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Happy Friday, folks. It\u2019s Kyle again, Greg\u2019s stand-in for Week in Review. (He\u2019ll be back in a few weeks\u2019 time, not to worry.) If you\u2019re a WiR newbie, it\u2019s the newsletter where we recap the past five days in tech news. I might be biased, but I\u2019d say it\u2019s the best way for the busy person to stay informed. We do our best to serve you, dear reader, over here at TC.<\/p>\n
Before the news, a few plugs:<\/p>\n
TechCrunch Early Stage<\/a> is fast approaching \u2014 it\u2019s on April 20 in Boston this year. If you haven\u2019t been, expect an annual founder summit with sessions from top experts and opportunities to meet fellow entrepreneurs.<\/p>\n Looking farther down the line, there\u2019s Disrupt<\/a>, TechCrunch\u2019s annual flagship conference, taking place September 19\u201321. Excitingly, it\u2019ll feature new stages with industry-specific programming tracks across climate, mobility, fintech, AI and machine learning, enterprise, privacy and security, and hardware and robotics. Don\u2019t miss it.<\/p>\n Now on to WiR.<\/p>\n Silicon Valley Bank implodes: <\/strong><\/a>Silicon Valley Bank Financial, the publicly traded holding firm of\u00a0Silicon Valley Bank<\/a> (SVB), is in crisis<\/a>. Venture firms advised<\/a> portfolio companies to move money out of SVB after the bank said it would book a $1.8 billion loss related to securities sales. Then, after halting trading and asking staff to work from home<\/a> \u2014 reportedly as SVB sought a buyer \u2014 customers were struggling<\/a> to wire funds out of the bank. And on Friday, SVB was shut down<\/a> by regulators, which are now in charge of the bank\u2019s deposits. There\u2019s no doubt far more to come, so stay tuned \u2014 the entire TC edit team has been killing it with coverage.<\/p>\n Decentralize all the things:<\/strong><\/a> Meta is working on a decentralized text-based app, Ivan<\/a> writes. As first reported by MoneyControl<\/a>, the new app, code named P92, will let users log in through their Instagram credentials. Not coincidentally, the project is being overseen by Instagram head Adam Mosseri, according to Platformer<\/a>, and is widely perceived as Meta\u2019s attempt to build a Twitter alternative or Mastodon<\/a>\u00a0competitor.<\/p>\n Malware hiding in the woodwork:<\/strong><\/a> The U.S. government on Thursday announced that it seized a website used to sell malware designed to spy on computers and cell phones, Lorenzo<\/a> writes. The malware in question, NetWire, was reportedly advertised on hacking forums and marketed on a site that made it look like it was a legitimate remote administration tool.<\/p>\n Apple launches a new service<\/strong><\/a>: Sarah<\/a> writes that Apple is launching a music streaming service focused exclusively on classical music. Based on Apple\u2019s 2021 acquisition of Amsterdam-based streamer Primephonic<\/a>, the new\u00a0Apple Music Classical app<\/a> 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 bios and deep dives on key works.<\/p>\n Display-sporting HomePod: <\/strong><\/a>On the subject of Apple, the company could be working<\/a> on a new HomePod device featuring a built-in display for 2024. The rumor comes from analyst Ming-Chi Kuo, who says the new product might look like a speaker with a small tablet \u2014 akin to the Amazon Echo Show<\/a>\u00a0or Google\u2019s\u00a0Nest Hub<\/a>.<\/p>\n Arrival headed for bust:<\/strong><\/a> Arrival, the commercial EV company that went public in 2021, posted its preliminary fourth-quarter and full-year earnings reports Thursday. The gist? Arrival is burning through cash and is on the hunt for more. As Kirsten<\/a> reports, the company has yet to generate any revenue and Jaclyn<\/a> writes that it doesn\u2019t expect to until 2024<\/a>. Taking into account the company\u2019s expenses, Arrival\u2019s cash position \u2014 $205 million \u2014 is not going to be enough to keep its wheels turning through the rest of the year.<\/p>\n No guarantee of privacy:<\/strong><\/a> Cerebral has revealed it shared the private health information, including mental health assessments, of more than 3.1 million patients in the U.S. 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<\/a> reports.<\/p>\n ChatGPT goes enterprise:<\/a><\/strong> ChatGPT, OpenAI\u2019s viral, AI-powered chatbot tech, is now available in a more enterprise-friendly package. Microsoft this week announced<\/a> ChatGPT is generally available through the\u00a0Azure OpenAI Service<\/a>, the company\u2019s fully managed, corporate-focused offering designed to give businesses access to OpenAI\u2019s technologies with added governance and compliance features. Customers, who must already be \u201cMicrosoft managed customers and partners,\u201d can now apply for special access.<\/p>\n Discord embraces AI:<\/strong><\/a> Discord announced<\/a> this week that it\u2019s launching a set of new AI experiences to a number of servers. Most notably, the platform plans to update its Clyde bot with ChatGPT, allowing users to have extended, more realistic conversations with the chatbot. Beyond that, Discord is updating its moderation tool to harness the power of large language models and rolling out AI-generated conversation summaries.<\/p>\n Looking for quality listening material from experts in their fields? Look no further than TechCrunch\u2019s podcast collection, which grows substantially by the day. This week on Equity<\/a>, Alex<\/a>, Mary Ann<\/a> and Natasha M<\/a> gathered to riff through the week\u2019s biggest startup and venture news, starting with the situation at SVB. Over at Found<\/a>, TC\u2019s show about founders and company-building, Matt<\/a>, Darrell<\/a>, and Becca<\/a> spoke with Matt Rogers, an entrepreneur who turned his sights to solving food waste \u2014 starting in the kitchen. On Chain Reaction<\/a>,\u00a0Jacquelyn<\/a> interviewed Jack Mallers, the founder and CEO of Strike, a bitcoin-based payment network and financial app that\u2019s trying to grow cross-border payments and remittance markets. The TechCrunch Podcast<\/a> covered the proposed bipartisan bill that could lead to banning TikTok in the U.S. and the dangers of startups selling our data. And on TechCrunch Live<\/a>, Matt spoke to Trulioo co-founder Tanis Jorge, as well as David Blumberg of Blumberg Capital about finding a co-founder, building partnerships, and navigating the equity split.<\/p>\n TC+ subscribers get access to in-depth commentary, analysis and surveys \u2014 which you know if you\u2019re already a subscriber. If you\u2019re not,\u00a0consider signing up<\/a>. Here are a few highlights from this week:<\/em><\/p>\n SVB and the funding dilemma:<\/a>\u00a0<\/strong>Alex<\/a> writes about the nightmare that the SVB situation has become for many startup founders. His take? This crisis is going to kill a host of startups, either quickly or by simply adding enough operational friction to bring them to their knees.<\/p>\n Computer vision, disrupted:<\/a> <\/strong>Computer vision could be a lot faster and better if we skip the concept of still frames and instead directly analyze the data stream from a camera. At least, that\u2019s the theory that Ubicept \u2014 the newest brainchild spinning out of the MIT Media Lab \u2014 is operating under. Haje<\/a> has the full report.<\/p>\n Crypto continues its downward spiral<\/strong><\/a>: Jacquelyn<\/a> reports that another massive crypto-centric firm bit the dust this week, leading some analysts to forecast bigger problems for the overall ecosystem. Silvergate Capital, a publicly traded crypto bank, announced Wednesday that it would \u201cwind down operations and voluntarily liquidate\u201d its bank division.<\/p>\n<\/div><\/div>\nmost read<\/h2>\n
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