Silicon Valley Bank launches a $2.25B share sale after losing ~$1.8B on its ~$21B of US Treasuries and mortgage-backed securities
Technology-focused lender suffered loss on $21bn portfolio of Treasuries and mortgage-backed securities — Silicon Valley Bank has launched a $2.25bn share sale …
Some VC firms are encouraging their portfolio companies to pull funds out of Silicon Valley Bank while others are advising startups to keep no more than $250K
Silicon Valley Bank CEO Greg Becker on Thursday told top venture capitalists in Silicon Valley to “stay calm” …
Meta is exploring a standalone decentralized social network for sharing text updates; the app, codenamed P92, will reportedly let users log in with Instagram
Is this the Twitter replacement we've been waiting for? … Twitter's decline is paving the way for other platforms to build next-generation replacements.
Kuo: Apple plans to unveil a redesigned HomePod with a built-in 7-inch display in H1 2024, enabling tighter integration with Apple's other hardware products
Apple this year introduced a new HomePod that looks exactly like the original model announced in 2017 and discontinued in 2021.
New York's AG sues KuCoin, alleging the Seychelles-based crypto exchange offers tokens, such as ETH, that meet the definition of a security, without registering
A press release said the lawsuit was part of ongoing “efforts to crack down on unregistered cryptocurrency platforms.”
Sources: SVB Financial, parent of Silicon Valley Bank, is in talks to sell itself after attempts to raise capital failed
SVB Financial , parent of Silicon Valley Bank, is in talks to sell itself, sources told CNBC's David Faber. Attempts by the bank to raise capital have failed …
Email: VC firm Greenoaks warned founders of potential problems at SVB in November 2022; a source says over 12 portfolio companies withdrew ~$1B in recent months
Venture investment firm Greenoaks Capital Partners warned its startup founders of potential problems at SVB Financial Group's Silicon Valley Bank …
Bitcoin falls ~8% to ~$19,900, a near two-month low, and ether falls 8%+ to ~$1,400, after a selloff of US stocks, rising interest rates, and troubles at SVB
- Bitcoin fell below $20,000 on Friday hitting a near-two month low after a stock market sell-off in the U.S.
California regulators close Silicon Valley Bank and appoint the FDIC as receiver to protect insured deposits
This is breaking news. Please check back for updates.
Sources: after lobbying by Apple, Foxconn, and others, India's Karnataka state will allow two-shift production and 12-hour shifts, similar to practices in China
Lobbying in Karnataka leads to landmark legislation that anticipates iPhone production in southern state
Report: Meta pauses Reels Play bonuses in the US; launched in 2021, the program promised Facebook and Instagram creators up to $35K a month based on view counts
Meta seems to be phasing out one of the key initiatives that helped Reels creators on Facebook and Instagram get paid. Source: Insider .
Apple unveils a standalone classical music iPhone app with 5M+ tracks and more, available for pre-order now to Apple Music subscribers and launching on March 28
here's what it can do Rida Imran / iThinkDifferent : How to auto-download the Apple Music Classical app, ahead of launch on March 28 Shubham Verma / Techlusive : Apple Music Classical to launch on Mar...
Meta's Head of WhatsApp, Will Cathcart, says the service would refuse to comply with the UK's Online Safety Bill requirements to remove end-to-end encryption
The Netherlands, like ASML, is trying to find a middle ground between the US and China on chip sanctions, with recent plans stopping short of Biden's 2022 rules
Cagan Koc / Bloomberg :
The UK's CMA filings: Microsoft details how Call of Duty games could run on the Nintendo Switch, citing an “optimized” game engine and the success of past ports
Jay Peters / The Verge :
The UK's CMA closes its antitrust probe into Google and Meta's alleged Jedi Blue deal on online ads, following a similar decision made by its EU counterparts
Paul Sawers / TechCrunch :
Microsoft makes ChatGPT available in its Azure OpenAI service, letting developers and businesses add the LLM to their apps, priced at $0.002 for 1,000 tokens
Sensor Tower: Chinese game developers accounted for 40 of the world's top 100 mobile game publishers by revenue in February, bringing in ~$1.85B
Chinese video game developers including Shanghai-based miHoYo, the studio behind Genshin Impact , accounted for 40 of the world's top 100 mobile games publishers …
A look at China's “golden shares”, initially meant to reduce Beijing's role in the economy and now used to quietly control the country's biggest tech companies
Lingling Wei / Wall Street Journal :
Researchers call for transparency on AI tools' carbon footprint; training GPT-3 took an estimated 1.287 GWh of electricity, or what ~120 US homes use in a year
Bloomberg : Tweets: @zachweinberg , @dinabass , @izzyz , @sjmmcd , @brianjjackson , @doctorow , @mattmday , @environment , @katekayereports , @nic__carter , @tante , @bigblackjacobin , and @bloomberg...
Oracle reports Q3 revenue up 18% YoY to $12.39B, vs. $12.42B est., cloud services and license support revenue up 17% YoY to $8.9B, and net income down 18% YoY
FTC sues to block Intercontinental Exchange's $11.7B acquisition of mortgage software provider Black Knight, saying the deal would lead to higher prices
Wall Street Journal :
Investigation: some Pinterest users are creating sex-themed image boards of kids and the company's algorithm surfaces such content for adults who seek it out
Jesselyn Cook / NBC News : Tweets: @mike_salter and @_andyburrows Tweets: Michael Salter / @mike_salter : Another example where social media recommendation engines will curate and promote child conte...
An investigation details how a group of conservative Colorado Catholics spent millions to buy mobile app tracking data to identify priests using gay dating apps
Discord starts testing a ChatGPT-powered version of its Clyde bot and other AI features, such as conversation summaries and tools for moderating servers
London-based embedded fintech Railsr, formerly called Railsbank, goes into bankruptcy protection under a new consortium owner; Railsr was valued at ~$1B in 2021
Epic Games starts letting developers self-publish to the Epic Games Store, taking a 12% game sales commission and no IAP cut if they use their own payment tool
NYC-based Vantage, which helps companies manage and cut their cloud costs, raised a $21M Series A led by Scale Venture Partners, after a $4M seed in June 2021
Reddit plans to shut down its Clubhouse-style live audio tool Reddit Talk on March 21, saying adding audio needs “significant work”; Talk launched in April 2021
Matchday, a Web3 and mobile gaming startup developing casual soccer games licensed by FIFA, raised a $21M seed from Lionel Messi's Play Time and others
Chris Morris / Fast Company :
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Email fatigue is real: Here's how smart email tools help you regain control
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Protecting your Cloud Applications Data
Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.