Silicon Valley bank collapses, Apple launches a new music service, and ChatGPT is becoming an institution

Happy Friday guys. It’s Kyle again, Greg’s stand-in for Week in Review. (He’ll be back in a few weeks, not to worry.) If you’re a WiR newbie, this is the newsletter where we recap the past five days in tech news. I may be biased, but I’d say it’s the best way for a busy person to stay informed. We do our best to serve you, dear reader, here at TC.

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Silicon Valley Bank Collapse: Silicon Valley Bank Financial, the publicly traded holding company Silicon Valley Bank (SVB), in calamity. adventure companies advised Portfolio companies are moving money out of SVB after the bank said it would post a $1.8 billion loss related to sales of securities. after that Stop trading and ask employees to work from home – Reportedly, when SVB sought a buyer – so were the clients Struggle To transfer money from the bank. And on Friday, it was SVB close By regulators, who are now responsible for bank deposits. There’s no doubt that there’s more to come, so stay tuned — the entire VC editorial team has been killing it with coverage.

Decentralize all things: Meta is working on a decentralized script application, Ivan He writes. As I first mentioned before MoneyControlThe new app, code named P92, will allow users to log in with their Instagram credentials. It is no coincidence that the project is overseen by Adam Mosseri, head of Instagram, according to him Curriculumand is widely seen as Meta’s attempt to build an alternative to Twitter or Twitter mastodon competitor.

Malware hiding in the woodwork: The US government announced Thursday that it has seized a website used to sell malware designed to spy on computers and mobile phones. Lorenzo He writes. The malware in question, NetWire, was reportedly advertised on hacking forums and marketed on a site that made it look like a legitimate remote administration tool.

Apple launches a new service: pleasant He writes that Apple is launching a music streaming service that focuses exclusively on classical music. Based on Apple 2021 Acquisition of Amsterdam-based streaming device Primephonicthe new The classic Apple Music app It will give Apple Music subscribers access to more than 5 million classic tracks, including new releases in high-quality sound, as well as hundreds of curated playlists, thousands of exclusive albums and other features like composer bios and deep dives into major works.

HomePod Sports Display: On the subject of Apple, it could be the company a job on a new HomePod featuring a built-in display for 2024. The rumor comes from analyst Ming-Chi Kuo, who says the new product may look like a speaker with a small tablet — similar to Amazon Echo Show or google Nest Hub.

His arrival is heading towards bankruptcy: Access, the commercial electric vehicle company that went public in 2021, announced its preliminary earnings reports for the fourth quarter and the full year on Thursday. essence? Reach is burning through cash and is on the hunt for more. like Kirsten Reports, the company did not generate any revenue and Jacqueline write it Don’t expect until 2024. Taking into account the company’s expenses, Wusool’s cash position — $205 million — won’t be enough to keep its wheels turning through the rest of the year.

No privacy guarantee: Cerebral disclosed that it has shared private health information, including mental health assessments, of more than 3.1 million patients in the US with advertisers and social media giants such as Facebook, Google and TikTok. The telehealth company, which has gone viral during the COVID-19 pandemic, disclosed the security outage in a filing with the federal government this week, dreamcatcher reports.

ChatGPT goes to the organization: ChatGPT, OpenAI’s AI-powered viral chatbot technology, is now available in a more enterprise-friendly package. Microsoft this week announce ChatGPT is generally available through Azure OpenAI Service, a fully managed, company-centric offering designed to give companies access to OpenAI technologies with additional governance and compliance features. Customers, who must already be “Microsoft Managed Customers and Partners,” can apply for special access.

Discord Embraces Artificial Intelligence: disagreement announce This week it launches a bunch of new AI experiments for a number of servers. Notably, the platform plans to update its Clyde bot with ChatGPT, allowing users to have expanded and more realistic conversations with the chatbot. Furthermore, Discord is updating its moderation tool to harness the power of large language models and publish AI-generated summaries of conversations.

My voice

Are you looking for quality listening material from experts in their fields? Look no further than TechCrunch’s podcast collection, which is growing exponentially by the day. this week justiceAnd AlexAnd Mary Ann And Natasha M Gather together to poll through the week’s biggest startup and venture news, starting with the position at SVB. in more than is foundTC program about founders and building companies, not shinyAnd DarylAnd pica Talk to Matt Rogers, the entrepreneur who’s set his sights on solving food waste — starting in the kitchen. on chain reactionAnd Jacqueline He interviews Jack Mallers, founder and CEO of Strike, a bitcoin-based payment network and financial app trying to grow cross-border payments and remittance markets. Techcrunch podcast Coverage of the proposed bipartisan bill that could lead to TikTok being banned in the US and the risks of startups selling our data. and on Techcrunch LiveMatt spoke to Trulioo co-founder Tanis Jorge, as well as Blumberg Capital’s David Blumberg about finding a co-founder, building partnerships, and moving beyond stock splits.

Techcrunch +

TC+ subscribers get access to in-depth comments, analysis, and polls – which you know if you’re already a subscriber. If you do not, Consider recording. Here are some highlights from this week:

SVB and the Funding Dilemma: Alex He writes about the nightmare that SVB status has become for many startup founders. take it? This crisis will kill a whole lot of startups, either quickly or simply by adding enough operational friction to bring them to their knees.

Computer vision is off: 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, that’s the theory according to which Ubicept works – the latest brainchild that came out of the MIT Media Lab. Pilgrim He has the full report.

Crypto continues its downward spiral: Jacqueline Reports indicate that another massive cryptocurrency-focused company has been gathering dust this week, leading some analysts to predict even bigger problems for the overall ecosystem. Silvergate Capital, a publicly traded crypto bank, announced on Wednesday that it will “voluntarily wind down operations and liquidate” its banking division.

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