March 13, 20230CommentsHaving perfected the art of using hype to move markets, VCs managed to hype their own rumors to collapse SVB, accidentally slaying a much loved accomplice (Sinead O’Sullivan/Financial Times)
March 13, 20230CommentsThe closure of SVB, Silvergate, Silvergate Exchange Network, and Signature adds stress to a troubled crypto industry; fiat conversion costs may rise by 20%-40% (Bloomberg)
March 13, 20230CommentsSources: JPMorgan, PNC, Apollo, and Morgan Stanley are in talks to acquire SVB Financial Group, excluding SVB; interest in SVB cooled after the US backstop (Michael Flaherty/Axios)
March 13, 20230CommentsState media: China appoints Zhang Xin to lead its state-backed chip investment fund, known as the Big Fund, seeking to counter US-led sanctions on its industry (Bloomberg)
March 13, 20230CommentsUS 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 (Antoine Gara/Financial Times)
March 13, 20230CommentsA 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 (Fortesa Latifi/Teen Vogue)
March 13, 20230CommentsHSBC 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 (Iain Withers/Reuters)
March 13, 20230CommentsQ&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 (Tate Ryan-Mosley/MIT Technology Review)