|
March 12, 2023, 6:00 PM
|
Mediagazer
memeorandum
WeSmirchTop News
| Washington Post: |
Sources: US officials are considering the extraordinary step of protecting all uninsured SVB deposits if the FDIC is unable to find a buyer for the failed bank — Extraordinary step eyed if plan fails to sell the failed bank to another institution — Federal authorities …
More:
CNBC, The Hill, Decrypt, San Francisco Business Journal, Insider, Politico, Noahpinion, Fortune, Andrew's Substack, and Bloomberg
| Matthew Monks / Bloomberg: |
Sources: the FDIC kicked off an auction process late on March 11 for SVB, with final bids due by 2pm EST on March 12; it's possible that no deal will be reached — The Federal Deposit Insurance Corp. kicked off an auction process late Saturday night for Silicon Valley Bank …
More:
Wall Street Journal, The Hill, The Verge, Insider, Axios, NBC News, Cointelegraph, CNBC, TechCrunch, The Block, Bitcoin News, and Axios
Tweets:
@jason, @davidsacks, @ddayen, @mattyglesias, @aduehren, @dalperovitch, @jamesgrickards, @danprimack, @senatorhagerty, @anandwrites, @joshtpm, @convertbond, @iamjakestream, @jamessurowiecki, @cloud_opinion, @mattocko, @monikabauerlein, @felixsalmon, @samirkaji, @oneunderscore__, @danprimack, @business, @autismcapital, @mayazi, @professorstam, @pt, @migueldeicaza, @hankgreen, @mamoonha, @danprimack, @vinnylingham, @kenklippenstein, @rlove, @hugh_son, @carnage4life, and @davidsirota
| CBS News: |
Q&A with US Treasury Secretary Janet Yellen on SVB: we are trying to meet depositors' needs and are not looking to bail out large banks' investors and owners — The following is a transcript of an interview with Treasury Secretary Janet Yellen that aired on “Face the Nation” on Sunday, March 12, 2023.
More:
On my Om, Financial Times, Axios, Associated Press, Reuters, The Hill, CoinDesk, Washington Examiner, Decrypt, Cointelegraph, Livemint, The Guardian, Washington Post, The Daily Hodl, TIME, Monday Morning Economist, Reuters, Politico, Bloomberg, Slashdot, New York Post, Reuters, Bitcoin News, New York Times, crypto.news, CNN, Cryptopolitan, Bloomberg, and TechCrunch
Tweets:
@cornelialake, @ashleymayer, @sama, @thestalwart, @davidsacks, @felixsalmon, @danprimack, @whstancil, @whstancil, @cloud_opinion, @spencerjcox, @pt, @w7voa, @taylorlorenz, @cz_binance, @bio_clouseau, @modestproposal1, @pt, @digitalassetbuy, @elerianm, @seyitaylor, @scottmelker, @ericnewcomer, @flitteronfraud, @rustybrick, @cloud_opinion, @davidgura, @sarthakgh, @gregosuri, @xrpcryptowolf, @jason, @bobeunlimited, @om, @samirkaji, @allnick, @amasad, @mgsiegler, @benedictevans, @jennablan, @profgalloway, @kylieatwood, @danprimack, and @danielagabor
| Financial Times: |
Sources: the UK is seeking a buyer for SVB's British arm, which had nearly £7B in deposits on March 10, with an UAE-based company as the “lead white knight” — ‘Lead white knight’ eyeing British arm of tech lender that had billions in deposits| Bloomberg: |
Sources: the FDIC is racing to sell SVB's assets and make 30% to 50% or more of clients' uninsured deposits available via an initial payment as soon as March 13 — US regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion …
More:
CNBC, PYMNTS.com, Reuters, Los Angeles Times, CNN, The Grumpy Economist, New York Post, Finbold, and Livemint
Mastodon:
@lcamtuf@infosec.exchange. Tweets:
@mittromney, @carnage4life, @heydavidlee, @matthewstoller, @frances_coppola, @nkulw, @bijans, @yoda, @ellebeyoud, @davemcclure, @noahpinion, and @alistairmbarr
| Lauren Tara LaCapra / The Information: |
Sources: regional banks are the likeliest bidders to prevail in the sale process for Silicon Valley Bank, not “too big to fail” banks like JPM or BoA — Regional banks are the likeliest bidders to prevail in the sale process for Silicon Valley Bank, people familiar with the matter said …
More:
Bloomberg. Tweets:
@apartovi, @jessicalessin, @davidmarcus, @balajis, @danprimack, and @kateclarktweets
| Om Malik / On my Om: |
More than a bailout, SVB needs a white knight, someone who can come in and take over the bank that has been at the heart of the US innovation economy — After three decades of being part of the Silicon Valley ecosystem — as a reporter, writer, entrepreneur, and investor — I thought I had seen it all.
More:
Wall Street Journal, Cryptopolitan, and The Economic Times
Tweets:
@rachelensignwsj, @jeff, @shripriya, @arpitrage, @markmobility, @salimismail, @washingtonpost, @tphillips, @kfile, @gzuckerman, @samidhas, @kevinokeefe, and @metacurity
| Bloomberg: |
SVB draws support from 500+ VCs, including General Catalyst and Sequoia, while 5,000+ founders and CEOs sign a Y Combinator petition asking US Congress to act — More than 100 venture capital and investing firms have signed a statement supporting Silicon Valley Bank, part of mounting industry calls …
More:
Bloomberg, The Information, Y Combinator Blog, Financial Times, Financial Times, TechCrunch, Fortune, Cointelegraph, Cryptonews, The Economic Times, Livemint, and Arthuriana
Tweets:
@htaneja, @paulg, @micsolana, @reprokhanna, @davidsacks, @grdecter, @photomatt, @jeiting, @erikvoorhees, @ryangrim, @marxgasol, @joshsteinvc, @ryangrim, @pt, @tomcoates, @quinneyeq, @cloud_opinion, @tfadell, @_jeremyflores, @jeffnolan, @ksimm, @antoinegara, @bigblackjacobin, @tolstoybb, @peterkolchinsky, @twobitidiot, @crv, @jefielding, @amuse, @bradsilverberg, @charlesarthur, @deitaone, @mattocko, @teroterotero, @m2jr, @davidgerard, @mansourtarek_, @quinneyeq, @katie_roof, @kevinrose, @can, @paulg, @ranjanxroy, and @ronconway
| TechCrunch: |
More:
New York Times, Washington Post, PCMag, The Economic Times, Livemint, Matthew's Newsletter, and Bloomberg
Tweets:
@billackman, @garrytan, @davidsacks, @ddisparte, @garrytan, @garrytan, @om, @fordm, @eric_seufert, @aoc, @rokhanna, @ericnewcomer, @jenn_elias, @jenn_elias, @nikitabier, @karaswisher, @dflieb, @brianbrackeen, @fluentinfinance, @scobleizer, @kylebrussell, @vkhosla, @om, @valaafshar, @buccocapital, @epsilontheory, @silvermanjacob, @clarajeffery, @modestproposal1, @livefromvr, @semaforben, @danprimack, @kateclarktweets, @pt, @howardlindzon, @__aston__, and @wolfejosh
| Semafor: |
More:
Financial Times and Insider
| Matt Levine / Bloomberg: |
More:
Financial Times, Forbes, Monomythical, Associated Press, The Verge, Apricitas Economics, Chris's Substack, Livemint, Rami's Readings, Los Angeles Times, Cryptopolitan, The Trading Tank, New York Times, and CNBC
Tweets:
@billackman, @bobeunlimited, @garrytan, @altcap, @aoc, @garrytan, @mcuban, @mcuban, @davidu, @dalperovitch, @thechrisbuskirk, @sahilkapur, @sashworthhayes, @billackman, @nic__carter, @dicktofel, @gavinsbaker, @normornstein, @moorehn, @sullycnbc, @flitteronfraud, @paulkrugman, @roybahat, @rauchg, @peterfenton, @jhweissmann, @mattyglesias, @tomaxwell, @ditzkoff, @jessefelder, @willjfang, and @anandwrites
| Financial Times: |
Sources: Tim Cook has pressed ahead with an MR headset debut in 2023, overruling Apple designers who wanted to wait until the tech catches up with their vision — New launch will be first steered entirely by CEO and under direction of operations team — When Tim Cook unveils Apple's new …
More:
iClarified, iThinkDifferent, AppleInsider, Wccftech, and Patently Apple
Tweets:
@jetscott, @markgurman, @leakerapple, @binocularity, and @scobleizer
| Mark Gurman / Bloomberg: |
A look at the unprecedented level of executive turnover at Apple, which lost 11 key people, most just below Senior Vice President, since the second half of 2022 — Apple is facing an unprecedented wave of executive departures. Also: The company will shake up its sales operations with a focus on India … | John Sakellariadis / Politico: |
Worried that cloud giants offer concentrated hacking targets, the US plans to regulate the security practices of Amazon, Microsoft, Google, Oracle, and others — Governments and businesses have spent two decades rushing to the cloud — trusting some of their most sensitive data to tech giants …
More:
Investor's Business Daily. Tweets:
@johnnysaks130, @quinnypig, @swagitda_, @xxcurt2905xx, @dangoldin, @vxzulu, and @politicoeurope
| Ben Cohen / Wall Street Journal: |
A look at Bring a Trailer, a classic car blog from 2007 that became a marketplace, facilitated $1.37B in 2022 sales, and held its 100,000th auction on March 7 — Bring a Trailer is where obsessives buy, sell and geek out over classic cars. The company pops open its hood after 100,000 auctions to explain why.
Tweets:
@wsj, @chicagobooth, and @tomgara
| Frank Chaparro / The Block: |
Circle says $3.3B of its ~$40B USDC reserves remain at Silicon Valley Bank and that the crypto payments firm will follow state and federal regulators' guidance — - After being largely silent on Friday, Circle said it has $3.3 billion in exposure to Silicon Valley Bank …
More:
Circle Blog, PYMNTS.com, Decrypt, Euphoric, The Information, Inside Bitcoins, Bitcoinist.com, CryptoGlobe, and CNBC
Tweets:
@binance, @jerallaire, @circle, @silvermanjacob, @wublockchain, @evgenygaevoy, @kobeissiletter, @adamscochran, @ddisparte, @mariuscrypt0, and @mikeisaac
| Bloomberg: |
More:
Decrypt, The Guardian, CoinDesk, Cryptonews, ZyCrypto, CryptoPotato, Unbank Space, and Inside Bitcoins
Tweets:
@coinbase, @viktorbunin, @coinbase, and @matthew_d_green
Sponsor Posts
Google:
Try Gemini 3 Pro — Google's newest and most intelligent AI model that helps you bring any idea to life
Try Gemini 3 Pro — Google's newest and most intelligent AI model that helps you bring any idea to life
Shopify:
Transform ML Experimentation with Tangle — Save months of compute time with Tangle, built by Shopify. Try this open-source platform to simplify ML workflows, ensure reproducibility, and seamlessly share with collaborators.
Transform ML Experimentation with Tangle — Save months of compute time with Tangle, built by Shopify. Try this open-source platform to simplify ML workflows, ensure reproducibility, and seamlessly share with collaborators.
Zoho:
Contract Signed. Project Ready. Tasks Created. — Every project begins with a promise; a contract that outlines the deliverables, the timelines, and the terms. But for most businesses …
Contract Signed. Project Ready. Tasks Created. — Every project begins with a promise; a contract that outlines the deliverables, the timelines, and the terms. But for most businesses …
Bitrix24:
Bitrix24 powers the next generation of high-performing businesses — Chat, projects, CRM, and automation — all in one place. Replace dozens of tools so your team moves faster, collaborates smarter, and grows effortlessly.
Bitrix24 powers the next generation of high-performing businesses — Chat, projects, CRM, and automation — all in one place. Replace dozens of tools so your team moves faster, collaborates smarter, and grows effortlessly.
IDrive:
Protecting your Cloud Applications Data — Backing up Office 365, Google Workspace, Dropbox & Box 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 & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.Featured Podcasts
Hard Fork:
OpenAI Calls a 'Code Red' + Which Model Should I Use? + The Hard Fork Review of Slop
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.
Access:
Is Roblox making the internet better or worse? We asked the CEO
A show about the tech industry's inside conversation, hosted by tech reporter Alex Heath and founder whisperer Ellis Hamburger.
Subscribe to Access.
Decoder with Nilay Patel:
Anthropic's quest to study the negative effects of AI is under pressure
A show from the Verge about big ideas - and other problems.
Subscribe to Decoder with Nilay Patel.
Lenny's Podcast:
Why LinkedIn is turning PMs into AI-powered "full stack builders" | Tomer Cohen (LinkedIn CPO)
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.
Great Chat:
Code red: our favorite tech rivalries
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.
Big Technology Podcast:
How An AI Model Learned To Be Bad — With Evan Hubinger And Monte MacDiarmid
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.
About This Page
This is a Techmeme archive page. It shows how the site appeared at 6:00 PM ET, March 12, 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
The Guardian:David Pierce / The Verge:
Mark Stenberg / Adweek:
Upcoming Tech Events
More News
| Marie Woolf / Globe and Mail: |
More:
iPhone in Canada Blog. Tweets:
@glenngabe, @indubitablytho, @johnwilson, @yoda, @melissambarki, and @justinhendrix