Techmeme
March 13, 2023, 5:15 AM

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 …, Wall Street Journal, CNBC, CNN, Bloomberg, Circle, National Review, Reuters, Bloomberg, Bloomberg, NBC News, Cointelegraph, Axios, Reuters, Fortune, Engadget, Financial Times, crypto.news, TechCabal, Coinpedia Fintech News, THE LOGUE, Metaverse Post, MarketWatch, Livemint, CryptoSlate, Noahpinion, Watcher Guru, DataBreachToday.com, Forkast, HN Digest, Crowdfund Insider, The Register, CoinJournal, All Facts Matter, SlashGear, SiliconANGLE, Politico, Decrypt, Variety, PYMNTS.com, CryptoGlobe, Tech Startups, DealStreetAsia, Bitcoinist.com, Insider, The Verge, Bitcoin News, Smoke Signal, CryptoPotato, CoinDesk, The Global Macro Trader, The Hill, Cryptopolitan, San Francisco Business Journal, Crunchbase News, iTnews, TechCrunch, Deadline, Finbold, Slashdot, Today's Edition Newsletter, socaltech.com, and Unusual Whales
Iain Withers / Reuters:
HSBC 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  —  HSBC (HSBA.L) said on Monday it is acquiring the UK subsidiary of Silicon Valley Bank for 1 pound.
Bloomberg:
SVB draws support from 500+ VCs, including General Catalyst and Sequoia, while 5,000+ founders and CEOs sign a Y Combinator petition asking US Congress to act  —  More than 100 venture capital and investing firms have signed a statement supporting Silicon Valley Bank, part of mounting industry calls …
Bloomberg:
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 …
MacKenzie Sigalos / CNBC:
Signature's closure means real-time payment platform Signet is no longer serving crypto clients, following Silvergate's SEN; BTC is up ~7% and USDC regains peg  —  - Silvergate and Signature were the two main banks for crypto companies, while Silicon Valley Bank had a lot of crypto startups and VCs as customers.
Austin Weinstein / Bloomberg:
Financial Times:
Sources: Tim Cook has pressed ahead with an MR headset debut in 2023, overruling Apple designers who wanted to wait until the tech catches up with their vision  —  New launch will be first steered entirely by CEO and under direction of operations team  —  When Tim Cook unveils Apple's new …
Simon Willison / Simon Willison's Weblog:
A developer runs Meta's 13B LLaMA model, considered to be competitive with GPT-3, on his laptop, showing local language models are feasible on consumer hardware  —  The open release of the Stable Diffusion image generation model back in August 2022 was a key moment.
Mark Gurman / Bloomberg:
A look at the unprecedented level of executive turnover at Apple, which lost 11 key people, most just below Senior Vice President, since the second half of 2022  —  Apple is facing an unprecedented wave of executive departures.  Also: The company will shake up its sales operations with a focus on India …
Fortesa Latifi / Teen Vogue:
A 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  —  “Nothing they do now is going to take back the years of work I had to put in.”  —  Search Claire's name online …
John Sakellariadis / Politico:
Worried that cloud giants offer concentrated hacking targets, the US plans to regulate the security practices of Amazon, Microsoft, Google, Oracle, and others  —  Governments and businesses have spent two decades rushing to the cloud — trusting some of their most sensitive data to tech giants …

Sponsor Posts

Google:
Gemini 2.5 Pro: Our most intelligent AI model  —  Gemini 2.5 Pro is now available, with thinking capabilities, enhanced performance, and improved accuracy.  Try it at no cost in the Gemini app.
UiPath:
UiPath Unveils 10 Innovations that Will Shape the Agentic Future  —  Orchestration engine, API workflows and agentic testing among key features of new UiPath Platform™ for agentic automation, launched at UiPath DevCon 2025
Zoho:
Pay bosses in units of purpose  —  On average, it takes just 14 seconds for candidates to decide whether to apply for a job.  How can you craft job descriptions that truly connect — from entry-level to C-suite?
IDrive:
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.

Featured Podcasts

Techmeme Ride Home:
Apple Playing Games Again
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe to Techmeme Ride Home.
Channels with Peter Kafka:
How to Reinvent a Magazine, with Wired's Katie Drummond
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.
Azeem Azhar's Exponential View:
GitHub CEO on what AI means for developer salaries, SaaS, and more
Azeem Azhar explores how AI and exponential technologies are shaping our future.
Subscribe to Azeem Azhar's Exponential View.
Spotlight On:
*Live from Accel's 2025 People Summit* Behind the Netflix Culture Deck with Patty McCord and Jessica Neal
A podcast from Accel about how companies are built, from the people doing the building.
Subscribe to Spotlight On.
Invest Like the Best:
Graham Weaver - Building Alpine
The leading destination to learn about business and investing. We do this by showcasing exceptional talent and ideas.
Subscribe to Invest Like the Best.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 5:15 AM 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

Marie Woolf / Globe and Mail:

Earlier Picks

James Vincent / The Verge: