The Sunday Brew #18
In this brew - SVB Crash, Coming of GPT-4, Twitter Files and a Study about Impact of Connectivity on Innovation
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TOP STORY
The Silicon Valley Bank Crash
Early on Saturday, the collapse of Silicon Valley Bank started pouring in and it is still a developing news. Everyone is scrambeling to comprehend the full extent of the situation and what the ripple effects would be.
Silicon Valleye Bank, which just 3 days ago was listed by forbes among top banks of USA, holds large funds of major tech startups - unicorns or otherwhise - as well as the fund they hold on behalf of their users, clients etc.
While it will take a while to gather the full impact and the cuase behing it, the short story is that the money which SVB parked in long term investments considered safe - treasury, mortgage bonds etc. - went from $91B to estimated $15B. This is being said an outcome of increase of interest rates by feds.
It should be noted that SVB crash is the largest bank failure in US since 2008.
For continued update and a detailed analysis of the situation you can follow
on TwitterRipple effect of this crash is being felt elsewhere in the world as well. UK Chancellor Jeremy Hunt was reported to be in meetings to prepare to protect UK Tech companies from potential effect. Read On»»»
Most of the startups from India and other countries which joins programs like Y Combinator or incorporate in US, generally bank with SVB and this collapse can vertually shut them down.
WEEK’S PICK
Amazed by GPT-3? Get Over. GPT-4 is Here
The hype around Generative AI capabilities made possible by GPT-3 has been huge. OpenAI’s ChatGPT had seen massive interest when they opened their public test version culminating in to a $10B commitment by Microsoft in OpenAI.
Now, on 9th March Anreas Braun, CTO at Microsoft Germany announced imminant arrival of GPT-4, “We will introduce GPT-4 next week, there we will have multi-modal models that will offer completely different possibilities – for example videos,”.
There have been a lot of speculation around the capabilities of GPT-4 and it is suggested to be far more transformative.
Twitter Files is a Gift, that Keeps Giving
Elon Musk after taking charge as the Chief Twit had given access to a select set of independent media people. Since then series of Twitter Files keeps exposing the level at which government influence affected content moderation on the platform.
Here is a new series tweeted by
Meet to Innovate - A Study on What Affects Innovation
A study on the impact of connectivity on innovation in global context is published and indicates that the centers which offer easy commute and direct flight connect leads to high innovation concentration in those centers.
The focus of the study is on firm innovation and in person interaction between managers resulting in increased citation and collaborative patent filing.
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