The Silicon Valley bank’s struggles began with a bad bet on long-dated U.S. bonds. A rise in interest rates means that the value of those bonds has fallen. When depositors began to worry about the bank’s balance sheet, they withdrew their money. High interest rates have become a challenge in the industry, ending the cheap loans that tech companies have become accustomed to over the past decade and reducing available financing. More than $400 billion worth of value has been wiped from Europe’s tech industry by 2022, with some companies,…
Day: March 13, 2023
DailyCrunch: HSBC buys Silicon Valley bank UK, says ‘customers should not notice any changes’
To get TechCrunch’s biggest and most important stories delivered to your inbox every day at 3pm PDT; Register here. Well, here on earth. You say that is a sweet land. This weekend was a busy one for a certain Silicon Valley bank. You couldn’t go anywhere this weekend without hearing dozens of speeches and finding out that everyone in San Francisco is an FDIC and National Bank loan expert, so that’s good (?) news (??). In Friday’s special edition of Daily Crunch, we recapped what happened so far, but a…
THE PERFECT KNIT OPEN DRESS
March 13, 2023 Thanks to Nordstrom for partnering on this post. ONE: CLOTHES // jacket // SHOES // SUNGLASSES TWO: DRESS // JACKET // SHOES THREE: OUTFIT // BLAZER (love this one too) // SHOES It’s back! My favorite open knit dress under $100 from Nordstrom is back in stock in three colors. I’ve worn this dress endlessly – casually during the day with sneakers, as a swim cover-up by the pool, and dressed up with heels and statement earrings for nights out. Lately I’ve been wearing it with these…
SVB’s collapse is creating chaos in India’s tech sector.
“If India, the number of Indian startups [impacted] Y Combinator-backed startup Smriti Tomar, who had some money in SVB, says it’s definitely high compared to other nations, except for the US, but the capital is not that much. “Then what we can safely assume is that most startups have an exposure of between $250,000 and $1.5 million—that’s the bracket where most startups believe their money is blocked.” Over the weekend, after SVB went down, hundreds of WhatsApp groups, communities and support forums popped up to see how people would react.…
VC fund performance is still quite good.
There’s no reason to panic more about VC fund performance — yet In the end Year, the venture industry has had a difficult time. Many feared that the bull market had pushed prices up to unsustainable levels and that the startup windfall would lead to rounds and cash burn, negatively impacting VC fund performance. But before SVB collapsed, it was doing relatively well. At least according to a report from the University of California Endowment, the opposite appears to be true. But because this report only looked at funds that…
Tik Tok and Meta moderators founded the United Nations in Germany
Social media filter Protecting content from abuse or other prohibited material is one of the most difficult tasks in technology, but one of the most undervalued. In Germany, the content moderators of TikTok and Meta have banded together to demand more recognition for workers employed to keep some of the worst content off the social platforms in a coordinated push by tech workers at companies. The coalition met in Berlin last week and demanded higher pay, more psychological support and the ability to organize and organize from the two platforms.…
Hear from Sequoia Capital and Kleiner Perkins this week on TechCrunch Live
You won’t want to miss this week’s TechCrunch Live events. The startup industry is facing unprecedented headwinds, and we want to talk about it. Two events are scheduled, and we are working to reframe the talks to make them relevant in this post-SVB world. First, Wednesday at 12:00 p.m., TC+ Principal and Equity Co-Host Alex Wilhelm is in conversation with Kleiner Perkins Partner Mamun Hamid and Thrive Global Founder and CEO Ariana Huffington. The two are long-time veterans of navigating the waters of Silicon Valley and can speak directly to…
Driving innovation and sustainability in many traditional industries
It’s no secret that industrial companies have historically put sustainability on the back burner, but things have changed. As their work involves longer product life cycles, complex manufacturing processes, demanding customer requirements, and applications that make it more difficult to implement sustainability programs, these obstacles are almost overwhelming incentives for choosing a greener path, especially in traditional food industries. Profit margins in Agworld and Agtech are small (2-3%) compared to other industries. This means that everyone is competing for 2% returns rather than the larger portion that must be competed…
Aesthetic filters that distort reality, and the rise of American mining
The Bold Glamor beauty filter on TikTok has been used more than 16 million times since its release last month. It sculpts your cheekbones and jawline with a sharp yet subtle contour. Plus, it lifts your brows, adds shine to your lashes, and gives you thicker, longer, darker lashes. Do you think this is not useful for you? Think again. The most amazing thing about this filter is how it works: the results are extremely realistic. It’s just the latest example of how it’s getting harder and harder to tell…
Super-realistic beauty filters are here to stay.
The Bold Glamor filter, which has now been used more than 16 million times since its release last month, sculpts your cheekbones and jawline with a sharp yet subtle line. It also highlights the tip of your nose, the area under your eyebrows and the apples of your cheeks. Plus, it lifts your brows, adds shine to your lashes, and gives you thicker, longer, darker lashes. As the name suggests, it has an attractive effect. Beauty itself is amazing. However, the most surprising thing is how it actually works. If…