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March 13, 2023, 5:45 PM
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| 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 …
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LinkedIn:
Janet Mui and Dror Futter
Tweets:
@cz_binance, @potus, @bgarlinghouse, @coinbase, @potus, @jerallaire, @danielagabor, @federalreserve, @nicktimiraos, @litcapital, @jessicalessin, @elaifresh, @octal, @samro, @neil_irwin, @bobeunlimited, @billackman, @jasonfurman, @federalreserve, @gavinsbaker, @jason, @scottjshapiro, @fedguy12, @jimcramer, @danprimack, @chrisjbakke, @macroalf, @gbildson, @burryarchive, @jeuasommenulle, @zck, @semil, @modestproposal1, @trungtphan, @noahpinion, @thestalwart, @tracyalloway, @levie, @mcuban, @ivanthek, @petercontibrown, @texasvc, @stephanie_murr, @senwarren, @mbensass, @devahaz, @m_c_klein, @ian_fraser, @robinbrooksiif, @jasonlk, @salehamohsin, @brendanpedersen, @whstancil, @stefeich, @vermontgmg, @cburniske, @charliebilello, @fedguy12, @gavinsbaker, @ingridlunden, @thebenbergman, @benedictevans, @danprimack, @salehamohsin, @wongmjane, @litcapital, @cburniske, @anthonyrandazzo, @bgarlinghouse, @sarthakgh, @atrupar, @m_c_klein, @davidsacks, @kgreifeld, @jonatanpallesen, @deanobeidallah, @firstadopter, @mcwm, @billackman, @wendyedelberg, @davidmwessel, @mattyglesias, @donmoyn, @joelpollak, @tomfitton, @newtgingrich, @dsquareddigest, @neoavatara, @isadwatson, @karaswisher, @dylanleclair_, @lloydblankfein, @adamscochran, @chiweethegod, @shortsightedcap, @esaagar, @ericnewcomer, @jstein_wapo, @rajakorman, and @jeannasmialek
| Sinead O'Sullivan / Financial Times: |
Having perfected the art of using echo-chamber hype to move markets, VCs managed to hype their own rumors to collapse SVB, 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.
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Slate, Wall Street Journal, Kotaku, Wall Street Journal, and Financial Times
Mastodon:
@lauren@mastodon … and @ernie@writing.exchange
Tweets:
@jason, @billackman, @jason, @davidsacks, @zck, @chimeracoder, @billackman, @rachelensignwsj, @molly0xfff, @andrewrsorkin, @evanhill, @carlquintanilla, @repthomasmassie, @silvermanjacob, @davidsacks, @jason, @buccocapital, @thestalwart, @nic__carter, @balajis, @jason, @noahpinion, @noahpinion, @maxkennerly, @chrismohney, @leehepner, @davidsacks, @jspujji, @bigblackjacobin, @pwnallthethings, @davidsacks, @verashokina, @brooklynmarie, @dannypage, @davidsirota, @jathansadowski, @nglaros, @ddayen, @jordanuhl, @nickcho, @jasondebolt, @gritgrowthcap, @thelincoln, @dcwoodruff, @mattbruenig, @adamjohnsonnyc, @nicoleperlroth, @chafkin, @logophobe, @paul_bowers, @nycsouthpaw, @mclendaniel, @antoniogm, @ryanlcooper, @pt, @carnage4life, @epicureandeal, @hblodget, @vittostack, @devahaz, @frances_coppola, @gumby4christ, @rohunjauhar, @thelincoln, @danprimack, @bigblackjacobin, @f_j_j_, @poordart, @lalehkhalili, @vivekgramaswamy, and @felixsalmon
| Iain Withers / Reuters: |
HSBC acquires Silicon Valley Bank's UK arm for £1, citing “strategic sense for our business”; as of March 10, SVB UK had ~£5.5B in loans and ~£6.7B in deposits — HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of Silicon Valley Bank for 1 pound.
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Bank of England, BBC, TechCrunch, HSBC, GOV.UK, Bloomberg, The i Paper, SiliconANGLE, PYMNTS.com, The Guardian, BetaKit, Cointelegraph, PitchBook, LinkedIn, Reuters, The Economic Times, UKTN, CoinJournal, Cryptonews, Micky, Tech in Asia, gHacks Technology News, crypto.news, Cryptopolitan, Forbes, Crowdfund Insider, The Register, Inside Bitcoins, ComputerWeekly.com, and Bitcoinist.com
LinkedIn:
Caroline Hepker and Rishi Sunak
Tweets:
@jeremy_hunt, @cetier1, @hmtreasury, @jamestitcomb, @wublockchain, @danielkorski, @justin_cash_1, @samgyimah, @loomdart, @daniburgz, @bondhack, @benedictcooney, @richardgrahamuk, @georgewparker, @checkwarner, @michelledonelan, @mjrobbins, @ibrahimsaninet, @douglas4moray, @bandrew, @georgewparker, @nigel_farage, @suzanneashman, @lisaabramowicz1, @thetranscript_, @jespow, @mayazi, @jamestitcomb, @edconwaysky, @drsdeg, @paulbranditv, @justin_cash_1, @arashmassoudi, @nickmacpherson2, @bondhack, and @degenspartan
| Michael Moritz / Financial Times: |
A eulogy for Silicon Valley Bank, a business partner to tech for 40 years that worked with startups when bigger banks wouldn't and paid a price for 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 and Bloomberg
LinkedIn:
Bo Ren. Tweets:
@modestproposal1, @pkafka, @semil, @johnthornhillft, @edsuh, @jpm25, @aphclarkson, @stianwestlake, @macconwell, @flying_mom, @samirkaji, @rachaelrad, @dsquareddigest, @antoinegara, @dee_bosa, and @sarthakgh
| Michael Flaherty / Axios: |
More:
SVB Financial Group, TechCrunch, Crunchbase News, New York Times, and Reuters
Tweets:
@deitaone and @cgasparino
| 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.
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r/Android on Reddit, HotHardware, PetaPixel, Redmond Pie, 9to5Google, SlashGear, and The Register
Tweets:
@halidecamera, @fchollet, @raphaelmilliere, @sdw, @chrislintott, @somegadgetguy, @adrianhon, @halidecamera, @adrianhon, and @uwukko
| Kate Clark / The Information: |
Sources: Y Combinator will not raise another Continuity Fund, which backs late-stage startups, and the two partners who led the fund plan to leave the company — Silicon Valley startup accelerator Y Combinator won't raise another continuity fund, which backs mature private tech companies, two people familiar with the matter said.| 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.
Tweets:
@dimensionmedia
| STAT: |
Insurers are using unregulated predictive algorithms to pinpoint the precise moment when they can plausibly cut off payment for the treatment of older patients — An algorithm, not a doctor, predicted a rapid recovery for Frances Walter, an 85-year-old Wisconsin woman with a shattered left shoulder and an allergy to pain medicine.
Tweets:
@statnews, @michaelhoffman, @statnews, @dancow, @statnews, @manas8u, and @helenbranswell
| 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:
Cointelegraph, Decrypt, Gizmodo, Bloomberg, Cryptopolitan, crypto.news, Ethereum World News, SecurityWeek, and Cryptonews
Mastodon:
@lorenzofb@infosec.exchange. Tweets:
@eulerfinance, @peckshield, @zachxbt, @pcaversaccio, @peckshield, @degenspartan, @functi0nzer0, @crypto_mckenna, @mhonkasalo, @functi0nzer0, @0xtuba, @nomorebear, @lidofinance, @peckshield, @0xrooter, @yohangglobal, @mhonkasalo, @route2fi, and @frankresearcher
| Bloomberg: |
The end of SVB, Silvergate, the Silvergate Exchange Network, and Signature adds more stress to the crypto industry; fiat conversion costs may rise by 20% to 40% — The digital-asset market is coming off of a turbulent year featuring a number of high-profile blowups.
More:
Bloomberg, Decrypt, PYMNTS.com, CryptoPotato, Financial Times, and Coinspeaker
Tweets:
@coinbase, @twobitidiot, @tracyalloway, @timccopeland, @hsakatrades, @mayazi, @0xquit, @kamikaz_eth, @lyu_johnny, and @johnreedstark
| MacKenzie Sigalos / CNBC: |
| CNBC: |
More:
Reuters, FDIC, Department of Financial …, The Block, Gizmodo, Bloomberg, CBS News, New York Times, CoinDesk, Bitcoin News, Apricitas Economics, The Block, CoinGape, Neowin, MarketWatch, Decrypt, Cointelegraph, Coinspeaker, Inside Bitcoins, PYMNTS.com, Watcher Guru, Crypto Daily, VentureBeat, and crypto.news
Tweets:
@hfangca, @jchervinsky, @melt_dem, @josephzeballos, @twobitidiot, @thestalwart, @okcoin, @fdicgov, @davidkurten, and @tbr90
| 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.
More:
The Verge, Microsoft, Cloud Computing Services, BGR, Digital Trends, and Insider
Tweets:
@dinabass, @dinabass, @dinabass, @rustybrick, @brianroemmele, and @aparanjape
| CNBC: |
First Republic Bank's stock drops 61.83%, after falling 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 … Sponsor Posts
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SubQ Snap 1.1: the first long-context decision model for real enterprise work — Tied for #1 on the AA Decision Index, Snap is a multimodal model with a 384k-token context window for fast reasoning and agentic decisions.
SubQ Snap 1.1: the first long-context decision model for real enterprise work — Tied for #1 on the AA Decision Index, Snap is a multimodal model with a 384k-token context window for fast reasoning and agentic decisions.
Zoho:
How WCAG compliance makes modern workplaces more accessible — A workplace's approach to inclusivity starts with its everyday tools. Some of them can create barriers that inadvertently shut people out.
How WCAG compliance makes modern workplaces more accessible — A workplace's approach to inclusivity starts with its everyday tools. Some of them can create barriers that inadvertently shut people out.
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.
WebBrain:
WebBrain: an open-source AI agent for your browser — Read pages, fill forms and automate tasks in Chrome or Firefox. Use local models or your preferred AI provider. Get started free.
WebBrain: an open-source AI agent for your browser — Read pages, fill forms and automate tasks in Chrome or Firefox. Use local models or your preferred AI provider. Get started free.Featured Podcasts
Sources:
AWS CEO Matt Garman on building a $1 trillion business
Candid conversations with the leaders shaping what's next in AI and the broader tech industry. Hosted by Alex Heath, who has covered Silicon Valley for more than a decade.
Subscribe to Sources.
Cheeky Pint:
Nik Storonsky: The most uncompromising banking CEO
Stripe cofounder John Collison interviews founders, builders, and leaders over a pint.
Subscribe to Cheeky Pint.
Big Technology Podcast:
Jensen and The Honeypot
The Big Technology Podcast takes you behind the scenes in the tech world featuring interviews with plugged-in insiders and outside agitators.
Subscribe to Big Technology Podcast.
Lenny's Podcast:
Why PMs are suddenly valuable again | Tulsee Doshi (Head of Product, Gemini)
Interviews with world-class product leaders and growth experts to uncover actionable advice to help you build, launch, and grow your own product.
Subscribe to Lenny's Podcast.
Machine Gods:
The Purple Tsunami Against Data Centers
The official podcast of the singularity, from Casey Newton and Kevin Roose. Twice-weekly news, analysis, and interviews with the people who are building the future.
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Invest Like the Best:
Ramtin Naimi - The State of Venture
The leading destination to learn about business and investing. We do this by showcasing exceptional talent and ideas.
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