#SILICONVALLEY News

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As OpenAI targets Hollywood with Sora, Runway’s CEO is waiting for the $86 billion Goliath with a ‘sling and a stone’

aol.com Cristóbal Valenzuela is no stranger to weird, scary creatures. As cofounder and CEO of Runway, a five-year-old New York City startup that develops AI tools for video, his…

Vaccines, IVF, That Super Bowl Ad: What to Know About Nicole Shanahan, RFK Jr.’s Running Mate

vanityfair.com Earlier this week, Robert F. Kennedy Jr. announced that his 2024 running mate will not be Aaron Rodgers or Jesse Ventura, but Silicon Valley lawyer (and Sergey Brin ex)…

Starbucks Is the Latest Brand to Eliminate Its Global CMO Role, but Chime's Vineet Mehra Rejects the View That the Position Faces an Existential Threat

entrepreneur.com UPS last December eliminated the role of the chief marketing officer, replacing it with a chief commercial and strategy officer who would oversee product management and…

The Brew’s Weekly News Quiz: March 29

morningbrew.com Morning Brew delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.

Picdoku: Spring break emojis

morningbrew.com Morning Brew delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.

The rise and fall of FTX's Sam Bankman-Fried, the onetime crypto billionaire who was sentenced to 25 years in prison

businessinsider.com Sam Bankman-Fried went from crypto whiz to convicted criminal. Getty Images Sam Bankman-Fried catapulted into a crypto billionaire. Now, his empire is in ruins, and he's…

Where Will Sam Bankman-Fried Be Sent to Prison? The Options Are Bleak

decrypt.co Sam Bankman-Fried shouldn’t expect to get Adderall or good vegetarian cooking where he’s headed, according to a federal prison system expert. He’ll be lucky if he’s able to…

2:00PM Water Cooler 3/28/2024

nakedcapitalism.com In Case You Might Miss… “So many of the social reactions that strike us as psychological are in fact a rational management of symbolic capital.” –Pierre Bourdieu,…

Financial Crimes Weekly: Insider Trading At Arista, Del Taco; KuCoin In Civil Action Suit

benzinga.com Andreas Bechtolsheim, founder and chief architect of Silicon Valley-based technology company Arista Networks Inc ANET, this week agreed to settle charges of insider trading,…

Meriwest Credit Union Becomes Official Credit Union Partner of Bay FC

benzinga.com Meriwest Credit Union and Bay FC Unite to Empower Women in Sports and Strengthen Local Communities SILICON VALLEY, Calif., March 28, 2024 (GLOBE NEWSWIRE) -- Meriwest Credit…

Trump Media Options Are So Costly Bill Gross Wants to Sell Them

finance.yahoo.com Trading options tied to former president Donald Trump’s media company is attracting meme-stock traders and Wall Street professionals. Add to that list erstwhile “Bond King”…

Palmer Luckey says Anduril is working on AI weapons that 'give us the ability to swiftly win any war'

businessinsider.com Palmer Luckey, founder of Oculus and Anduril Industries. Patrick T. Fallon/Getty Images Palmer Luckey says his defense tech startup is working on weapons that could change…

Sam Bankman-Fried sentenced to 25 years in jail for crypto fraud

semafor.com The News Sam Bankman-Fried, the disgraced founder of the now-bankrupt cryptocurrency firm FTX, was sentenced Thursday to 25 years in prison for stealing customers’ money and…

MicroStrategy’s Bitcoin Bet Lifts Its Market Cap Above Nearly Half of S&P 500 Firms

finance.yahoo.com Want a sense of how wild this year’s crypto rally has become: A software maker that’s also considered a Bitcoin hedge fund of sorts now has a stock market capitalization…

Los Angeles Office Tower Dumped by Brookfield Faces Foreclosure Sale

finance.yahoo.com An office tower in downtown Los Angeles is facing foreclosure a year after the owner, an affiliate of Brookfield Asset Management Ltd., walked away from the building. • None…

AI Ph.D.s are flocking to Big Tech. Here’s why that could be bad news for open innovation

aol.com The current debate as to whether open or closed advanced AI models are safer or better is a distraction. Rather than focus on one business model over the other, we must…

As SBF awaits sentencing, his successor defends cleanup of messy aftermath

semafor.com The Scene When Sam Bankman-Fried appears in court today to be sentenced, one person who won’t be there is the man who’s spent the past 16 months sorting through what the…

Tesla’s $350 Billion Stock Slump Shreds Investor Expectations

finance.yahoo.com Tesla Inc. shares have shown signs of life in recent days after this year’s extreme slide, but investors lack the clarity needed to bet on any lasting recovery. • None Biden…

Wobbly Bay Area office market spurs delay of huge San Jose tech campus

siliconvalley.com SAN JOSE — A huge tech campus proposed for downtown San Jose could be delayed for a few years, fresh evidence that the Bay Area’s wobbly office market and tricky economy…

As cocoa prices soar this Easter, chocolatiers consider alternatives

aol.com Cocoa prices are surging so high, the Easter Bunny might want to hoard its chocolate. Consumers hunting for Easter eggs and chocolate bunnies this year can expect sticker…

French deep tech spinout Diamfab crystallizes hopes for diamond semiconductors to support green transition

techcrunch.com As more funding flows into deep tech to address difficult global problems like climate change, PhD entrepreneurs coming out of Europe’s top universities and labs are…

Democrats Furiously Finger-Wagging Over Billionaire Nicole Shanahan as RFK, Jr.’s Vice Presidential Pick

nakedcapitalism.com If the level of upset is an indication, Team Dem is seriously worried about Nichole Shanahan joining RFK, Jr.’s ticket as his vice president. For sake of convenience, we’ll…

How Sam Bankman-Fried’s possible sentence stacks up against the century’s biggest fraudsters

vox.com Former FTX CEO Sam Bankman-Fried arrives for a bail hearing at Manhattan Federal Court on August 11, 2023, in New York City. | Michael M. Santiago/Getty Images SBF vs.…

Old Xi Speech on China’s Monetary Tools Catches Trader Eyes

finance.yahoo.com A line from a 172-page book citing President Xi Jinping’s comments on the nation’s monetary tools became a hot talking point among stock and bond traders Thursday. • None…

America's new innovation hotspots, mapped

axios.com Data: National Science Foundation; Note: Patents identified by location of inventors; Excludes metros with fewer than 50 patents in 2022; A bigger bubble indicates greater…

Alphabet and Amazon Stocks Surge to All-Time Highs: Buy These "Magnificent Seven" Stars Now or Regret It Later

finance.yahoo.com The inflation panic took the wind out of Wall Street's sails, especially where it crosses Silicon Valley in a proverbial sense. The stocks of tech titans Amazon.com (NASDAQ:…

Sam Bankman-Fried will grow old in jail. But don’t forget those who basked in his orbit

theguardian.com Later today, a man who has recently turned 32 will be hauled in front of a Manhattan judge. Already convicted of huge fraud, he knows he’s going to prison. The only question…

Oppenheimer in flip flops

ft.com Silicon Valley has found a lucrative trade selling AI-powered weapons — and Palmer Luckey is leading the way

SEC Ramps Up Massive-Hack Probe With Focus on Tech, Telecom Companies

finance.yahoo.com The US Securities and Exchange Commission is asking tech and telecom companies how they handled the sprawling 2020 SolarWinds cyberattack, and drawing fire from the…

Amazon invests another US$2.75 billion in OpenAI rival Anthropic

scmp.com Amazon invests US$2.75 billion more in OpenAI rival Anthropic to boost generative AI efforts Amazon.com says it is investing an additional US$2.75 billion in Anthropic,…

Amazon injects another $2.75 billion into startup founded by siblings who worked at OpenAI

fortune.com Amazon.com Inc. says it’s investing an additional $2.75 billion in Anthropic, completing a deal it made last year to back the artificial intelligence startup and expand a…

Short Seller’s Winning Bet Means Permanent Payments to Jefferies

finance.yahoo.com A short seller that bet against a struggling retail chain claims it’s now paying the price: an endless stream of monthly payments to Jefferies LLC, which lent it the shares…

RFK Jr.'s surprising VP strategy

msnbc.com Independent presidential candidate Robert F. Kennedy Jr. has chosen a vice presidential pick: Silicon Valley attorney and entrepreneur Nicole Shanahan. It’s a surprising…

Office redesigns should focus on enabling hybrid work arrangements, AI: study

aol.com Employees have positive views about returning to the office but expect it to look and feel differently than it did before the pandemic to accommodate hybrid arrangements as…

Who Is Nicole Shanahan, RFK Jr.’s Pick for Vice President?

hollywoodreporter.com The first major running mate announcement of the 2024 presidential election cycle came much earlier than usual this week, as White House hopeful Robert F. Kennedy, Jr. held…

Databricks CEO Says Competition Spurred High-Profile Exit at Snowflake

finance.yahoo.com Databricks Inc., a closely held analytics software maker, says competition from his company fueled a high-profile executive departure at rival Snowflake Inc. • None Biden…

JPMorgan Says Stocks Are So Crowded They May Crack at Any Time

finance.yahoo.com It’s the talk of the stock market: What will be the sign that the five-month rally in US equities is coming to an end. But if you ask JPMorgan Chase Co.’s Dubravko…

Brew Mini: Chain letters

morningbrew.com Morning Brew delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.

Apple Brought Justice Department's Antitrust Lawsuit on Itself

newsweek.com Even if you're a fan of small, limited, or no government at all, and even if you're suspicious of the Biden administration's motives in general, as a consumer you should be…

The UK threw a splashy event in New York this week to woo more American VCs

techcrunch.com The UK threw a splashy event in New York this week to woo more American VCs Welcome to the new UK: the Unicorn Kingdom A 3-D hologram, dubbed the Ever-Changing Statue, will…

Power up: PG&E says electricity plan can boost innovation and economy

siliconvalley.com SAN JOSE — PG&E is pushing forward with quests to help bolster Silicon Valley’s economy and innovation future, including major South Bay and East Bay electricity projects,…

Women outearn men in just a handful of U.S. cities, report finds

fortune.com The more things change…you know the rest. Despite enormous strides across sectors, women still earn about 83 cents on the man’s dollar—yes, even now. The pandemic didn’t…

Without Content, OpenAI’s Sora and Generative AI Tech Are Useless. So Shouldn’t Artists Get Paid?

thewrap.com What do generative AI tech “startups” OpenAI (the creator of ChatGPT) and rivals Anthropic, Cohere and Perplexity all have in common? They are privately held companies…

'A great culture will be lost if the EV brigade gets its way'

theweek.com There are many reasons to be outraged over the Biden administration's "ongoing attempt to coerce us into electric vehicles over the next decade," says Charles C.W. Cooke. "I…

Robinhood Unveils Credit Card in Further Push Beyond Trading

finance.yahoo.com Robinhood Markets Inc., best known for offering commission-free trading, is rolling out a credit card to US consumers as it looks to become a broader financial-services…

Daily Digest: Developer surrenders Oakland towers; Robinhood's 'Gold Card'

bizjournals.com Meanwhile, the SEC has levied insider trading allegations at a big Silicon Valley tech founder, who settled with the agency.

Coinbase loses round in legal fight with SEC as judge clears way for trial

dlnews.com A federal judge on Tuesday denied Coinbase’s request to throw out a lawsuit brought against the listed exchange by the US markets watchdog. The case will now proceed to…

How can Donald Trump’s lossmaking Truth Social be worth $9bn?

theguardian.com Donald Trump’s social network went public on Tuesday and almost immediately hit a valuation of almost $8bn (£6.3bn). The valuation fell back to a more modest $6.58bn by the…

California looks to Europe to rein in AI

yahoo.com Legislators in the California state capitol are working on a flurry of laws aiming to crack down on abusive uses of artificial intelligence on the home turf of some of the…

AI Rally Expands Beyond Nvidia as Investors Bid Up Hardware

finance.yahoo.com They may lack the pure-play allure of Nvidia Corp., but hardware firms that provide the infrastructure for artificial intelligence computing are becoming the next hot trade.…

Retirees are returning to the workforce in droves: Here's why

aol.com It used to be when you turn 65, most people put down the work and retire. However, the newest trend is "unretiring," with as many as 20% of older workers rejoining the labor…

Xi Meets US CEOs, Seeking to Boost Confidence in China’s Economy

finance.yahoo.com President Xi Jinping met with a group of American business executives in Beijing including Blackstone’s Stephen Schwarzman and Qualcomm Inc.’s Cristiano Amon as China is…

'Apple will prevail': US faces uphill slog in new antitrust battle

finance.yahoo.com Attorney General Merrick Garland made a bold statement last week when he announced a new antitrust lawsuit against Apple (AAPL): "The United States normally wins the cases…

Japan Steps Closer to Intervention as Yen Hits Lowest Since 1990

finance.yahoo.com Japan stepped closer to currency intervention with its strongest warning yet after the yen slid to the weakest level in about 34 years against the dollar. • None Trump’s Net…

Enovix Awarded 15-Year Pioneer Status from Malaysian Investment Development Authority for its High-Volume Manufacturing Facility

benzinga.com FREMONT, Calif., March 27, 2024 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix") ENVX, a global high-performance battery company, today announced it has been granted…

Nvidia is about to face its first major threat as rivals target its special sauce

businessinsider.com Jensen Huang may be facing a major challenge to Nvidia's dominant run. EDGAR SU / Reuters Nvidia has felt invincible in the generative AI era. However, some of its…

AI chatbot letdown: Hype hits rocky reality

axios.com Grumbles about generative AI's shortcomings are coalescing into a "trough of disillusionment" after a year and a half of hype about ChatGPT and other bots. Why it matters:…

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