Sources and documents: India plans to force smartphone makers to let users remove pre-loaded apps and will mandate screening OS updates via new security rules — India plans to force smartphone makers to allow removal of pre-installed apps and mandate screening of major operating system …
SVB bears responsibility for its demise, the outcome of disruption being tech's objective function, and the Silicon Valley myth could be the ultimate casualty — Banks are, at their core, facilitators: depositors lend their money to a bank, for which they are paid interest, and banks lend that money out, again for interest.
A eulogy for Silicon Valley Bank, a business partner to tech for 40 years, which offered services when established banks would not and was undone by its loyalty — Regardless of the reasons behind the bank's collapse, it leaves a huge hole for the start-up scene — The writer is a partner at Sequoia Capital
Having perfected the art of using hype to move markets, VCs managed to hype their own rumors to collapse SVB, accidentally slaying a much loved accomplice — Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy.
Sources: US officials are considering the extraordinary step of protecting all uninsured SVB deposits, if the FDIC is unable to find a buyer for the failed bank — Extraordinary step eyed if plan fails to sell the failed bank to another institution — Federal authorities …
Sources: regional banks are the likeliest bidders to prevail in the sale process for Silicon Valley Bank, not “too big to fail” banks like JPM or BoA — Regional banks are the likeliest bidders to prevail in the sale process for Silicon Valley Bank, people familiar with the matter said …
Sources: the FDIC started an auction late Saturday for SVB and final bids will be due by Sunday afternoon; it's possible that no deal will be reached — The Federal Deposit Insurance Corp. kicked off an auction process late Saturday night for Silicon Valley Bank, with final bids due by Sunday afternoon …
A look at the unusually high executive turnover at Apple, which has lost 11 key people just below the Senior VP level, since the second half of 2022 — Apple is facing an unprecedented wave of executive departures. Also: The company will shake up its sales operations with a focus on India …
Sources: the UK is seeking a buyer for the British arm of SVB, which had ~£7B in deposits on Friday, with an UAE-based company as the “lead white knight” — ‘Lead white knight’ eyeing British arm of tech lender that had billions in deposits
A look at Bring a Trailer, a classic car blog from 2007 that became a marketplace, facilitated $1.37B in 2022 sales, and held its 100,000th auction on March 7 — Bring a Trailer is where obsessives buy, sell and geek out over classic cars. The company pops open its hood after 100,000 auctions to explain why.
Twitter is in decline and less stable under Elon Musk, echoing LiveJournal and Tumblr falling apart under new ownership that didn't understand their communities — Twitter is in a period of decline. The site still functions, people are still using it, but there's a familiar stink that lingers on the website.
Brazil is seizing shipments of Flipper Zero, a $169 portable security penetration testing tool for wireless devices, due to its alleged use in criminal activity — The Brazilian National Telecommunications Agency is seizing incoming Flipper Zero purchases due to its alleged use in criminal activity …
Roblox and other companies disclose their exposure to SVB in SEC filings; Roblox says ~5% of its $3B cash and securities balance was held at SVB as of Feb. 28 — The fallout from the collapse of Silicon Valley Bank is impacting a range of startups and larger firms including …
New York Times : Electricians are flocking to regions around the US to build data centers, as AI shapes up to be an economy-bending force...
