Brief Summary
This Austin Business News podcast episode covers local business news, including South by Southwest's planned changes for 2026, Austin's tech industry trends, and Bumble's workforce reduction. The hosts also discuss upcoming chamber events, membership benefits, and a fun fact about the Fourth of July's connection to LGBTQ+ history.
- South by Southwest is planning a shorter, cheaper, and tighter festival in 2026, focusing on core programming like music, film, and tech.
- Austin's tech industry is experiencing a modest correction, with talent retreating to the coasts, but the city remains a strong regional powerhouse.
- Bumble laid off 30% of its staff, reflecting struggles to monetize and compete with other platforms.
- The podcast also highlights upcoming chamber events, membership benefits, and a grant opportunity.
Intro
The podcast introduces the topics for the episode, which include South by Southwest 2026, Austin's tech industry, and Bumble's layoffs. The hosts also mention upcoming events and express excitement about the discussions ahead.
Pride Month Recap
The hosts discuss the numerous Pride Month events they attended and express their exhaustion from the busy schedule. They joke about the possibility of a single "Pride Day" and acknowledge the extensive hangover period associated with Pride events. They also mention the Peace Park picnic and the successful turnout at the Pride Health Fair.
South by Southwest 2026
South by Southwest is planning a "concentrated 2026 festival," which translates to shorter, cheaper, and tighter. The festival will focus on core programming like music, film, and tech. Since selling a controlling stake to PMRC, the vibe has shifted from a cultural incubator to a sponsorship activation. The goal is to consolidate and offer a more efficient experience, though it may be less iconic. Pricing is listed as accessible, which is PR for needing more attendees. Austin helped put South by Southwest on the map, but rising housing prices and a shifting political environment are putting pressure on the city's brand. South by Southwest is trying to refind its footing in a world where every city wants to be the next Austin.
SXSW Discussion
The hosts discuss the industry-specific badges and neighborhoods being introduced at South by Southwest 2026, noting the absence of comedy as a specific category. They express mixed feelings about the changes, with some appreciating the idea of less FOMO and a more focused experience. Others emphasize the importance of film within South by Southwest and its continued status as a top-tier film festival. The hosts also discuss how attendees often have specific industry focuses and may not overlap much. The hope is that a more concentrated festival will encourage attendees to prioritize scheduled events over partying.
Austin's Tech Industry
Austin's tech industry is experiencing a correction after hyper-growth, with big tech counts and startup headcounts shrinking. Talent is retreating to the coasts, driven by AI hype and return-to-office mandates. Infrastructure issues and high housing costs are contributing factors. While Austin is not collapsing, its myth as the next Silicon Valley is cooling. The city is evolving into a mature regional powerhouse, focusing on advanced manufacturing and other industries. The hosts discuss the need for public transit to catch up with the growth in areas outside the city center.
Tech Industry Discussion
The hosts discuss Austin's tech industry trends, noting the shift towards advanced manufacturing and the growth in areas outside the city center. They attribute the shrinkage in startup activity to a lack of venture capital and the Achilles heel of housing costs and state politics. The conversation touches on the possibility of autonomous ride-sharing and the need for innovative transportation solutions. They also share anecdotes about self-driving cars and the potential for robots in the workforce.
Bumble Layoffs
Bumble laid off 30% of its staff, which is 240 employees, as part of a "transformation plan" focused on growth and innovation. This move is seen as a response to Wall Street's demands and the company's struggling stock price. Bumble is facing competition from TikTok, Instagram DMs, and a general disillusionment with dating apps. The company is offering severance and job support to those affected.
Dating Apps Discussion
The hosts discuss the state of dating apps, with one host describing the dating pool as "garbage" and full of fake profiles. They share personal experiences with bots and scammers on dating apps. The conversation touches on the challenges of finding genuine connections and the increasing prevalence of catfishing. They also discuss the trend of unsubscribing from dating apps due to dissatisfaction.
Queer Fun Facts with Fiona
Fiona shares a fun fact about the connection between America's first Independence Day and LGBTQ+ history. Baron Frieditch von Stuben, a Prussian military officer with a gay reputation, fled Europe amid accusations of improper conduct with young men. He was recommended to General George Washington by Benjamin Franklin and played a crucial role in training the Continental Army. Von Stuben lived openly with his male companions and is buried with his chosen family.
Fun Facts Discussion
The hosts discuss Fiona's fun fact about the Fourth of July and its connection to LGBTQ+ history. They also touch on the idea of requiring federal office candidates to pass the citizens exam. The conversation veers into a discussion about historical knowledge and the importance of understanding the country's history.
Membership News
Amy provides an overview of membership benefits and upcoming events. She highlights the DECA small biz opportunity summit on August 1st, which will cover commercial real estate, procurement, and hiring/retention. She also mentions a grant opportunity through the NGLCC and Verizon Small Business Digital Readiness Grant.
Upcoming Events
Colton shares a list of upcoming events, including a rainbow ribbon cutting and one-year anniversary party with CCRM Fertility, a luncheon at Murray's Tavern with Caleb Parsons of Edward Jones, a virtual health and wellness committee meeting, a rainbow ribbon cutting for Austin Emergency Center, and a monthly chamber happy hour at Drinks Lounge. The hosts express their excitement about the events and encourage listeners to attend.
