier, Intel invested in Figure, a robotics startup that’s making waves with its innovative AI-powered solutions. In this article, we take a closer look at how AI, robotics, and defense are driving the resurgence of physical tech.

We hope you enjoyed this week’s episode of Equity! Be sure to tune in next Monday for more updates from the world of tech.

Transcripts and More

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