Techmeme
March 13, 2023, 3:25 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 …, CNBC, The White House on YouTube, Circle, FDIC, Stratechery, CNN, Bloomberg, PYMNTS.com, CoinDesk, HotHardware, The Hill, Wired, GeekWire, National Review, DL News, Crunchbase News, Quartz, CryptoSlate, Wall Street Journal, Decrypt, Bitcoinist.com, Blockworks, Technical.ly, Rate of Return, NBC News, Cointelegraph, Inside Bitcoins, DealStreetAsia, Axios, CNBC, Reuters, CoinDesk, crypto.news, THE LOGUE, NFT Evening, New York Post, MediaNama, New York Times, Fortune, Coinpedia Fintech News, Coinspeaker, Tech Startups, Cryptopolitan, Axios, NewsBTC, #OONO, Cryptonews, CryptoPotato, and Protos
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:
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

Termina:
AI Powered Diligence at Scale  —  VCs and founders deploy Termina AI Scans on >12% of all known series A+ deals to uncover hidden risks and opportunities.  Explore how you too can invest and build better companies with AI.
Zoho:
How does live chat work?  —  If you're an online business operating through websites or instant messaging/social media platforms, regardless of your industry, you need a way to connect with your visitors.
SBS Comms:
Expect Better: SBS Comms  —  The media landscape is changing fast, so don't be slow — out with the old, in with the new.  SBS helps tech companies like GitHub, Cloudflare, Flexport, Ramp and more modernize comms and secure impactful results.
Techmeme Leaderboards:
Discover the top reporters on AI, VR, policy, and much more  —  We've analyzed Techmeme's news crawl to identify the most influential and prolific writers on 48 news topics.  Download reports immediately for just $100.

Featured Podcasts

Grit:
Former CEO Activision Blizzard, Bobby Kotick w/ Bing Gordon: Change the Game
Grit explores what it takes to create, build and scale world-class organizations.
Subscribe to Grit.
Lenny's Podcast:
OpenAI researcher on why soft skills are the future of work | Karina Nguyen (Research at OpenAI, ex-Anthropic)
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.
Techmeme Ride Home:
(Omnibus) Week Of 02/03/2025
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe to Techmeme Ride Home.
The Logan Bartlett Show:
Matt Mullenweg (Co-Founder WordPress): WordPress Controversy, Future of Open Source AI, and Navigating Backlash
A podcast hosted by Logan Bartlett, an investor at Redpoint Ventures, covering tech with industry insiders.
Subscribe to The Logan Bartlett Show.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 3:25 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

Antoine Gara / Financial Times: