Silicon Valley Bankās stock was in freefall as I wrote this, down 60%, after it announced a $2.25 billion share sale, partially to counter āelevated cash burnā at the startups it banks. That news set off a wave of panic, with some VC firms like USV warning their portfolio companies to move their funds, we reported earlier today. CEO Greg Becker had told me last week that the bank was... Read more āŗ
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Another company is jumping on the artificial intelligence bandwagon: Discord, which is infusing AI into several platform features, including its mascot bot, Clyde.Ā The messaging app commonly used by gamers announced Thursday itās dipping its toes into OpenAI technology, transforming Clyde into a talkative chatbot that can answer user questions and hold extended conversations in real-time, similar to OpenAIās ChatGPT.Ā Read more āŗ
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Silicon Valley Bank CEO Greg Becker on Thursday told top venture capitalists in Silicon Valley to āstay calmā amid concerns around a capital crunch that wiped nearly $10 billion off the bankās market valuation. On a call, Becker said that ācalls started coming and started panic.āĀ He added that the bank has āample liquidity to support our clients with one exception: If everyone is telling each other SVB is in... Read more āŗ
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In a bid to avoid a U.S. ban, TikTok is embarking on a project to restructure its product and operations in the country. It plans to store local citizen data on local servers, create a domestic entity to house that data, comply with local legal and law enforcement requests for data, limit the flow of data across national bordersāand spend billions of dollars to make all of this possible. In... Read more āŗ
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Elon Musk fanned a growing culture war in artificial intelligence by confirming last week that he plans to develop an āanti-wokeā alternative to OpenAIās ChatGPT, as The Information first reported. Musk and other critics have a point, said Greg Brockman, OpenAIās co-founder and president. In an interview, he said the startup did not move quickly enough to give users greater ability to customize the behavior of the chatbot, which has... Read more āŗ
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Hereās an idea for Meta Platforms as we wait for the company to unveil another round of layoffs: Mark Zuckerberg should reverse his decision to change the name of the company to Meta. That label might have made sense (at least to him) back at the height of the boom times, in the fall of 2021, when his focus was all metaverse, all the time. The Facebook brand felt a... Read more āŗ
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Over the past two years, Spotify became known for pricey, exclusive deals with popular podcasters, including Joe Rogan, Alex Cooper and Emma Chamberlain. But the audio streaming company also wants to help a broader swath of podcasters, an effort that was center stage at Spotifyās annual Stream On event in Los Angeles on Wednesday.Ā Spotify announced a revamped TikTok-like home feed, with a vertical, video-heavy scroll. This will change the... Read more āŗ
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Spark Capital is leading a $300 million investment in artificial intelligence startup Anthropic, one of the primary startup challengers to OpenAI, at a pre-investment valuation of $4.1 billion, according to two people familiar with the matter. The deal follows a $400 million investment in the startup by Google, one of the people said. TheĀ valuation for the two-year-old company, which has made very little revenue,Ā reflects the recent fervor in... Read more āŗ
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Is crypto about to be unbankable?Ā Crypto-friendly bank Silvergate is teetering, saying last week it could be left āless than well capitalizedā after a run on deposits and shutting off its Silvergate Exchange Network payments system for crypto companies and big traders. The bank had been suffering from significant withdrawals following the collapse of FTX, which was a major customer.The news prompted top crypto firms like Coinbase, Galaxy Digital and... Read more āŗ
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Better.com is staring into the abyss. The SoftBank-backed mortgage lender is fighting to survive amid high interest rates that have crushed its core refinancing business. In an interview with The Information, its founder and CEOāwho went viral in late 2021 when he sacked 900 employees on a Zoom callādidnāt rule out further staff cuts, even though previous layoffs have already shrunk Better.comās headcount to 1,200 from 11,000 in 2021. In... Read more āŗ
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A core pillar of LinkedInās revenue growth in recent years, its recruiting services business, is under pressure as customers rebel against the companyās prices. LinkedIn has hiked the fees it charges for recruiter subscriptions so much that in recent months, as companies have slowed hiring, some tech firms and specialist recruiting agencies are cutting their spending on the social network, LinkedIn customers and people who work with them say. In... Read more āŗ
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Twitter CEO Elon Musk was speaking at a Morgan Stanley conference around the corner from our office in San Francisco today. You canāt have a conversation in Silicon Valley these days without him coming up. Itās not just that tech people love to talk about Twitter (and they do). Itās also that they love to talk about CEOs and their styles and what kind of leader they themselves want to... Read more āŗ
0
TikTok sent a message to some creators this week inviting them to join top company executives in Washington D.C. in late March as the ByteDance-owned company continues to fight calls for a ban of the app in the U.S.The trip would include āstanding side by side with creators and the TikTok team at the U.S. Capitalā to show TikTokās positive impact, according to a message reviewed by The Information. āYour... Read more āŗ
348
Crypto companies need banks to operateābut finding one is getting a lot harder. During the crypto boom of recent years, a number of small banks looked past potential risks to embrace the fast-growing crypto industry. Now, following the implosion of FTX, top crypto-friendly bank Silvergate Bank is struggling to stay afloat and Signature Bank is cutting back on working with crypto customers. That means crypto companies, whose customers need a... Read more āŗ
142
Over a decade ago, journalist Eric Felten claimed that āmost of us make more legal agreements in a year than our grandparents made in a lifetime.ā The same statementāif we equate ālegal agreementsā with āwritten contractsāāwould be true today only if you changed āin a yearā to āevery day or two.ā So entwined are written contracts in our lives that unwinding them all may seem hopeless. Thatās why even though... Read more āŗ
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Ariel Cohen took the stage sipping champagne before 9 a.m. in front of more than 3,000 of his employees last month. Dozens of the travel software companyās workers, wearing purple pajamas, had just slept at the firmās Palo Alto office. Another executive urged employees to get up and dance. They were celebrating a rebrand of the company, formerly known as TripActions, to Navan. Executives viewed it as an important step... Read more āŗ
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Comedian Louis C.K. had a smart observation a few years ago about how quickly people become blasĆ© about the wonders of modern life, such as plane flight. His commentary came to mind after I read my colleague Wayne Maās story this morning about Appleās rocky business marriage with Samsung. Among other things, the story describes how hard it is to make the OLED displays used in iPhones of recent years.... Read more āŗ
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When travel creator Tanyka Renee Henry is stuck on an idea, she sometimes turns to a virtual source of help: Jasper AI, an artificial intelligence-powered copywriter.Ā Henry, who has 320,000 Instagram followers, says she uses Jasper to help her come up with written material for social media captions, business pitches, or the newsletter she sends out through her personal website. āSometimes I have some brain fog and I canāt get... Read more āŗ
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There are complicated relationships in the tech industry. And then there is the rocky marriage between Apple and Samsung Electronics. While Apple has long depended on the Korean electronics giant to supply key parts for the iPhone, it has also waged a long-running court battle against Samsung, accusing it of ripping off Apple patents in its own line of smartphones. The two companies settled their legal squabbles five years ago,... Read more āŗ
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Hi, welcome to your Weekend!Ever since Covid lockdowns began three years ago, young people have seemed a bit adrift. I see it at home with my two daughters, 13 and 11, who still canāt break some of the annoying screen habits they formed during the pandemic. I see it with their public school peers in San Francisco, many of whom are still climbing out of the pedagogical hole that their... Read more āŗ
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28.06.2026 05:19
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