Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.

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Here's what we got into this Fine Monday Morning:

Stocks are down around the world, while crypto-assets are down even more; post-Merge you might have anticipated better performance from tokens, but it has not yet come to be.
The WSJ has some juicy notes on the upcoming Instacart IPO, namely that it is not expecting to sell a lot of its own stock in the transaction. Why does that matter? It tells us that the company is not burning that much cash -- a useful thing to know ahead of an anticipated IPO filing coming this year.
From startup-land: Ola is cutting jobs, two delivery logistics startups are merging in Sweden, and Byld Ventures is putting together a venture capital fund to watch.
Finally, Do Kown is a wanted man, shares of TakeTwo are down quite a bit following a massive leak.

And that is our Monday show! Chat you on Wednesday and Friday!

Equity drops every Monday at 7 a.m. PDT and Wednesday and Friday at 6 a.m. PDT, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.

Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.

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