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Techmeme
March 15, 2023, 3:20 PM
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Top News

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
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.
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.
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: US prosecutors were investigating Signature's work with crypto clients before regulators seized the bank, including over detecting money laundering  —  US prosecutors were investigating Signature Bank's work with crypto clients before regulators suddenly seized the lender this past weekend …
Sergiu Gatlan / BleepingComputer:
Microsoft says it patched an Outlook zero-day, exploitable without user interaction, used by Russian hackers to target European organizations in 2022  —  Microsoft has patched an Outlook zero-day vulnerability (CVE-2023-23397) exploited by a hacking group linked to Russia's military intelligence service GRU …
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.
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
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 …
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 …
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  —  Leak season is starting.  Following a retail leak of Pixel Fold and Pixel 7a just today, the first renders of Google Pixel 8 Pro have arrived …

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This is a Techmeme archive page. It shows how the site appeared at 3:20 PM ET, March 15, 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.

From Mediagazer

David Folkenflik / NPR:
NPR and three Colorado public radio stations sue Trump, saying his executive order to cut federal funding violated the US Constitution and the First Amendment

Bloomberg:
Filing: Tencent is buying a ~10% stake in SM Entertainment for ~$180M from BTS agency Hybe, as China is expected to lift its unofficial ban on K-pop concerts

Dominic Ponsford / Press Gazette:
Docs: The Guardian reports revenue up 6.7% YoY to £275M in the year to March 2025, losses down to <£25M, digital revenue up 20%+ YoY to £100M+, and 1.3M subs

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
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

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
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