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How to lose money, SoftBank edition
Published on August 8, 2022
Alex and Grace are back to cover the biggest and most interesting technology, startup and market news. This morning was a fun mix of stuff that we don’t always get to, so strap in for the following:
- Stocks and cryptos are mostly higher today, meaning that most listeners of the show are now richer than they were Friday. Congratulations!
- Coinbase earnings on the horizon, but we got word today from Palantir and SoftBank. Palantir’s stock is off due to a guidance miss, while SoftBank reported massive losses from its Vision Fund efforts.
- Also, it turns out that SoftBank is of the perspective that startup founders are not yet willing to accept valuation cuts to bring the value of their startups in line with market conditions. That’s not good.
- And there was a huge PE deal today, Avalara being taken over by Vista Equity Partners in an $8.4 billion deal.
- What else? Self-driving cars from Baidu are now taking passengers in China, Lyft is building a media business and India is cutting back on buying Chinese smartphones.
We are back Wednesday! Chat soon!