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March 15, 2023, 3:35 PM
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Wall Street Journal:
As SVB collapsed, prominent investors, internet provocateurs, and others helped fuel concerns over the US banking system, creating a “Twitter-fueled bank run”  —  Rapid spread of concerns prompts lawmaker to call it ‘Twitter-fueled bank run’  —  The Collapse of Silicon Valley Bank: What You Need to Know
Emily Flitter / New York Times:
A profile of Tim Mayopoulos, named by the FDIC as the CEO of Silicon Valley Bridge Bank, who was BofA's general counsel during the 2008 financial crisis  —  The F.D.I.C. named Tim Mayopoulos as chief executive of Silicon Valley Bridge Bank.  His job is to keep calm and carry on.
Washington Post:
Interviews with 20 people detail the Biden admin's response to SVB's and Signature's collapse, as tech executives and investors lobbied to protect all deposits
Maureen Farrell / New York Times:
SVB's collapse is a tale of ambition, management mistakes, and focusing on innovation over the mundane work of managing risk and ensuring financial prudence
New York Times:
How Apple's Siri, Amazon's Alexa, and Google's Assistant fell behind in the AI race despite a decade head start, hampered by clunky design and miscalculations  —  The virtual assistants had more than a decade to become indispensable.  But they were hampered by clunky design and miscalculations, leaving room for chatbots to rise.
Kyle Wiggers / TechCrunch:
An interview with OpenAI co-founder Greg Brockman on GPT-4 being “different” to GPT-3, training on images and text, a “slow and intentional” rollout, and more  —  OpenAI shipped GPT-4 today, the much-anticipated text-generating AI model, and it's a curious piece of work.
Yusuf Mehdi / Bing Blogs:
Microsoft says the new Bing is “running on GPT-4, which we've customized for search” and was using an early version of the model over the past five weeks
Max Abelson / Bloomberg:
How Signature Bank's big pivot to crypto led to the downfall of the once successful old-school lender that survived doing business with NYC cab owners and Trump  —  Signature Bank was flying high when co-founder Scott Shay mused about success on a podcast early last year.
Bloomberg:
Sources: the US DOJ was investigating Signature Bank's crypto client work, including its money laundering detection efforts, before regulators seized the bank  —  US prosecutors were investigating Signature Bank's work with crypto clients before regulators suddenly seized the lender this past weekend …
Sergiu Gatlan / BleepingComputer:
Microsoft patches an Outlook zero-day, exploitable without user interaction, that the company says Russian hackers used to target European organizations in 2022  —  Microsoft has patched an Outlook zero-day vulnerability (CVE-2023-23397) exploited by a hacking group linked …
Jonathan Stempel / Reuters:
The US charges exiled Chinese businessman Guo Wengui with leading a conspiracy to defraud his online followers out of $1B+ and arrests him; the DOJ seizes $634M  —  The U.S. government on Wednesday charged exiled Chinese businessman Guo Wengui with fraud, accusing him of orchestrating …
Paul Murray / New York Magazine:
A journey into Meta's Horizon Worlds to find friends and metaverse true believers, raising questions about Zuckerberg's vision of the internet's next iteration  —  In September, my family and I move from our home in Dublin to a fancy East Coast college town, where I'll be teaching for the semester.
Umar Shakir / The Verge:
Zipline unveils Platform 2 Zip, a drone that can do a 10-mile delivery in 10 minutes to small landing zones via a tethered “delivery droid” from up to 300 feet  —  Zipline is revealing its new drone delivery platform today that the company says is capable of making a 10-mile delivery …
Bloomberg:
T-Mobile plans to acquire Ryan Reynolds-backed budget wireless provider Mint Mobile for as much as $1.35B, seeking to expand its pay-as-you-go marketshare  —  T-Mobile US Inc. is buying Mint Mobile, the budget wireless provider part owned by actor Ryan Reynolds, for as much as $1.35 billion …
Bloomberg:
Sources: TikTok's leadership is considering a divestiture from ByteDance as a last resort if CFIUS rejects the existing proposal, resulting in a sale or an IPO
Reuters:
Samsung Electronics plans to invest ~$230B through 2042 to build what South Korea calls the world's largest chipmaking base, including five chip factories  —  South Korean tech giant Samsung Electronics (005930.KS) expects to invest $230 billion over the next 20 years to develop …

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This is a Techmeme archive page. It shows how the site appeared at 3:35 PM ET, March 15, 2023.

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From Mediagazer

Wall Street Journal:
Sources: Amazon executives, including MGM Studios head Mike Hopkins, have discussed rebooting The Apprentice for Prime Video, with Donald Trump Jr. as the host

Dade Hayes / Deadline:
The NAB's CEO says the FCC's “nearly unprecedented request” for Disney to reapply for TV licenses is contrary to established principles and creates uncertainty

Ethan Millman / The Hollywood Reporter:
UMG artists will receive a share of the proceeds from UMG's Spotify stock sale, regardless of debts; WMG paid out $126M to artists from its 2018 stock sale

More News

CNBC:
Representative Ken Buck says the GOP won't impose tougher antitrust rules on Google, Amazon, and Apple in 2023; Jim Jordan doesn't want to give Biden more power
Fabiano Maisonnave / Associated Press:
An investigation finds that illegal miners in Brazil use SpaceX's Starlink for coordinating logistics, making payments, and warning of law enforcement raids

Earlier Picks

The Verge:
Sources: Spotify was ready to launch HiFi as a premium tier by the end of 2021 but Apple and Amazon offering lossless audio at no extra charge spoiled its plans
Ben Schoon / 9to5Google:
Alleged renders of Google's Pixel 8 Pro appear to show a flat ~6.52" display and a new sensor on the camera bar, after a Pixel Fold and 7a retail listing leak
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