What a weekend that was, reader.
By now, you've probably heard a lot about the sudden, $4, one of the tech industry's most stalwart and trusted institutions. There's a lot to catch up on, so buckle up.
The weekend was a period of intense stress in the tech industry, as the bank's customers wondered what they would do if Monday rolled around and $4.
Well, late on Sunday afternoon, the federal government stepped in: While the bank itself will no longer be a going concern — its $4 — the FDIC is guaranteeing that $4.
Then, news broke early this morning that $4 in a last-minute deal. The UK government and the Bank of England facilitated the private sale, UK Chancellor $4: "Deposits will be protected, with no taxpayer support".
You can $4.
As the tech industry breathes a massive sigh of relief, here's what you need to know going into your week.
If this was forwarded to you, sign up here>$4. Download Insider's app here.>$4
1. "Our money is gone." Before the FDIC stepped in to save the day (for depositors, anyway), the collapse of Silicon Valley Bank $4 to whatever cash they had stashed there.
Here's the latest from Insider on the Silicon Valley Bank meltdown:
- $4, giving insight on the financial and strategic decisions it made to get to this point, from the perspective of the startups and VCs involved.
- Insider's $4, who only took a few days to turn their back on a bank that had served them well for decades.
- SVB staffers $4 after being told to leave the office.
- It turns out that $4 making it one of several larger tech companies that must be thrilled to be getting their cash back.
- My colleague Alistair Barr writes about $4: If the FDIC hadn't stepped in to make a special exception, almost 90% of its deposits would have been uninsured. Insider also analyzed the regulatory filings of 15 major US banks and found at the end of 2022, there was well over $4.
Read more about the $4.
In other news:
2. Can Silicon Valley succeed where the CDC failed? Insider's Adam Rogers writes that the $4 that the private sector may be our best hope in the next pandemic. As VCs invest in pandemic-related startups, it's tech versus the virus.
3. Microsoft's AI plan to take on Google. Insider reports on Microsoft's plan to woo advertisers to its new ChatGPT-powered Bing search engine. Ads could appear as annotations to the Bing chatbot's answers, helping Microsoft steal some search ad market share from its larger rival. $4.
4. The great "fake work" debate. Last week, investor Keith Rabois made the incendiary claim that most Big Tech workers do "fake work," drawing a paycheck for very little actual result. It's started a huge debate among tech elites, centered around a simple question: $4
5. Goodbye to Smarty Pants. Alphabet is spinning off Skip (formerly known as Smarty Pants), its robotic exoskeleton subsidiary, as the Google parent company cracks down on its $4
6. "Code Yellow" at Shopify. Insider reports on leaked documents, showing that Shopify's own data sees its customer support experience has deteriorated. It's now trying to right the ship, at the risk of losing more of its e-commerce vendor customers. $4
7. Meta is working on a Twitter clone. Facebook's parent company has confirmed that it's $4that takes a page (and uses the same key technology) from Mastodon, the decentralized Twitter competitor. What will they call it? Mastobook? Metadon?
8. Amazon employees want to work from home. Insider reports on a petition signed by at least 30,000 employees to fight against $4. The retail giant wants most employees back in the office at least three days a week, starting in May.
Odds and ends:
9. How a startup beat Mercedes at its own luxury-car game. Tim Levin, Insider's auto expert extraordinaire, test-drove luxury SUVs from Mercedes and electric vehicle startup Rivian. Surprisingly, he said that $4.
10. Netflix lets you change subtitle sizes. If, like me, your eyes are shot after spending the week glued to your screen for updates on all the breaking news, a little bit of good news: $4.
What we're watching today:
- The South by Southwest (SXSW) tech, music, and culture festival rages on in Austin, Texas all week.