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March 13, 2023, 2:00 PM
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WeSmirchTop News
| U.S. Department of the Treasury: |
The US Treasury, Federal Reserve, and the FDIC say all Silicon Valley Bank depositors will be “fully” protected, and their money will be available on March 13 — WASHINGTON, DC — The following statement was released by Secretary of the Treasury Janet L. Yellen …
More:
Board of Governors …, The White House on YouTube, FDIC, Circle, CNBC, CoinDesk, CNN, PYMNTS.com, TechCrunch, GeekWire, TechCrunch, SVB Financial Group, Wired, DL News, Bloomberg, Crunchbase News, Decrypt, Blockworks, Bloomberg, Quartz, National Review, Wall Street Journal, CryptoSlate, Technical.ly, Rate of Return, Inside Bitcoins, NBC News, DealStreetAsia, NFT Evening, The Hill, Axios, Protos, Reuters, New York Post, CNBC, New York Times, CNBC, CoinDesk, crypto.news, THE LOGUE, MediaNama, Fortune, Coinpedia Fintech News, Coinspeaker, Bloomberg, Tech Startups, Cryptopolitan, Axios, NewsBTC, #OONO, Cryptonews, and CryptoPotato
LinkedIn:
Janet Mui, Chitra Nawbatt, and Dror Futter
Tweets:
@potus, @cz_binance, @jerallaire, @bgarlinghouse, @potus, @coinbase, @nicktimiraos, @danielagabor, @vcbrags, @federalreserve, @jessicalessin, @litcapital, @elaifresh, @neil_irwin, @bobeunlimited, @samro, @billackman, @octal, @federalreserve, @jasonfurman, @gavinsbaker, @chrisjbakke, @jason, @scottjshapiro, @fedguy12, @jimcramer, @danprimack, @macroalf, @zck, @gbildson, @burryarchive, @danprimack, @jeuasommenulle, @thestalwart, @texasvc, @ingridlunden, @modestproposal1, @trungtphan, @noahpinion, @levie, @tracyalloway, @mcuban, @mgsiegler, @ivanthek, @petercontibrown, @paulmitchell_ab, @stephanie_murr, @senwarren, @mbensass, @devahaz, @m_c_klein, @ian_fraser, @lizrhoffman, @robinbrooksiif, @jasonlk, @salehamohsin, @brendanpedersen, @whstancil, @stefeich, @vermontgmg, @chrisalbon, @charliebilello, @fedguy12, @gavinsbaker, @thebenbergman, @benedictevans, @tculpan, @salehamohsin, @wongmjane, @litcapital, @amlivemon, @anthonyrandazzo, @bgarlinghouse, @sarthakgh, @atrupar, @m_c_klein, @davidsacks, @kgreifeld, @repsarajacobs, @jonatanpallesen, @deanobeidallah, @firstadopter, @mcwm, @axios, @billackman, @wendyedelberg, @davidmwessel, @mattyglesias, @donmoyn, @joelpollak, @tomfitton, @newtgingrich, @dsquareddigest, @neoavatara, @isadwatson, @karaswisher, @dylanleclair_, and @lloydblankfein
| Sinead O'Sullivan / Financial Times: |
Having perfected the art of using hype to move markets, VCs managed to hype their own rumors to collapse SVB, accidentally slaying a much loved accomplice — After more than a decade of venture capitalists insisting they provide more than just cash to their portfolio companies, the moment to prove that finally arrived.
More:
Slate, Wall Street Journal, Kotaku, Wall Street Journal, and Financial Times
Tweets:
@billackman, @jason, @jason, @davidsacks, @zck, @billackman, @molly0xfff, @andrewrsorkin, @chimeracoder, @evanhill, @rachelensignwsj, @nic__carter, @davidsacks, @buccocapital, @thestalwart, @jason, @carlquintanilla, @repthomasmassie, @silvermanjacob, @jason, @balajis, @noahpinion, @danprimack, @dcwoodruff, @brooklynmarie, @maxkennerly, @ryanlcooper, @vittostack, @chrismohney, @jathansadowski, @davidsirota, @jordanuhl, @leehepner, @davidsacks, @jspujji, @bigblackjacobin, @pwnallthethings, @davidsacks, @verashokina, @dannypage, @nglaros, @danteatkins, @galois_capital, @ddayen, @mattbinder, @nickcho, @jasondebolt, @gritgrowthcap, @thelincoln, @mattbruenig, @adamjohnsonnyc, @nicoleperlroth, @hoofnagle, @chafkin, @carnage4life, @logophobe, @paul_bowers, @nycsouthpaw, @mclendaniel, @antoniogm, @pt, @mattdpearce, @carnage4life, @epicureandeal, @hblodget, @devahaz, @frances_coppola, @gumby4christ, @rohunjauhar, @davidsacks, @thelincoln, @carnage4life, @bigblackjacobin, @f_j_j_, and @poordart
| Iain Withers / Reuters: |
HSBC plans to acquire Silicon Valley Bank UK for £1, citing “strategic sense for our business”; as of March 10, SVB UK had ~£5.5B loans and ~£6.7B deposits — HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of Silicon Valley Bank for 1 pound.
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GOV.UK, Financial Times, BBC, Bank of England, TechCrunch, Bloomberg, HSBC, The Guardian, The Guardian, Silicon Valley Business …, Cointelegraph, The Economic Times, The Register, The Information, LinkedIn, PaymentSecurity.io, gHacks Technology News, Crowdfund Insider, Bloomberg, CNBC, Inside Bitcoins, Axios, Politico, CNN, Coinpedia Fintech News, Associated Press, The Times, ABC News, Cryptonews, Micky, Coinspeaker, New York Times, CoinDesk, Tech Monitor, City A.M., DL News, Tech in Asia, PYMNTS.com, South China Morning Post, crypto.news, Cryptopolitan, Forbes, UKTN, Dow Jones Newswires, Silicon Canals, Watcher Guru, Off to Lunch, and CoinJournal
LinkedIn:
Caroline Hepker and Rishi Sunak
Tweets:
@jeremy_hunt, @cetier1, @hmtreasury, @jamestitcomb, @wublockchain, @douglas4moray, @danielkorski, @justin_cash_1, @samgyimah, @loomdart, @daniburgz, @bondhack, @benedictcooney, @richardgrahamuk, @georgewparker, @checkwarner, @michelledonelan, @mjrobbins, @ibrahimsaninet, @bandrew, @georgewparker, @nigel_farage, @suzanneashman, @lisaabramowicz1, @thetranscript_, @jespow, @mayazi, @jamestitcomb, @edconwaysky, @drsdeg, @paulbranditv, and @justin_cash_1
| Michael Moritz / Financial Times: |
A eulogy for Silicon Valley Bank, a business partner to tech for 40 years, which offered services when established banks would not and was undone by its loyalty — Regardless of the reasons behind the bank's collapse, it leaves a huge hole for the start-up scene — The writer is a partner at Sequoia Capital
More:
Monomythical, Bloomberg, and New York Times
LinkedIn:
Bo Ren. Tweets:
@modestproposal1, @johnthornhillft, @edsuh, @jpm25, @aphclarkson, @stianwestlake, @macconwell, @flying_mom, @samirkaji, @rachaelrad, @dsquareddigest, @antoinegara, @dee_bosa, and @sarthakgh
| Ben Thompson / Stratechery: |
SVB bears responsibility for its demise, the outcome of disruption being tech's objective function, and the Silicon Valley myth could be the ultimate casualty — Banks are, at their core, facilitators: depositors lend their money to a bank, for which they are paid interest, and banks lend that money out, again for interest.
More:
Forbes, Bloomberg, Slate, TechCrunch, Yes, I give a FIG, Robert Reich, Rounding the Earth Newsletter, and Bloomberg
LinkedIn:
Nathan Mairs. Mastodon:
@ampressman@journa.host. Tweets:
@jen_mcfadden, @racecar_babytoy, @dkthomp, @thestalwart, @nowmediascott, @bzalasky, @stratechery, and @reubenr80027912
| The Verge: |
A Reddit user shows how Samsung's Space Zoom feature produces fake, generated images of the moon, highlighting how computational photography is changing photos — For years, Samsung “Space Zoom”-capable phones have been known for their ability to take incredibly detailed photos of the Moon.
More:
r/Android on Reddit, AppleInsider, 9to5Google, MacRumors, The Register, and Sammy Fans
Tweets:
@halidecamera, @fchollet, @raphaelmilliere, @supersaf, @sdw, @chrislintott, @somegadgetguy, @adrianhon, @halidecamera, @adrianhon, and @uwukko
| CNBC: |
New York shuts down Signature Bank as US regulators cite a “systemic risk exception” like for SVB, announcing all of Signature's depositors will be “made whole” — U.S. regulators said Sunday it shut down New York-based Signature Bank, a second financial institution …
More:
FDIC, Reuters, Department of Financial …, The Block, Wall Street Journal, Decrypt, New York Times, PYMNTS.com, CBS News, Bloomberg, The Block, Blockworks, Neowin, crypto.news, VentureBeat, Cointelegraph, Financial Times, MarketWatch, The Guardian, Inside Bitcoins, Gizmodo, Coinspeaker, Crypto Daily, Livemint, Bitcoin News, Apricitas Economics, and Watcher Guru
Tweets:
@jchervinsky, @hfangca, @melt_dem, @josephzeballos, @twobitidiot, @thestalwart, @okcoin, @fdicgov, @matthewstoller, @zachweinberg, @davidkurten, @leehower, @tbr90, and @arjunsethi
| Bloomberg: |
More:
Bloomberg and Coinspeaker
Tweets:
@coinbase, @twobitidiot, @tracyalloway, @timccopeland, @hsakatrades, @mayazi, @0xquit, @kamikaz_eth, and @lyu_johnny
| MacKenzie Sigalos / CNBC: |
| Sarah Perez / TechCrunch: |
WordPress.com owner Automattic acquires the WordPress plugin ActivityPub and hires its developer, to help blogs integrate with the Fediverse, including Mastodon — WordPress.com sites now have an easier way to integrate with the Fediverse, including Mastodon.| Vishal Chawla / The Block: |
Lending protocol Euler Finance lost $197M in a flash-loan attack, including $136M in stETH and $34M in USDC; Euler raised $32M in June 2022; EUL drops 45%+ — - Euler Finance was hit by a flash-loan attack that resulted in a loss of $197 million, according to security analysts.
More:
BleepingComputer, Cointelegraph, TechCrunch, Decrypt, Bloomberg, InfoRiskToday.com, crypto.news, Cryptopolitan, Ethereum World News, and SecurityWeek
Mastodon:
@lorenzofb@infosec.exchange. Tweets:
@eulerfinance, @peckshield, @zachxbt, @pcaversaccio, @peckshield, @degenspartan, @functi0nzer0, @crypto_mckenna, @mhonkasalo, @functi0nzer0, @0xtuba, @nomorebear, @lidofinance, @peckshield, @0xrooter, @yohangglobal, @mhonkasalo, and @route2fi
| CNBC: |
First Republic Bank's stock drops 60%+, after declining 33% last week, despite claiming $70B+ in unused liquidity on March 12 and the Fed's new lending facility — - First Republic said Sunday it had received additional liquidity from the Federal Reserve and JPMorgan Chase.| Fortesa Latifi / Teen Vogue: |
A YouTuber who went viral as a toddler says she resents her family for monetizing her childhood, as some influencer parents take their children off social media — “Nothing they do now is going to take back the years of work I had to put in.” — Search Claire's name online … | Dina Bass / Bloomberg: |
After investing $1B in OpenAI in 2019, Microsoft found ways to string together tens of thousands of Nvidia A100 GPUs, costing several hundred million dollars — When Microsoft Corp. invested $1 billion in OpenAI in 2019, it agreed to build a massive, cutting-edge supercomputer for the artificial intelligence research startup.Sponsor Posts
ElevenLabs:
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Niantic Spatial:
World models need real-world data — Scaniverse is the gateway to spatial services — self-serve and built for AI and robotics. Large-area 3D reconstruction from 360° cameras and precise localization, anywhere machines operate.
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Zoho:
ETL tool evaluation checklist: 6 things to look for before you choose — Your data is only as valuable as your ability to move, prepare, and access it efficiently. Choosing the wrong ETL tool can lead to months of rework …
ETL tool evaluation checklist: 6 things to look for before you choose — Your data is only as valuable as your ability to move, prepare, and access it efficiently. Choosing the wrong ETL tool can lead to months of rework …
IDrive:
Protecting your Cloud Applications Data — Backing up Office 365, Google Workspace, Dropbox & Salesforce data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.
Protecting your Cloud Applications Data — Backing up Office 365, Google Workspace, Dropbox & Salesforce data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.Featured Podcasts
Big Technology Podcast:
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Hard Fork:
Tim Cook's Legacy + The Future of U.B.I. With Andrew Yang + HatGPT
The future is already here. Each week, journalists Kevin Roose and Casey Newton explore and make sense of the latest in the rapidly changing world of tech.
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The Upstarts Podcast:
Chapter's Cobi Blumenfeld-Gantz: From Palantir To $3B Medicare Disruptor
Veteran tech reporter Alex Konrad sits down with breakout entrepreneurs taking on the status quo to shake up their fields in AI, design, nuclear energy, space, and more.
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Lenny's Podcast:
How Anthropic's product team moves faster than anyone else | Cat Wu (Head of Product, Claude Code)
Interviews with world-class product leaders and growth experts to uncover actionable advice to help you build, launch, and grow your own product.
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Access:
Silicon Valley finally has its "Succession"
A show about the tech industry's inside conversation, hosted by tech reporter Alex Heath and founder whisperer Ellis Hamburger.
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Tools and Weapons with Brad Smith:
Ryan Roslansky: Turning AI Anxiety into Skills for the Future of Work
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Qualtrics, Reuters, CRN, Barron's Online, CNBC, Tech Startups, CIO.com, GeekWire, Silicon Republic, and TechCrunch. Tweets:
@antoinegara