Happy Friday, people. It’s Kyle again, Greg’s understudy on Week in Review. (He’ll be back in a few weeks, don’t worry.) If he’s a WiR newbie, this is the newsletter where we recap the last five days in tech news. I may be biased, but I’d say it’s the best way for the busy person to stay informed. We do our best to serve you, dear reader, here at TC.
Before the news, some plugs:
TechCrunch Early Stage is fast approaching: It’s April 20 in Boston this year. If you haven’t attended, look forward to an annual founders’ summit with sessions from top experts and opportunities to meet other entrepreneurs.
Looking ahead, there’s Disrupt, TechCrunch’s annual flagship conference, taking place September 19-21. Excitingly, it will feature new stages with industry-specific programming tracks in climate, mobility, fintech, artificial intelligence and machine learning, enterprise, privacy and security, and hardware and robotics. Do not miss it.
Now we go to WiR.
most read
Silicon Valley Bank implodes: Silicon Valley Bank Financial, the publicly traded holding company for Silicon Valley Bank (SVB), is in crisis. Risk firms advised portfolio companies to pull money out of SVB after the bank said it would post a $1.8bn loss related to the sale of securities. Then, after stopping trading and asking staff to work from home, allegedly when SVB was looking for a buyer, customers struggled to transfer funds from the bank. And on Friday, regulators shut down SVB, which is now in charge of the bank’s deposits. There’s no doubt that there will be a lot more to come, so stay tuned – the entire TC editing team has been killing the coverage.
Decentralize all things: Meta is working on a text-based decentralized app, Ivan write As first reported money control, the new app, codenamed P92, will allow users to log in via their Instagram credentials. Not coincidentally, the project is being overseen by Instagram boss Adam Mosseri, according to platformsand is widely perceived as Meta’s attempt to build an alternative to Twitter or a competitor to Mastodon.
Malware hidden in the woodwork: The US government announced Thursday that it has seized a website used to sell malware designed to spy on computers and cell phones, Lawrence writes The malware in question, NetWire, was reportedly advertised on hacking forums and marketed on a site that looked like a legitimate remote administration tool.
Apple launches a new service: Sarah writes that Apple is launching a music streaming service focused solely on classical music. Based on Apple’s 2021 acquisition of Amsterdam-based streamer Primephonic, the new Apple Music Classic app will offer Apple Music subscribers access to more than 5 million classical music tracks, including new releases in high-quality audio, as well as hundreds of curated playlists, thousands of exclusive albums, and other features like composer biographies and in-depth insights. in key works.
Sports HomePod with display: On the subject of Apple, the company could be labor in a new HomePod device with an integrated display by 2024. The rumor comes from analyst Ming-Chi Kuo, who says the new product could resemble a speaker with a small tablet, similar to the Amazon Echo Show or Google’s Nest Hub.
Arrival heading to the bust: Arrival, the commercial electric vehicle company that went public in 2021, released its preliminary fourth-quarter and full-year earnings reports on Thursday. The essence? The arrival is burning cash and is on the hunt for more. As kirsten reports, the company has yet to generate revenue and jaclyn he writes that he doesn’t expect to do so until 2024. Given the company’s expenses, Arrival’s cash position ($205 million) won’t be enough to keep its wheels rolling for the rest of the year.
No guarantee of privacy: Cerebral has disclosed that it shared the private health information, including mental health assessments, of more than 3.1 million patients in the US with advertisers and social media giants like Facebook, Google and TikTok. The telehealth startup, which exploded in popularity during the COVID-19 pandemic, disclosed the security lapse in a filing with the federal government this week, Zack reports.
ChatGPT goes business: ChatGPT, OpenAI’s AI-powered viral chatbot technology, is now available in a more business-friendly package. Microsoft this week Announced ChatGPT is generally available through the Azure OpenAI Service, the company’s enterprise-focused, fully managed offering designed to give enterprises access to OpenAI technologies with additional governance and compliance features. Customers, who must already be “Microsoft-managed customers and partners,” can now request special access.
Discord embraces AI: Discord Announced this week that it’s releasing a set of new AI experiences for multiple servers. In particular, the platform plans to update its Clyde bot with ChatGPT, allowing users to have extended and more realistic conversations with the chatbot. Beyond that, Discord is updating its moderation tool to harness the power of great language models and launch AI-generated conversation summaries.
Audio
Looking for quality hearing aids from experts in their fields? Look no further than TechCrunch’s collection of podcasts, which is growing substantially by the day. This week in Equity, Alex, maria anna and natasha m. met to go over the most important startup and company news of the week, starting with the situation at SVB. About FoundTC program on founders and company creation, Mate, darrelland Scholarship spoke with Matt Rogers, an entrepreneur who focused on solving food waste, starting in the kitchen. In Chain reaction, jaquelyn interviewed Jack Mallers, the founder and CEO of Strike, a bitcoin-based financial app and payment network that is trying to grow cross-border payment and remittance markets. The TechCrunch podcast covered the proposed bipartisan bill that could lead to a ban on TikTok in the US and the dangers of startups selling our data. And in Tech Crunch liveMatt spoke with Trulioo co-founder Tanis Jorge as well as Blumberg Capital’s David Blumberg about finding a co-founder, building partnerships and navigating the equity division.
TechCrunch+
TC+ subscribers get access to detailed feedback, analysis and surveys, which you know about if you’re already a subscriber. If you’re not, consider signing up. Here are some highlights from this week:
SVB and the financing dilemma: Alex writes about the nightmare that the SVB situation has become for many startup founders. His take? This crisis is going to kill a lot of startups, either quickly or simply by adding enough operational friction to bring them to their knees.
Artificial vision, interrupted: Computer vision could be much faster and better if we skip the concept of still frames and instead look directly at the data stream from a camera. At least, that’s the theory under which Ubicept, the newest creation to emerge from the MIT Media Lab, operates. The wine I have the full report.
Crypto continues its downward spiral: jaquelyn reports that another major crypto-centric company bit the dust this week, leading some analysts to forecast bigger problems for the broader ecosystem. Silvergate Capital, a publicly traded crypto bank, announced on Wednesday that it would be “reducing operations and voluntarily liquidating” its banking division.
