Techmeme
March 13, 2023, 3:00 PM

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 …, The White House on YouTube, CNBC, FDIC, Circle, Stratechery, CNN, Bloomberg, CoinDesk, HotHardware, The Hill, PYMNTS.com, SVB Financial Group, Wired, GeekWire, DL News, Crunchbase News, Decrypt, National Review, Quartz, CryptoSlate, Blockworks, Wall Street Journal, Bitcoinist.com, Technical.ly, Rate of Return, NBC News, NFT Evening, Inside Bitcoins, DealStreetAsia, Axios, CNBC, Reuters, New York Post, CoinDesk, crypto.news, THE LOGUE, MediaNama, New York Times, Fortune, Coinpedia Fintech News, Coinspeaker, Bloomberg, Tech Startups, Cryptopolitan, Axios, NewsBTC, #OONO, Cryptonews, and CryptoPotato
LinkedIn: Janet Mui and Dror Futter
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.
Iain Withers / Reuters:
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
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.
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 …
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.
MacKenzie Sigalos / CNBC:
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.
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.

Sponsor Posts

Clay:
Turn any GTM idea into reality  —  Clay helps GTM teams combine AI agents, enrichment, and intent data to move faster and turn insights into action.
Soxton:
AI-powered law for startups  —  Soxton automates startup legal so founders can move faster and sleep better.  We handle incorporation, advisor, employment and commercial contracts.  Join the waitlist for early access!
Zoho:
8 years of PageSense: Introducing PageSense 3.0  —  PageSense was built eight years ago with a simple goal: to help businesses understand user behavior and improve conversion outcomes through experimentation.
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.

Featured Podcasts

Great Chat:
No one won the AI Bowl
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:
Who's Winning The AI Race? + Software's Future — With Sridhar Ramaswamy
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.
Channels with Peter Kafka:
How Odd Lots' Joe Weisenthal Turned Curiosity Into a Career, and a Hit Podcast
Media and tech aren't just intersecting - they're fully intertwined. To understand how those worlds work, Peter Kafka talks to industry leaders, upstarts and observers.
Subscribe to Channels with Peter Kafka.
Access:
OpenAI's Fidji Simo on why ads are coming to ChatGPT
A show about the tech industry's inside conversation, hosted by tech reporter Alex Heath and founder whisperer Ellis Hamburger.
Subscribe to Access.
Invest Like the Best:
Alex Behring and Daniel Schwartz - Inside 3G Capital
The leading destination to learn about business and investing. We do this by showcasing exceptional talent and ideas.
Subscribe to Invest Like the Best.
Tools and Weapons with Brad Smith:
Special Edition: Key findings from the Microsoft AI Diffusion Report
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.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 3:00 PM 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

Ezra Klein / New York Times:

Earlier Picks