March 13, 2023, 5:25 AM

Top 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 …, Wall Street Journal, CNBC, CNN, Bloomberg, Circle, Reuters, National Review, Bloomberg, Bloomberg, NBC News, Cointelegraph, Axios, Reuters, Fortune, Financial Times, Engadget,, TechCabal, Coinpedia Fintech News, THE LOGUE, Metaverse Post, MarketWatch, Watcher Guru, CryptoSlate, Noahpinion, Livemint,, Forkast, HN Digest, Crowdfund Insider, The Register, CoinJournal, All Facts Matter, SlashGear, SiliconANGLE, Politico, Decrypt, Variety,, Bloomberg, CryptoGlobe, Tech Startups, DealStreetAsia,, Insider, The Verge, Bitcoin News, Smoke Signal, CryptoPotato, CoinDesk, The Global Macro Trader, The Hill, Cryptopolitan, San Francisco Business Journal, Crunchbase News, iTnews, TechCrunch, Finbold, Deadline, Slashdot, Today's Edition Newsletter, and
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.
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 …
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 …
MacKenzie Sigalos / CNBC:
Signature's closure means real-time payment platform Signet is no longer serving crypto clients, following Silvergate's SEN; BTC is up ~7% and USDC regains peg  —  - Silvergate and Signature were the two main banks for crypto companies, while Silicon Valley Bank had a lot of crypto startups and VCs as customers.
Austin Weinstein / Bloomberg:
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 …
Simon Willison / Simon Willison's Weblog:
A developer runs Meta's 13B LLaMA model, considered to be competitive with GPT-3, on his laptop, showing local language models are feasible on consumer hardware  —  The open release of the Stable Diffusion image generation model back in August 2022 was a key moment.
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 …
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 …
State media: China appoints Zhang Xin to lead its state-backed chip investment fund, known as the Big Fund, seeking to counter US-led sanctions on its industry  —  China has assigned a new chief for a high-profile, state-backed chip investment fund amid a renewed push to pour resources …
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 …

Sponsor Posts
Free compensation benchmarking data from 3,000 startups  —  Search by job title and get FREE access to market pay data.  Paid version helps HR teams automate comp reviews and communicate total compensation to employees.
Personalized wealth management, built for tech people  —  Managing your finances and taxes is complicated.  Compound is how people at companies like Stripe, OpenAI, and Discord make smart decisions about their money.
The first AI navigator for your entire network  —  Nexus is the first AI navigator with context of all your relationships (LinkedIn, email, and more).  The perfect reconnection email, gift idea, and more is a question away.
End-to-end compliance with Zoho Books: Elegantly navigating the financial labyrinth of Corporate Tax in UAE  —  Navigating the tax landscape in the United Arab Emirates can be a complex affair, demanding precision and adherence to local regulations.
Techmeme Ride Home:
(IHP) The History Of Google Parts 1 And 2
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.

About This Page

This is a Techmeme archive page. It shows how the site appeared at 5:25 AM ET, March 13, 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.

More News

Marie Woolf / Globe and Mail:

Earlier Picks