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

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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, 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, 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, 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, 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.

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.

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.