June 10, 2023
When the Silicon Valley bank went bankrupt in March 2023, the current legal rule was that the Federal Deposit Insurance Corporation (FDIC) only insured bank deposits up to $250,000. This is enough for almost every family. But a number of businesses had much larger amounts in deposits at the bank, and when these businesses became
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Apple has told Indian officials that it needs “a specific reason or legal requirement” to fully comply with its directive to disable betting apps on its App Store. This and other exclusives in today’s ETtech Morning Dispatch. Also in the letter:■ Slowdown in used car sales■ A number of startups are resisting the trend to
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Advertising For decades, metropolitan areas around the world and their governments have launched numerous initiatives to transform themselves into the “new Silicon Valley”. Labels like Silicon Alley, Silicon Beach, Silicon Bayou, Silicon Desert, Silicon Hills, Silicon Holler, Silicon Peach, Silicon Prairie, Silicon Shire, Silicon Slopes and so on have come and gone in the US.
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Silicon Valley car ethernet chip launch Eternovia Inc said on Monday it had raised $64 million in a Series A funding round including Porsche Automobil Holding SE. Qualcomm Ventures, Venture Technology Alliance and others. As automakers move to electric vehicles with more driver-assistance features, they are upgrading the electronics to eliminate the dozens of cables
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When discussing questions such as “why there is deposit insurance” and “why does the government regularly audit the financial accounts of banks,” people like me often end up describing bank runs. However, our examples tend to be old, often taken from movies like Mary Poppins, It’s a Wonderful Love, or old Westerns. Our “modern” example
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CNN — When clients in Bank of Silicon Valley rushed to withdraw billions of dollars last month, venture capitalist Arlan Hamilton stepped in to help some founders of color who were panicking about losing access to payroll funds. As a black woman with nearly 10 years of business experience, Hamilton knew the opportunities for those
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According to Michael Barr, Federal Reserve Vice Chairman for Supervision, the failure of a Silicon Valley bank was “textbook case of mismanagement“. Perhaps this is not surprising. Regulators are unlikely to conclude that the second-largest bankrupt in American history was due to poor regulation. What did the leadership of the SVB do? Why would they
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Surviving recession and military conflicts, Israelthe high-tech sector may face its biggest test as the collapse Bank of Silicon Valley (SVB) removes a key source of funding, and proposed judicial reform threatens the foundations of corporate law. Nicknamed “Startup Nation“The Israeli economy has experienced a wave of technological success in a sector that employs just
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Remote work killed SVB, March Madness money and why the plastic bottle industry is booming Ellevest CEO and co-founder Sally Krawchek says:NightcapClaire Duffy, why remote work at SVB was probably not the main reason for the bank’s collapse. Additionally, UNC Chapel Hill Associate Professor Jonathan Jensen explains why shoe companies like Nike and Adidas spend
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Politicians called a dramatic collapse Bank of Silicon Valley “the first bank fueled by Twitter.” But in the tech industry, public social media channels weren’t really causing rapidly growing concerns about SVB’s financial situation—it was happening privately. Channels such as the WhatsApp messaging platform, email threads, text messages and other closed forums were full of
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