Open Links In New Tab
Mobile Archives Advertise Site News Contact Editors
Techmeme
March 10, 2023, 9:30 PM
Mediagazer memeorandum WeSmirch
Home River Leaderboards About Events Newsletter

Top News

CNBC:
California regulators close SVB and name the FDIC as the receiver to protect insured deposits; SVB ended 2022 with ~$209B in assets and $175.4B in deposits  —  Financial regulators have closed Silicon Valley Bank and taken control of its deposits, the Federal Deposit Insurance Corp. announced Friday …
More: FDIC, Wall Street Journal, New York Times, The Department …, Bloomberg, Newcomer, The Wrap, ZeroHedge, The Information, Associated Press, TechCrunch, PYMNTS.com, Bloomberg, Financial Times, CoinDesk, CNN, Fortune, TechCrunch, Sifted, The Verge, CoinDesk, Reuters, Insider, Watcher Guru, TechCrunch, CNBC, Joseph's Thoughts, Sifted, Globe and Mail, CoinJournal, Associated Press, CryptoSlate, Newcomer, Livemint, MARK MCQUEEN'S BLOG, Fortune, Newser, Ethereum World News, Heretic Speculator, Finextra, New York Post, dot.LA, WRAL TechWire, Crunchbase News, and Investor's Business Daily
LinkedIn: Arjun Sethi, Scott Albro, John Stepek, Brian Gong, Eunice Ajim, and Sahil Mansuri
Mastodon: @dymaxion@infosec.exchange, @Popehat@mastodon.social, @mattblaze@federate.social, @ummjackson@mastodon.social, @briankrebs@infosec.exchange, @nikhileshde@journa.host, @dangillmor@mastodon.social, @ummjackson@mastodon.social, @maria@thelife.boats, @srepetsk@social.ridetrans.it, @wbm312@infosec.exchange, @wbm312@infosec.exchange, @wbm312@infosec.exchange, @fj@mastodon.social, @ddayen@mastodon.online, @steventdennis@journa.host, @ukuku@mstdn.social, and @downey@floss.social
Tweets: @grdecter, @parkerconrad, @bhargreaves, @bhargreaves, @repswalwell, @lulumeservey, @fdicgov, @thestalwart, @roshanpatei, @unusual_whales, @tier10k, @tier10k, @robblackwellab, @cramertracker, @garrytan, @ericnewcomer, @justinwolfers, @apatelthompson, @oneunderscore__, @alexandrascaggs, @zerohedge, @alistairmbarr, @thetranscript_, @nikitabier, @ellebeyoud, @brendanpedersen, @wallstcynic, @watcherguru, @shaig, @alexrkonrad, @jeffjohnroberts, @xenollamas, @cz_binance, @jsrailton, @dancow, @twobitidiot, @nmasc_, @ericnewcomer, @danprimack, @kevinyun, @immad, @jamespmcleod, @cjc, @brianroemmele, @amitranjan, @justinwolfers, @adamscochran, @kashhill, @edzitron, @alistairmbarr, @hugh_son, @tracyalloway, @erikvoorhees, @jenwieczner, @regulatorynerd, @jessicalessin, @smtuffy, @chopracfpb, @amir, @jasondebolt, @goldman, @marietjeschaake, @adamscochran, @mikeisaac, @thebondfreak, @wideofthepost, @jason, @zachweinberg, @byclairew, @0xc0le, @stevenkelly49, @anthony, @parikpatelcfa, @pinboard, @kgreifeld, @sruhle, @jamesgrickards, @thresh, @litcapital, @ow, @lopp, @cate_long, @kendrawrites, @thebondfreak, @brendanpedersen, @52kskew, @pitdesi, @grdecter, @msuster, @packym, @bigblackjacobin, @hhorsley, @semil, @shaig, @bhargreaves, @modestproposal1, @sifill_, @jasonzweigwsj, @danprimack, @pt, @bucknsf, @flying_mom, @bondhack, @nicoleperlroth, @scobleizer, @max_fisher, @johnpaczkowski, @justinwolfers, @oxdeadbeef_, @bhargreaves, @mikebutcher, @stshank, @schuldensuehner, @teroterotero, @mvpeers, @jamesclayton5, @msuster, @jp_koning, @shonaghosh, @bhargreaves, @film_girl, @lulumeservey, @startupljackson, @jonwu_, @josh_young_1, @rickasaurus, @scobleizer, @ciovaccocapital, @tier10k, @film_girl, @applehelix, @antoniogm, @dkthomp, @gunjanjs, @cfarivar, @thestalwart, @eperlste, @shaig, @bamabonds, @acityinohio, @jeffreyatucker, @maxkennerly, @iwriteok, @ellenhuet, @carnage4life, @espiers, @nickatfp, @jessicalessin, @danprimack, @charlesarthur, @hannahdlang, @davetroy, @fvogelstein, @dnak, @twobitidiot, @fdicgov, @brendanpedersen, @ruima, @elidourado, @growing_daniel, @business, @heylizelle, @adamscochran, @jgreco, @mikeisaac, @arlanwashere, @kateclarktweets, @katienotopoulos, @functi0nzer0, @pkedrosky, @arrington, and @californiadfpi
Matt Levine / Bloomberg:
As the “Bank of Startups”, Silicon Valley Bank collapsed from its exposure to interest-rate risk, a lack of diversity among depositors, and VC herd mentality  —  Programming note: Money Stuff was supposed to be off today, but: bank run!  —  SVB
Marc Rubinstein / Net Interest:
A closer look at the collapse of Silicon Valley Bank, the 16th largest US bank whose unrealized losses snowballed from $0 in June 2021 to $16B by September 2022  —  The Rapid Collapse of the 16th Largest Bank in America  —  “When you're not working, what do you do to de-stress?”
TechCrunch:
How startup founders are reacting to Silicon Valley Bank's collapse, as some worry about frozen funds, operating expenses, and paying employees full salaries  —  Engineers at Polymath Robotics were working late Wednesday night on multiple projects when co-founder and CEO Stefan Seltz-Axmacher noticed chatter …
Todd Spangler / Variety:
Filing: Roku held ~26% of its $1.9B in cash and equivalents at SVB, “largely uninsured”, and says the remaining amount will be sufficient for at least 12 months  —  About one-fourth of Roku's cash and equivalents — nearly half a billion dollars — has been held in Silicon Valley Bank …
Krisztian Sandor / CoinDesk:
Circle's USDC sees $1B in net redemptions since SVB's shutdown and is slightly depegged, after Circle said SVB is one of six banks managing USDC cash reserves  —  Stablecoin issuer Circle held an undisclosed amount of USDC's cash reserves at now-failed Silicon Valley Bank.
Dan Primack / Axios:
The FDIC says SVB clients with deposits above $250K will get “an advance dividend within the next week”; many SVB clients need to meet their payroll on March 15  —  The U.S. government on Friday assumed control of Silicon Valley Bank and its billions of dollars in customer deposits …
Lizette Chapman / Bloomberg:
VC firm Greenoaks warned its founders of potential problems at Silicon Valley Bank in a November 2022 email; a source says 12+ portfolio startups withdrew ~$1B
Chris Stokel-Walker / Wired:
Leaked docs: Twitter's API access Enterprise Packages start at $42K/month for 50M tweets, or ~0.3% of its monthly output, 25K filters, and 50K archive queries  —  Tiers will start at $500,000 a year for access to 0.3 percent of the company's tweets.  Researchers say that's too much for too little data.
Wall Street Journal:
Sources: Meta plans multiple rounds of layoffs over the coming months that in total would be roughly the same magnitude as its ~13% cut in November 2022  —  New layoffs at Meta Platforms would follow cuts of around 11,000 employees started last year  —  Facebook-parent Meta Platforms Inc …
Casey Newton / Platformer:
Meta is exploring a standalone decentralized social network for sharing text updates; the app, codenamed P92, will reportedly let users log in with Instagram  —  Is this the Twitter replacement we've been waiting for? … Twitter's decline is paving the way for other platforms to build next-generation replacements.

Sponsor Posts

Subquadratic:
Subquadratic: the LLM built for 12M-token reasoning  —  SubQ can reason across entire codebases and document sets in one pass with no RAG workarounds.  Read how SubQ 1.1 Small holds near-perfect retrieval out to 12M tokens.
Cape:
Most carriers track everything.  Cape doesn't.  —  Unlimited talk, text & data, 24-hr metadata deletion, network ID rotation, SIM-attack defense, and more.  Switch today and get 29% off for life.
Zoho:
Do you need a Zoho Partner?  Here's why working with one can benefit you.  —  Zoho offers over 60 applications, each one built for a unique use case.  From sales and marketing to finance, HR, and customer support …
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.
Sponsor Techmeme

Featured Podcasts

The Talk Show With John Gruber:
 'What's in Louie's Wallet', With Louie Mantia
The director's commentary track for Daring Fireball. Long digressions on Apple, technology, design, movies, and more.
Subscribe to The Talk Show With John Gruber.
Big Technology Podcast:
 Leopold Blows Up, OpenAI Drastically Cuts Prices, Microsoft's Best Day
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.
Hard Fork:
 Open Model Wars + Claire Stapleton's Dishy Google Memoir + Substack's Slop Fight
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.
Subscribe to Hard Fork.
Great Chat:
 Tech's short-term era
A podcast mostly about tech. Brought to you weekly by Angela Du, Sally Shin, Mac Bohannon, Helen Min, and Ashley Mayer.
Subscribe to Great Chat.
Access:
 Meet the most AI-pilled CEO on Earth
A show about the tech industry's inside conversation, hosted by tech reporter Alex Heath and founder whisperer Ellis Hamburger.
Subscribe to Access.
Tools and Weapons with Brad Smith:
 Connecting the Unconnected: Doreen Bogdan-Martin
Microsoft Vice Chair and President Brad Smith speaks with leaders in government, business, and culture to explore the most critical challenges at the intersection of technology and society.
Subscribe to Tools and Weapons with Brad Smith.
Add your podcast here
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 9:30 PM ET, March 10, 2023.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Nancy Scola / Washingtonian:
A deep look at FCC Chairman Brendan Carr's moves favoring the Trump administration; former chair Tom Wheeler warns against the agency becoming a political tool

Lucia Moses / Business Insider:
WaPo opinion editor Adam O'Neal says he's stepping down after a year in the role; his hiring was part of a push to promote “personal liberties and free markets”

Stephen Council / Business Insider:
Sensor Tower estimate: ChatGPT advertisers grew from around 300 in April to more than 820 in July; retail shopping remains the biggest sector by ad spend

More News

Earlier Picks

Filipe Espósito / 9to5Mac:
Kuo: Apple plans to unveil a redesigned HomePod with a built-in 7-inch display in H1 2024, enabling tighter integration with Apple's other hardware products
CoinDesk:
New York's AG sues KuCoin, alleging the Seychelles-based crypto exchange offers tokens, such as ETH, that meet the definition of a security, without registering
Mediagazer memeorandum WeSmirch
Home River Leaderboards About Events Newsletter