Alphabet's Investment in Waymo
- Alphabet is looking to acquire companies but Wiz declined their offer.
- Wiz's decision to walk away from Alphabet is unpacked along with Alphabet's investment in Waymo.
- Latest updates on Clio, Mercury, and Aviato included in the discussion.
In the latest episode of TechCrunch’s Equity podcast, hosts Mary Ann Azevedo and Rebecca Szkutak delved into significant developments in the startup ecosystem, highlighting notable fundraises and a high-profile acquisition that fell through. The episode kicked off with an impressive discussion on Clio, a legal tech startup that has successfully raised substantial funds while maintaining rapid growth, a challenging feat for companies at a later stage in their development. The conversation then shifted to Alphabet's announcement of a potential $5 billion investment in Waymo, signaling strong confidence in the future of self-driving technology. However, both hosts expressed a preference for traditional human-driven vehicles, reflecting a common sentiment among consumers regarding autonomous driving. The episode also featured an inspiring story about a 17-year-old founder who raised funds for his startup, Aviato, from a unique pitching location—his high school bathroom stall. In a surprising turn, cybersecurity firm Wiz rejected a $23 billion acquisition offer from Alphabet, prompting discussions about the complexities of mergers and acquisitions in the tech industry. The episode concluded with a critical look at digital banking startup Mercury, which abruptly ceased services for founders in specific countries, including Ukraine, leaving many dissatisfied. Fortunately, another fintech company stepped in to assist those affected. Overall, the episode provided a lively and informative overview of current trends and challenges in the startup landscape.