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Technology

Technology

In client call, SVB’s new CEO urges clients to bring funds back to the bank

Three days into his tenure as Silicon Valley Bank‘s government-appointed CEO, Tim Mayopoulos has a message for his high-powered venture capital and startup clients:...

by admin March 15, 2023
In client call, SVB's new CEO urges clients to bring funds back to the bank
Technology

Four days of panic: How startup execs navigated SVB’s meltdown and prepared for the worst

A Silicon Valley Bank worker talks with people lining up outside of the bank office on March 13, 2023 in Santa Clara, California. Justin...

by admin March 15, 2023
Four days of panic: How startup execs navigated SVB's meltdown and prepared for the worst
Technology

SVB’s failure will have a ripple effect across technology ‘for years to come’

Silicon Valley Bank’s collapse could have ramifications for the technology landscape over the coming years, analysts and investors said. Nikolas Liepins | Anadolu Agency...

by admin March 15, 2023
SVB's failure will have a ripple effect across technology 'for years to come'
Technology

Google’s working on an updated version of its medical A.I. that can answer health questions

The logo of Google LLC is seen at the Google Store Chelsea in New York City, Shannon Stapleton | Reuters Google on Tuesday announced...

by admin March 14, 2023
Google's working on an updated version of its medical A.I. that can answer health questions
Technology

OpenAI announces GPT-4, claims it can beat 90% of humans on the SAT

Sam Altman, CEO of OpenAI, walks from lunch during the Allen & Company Sun Valley Conference on July 6, 2022, in Sun Valley, Idaho....

by admin March 14, 2023
OpenAI announces GPT-4, claims it can beat 90% of humans on the SAT
Technology

Meta to lay off 10,000 more workers after initial cuts in November

Meta will lay off 10,000 more workers and incur restructuring costs ranging from $3 billion to $5 billion, the company announced Tuesday, with CEO...

by admin March 14, 2023
Meta to lay off 10,000 more workers after initial cuts in November
Technology

Uber and Lyft shares rise after California court victory lets them classify drivers as contractors

Ride-sharing apps, including Uber and Lyft, can continue to treat their drivers as independent contractors, a California appeals court ruled on Monday, overturning a...

by admin March 14, 2023
Uber and Lyft shares rise after California court victory lets them classify drivers as contractors
Technology

GitLab loses one-third of its value after software company issues weak revenue forecast

People celebrate the Gitlab IPO at the Nasdaq, October 14, 2021. Source: Nasdaq GitLab shares plunged as much as 38% in extended trading after...

by admin March 13, 2023
GitLab loses one-third of its value after software company issues weak revenue forecast
Technology

SVB crisis shows Fed needs to slow down or a ‘lot more stuff is going to break,’ Altimeter’s Gerstner says

As the fallout from Silicon Valley Bank‘s failure continues to unfold, the Federal Reserve needs to slow down before “a lot more stuff” breaks,...

by admin March 13, 2023
SVB crisis shows Fed needs to slow down or a 'lot more stuff is going to break,' Altimeter's Gerstner says
Technology

ChatGPT and generative AI are booming, but the costs can be extraordinary

OpenAI CEO Sam Altman speaks during a keynote address announcing ChatGPT integration for Bing at Microsoft in Redmond, Washington, on February 7, 2023. Jason...

by admin March 13, 2023
ChatGPT and generative AI are booming, but the costs can be extraordinary
Technology

Silicon Valley Bank signed exclusive banking deals with some clients, leaving them unable to diversify

A delivery person drops off pizzas at Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP |...

by admin March 13, 2023
Silicon Valley Bank signed exclusive banking deals with some clients, leaving them unable to diversify
Technology

SVB’s tech failings were a problem long before the bank run that led to its demise, critics say

Nikolas Kokovlis | Nurphoto | Getty Images Silicon Valley Bank’s historic meltdown last week was largely attributed to deteriorating business conditions in the firm’s...

by admin March 12, 2023
SVB's tech failings were a problem long before the bank run that led to its demise, critics say
Technology

U.S. government steps in and says people with funds deposited at SVB will be able to access their money

Banking regulators devised a plan Sunday to backstop depositors with money at Silicon Valley Bank, a critical step in stemming a feared systemic panic...

by admin March 12, 2023
U.S. government steps in and says people with funds deposited at SVB will be able to access their money
Technology

Hundreds of venture capital firms vow to work with Silicon Valley Bank again if new owner is found

A sign hangs at Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP | Getty Images More...

by admin March 12, 2023
Hundreds of venture capital firms vow to work with Silicon Valley Bank again if new owner is found
Technology

Investors implore the government to step in after Silicon Valley Bank failure

Big names in Silicon Valley and the finance sector are calling publicly for the federal government to push another bank to assume Silicon Valley...

by admin March 11, 2023
Investors implore the government to step in after Silicon Valley Bank failure
Technology

Founders swarmed SVB’s Bay Area branches looking for answers after bank’s historic failure

A Brinks armored truck sits parked in front of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California....

by admin March 11, 2023
Founders swarmed SVB’s Bay Area branches looking for answers after bank's historic failure
Technology

Amazon’s drone business can’t get off the ground as regulations, weak demand stymie progress

David Carbon, vice president of Prime Air at Amazon.com Inc., speaks during the Delivering the Future event at the Amazon Robotics Innovation Hub in...

by admin March 11, 2023
Amazon's drone business can't get off the ground as regulations, weak demand stymie progress
Technology

Roku says 26% of its cash reserves are stuck in Silicon Valley Bank

A video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company’s IPO at the Nasdaq...

by admin March 10, 2023
Roku says 26% of its cash reserves are stuck in Silicon Valley Bank
Technology

Companies scramble to meet payroll, pay bills after SVB’s swift failure

Employees stand outside of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California.  Justin Sullivan | Getty Images...

by admin March 10, 2023
Companies scramble to meet payroll, pay bills after SVB's swift failure
Technology

Here’s how the second-biggest bank collapse in U.S. history happened in just 48 hours

On Wednesday, Silicon Valley Bank was a well-capitalized institution seeking to raise some funds. Within 48 hours, a panic induced by the very venture...

by admin March 10, 2023
Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours
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