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this episode is presented by connection

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when

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it comes to itt connections got your one

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hello and welcome back to fifty

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the texans podcast for we unpack the

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numbers and the new ones behind the headlines

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it is august twenty second two thousand

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and twenty two and yeah i'm back

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without hello i've missed everyone oh

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so very much i want to start today with

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a big thank you to the equity team for been absolutely

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amazing while i was out you know equities a

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big family no one person is hypocritical

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but it's lovely to be able to go away

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and have everything be oh so smooth also

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we do have a new producer on the equity

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teams the families getting larger i'm excited

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about that more later but in

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general gladly back although i am

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having my usual fears of do i still

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know how to do my job well let's

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find out

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that's start have we always do with a look

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at the global markets what's going on over

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in asia of well stocks are mostly

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down over in europe stocks are

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down and here in america well

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stocks are set to fall at the open

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i think that equities are essentially digesting

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the potential for higher rates this

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unease about the global economies overall

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growth rates and there's a lot of other issues

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that i don't think we need to recap here but

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suffice it to say that starts are not going to

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have a good start to the week turning to

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the world of crypto there are no major

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price movements in the last day to be particularly

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care about but if you've said the time horizon

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and think about the last week wealth bitcoin

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zoc twelve percent east is not seventeen

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point five percent and salon as token is

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off twenty one point five percent

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that brings the aggregate market cap for crypto

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currencies down to the roughly one trillion dollar

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marks and sure market cap not a great

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metric for crypto but it does matter to the

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enthusiasts die in a tease are still

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depressed in terms of total value traded

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and the for price for board it is on

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the way down to the care about

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the been a tease the news isn't much better

2:04

my favorite thing in the entire world

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is when a private companies information becomes

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public and cnbc got it's hands

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on some numbers from stx decrypt

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have changed founded by sandbanks been freed better

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known as spf in the crypto world now

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asked to access node recently for jumping into

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the crypto market when it was falling apart to

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buy or provide some capital to floundering

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entities now if you think about the overall

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crypto market coin base has been are

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key metrics but is actually a mostly

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us focused look at crypto volumes

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now fts while it does have a us

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arm kind of is mostly internationally

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focused that gives us a very different lens

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into what's going on in the crypt a world so

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what did we learn from the scene busy report well

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in two thousand and twenty revenue at fcx

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with eighty nine million dollars leading to operating

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income of about forty million and net income

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of roughly same amount now in two thousand

2:54

and twenty one the company grew massively

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revenue scaled one point zero two billion

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operating income last year was two hundred and seventy

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four million and net income and two thousand

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twenty one three hundred and eighty eight

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million dollars or very impressive however

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it's also kind of whatever why

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is that well given what we know about the

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crypto markets we all know what had a

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great he doesn't twenty one so what happened

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this year well happily cnbc

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got one more datapoint namely the

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stx his q one twenty twenty revenue

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was two hundred and seventy million dollars

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that's just about it's last year's quarterly

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run rate which means that the company actually held

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onto it's growth at least through the first

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quarter this year this is when we get

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to the yeah but so point

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base had net revenues of eight hundred and three

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million in second quarter this year that

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was down from over one point one five

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billion in the first quarter so the

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stx manage kind of flat revenues and

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que one compared to twenty twenty one quarterly

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run rate actually isn't that impressive

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be really want the queue to numbers from mtx

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because those are the ones that really matters is

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a growing is it's shrinking that's what we need to know

3:58

where we actually got in this sport was

4:00

be good news minus be critical context

4:02

all the data makes stx look well

4:04

pretty good but until we get more recent

4:07

data don't presume that the exchanges

4:09

uniquely best in the market downturn in crypto

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we just don't know and we also don't have any

4:13

real indication that is doing materially better

4:16

than coin base which raises a very

4:18

interesting question if ft

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xd two hundred and seventy million in que one

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twenty twenty revenue and is worth thirty two

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billion dollars per crunch pasted us a number

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that's based off of a four hundred million dollars

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to one twenty two fund raise then

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why is coin base which did north of one billion

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in revenue in the first quarter same time frames

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why is it worth just nineteen point four billion this

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morning according to yahoo finance someone

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is wrong either mtx investors

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or corn maze investors i don't know

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who but those numbers don't make sense i

4:49

am pete i'm lousy manager slash

4:51

superhero families but

4:53

what happened

4:54

i put a very expensive latte

4:56

on top of my car drove off and it's

4:59

failed it

4:59

my laptop

5:02

is up there to that's

5:04

why we use connection services to manage our

5:06

cloud everything is backed up i can access

5:09

your stuff remotely you won't miss a a meeting

5:11

i really wanted that lot hey pete

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for all your i for

5:15

pete's sake, talk to the experts in connection

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i'm

5:18

an

5:20

i t manager today, i want talk

5:22

you, heads

5:23

up we've been hacked, what happened?

5:25

my password is my birthday everyone

5:27

knows that february 14th why

5:29

would a really good how these people secret is

5:32

i think i do have you ever

5:34

updated it yes i

5:35

valentine's day

5:37

okay we're protected with connection

5:39

security services you just gotta be

5:41

more careful pika yeah and for

5:43

all your eyes he needs for peed say

5:46

to talk to the experts a connection

5:48

he got the universe

5:51

thinks that i'm absolutely adorable i came back

5:53

just in time for the so car ip out everyone

5:55

knows i love an ip oh and this was a

5:57

fun once it took place on monday in

6:00

korea and we're talking about a company that raised hundreds

6:02

of millions of dollars worth of capital ball private

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including funds from saw think also

6:06

spencer's and sk holdings and

6:09

as you can kind of infer from the so car name

6:11

it deals with cars and rentals in the

6:13

environment and all that good stuff anyway

6:15

tackled reports the last week so car cut

6:17

is targeted ip offerings to one

6:19

hundred and two billion won roughly seventy

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eight million dollars giving the carsharing company

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a valuation of about a trillion

6:25

won give or take or about seven hundred and thirty

6:28

one million u s de before the start of

6:30

training so did that price reduction

6:32

help the answer is no shares

6:35

are so car rows over a present from it's i feel

6:37

price and then right after

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that it tumbled given the from a market cap

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of around six hundred and forty two million dollars

6:44

so why didn't the price got help why

6:46

did the company stock still fall well tech

6:48

once rights that's analysts attributed the music

6:50

performance of so cars debut today too

6:52

expensive valuation have flowed out in the i

6:54

feel market that is really and from the global

6:56

economic downturn so if a price

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cut leaves you still too expensive ones that

7:01

say about the i feel market well nothing

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good and that is a bummer perhaps

7:05

if this i b o had gone better we could

7:07

have seen at least some or asian i p o the

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us market for ip years remains utterly frozen

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but we can always hope that elsewhere in the world things are

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a bit warmer still unicorns please

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don't take heed of this result go public anyways

7:19

we want those filings thank you

7:24

turning to our usual run down of

7:26

quick news hits we're gonna kick off with

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tesla which is raising the cost of it's

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driver assist program now

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this service called fsb or for self

7:34

driving when from ten thousand dollars to twelve thousand

7:36

dollars back in january and is now going

7:39

from twelve thousand dollars to fifteen thousand

7:41

dollars starting in september

7:43

now you may have an issue with calling driver

7:45

assist quote for self driving but hey

7:48

something something advertising now

7:50

i wonder what is driving the cost

7:52

increase the price race could help

7:54

tesla improve cast collection provided

7:56

that consumers are willing to eat the price range

7:58

we'll see but i wonder what

8:00

sort of precedent it sets to have soldier the value

8:03

of a cart separate from it's purchase price

8:06

moving on, amazon wants to own

8:08

more healthcare assets according

8:10

to the wall street journal and i quote, amazon

8:12

is among the biters healthcare companies

8:14

signify health, joining other heavy hitters

8:17

vine in an option for the home health services provider

8:19

according quote people familiar with the matter now

8:22

this deal could be a billion

8:24

dollars which if you recall is

8:26

roughly double with, amazon's going to pay one

8:28

medical transaction that was worth about 3.9

8:31

billion that there's two ways to think about from

8:33

where i'm sitting this morning one amazon

8:36

is making a push to own a big chunk of the american

8:38

healthcare market or to the

8:40

company is its own network support its

8:43

huge workforce i'm not sure which one

8:45

it is but this is a big deal and amazon

8:47

putting his checkbook where it's is to

8:50

nso group well, it's finally reform

8:53

is good the infamous spyware firm is

8:55

now down to sit you looking for a new one

8:57

as it c o o up into the top

8:59

chair for a bit the company was known for

9:01

selling its hacking software, two actors that used

9:03

to to spy on and dissidents and hence

9:06

the stage and political rivals it was a big mess now

9:08

reuters reports that the company says that it will quote

9:11

ensure that its groundbreaking technologies are used

9:13

for rifle and worthy purposes to

9:15

which i want to say what the were you doing before

9:18

and finally this morning sparks are

9:20

dead drop down reports that spot volumes

9:22

in the us when to zero in july

9:25

from such high peaks do such a trough

9:27

marked zilch what a comedown

9:29

i guess it will be traditional ip owes and reckless

9:32

in from here on out he won't hear any complaints

9:34

from us and

9:37

that is our show for this monday morning do not

9:39

forget we are not lived as weeks to we

9:41

will be back on wednesday morning and friday

9:44

morning if you need more equity in the interim

9:46

we are on twitter were between under the handle

9:48

equity pod you want more of me i'd

9:50

be under the handle alex or that's very

9:52

good your lovely have a good week for thought

9:55

you soon box

10:08

everyone fizzes lucas mapping and i'm

10:10

anita ramaswamy we're launching a new tech

10:12

crunch podcast called chain reaction

10:14

digging into the world of crypto currencies

10:16

and if teas and web three crypto

10:19

, captured the attention of some of silicon valley's

10:21

most influential investors and founders

10:24

were hyping it is the future the internet is

10:26

a controversial vision and will still dominated

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by scams face and inciting

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involving blocked by

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each way it will unpack and explain

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the latest news drama and trends in plain

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english for the corrosive syria will

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be learning alongside you fi interviewing so

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as the saudis and bastard entrepreneurs

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and something along the way the pride

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now on your favorite podcast with

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younger wealthiest them