Robinhood's crypto bet, AI-powered healthcare, and more on the fall of Fisker | Equity Podcast

Robinhood's crypto bet, AI-powered healthcare, and more on the fall of Fisker | Equity Podcast

Robinhood's Expansion

  • Robinhood acquired the European cryptocurrency exchange Bitstamp for $200 million, signaling its commitment to the crypto space and international expansion.

Sword Health's Funding and Growth

  • Sword Health, an AI-powered virtual physical therapy startup, raised $130 million at a $3 billion valuation.
  • The company plans to use the funds to enhance its AI, introduce a human-like voice for its musculoskeletal therapy, and expand into women's pelvic health care.
  • Sword Health's funding round included a $30 million primary round and a $100 million secondary round, allowing employees to sell their equity to new and existing investors.

Echo Health's AI-Enhanced Stethoscope

  • Echo Health, a company that developed an AI-enhanced stethoscope, raised $41 million.
  • Their stethoscope can detect heart conditions like murmurs and the early stages of heart disease by analyzing chest sounds and ECG information.
  • The company received FDA clearance for using its AI to detect the first signs of heart failure.
  • The company is developing AI algorithms to detect pulmonary conditions such as asthma and pneumonia.

Fisker's Internal Issues and Financial Struggles

  • Fisker, an electric vehicle startup, has been facing internal issues and production problems.
  • The company's founder made last-minute design changes, causing tension between the design and engineering teams.
  • Fisker did not have a sufficient stockpile of spare parts, leading to delays in production and the use of parts from marketing cars and even the founder's personal vehicle.
  • Fisker is on the brink of bankruptcy due to several issues, including faulty vehicles and poor customer service.
  • The company cut corners by using chatbots instead of live customer service representatives, leading to difficulties for customers in getting their problems resolved.
  • Fisker's cars had numerous problems, such as loose bolts on the hood that could fly up and crack the windshield, faulty brakes, and stuck doors.
  • Despite the problems, Fisker managed to raise $100 million in funding and debt, with $90 million secured in 2022-2023.

LoanSnap's Financial Troubles and Lawsuits

  • LoanSnap, an AI mortgage startup, is facing multiple lawsuits from creditors and has been evicted from its headquarters.
  • The company has been accused of mismanagement of funds and owes more than $2 million to creditors.
  • LoanSnap originated nearly 1300 loans in 2021 but only 122 loans in 2023 due to rising interest rates.
  • Employees blame the company's current state on poor leadership, overspending, and investors falling for the founder's charisma.

Financial Apps for Gen Z

  • FR is a social financial community for Gen Z users to anonymously ask questions and compare their financial situations with their peers.
  • FR raised $2.8 million in seed funding and has over 100,000 users nationwide.
  • Fizz is a debit card with an AI-based budgeting product and gamified financial literacy courses for college students.
  • Fizz raised $14.4 million in seed funding and is available to students at over 300 campuses in the US.

Video Credits

  • The video is produced by Teresa Lo cons solo and edited by Kell Bryce.
  • Durban is the illustrator for the video.
  • The audience development team and Henry pet, who manages Tech frunch audio products, are thanked for their contributions.

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