Daily Crunch: Terraform Labs CEO goes public with strategy to re-peg sliding UST stablecoin

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It’s Wednesday, May 11, aka the start of GooglePalooza, which the company insists on referring to as the far less entertaining “Google I/O 2022.” Our “GoogleCrunch team” has prepared a bevy of stories on Google’s hardware and software lineup, including Pixel Watch, Pixel 6A — a tease of the Pixel 7 — and a new tablet. All the details are below in the Big Tech section. – Christine and Haje

The TechCrunch Top 3

  • ‘Stable’ coin: Jacquelyn has all the details about the dramatic fall of Terra USD, a “stablecoin” known as UST, and its founder’s plans for avoiding a UST crash. Jacquie then collected crypto market participants’ thoughts about what UST’s meltdown means for the broader crypto market and other stablecoins.
  • Hits keep coming for crypto: Just kidding; Coinbase’s first-quarter results not only sent its share prices down but informed us that the number of monthly transacting users is expected to continue to fall. What does this mean for crypto? Well, it might have to weather the storm for a while. To make matters worse, Coinbase revealed it had to halt trading in India after some pressure from the Reserve Bank of India.
  • Airbnb plans for a hot house summer: As Jordan reports in a pair of very enjoyable stories today — including a Q&A with Brian Chesky, who believes “a new era of travel is about to begin” — the company is getting its beach bod ready for the summer with some new features, a category search, being able to book two listings in one flow for stays over a week, and AirCover travel insurance for guests.

Startups and VC

Few things blow our minds as much as the sheer scale of Tiger Global — the firm took a battering with $17 billion in losses. Connie reports it has burned through most of its most recent VC fund. Yikes.

As tech reporters, we love the rapid rise and we observe with occasional glee the unscheduled descent of the startups we cover. Natasha and Alex remind us in today’s episode of the Equity podcast that while founders couldn’t have seen a pandemic coming, they should have been better prepared for the world returning to whatever “normal” means. Or, as they put it: Layoffs happen to people, not companies.

Sure, go on, I’ll have another:

Finding your startup’s valuation: 5 factors to consider

6-sided die showing the number 5 On Old Wooden Table

Image Credits: avier Zayas Photography (opens in a new window) / Getty Images (Image has been modified)

In her latest TC+ column, angel investor Marjorie Radlo-Zandi addresses a question that’s on every founder’s mind these days: What is my current valuation?

For early-stage startups, finding that figure requires more art than science, since pre-revenue companies are still gathering data and fine-tuning their products.

“Many traditional valuation methods, such as discounted cash flow, aren’t as useful for valuing early-stage startups,” she writes. “This means investors have to gauge other factors that aren’t so easily measured.”

(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here.)

Big Tech Inc.

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Source: TechCrunch

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