Happy Friday everyone. It’s Kyle again. Greg’s stand-in for his Week in Review. (Don’t worry, he’ll be back in a few weeks.) If you’re new to his WiR, here’s a newsletter that summarizes the last five days of tech news. I may be biased, but I think it’s a great way for busy people to stay up to date. Here at TC, we do our best to serve our dear readers.
Before the news, some plugins:
TechCrunch Early Stage is approaching. This year he will be in Boston on April 20th. If you haven’t been, look forward to his annual Founders Summit. Sessions with top experts and opportunities to meet fellow entrepreneurs.
Further down is Disrupt, TechCrunch’s annual flagship conference, September 19-21. Excitingly, it features new stages with industry-specific programming tracks across Climate, Mobility, Fintech, AI & Machine Learning, Enterprise, Privacy & Security, Hardware & Robotics. Do not miss it.
Let’s go to WiR.
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Silicon Valley Bank implodes: Silicon Valley Bank Finance, the holding company of Silicon Valley Bank (SVB), is in crisis. The venture advised investee companies to move funds out of his SVB after SVB announced it would post a loss of $1.8 billion on him in connection with the sale of securities. Then, after halting transactions and asking staff to work from home (SVB was reportedly looking for a buyer), customers were having trouble transferring funds from their banks. And on Friday, the SVB was closed by regulators and now controls bank deposits. Stay tuned for more to come — the entire TC editorial team is hard at work.
Decentralize everything: Meta is working on a decentralized text-based app. Ivan I am writing. As first reported by MoneyControl, the new app, codenamed P92, will allow users to log in via her Instagram credentials. According to Platformer, the project is being overseen by his Instagram head Adam Mosseri, and it just so happens that Meta is widely perceived as trying to make his Twitter alternative or Mastodon competitor. not.
Malware hidden in woodwork: On Thursday, the US government announced it had seized a website used to sell malware designed to spy on computers and mobile phones. Lorenzo I am writing. The malware in question, NetWire, was reportedly advertised on hacking forums and sold on sites masquerading as legitimate remote administration tools.
Apple launches new service: Sara writes that Apple is launching a music streaming service dedicated to classical music. Based on Apple’s acquisition of Amsterdam-based streamer Primephonic in 2021, the new Apple Music Classical app gives Apple Music subscribers access to over 5 million classical music tracks, including new releases of high-quality audio. It offers access and hundreds of curated playlists. Thousands of exclusive albums and other features such as composer bios and details of major works.
Display Sports HomePod: As for Apple, the company could be working on a new HomePod device with a built-in display in 2024. According to analyst Ming-Chi Kuo, the new product may look like a speaker with a small tablet. Similar to Amazon Echo Show or Google’s Nest Hub.
Arrivals to Bast: Arrival, a commercial EV company that went public in 2021, released its fourth-quarter and full-year financial results on Thursday. Gist? Arrival is burning with cash and looking for more.As Kirsten The company is not yet profitable, according to reports. Jacqueline Considering the company’s expenses, Arrival’s cash on hand — $205 million — isn’t enough to get it through the rest of the year.
No privacy guarantee: Cerebral has revealed that it shares personal health information, including mental health ratings, of more than 3.1 million US patients with advertisers and social media giants such as Facebook, Google and TikTok. The telemedicine startup, which exploded in popularity during the COVID-19 pandemic, revealed security lapses in a federal filing this week. Zach report.
ChatGPT Goes Enterprise: OpenAI’s viral AI-powered chatbot technology, ChatGPT, is now available in a more enterprise-friendly package. Microsoft announced this week that ChatGPT is generally available through the Azure OpenAI service. The Azure OpenAI service is a fully managed service for enterprises designed to give enterprises access to OpenAI’s technology with added governance and compliance capabilities. Customers who must already be “Microsoft Managed Customers and Partners” can now apply for special access.
Discord employs AI. Discord announced this week that it is rolling out a series of new AI experiences to a number of servers. Most notably, the platform plans to update the Clyde bot with ChatGPT. This allows users to have more extended and more realistic conversations with chatbots. Additionally, Discord is updating its moderation tools to harness the power of large-scale language models and deploy AI-generated conversation summaries.
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Looking for quality listening material from subject matter experts? TechCrunch’s podcast collection is growing significantly by the day. In this week’s equity, Alex, Mary Ann and Natasha M. We’ve gathered to riff on the biggest startup and venture news of the week, starting with the SVB situation. At Found, TC’s show about founders and company formation, mat, Darrelland Becca We spoke with Matt Rogers, an entrepreneur who started in the kitchen and set his sights on solving food waste. about the chain reaction Jacqueline We interviewed Jack Mallers, founder and CEO of Strike, a Bitcoin-based payments network and financial app looking to grow the cross-border payments and remittances market. A TechCrunch Podcast covered the bipartisan bill that could lead to his TikTok ban in the US and the dangers of startups selling our data. Also on TechCrunch Live, Matt spoke with his Trulioo co-founder Tanis Jorge and David Blumberg of Blumberg Capital on how to find co-founders, build partnerships, and navigate stock splits. talked about
TechCrunch+
TC+ subscribers have access to in-depth commentary, analysis and research. This is something you already know if you’re a subscriber. If not, please consider signing up. Here are this week’s highlights:
SVB and the fundraising dilemma: Alex wrote about how the SVB situation has become a nightmare for many startup founders. his view? This crisis is going to kill many startups quickly, or simply by adding enough operational friction to bring them to their knees.
Computer vision, confusion: Computer vision could be much faster and better if we skipped the concept of still frames and instead analyzed the data stream directly from the camera. At least, his Ubicept, the latest brainchild spun out of the MIT Media Lab, operates on this theory. he came I have a complete report.
Cryptocurrencies Continue Downward Spiral: Jacqueline reports that another large crypto-centric company has gathered dust this week, prompting some analysts to predict bigger problems across the ecosystem. Listed cryptocurrency bank Silvergate Capital announced Wednesday that it will “scale back operations and voluntarily liquidate its banking sector.”
