On Friday, Silicon Valley Bank, the 40-year-old go-to lender for tech startups, collapsed amid a bank run and capital crisis. The California Department of Financial Protection and Innovation appointed the Federal Deposit Insurance Corporation (FDIC) as receiver and the FDIC will cover up to $250,000 per depositor.[0] The bank was the 16th largest in the […]
Continue readingPassengers aboard Lufthansa Flight 469 from Austin, Texas to Frankfurt, Germany on March 1 were left stunned after the plane encountered “severe turbulence” at 37,000 feet, leading to an emergency landing and seven people being hospitalized.[0] TikTok user Monica Raygada, who was on the flight, documented the terrifying experience with a video that has since […]
Continue readingSilicon Valley Bank (SVB) has been a pillar of the tech industry since its foundation in 1983.[0] However, the bank abruptly collapsed on Friday, March 10, 2023, and was taken over by federal regulators. This marks the second-largest U.S. bank failure in history, only behind Washington Mutual’s $300 billion collapse in the 2008 financial crisis.[1] […]
Continue readingThe collapse of Silicon Valley Bank is having a devastating effect on tech startups around the world. The UK government has recognized the importance of tech sector companies and that they often rely on cash deposits to cover their day to day costs.[0] As a result, the UK Treasury is canvassing startups to find out […]
Continue readingOn Friday, Silicon Valley Bank (SVB) was shut down by California regulators and taken over by the U.S. Federal Deposit Insurance Corporation (FDIC).[0] SVB, which was founded in 1983, was the 16th-largest bank in the country and prided itself in its close relationship with tech entrepreneurs.[1] It claimed at the end of 2022 that nearly […]
Continue readingSilicon Valley Bank, a lender that had been a fixture in the venture capital space for decades, collapsed on Friday.[0] The FDIC was named receiver by the California Department of Financial Protection and Innovation after SVB was closed.[1] On Wednesday, SVB’s announcement to raise billions in order to compensate for major losses sparked fear among […]
Continue readingThe music industry saw a record $15.9 billion in revenue in 2022, according to the latest report from the Recording Industry Association of America (RIAA).[0] Paid streaming services, vinyl records, and other physical media formats drove the record-breaking figures. The report shows that streaming services remain the primary source of income in the US music […]
Continue readingOn Friday morning, the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB) in what has become the largest American bank failure since the collapse of Washington Mutual in 2008.[0] This marks the second-largest bank failure in US history and comes at a time of financial upheaval for tech startups and […]
Continue readingOn Friday, March 10th, Silicon Valley Bank (SVB) became the second-largest bank failure in US history, when the California Department of Financial Protection and Innovation shut the bank down, appointing the Federal Deposit Insurance Corporation (FDIC) as receiver.[0] The FDIC has said that insured depositors will have access to their funds by Monday morning, and […]
Continue readingRett Syndrome is a rare genetic neurological disorder that affects mostly female children (1 in 10,000 births) and is associated with significant impairments in nearly every aspect of life. It is characterized by developmental regression, loss of language and hand function, impaired gait, and near constant repetitive hand movements while awake.[0] Seizures, scoliosis, breathing issues, […]
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