Daily Crunch: First Republic Bank stock reaches record low as feds discuss rescue plan

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In today’s episode of our Equity podcast, the team dives in to ponder whether the fall in First Republic’s shares is a casualty of SVB’s collapse, or if there’s something more to the water Well worth a listen, as always!

Another thing that cannot be missed today is JacquelynThe Chain Reaction newsletter, picking through what’s happening now that Binance.US has exited its $1.3 billion deal with Voyager.

Have a nice weekend, kids. Don’t do anything we wouldn’t do. While we’re pretty weird, that leaves you with plenty of options, to be fair. And indeed, you it should do tons of things we wouldn’t do. Like, uh, go parasailing, listen to the most annoying sound in the world, or spend all day baking a cake. Or maybe start a new bluegrass/funk/j-pop fusion band, written by ChatGPT.

Cristina i He came

The TechCrunch Top 3

  • The beginning of the end?: Alex Today he noted the problems in First Republic Bank stock, writing that the stock fell 40% on reports that the government might intervene. He writes: “This is not so good for the bank, or for its customers. Although during SVB’s time on the barrel, the US government assured that all its deposits would be safe and accessible, there is still no no clear indication that this is a de facto new policy or that First Republic customers will enjoy similar protections.”
  • missing: Manish took a look at Amazon’s earnings and saw a glaring omission: the absence of its India business, which it notes is the first in years.
  • All grown up: Brave Search is no longer using the Bing index for its search engine, it reports Ivan.

Startups and VCs

Drama It’s not often that rival startups fight in full view of each other, but that’s the case for mobile messaging service provider Postscript, which hit the Twitterverse earlier this month after receiving a cease-and-desist letter from competitor Attentive, Cristina reports Attentive’s letter was in response to a customer case study Postscript had written and published on its website about nutrition company BUBS Naturals, which said BUBS Naturals left Attentive for Postscript after finding that his roster was shrinking instead of growing, and then he was fighting with the company to relocate. your list off your platform.

To make services shariah-compliant, a new wave of fintechs charge no interest, adopt profit-sharing and avoid alcohol and tobacco transactions, Catherine reports

And here’s a nice little tailwind to get you into the weekend:

How we used data-driven personas to radically improve the customer experience

Set of people avatars.  Avatar profile icons of various people.  User avatar.  Man and woman face different nationalities.  Portraits of men and women.  Collection of characters.  Vector illustration.

Image credits: Hanna Plonsak (opens in a new window) / Getty Images

Rather than extracting information from user interactions to create avatars that represent real customers, many teams will substitute their own judgment and guesswork about what they like and don’t like.

VP of Product Gary Sabin says his company “died deep into the numbers” and “looked at 250 data points” to develop “person-based services in implementation, customer support and success of the client”.

After one year, the company generated higher customer satisfaction scores and NPS scores. “These people work for us,” says Sabin. “Your customer data can lead you to create the people who matter most to your customer base.”

Three more from the TC+ team:

TechCrunch+ is our membership program that helps startup founders and teams get ahead. You can register here. Use code “DC” to get 15% off an annual subscription!

Big Tech Inc.

Tired of reading endless posts on Reddit? Ready to get more involved? You’re in luck: Reddit is testing Discord-like channels for community chat. And no, they won’t be the same kind of community chat rooms that Reddit discontinued in 2020. Ivan he writes that these new channels “will give moderators more control and have a dedicated channel for moderators to chat about running the subreddit. Plus, they’ll be able to decide whether to enable this feature for the community in the first place.”

Before you head out for the weekend, have five more:

Source link
Ikaroa, a full stack tech company, took notice today of the plummeting stock prices for First Republic Bank. On Thursday, the stocks for the bank were trading at a record low level as the federal government discussed a possible bailout plan. This has been a dramatic drop from the highs of the week prior, when the stock prices soared 70 percent, leaving many analysts and investors confused.

What dampening the market is the fear of a growing financial situation facing the bank, with many speculating a slowdown in loan growth and an increase in the demand for deposits, will put pressure on the liquidity position of the bank. Coupled with a lowered outlook in Q3 earnings, investors are wary of putting their money in the stock.

Ikaroa believes that it is important that the future of banking industry, and the financial wellbeing of our nation, is handled with care. As the federal government works to assess and analyse the financial situation, close oversight must be maintained to ensure that the best decision for the overall health of the banking industry is made. We look forward to seeing how this situation develops and what measures will be taken to help the affected bank and it’s customers.


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