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March 13, 2023, 5:15 AM
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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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Mastodon:
@alex@cybervillains.com and @DataDrivenMD@fedified.com
Tweets:
@cz_binance, @jerallaire, @potus, @potus, @nicktimiraos, @vcbrags, @neil_irwin, @bobeunlimited, @jason, @federalreserve, @zck, @chrisjbakke, @thestalwart, @rajakorman, @elaifresh, @mbensass, @m_c_klein, @m_c_klein, @octal, @levie, @billackman, @karaswisher, @deanobeidallah, @levie, @paulmitchell_ab, @martinsfp, @jacobtamme, @lizrhoffman, @ericnewcomer, @eugenewei, @chrisalbon, @mgsiegler, @callumj, @ljxie, @tculpan, @silvermanjacob, @amlivemon, @karaswisher, @repsarajacobs, @axios, @garrytan, @ericnewcomer, @anthony, @jeffreyatucker, @georgegammon, @reprokhanna, @petercontibrown, @ericnode, @carnage4life, @kevinrose, @ericnewcomer, and @mhelft
| 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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| 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 …
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| Bloomberg: |
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| 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 …
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Mastodon:
@davidgerard@circumstances.run and @heidilifeldman@mastodon …
| 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.
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| Austin Weinstein / Bloomberg: |
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@chrisjbakke, @rakeshlobster, and @herbgreenberg
| 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 …
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MacRumors, 9to5Mac, PhoneArena, iClarified, iPhone in Canada Blog, Cult of Mac, BigTechWire, MIXED Reality News, AppleInsider, Wccftech, Patently Apple, and iThinkDifferent
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@andrewjscott, @jetscott, @leakerapple, @markgurman, and @binocularity
| 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.
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GOOD INTERNET, Simon Willison: TIL, and Advantageous Insights
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@simon@fedi.simonwillison.net. Tweets:
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| 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 …
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MacRumors, AppleInsider, Mashable, and Wccftech
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@ashleygjovik, @markgurman, and @brianroemmele
| Antoine Gara / Financial Times: |
US private equity firm Silver Lake and Canada's largest pension fund plan to acquire Qualtrics for $12.5B, or $18.15 per share, as SAP divests its 71% stake — Buyout with Canada's largest pension fund is expected to be one of biggest this year — US private equity group Silver Lake … | 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 … | Tate Ryan-Mosley / MIT Technology Review: |
Q&A with Meredith Broussard, a leading researcher of algorithmic bias, on her book More than a Glitch, which looks at the harms of applying AI to social issues — Meredith Broussard argues that the application of AI to deep-rooted social problems is already producing disastrous results.
Tweets:
@seoscottsdale
| 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
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