{"id":8914,"date":"2023-03-17T22:05:28","date_gmt":"2023-03-17T22:05:28","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/03\/17\/daily-crunch-with-just-2-2b-in-remaining-liquidity-svbs-parent-company-files-for-bankruptcy\/"},"modified":"2023-03-17T22:05:28","modified_gmt":"2023-03-17T22:05:28","slug":"daily-crunch-with-just-2-2b-in-remaining-liquidity-svbs-parent-company-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/03\/17\/daily-crunch-with-just-2-2b-in-remaining-liquidity-svbs-parent-company-files-for-bankruptcy\/","title":{"rendered":"Daily Crunch: With just $2.2B in remaining liquidity, SVB\u2019s parent company files for bankruptcy"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p id=\"speakable-summary\"><em>To get a roundup of TechCrunch\u2019s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, <\/em><a href=\"https:\/\/techcrunch.com\/newsletters\/\" target=\"_blank\" rel=\"noopener\"><em>subscribe here<\/em><\/a><em>.<\/em><\/p>\n<p>Happy Friday Crunch!<\/p>\n<p>There\u2019s a persistent theory in hardware that manufacturing overseas is the cheaper\/better\/more efficient option. You manufacture there, assemble somewhere else, and finally approve and get to market in the United States, <a href=\"http:\/\/twitter.com\/haje\" target=\"_blank\" rel=\"noopener\">Haje<\/a> writes on TC+. <a href=\"https:\/\/techcrunch.com\/2023\/03\/17\/bringing-manufacturing-back\/\" target=\"_blank\" rel=\"noopener\">It turns out that it\u2019s possible to manufacture closer to home<\/a>. With supply chains in the news more than ever, \u201cnearshoring\u201d is an oft-overlooked option for startups.<\/p>\n<p>On that note \u2014 we\u2019re going to drink a beer with a shamrock poured into the foam, for no particular reason whatsoever.\u00a0 \u2014 <a href=\"https:\/\/twitter.com\/ChristineMHall\" target=\"_blank\" rel=\"noopener\">Christine<\/a> and <a href=\"http:\/\/twitter.com\/haje\" target=\"_blank\" rel=\"noopener\">Haje<\/a><\/p>\n<h2>The TechCrunch Top 3<\/h2>\n<ul>\n<li><a href=\"https:\/\/techcrunch.com\/2023\/03\/17\/svb-financial-files-for-ch-11-bankruptcy-protection-says-it-has-2-2b-in-liquidity\/\" target=\"_blank\" rel=\"noopener\"><strong>Next stop, Chapter 11<\/strong><\/a>: Today, SVB Financial filed for Chapter 11 bankruptcy protection, disclosing that it has $2.2 billion in liquidity,<a href=\"https:\/\/twitter.com\/ingridlunden\" target=\"_blank\" rel=\"noopener\"> Ingrid<\/a> reports. \u201cThis will mean that SVB Financial can apply, and plans to apply, to the courts to resume activities while finding buyers for its assets, which include going ahead with its plans to sell off SVB Securities and SVB Capital, and more,\u201d Ingrid notes.<\/li>\n<li><a href=\"https:\/\/techcrunch.com\/2023\/03\/17\/meta-launches-paid-verification-on-instagram-and-facebook-in-the-us\/\" target=\"_blank\" rel=\"noopener\"><strong>More that we didn\u2019t ask for<\/strong><\/a>: Now U.S. users can add a coveted blue check mark to their Instagram and Facebook accounts \u2014 well, at least get on the waitlist to do so \u2014 for a monthly fee, that is, <a href=\"https:\/\/twitter.com\/AiishaMalik1\" target=\"_blank\" rel=\"noopener\">Aisha<\/a> reports. Nothing in life is truly free, loves. But there are stickers, so there\u2019s that.<\/li>\n<li><a href=\"https:\/\/techcrunch.com\/2023\/03\/17\/a-500-million-term-sheet-in-12-hours-how-rippling-struck-a-deal-as-svb-was-melting-down\/\" target=\"_blank\" rel=\"noopener\"><strong>In the nick of time<\/strong><\/a>: As a serial entrepreneur who has famously endured some ups and downs, Parker Conrad has nearly seen it all. Or so he might have thought until last week, <a href=\"https:\/\/twitter.com\/cookie\" target=\"_blank\" rel=\"noopener\">Connie<\/a> reports. Rippling, his six-year-old workforce management company, would go on to secure $500 million in fresh funding as a kind of insurance in the very likely scenario that SVB\u2019s meltdown wasn\u2019t resolved nearly as quickly as it happened.<\/li>\n<\/ul>\n<h2>Startups and VC<\/h2>\n<p>Last night, the news broke that Virgin Orbit was pausing operations for at least a week while it looked for funding to support the business. As part of that pause, company executives reportedly told staff in an all-hands meeting that they were being furloughed \u2014 and that it would be unpaid. <a href=\"https:\/\/techcrunch.com\/2023\/03\/16\/virgin-orbit-staff-furlough\/\" target=\"_blank\" rel=\"noopener\">it never should\u2019ve come to a staff furlough<\/a>, however, <a href=\"https:\/\/twitter.com\/breadfrom\" target=\"_blank\" rel=\"noopener\">Aria<\/a> writes.<\/p>\n<p><a href=\"https:\/\/techcrunch.com\/2023\/03\/17\/unearthly-materials-superconductors-investors\/\" target=\"_blank\" rel=\"noopener\">Unearthly Materials claimed to have big-name investors<\/a>, but they weren\u2019t all on board, <a href=\"https:\/\/twitter.com\/tdechant\" target=\"_blank\" rel=\"noopener\">Tim<\/a> reports over on TC+. The startup claims it\u2019s on the cusp of a superconductor breakthrough despite questionable scientific record.<\/p>\n<p>And we have five more for you, complete with saltier-than-usual commentary:<\/p>\n<h2>Best practices for changing times: How founders should leverage AI and ML in 2023<\/h2>\n<div id=\"attachment_2514545\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><\/p>\n<p id=\"caption-attachment-2514545\" class=\"wp-caption-text\"><strong>Image Credits:<\/strong> Getty Images<\/p>\n<\/div>\n<p>We don\u2019t run many articles promoting basic best practices. Suggestions like \u201clisten to your customers\u201d and \u201cmake data-driven decisions\u201d are so general, they\u2019re hard to implement.<\/p>\n<p>But now that AI-driven solutions are offering search results, producing poems and generating illustrations on demand, startups need a framework for creating customized user experiences, according to Ab Gaur, founder and CEO of Verticurl.<\/p>\n<p>\u201cWhile excessive or unhelpful customer data can clog content pipelines, the right information can power hyper-personalization at scale,\u201d he writes.<\/p>\n<p>Three more from the TC+ team:<\/p>\n<p><a href=\"https:\/\/techcrunch.com\/techcrunchplus\/\" target=\"_blank\" rel=\"noopener\"><em>TechCrunch+<\/em><\/a><em> is our membership program that helps founders and startup teams get ahead of the pack.<\/em><a href=\"https:\/\/link.techcrunch.com\/click\/26685582.342535\/aHR0cHM6Ly90ZWNoY3J1bmNoLmNvbS9zdWJzY3JpYmUvP3V0bV9tZWRpdW09VENuZXdzbGV0dGVyJnRwY2M9VENkYWlseW5ld3NsZXR0ZXI\/6036d5494a049802a929497cBf82fd2bd\" target=\"_blank\" rel=\"noopener\"><em> You can sign up here<\/em><\/a><em>. Use code \u201cDC\u201d for a 15% discount on an annual subscription!<\/em><\/p>\n<h2>Big Tech Inc.<\/h2>\n<p>TikTok had a lot going on in the past day: Taking a nod from several governmental entities in the United States, <a href=\"https:\/\/techcrunch.com\/2023\/03\/17\/new-zealand-bans-tiktok-from-phones-of-parliamentarians\/\" target=\"_blank\" rel=\"noopener\">New Zealand banned TikTok from phones of parliamentarians<\/a>. <a href=\"https:\/\/twitter.com\/indianidle\" target=\"_blank\" rel=\"noopener\">Ivan<\/a> has more on what is going on there. Speaking of the U.S., <a href=\"https:\/\/twitter.com\/tayhatmaker\" target=\"_blank\" rel=\"noopener\">Taylor<\/a> writes that the government here is <a href=\"https:\/\/techcrunch.com\/2023\/03\/16\/the-us-government-ramps-up-its-pressure-campaign-against-tiktok\/\" target=\"_blank\" rel=\"noopener\">increasing its pressure on TikTok<\/a> to separate from parent company ByteDance or risk also being banned in the U.S. While the social media giant is dealing with that, it\u2019s also managed to <a href=\"https:\/\/techcrunch.com\/2023\/03\/17\/tiktok-and-mls-enter-multi-year-partnership-to-deepen-the-leagues-presence-on-the-app\/\" target=\"_blank\" rel=\"noopener\">strike a multiyear deal with Major League Soccer<\/a> \u2014 well, unless it\u2019s banned in the U.S. For now, the deal will provide exclusive content and other in-app programming, <a href=\"https:\/\/twitter.com\/AiishaMalik1\" target=\"_blank\" rel=\"noopener\">Aisha<\/a> writes.<\/p>\n<p>And we have five more for you:<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/techcrunch.com\/2023\/03\/17\/daily-crunch-with-just-2-2b-in-remaining-liquidity-svbs-parent-company-files-for-bankruptcy\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To get a roundup of TechCrunch\u2019s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Happy Friday Crunch! There\u2019s a persistent theory in hardware that manufacturing overseas is the cheaper\/better\/more efficient option. You manufacture there, assemble somewhere else, and finally approve and get to market in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-8914","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/8914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=8914"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/8914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/8915"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=8914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=8914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=8914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}