Tag: venture capital
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OpenAI CEO Sam Altman says he’s a “bit scared” of AI
Sam Altman, co-founder and CEO of OpenAI Inc., speaks at TechCrunch Disrupt 2019 in San Francisco, California, on Thursday, October 3, 2019. David Paul Morris | Bloomberg | Getty Images Sam Altman, CEO of OpenAI, said in a recent interview with ABC News that he is “a little scared” of artificial intelligence technology and how […]
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Southeast Asian VC firms are more affected by SVB outages than startups
While SVB serves tech startups and venture capital firms primarily based in the US or with a presence in the US, some VCs in Southeast Asia – such as Jungle Ventures and Golden Gate Ventures – were also clients of SVB. Many VC firms in Southeast Asia could face challenges in finding another bank that […]
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What the collapse of the Silicon Valley Bank means for climate technology
Silicon Valley Bank was the go-to bank for startups who wanted to talk to bankers who understood startup life and balance sheet, including climate tech startups. Specifically, Silicon Valley Bank has been the “£1,000 gorilla in the room” in providing venture capital to startups, meaning loans are made to startups that are still raising money […]
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The failure of SVB will have a ripple effect in technology for years to come
The collapse of the Silicon Valley Bank will likely be felt in the technology landscape around the world for years to come. Investors who spoke to CNBC said there could be problems for startups trying to access their funds and lines of credit to pay employees. Startups may also need to tighten their belts, while […]
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The collapse of the Silicon Valley Bank will hurt the startup world, despite the bailout
Regulators have found a solution for SVB bank depositors and possibly averted a widespread regional bank run. But the long-term crisis for financing innovation in the aftermath of the Silicon Valley Bank implosion has only just begun. From the Rust Belt to the UK, Egypt and Nigeria, the bank’s role in financing innovation has been […]
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SVB collapse unlikely to trigger fundraising for Southeast Asian startups: VCs
VCs and an analyst told CNBC that the collapse of Silicon Valley Bank is unlikely to affect fundraising for tech startups in Southeast Asia. “I think it’s looking out, but I don’t think the contagion is spreading,” David Gowdey, managing partner at Southeast Asian venture capital firm Jungle Ventures, told CNBC’s “Squawk Box Asia.” Constellation […]
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Venture investors pledge to partner with Silicon Valley Bank if a new owner is found
On March 10, 2023, a sign hangs at the headquarters of Silicon Valley Banks in Santa Clara, California. Noah Berger | AFP | Getty Images More than 300 venture capital firms have signed a joint statement promising to do business with Silicon Valley Bank again if it is “purchased and appropriately capitalized” after the financial […]
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Silicon Valley Bank employees received bonuses hours before the acquisition
Silicon Valley Bank employees received their annual bonuses Friday just hours before regulators seized the failing bank, according to people with knowledge of the payments. The payments were for work done in 2022 and were pending days before the bank collapse, these people said. SVB chief executive Greg Becker addressed employees on Friday in a […]
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Deadly Tesla fire truck collision under federal investigation
Federal vehicle safety regulators have launched a special accident investigation to determine the cause of a fatal collision between a Tesla Model S and a fire engine in February 2023. The driver of the Model S died, a passenger was seriously injured and four firefighters were taken to the hospital immediately after the crash, according […]