TechCrunch

MARCH 11, 2023

The sudden collapse of Silicon Valley Bank , which served as lifeblood for startups , is also impacting firms 8,000 miles away. Dozens of young Indian startups backed by the likes of YC, Accel, Sequoia India, Lightspeed, SoftBank and Bessemer Venture Partners banked with Silicon Valley Bank, sometimes as their only banking partner, and couldn’t take out the money on time, multiple people familiar with the situation said.

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Dzone - DevOps

MARCH 11, 2023

Failover is an important feature of systems that rely on near-constant availability. In Hazelcast, a failover client automatically redirects its traffic to a secondary cluster when the client cannot connect to the primary cluster. Consider using a failover client with WAN replication as part of your disaster recovery strategy. In this tutorial, you’ll update the code in a Java client to automatically connect to a secondary, failover cluster if it cannot connect to its original, primary cluster.

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TechCrunch

MARCH 11, 2023

W elcome to the TechCrunch Exchange, a weekly startups-and-markets newsletter. It’s inspired by the daily TechCrunch+ column where it gets its name. Want it in your inbox every Saturday? Sign up here. Enterprise cloud spend is holding up well, but large companies are looking into vendor consolidation. This makes cloud marketplaces an increasingly relevant sales channel for B2B startups. — Anna Beyond the good news: Headwinds for early-stage enterprise startups Battery Ventures’ state of cl

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Women on Business

MARCH 11, 2023

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TechCrunch

MARCH 11, 2023

Welcome to Startups Weekly, a nuanced take on this week’s startup news and trends by Senior Reporter and Equity co-host Natasha Mascarenhas. To get this in your inbox, subscribe here. Writer’s note: We’re breaking from our usual formatting this week because there was a once-in-a-generation collapse of one of the biggest banks in the country. Today’s space has been dedicated to our coverage on the matter, but we will be back to broader programming next week.

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TechCrunch

MARCH 11, 2023

While the public market correction has been widespread, tech and fintech stocks have seen the largest declines, according to a recent report. Specifically, the Fintech Index — which tracks the performance of emerging, publicly traded financial technology companies — was down a staggering 72% in 2022, according to F-Prime Capital’s State of Fintech 2022 report.

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TechCrunch

MARCH 11, 2023

Brex CEO Henrique Dubugras is currently working to raise over a billion dollars in a weekend to help fund an emergency bridge credit line that he believes will help startup customers impacted by Silicon Valley Bank’s collapse be able to make payroll next week. Dubugras declined to comment on how much capital has been committed for the credit line thus far, but said he’s on back to back calls trying to get funds locked down.

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TechCrunch

MARCH 11, 2023

Happy Friday, folks. It’s Kyle again, Greg’s stand-in for Week in Review. (He’ll be back in a few weeks’ time, not to worry.) If you’re a WiR newbie, it’s the newsletter where we recap the past five days in tech news. I might be biased, but I’d say it’s the best way for the busy person to stay informed.

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ChatGPT Banking Enterprise Artificial Inteligence 234

TechCrunch

MARCH 11, 2023

The dust has yet to settle in the largest bank run in U.S. history, a collapse that in just 48 hours dismantled the tech startup-focused Silicon Valley Bank. But already a debate is raging in the venture capital community and investors are picking sides. On Friday, a group of more than two dozen venture capital firms issued a joint statement that supports Silicon Valley Bank.

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TechCrunch

MARCH 11, 2023

Serial entrepreneur and venture capitalist Garry Tan is less than three months into his new job as the CEO of Y Combinator, one of the most famed accelerator programs in tech. And it seems like it’s been an eventful onboarding process thus far. Along with pretty much every other corner of the startup world, YC was also affected by Silicon Valley Bank’s collapse: 30% of companies are exposed through SVB and are at risk of not being able to make payroll, he tweeted Saturday.

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TechCrunch

MARCH 11, 2023

Founders and venture capitalists aren’t the only ones experiencing volatility right now: Silicon Valley Bank employees are seeing their jobs in flux as their employer falls apart. SVB, which was closed down yesterday, is now being run by regulators. And while employees are no longer employed by the bank, they got an e-mail from “the office of the CEO” saying that they have jobs for the next 45 days at 1.5x their current salary.

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TechCrunch

MARCH 11, 2023

Brett Adcock Contributor Share on Twitter Brett Adcock is the founder of Figure, an AI robotics company building a general-purpose humanoid robot. Previously, he founded Archer Aviation, an urban air mobility company that went public at $2.7B and Vettery, a machine learning-based talent marketplace that was acquired for $110M. Yesterday, the U.S. experienced its second-largest bank failure in history.

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