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Keyword: siliconvalley

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  • LinkedIn billionaire Reid Hoffman visited Jeffrey Epstein’s private island, planned to visit NYC mansion

    05/11/2023 9:34:43 PM PDT · by george76 · 19 replies
    New York Post ^ | May 3, 2023 | Shannon Thaler
    Billionaire LinkedIn co-founder Reid Hoffman visited Jeffrey Epstein’s private island and had plans to stay at Epstein’s notorious Manhattan townhouse back in 2014.. Hoffman, 55, paid a single visit to Epstein’s Caribbean island Little St. James — also known as “pedophile island,” where Epstein and gal pal Ghislaine Maxwell allegedly abused underage girls, The Wall Street Journal reported. Joi Ito, the then-MIT Media Lab director, was also in attendance, and had asked Hoffman and Epstein to help him raise funds for MIT, ... The documents also detailed Hoffman’s plans to stay the night in Epstein’s townhouse following a late-night flight...
  • Richard Dreyfuss and the Difference Between Cultural Capitulation and Cultural Sensitivity

    05/11/2023 8:41:57 AM PDT · by Rev M. Bresciani · 17 replies
    New American Prophet ^ | May 11, 2023 | Dr. Michael Brown
    What do I mean by cultural capitulation? I mean bowing down to the latest cultural fad, of kowtowing to the most current manifestation of what is PC, of becoming slaves to whatever the societal elites decide is acceptable.
  • Silicon Valley Stumble: Google Puts Massive Campus Construction Project on Indefinite Hold

    04/24/2023 6:13:05 PM PDT · by E. Pluribus Unum · 9 replies
    Breitbart ^ | 24 Apr 2023 | LUCAS NOLAN
    oogle’s ambitious 80-acre “Downtown West” campus project has been put on hold indefinitely as the tech giant faces its most severe cost cuts in its history, leaving San Jose’s downtown area in limbo. CNBC reports that as Google with its most severe cost cuts in history, the internet giant’s ambitious 80-acre “Downtown West” campus project has been put on indefinite hold, leaving San Jose’s downtown area in limbo. The construction project, which was estimated to have an economic impact of around $19 billion, has been put on hold, and there has been no communication with the contractors about when it...

    04/22/2023 9:40:43 AM PDT · by Rummyfan · 8 replies
    New Geography ^ | 20 Apr 2023 | Joel Kotkin
    It is difficult, given what Silicon Valley has become, to convey exactly what it was like in the 1970s and ‘80s. It was a remarkable center of technology, but also the embodiment of the spirit of capitalism at its very best, as epitomized by garage start-ups like Apple. Greed, of course, is always a human motivation, but the early Valley culture was created by entrepreneurial outsiders who genuinely wanted to make the world better. In the early days of the tech revolution, some watchers imagined an almost utopian, communitarian society on the horizon. In 1972, the California writer and zeitgeist...
  • Meta is about to start its next round of layoffs

    04/19/2023 3:48:59 AM PDT · by george76 · 27 replies
    Vox ^ | Apr 18, 2023, | Shirin Ghaffary
    The company plans to lay off employees on Wednesday ... In an internal memo posted to a Meta employee message board on Tuesday evening and viewed by Vox, the company told employees that the layoffs will start on Wednesday and will impact a wide range of technical teams including those working on Facebook, Instagram, Reality Labs, and WhatsApp. A Meta spokesperson confirmed the memo was sent to employees but declined to comment further. The cuts could be in the range of 4,000 jobs ... Meta employees in North America will be notified by email between 4 am to 5 am...
  • The End of Faking It in Silicon Valley

    04/17/2023 2:43:51 PM PDT · by NohSpinZone · 23 replies
    NYT via SF Gate ^ | 4/17/2023 | By Erin Griffith
    Take what happened in the past two weeks: Charlie Javice, the founder of the financial aid startup Frank, was arrested, accused of falsifying customer data. A jury found Rishi Shah, a co-founder of the advertising software startup Outcome Health, guilty of defrauding customers and investors. And a judge ordered Elizabeth Holmes, the founder who defrauded investors at her blood testing startup Theranos, to begin an 11-year prison sentence April 27. *SNIP* When Javice was trying to sell her college financial planning startup, Frank, to JPMorgan Chase, she told an employee not to share exactly how many people used Frank’s service,...
  • Warren, Ocasio-Cortez want details from Silicon Valley Bank’s large depositors

    04/10/2023 8:44:28 AM PDT · by ChicagoConservative27 · 12 replies
    The Hill ^ | 04/10/2023 | STEPHEN NEUKAM
    Sen. Elizabeth Warren (D-Mass) and Rep. Alexandria Ocasio-Cortez (D-N.Y.) are pressing some of the largest depositors at the failed Silicon Valley Bank to reveal the nature of their relationship with the firm that collapsed last month. Warren and Ocasio-Cortez, two of the most progressive lawmakers in Congress, sent letters to 14 of the bank’s largest depositors, raising concerns about the relationship between the failed bank and some of the largest venture capital firms that invested in it. The fall of Silicon Valley Bank marked one of the largest bank failures in U.S. history and sent shockwaves through the global banking...
  • Gordon Moore, One of Silicon Valley's Founding Fathers, and an icon of American ingenuity, Dies at 94

    03/25/2023 7:30:40 PM PDT · by nwrep · 28 replies
    IGN ^ | March 25, 2023 | Logan Plant
    Gordon Moore, the tech pioneer and co-founder of Intel, has died at age 94, Intel and the Gordon and Betty Moore Foundation announced Friday. Moore died peacefully in his home, surrounded by family. Moore was best-known for his famous observation known as Moore's Law. In 1965, Moore made the observation that the number of transistors on an integrated circuit would double every year. Moore's prediction proved to be correct, and the idea of faster, smaller, and cheaper chip technology is still the driving force behind Silicon Valley's mission to this day. “Gordon Moore defined the technology industry through his...
  • Why woke ‘Frisco Fed chief missed Silicon Valley Bank’s warning signs

    03/23/2023 11:16:29 AM PDT · by george76 · 9 replies
    New York Post ^ | March 17, 2023 | Paul Sperry
    Wokeness has replaced competence and merit across the banking sector, and San Francisco Fed Chief Mary Daly is the poster child of this pernicious trend. A protege of Treasury Secretary Janet Yellen and short-list candidate for Federal Reserve vice chair, Daly was supposed to be supervising Silicon Valley Bank but apparently was too busy playing politics and pushing woke agendas to regulate rogue banks like SVB, the second-biggest bank failure on record. ... Daly missed all the warning signs of runaway inflation, which led to the steep interest-rate hikes that made SVB’s investments worthless. ... she said inflation didn’t affect...
  • FDIC to break up SVB, seeks separate sale of private unit

    03/20/2023 8:09:51 PM PDT · by george76 · 9 replies
    Reuters ^ | 20 March 2023 | Manya Saini
    The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposits unit and its private bank after failing to find a buyer for the failed lender last week. It will seek bids for Silicon Valley Private Bank until March 22 and for the bridge bank until March 24. The private bank, which is housed within SVB's retail operations, caters to high net-worth individuals. Bank and non-bank financial firms will be allowed to bid on the asset portfolios, the regulator said. ... First Citizens said in a statement...
  • Silicon Valley Bank Employees Think Remote Work Contributed to Collapse

    03/20/2023 4:23:34 PM PDT · by ChicagoConservative27 · 56 replies
    Breitbart ^ | 03/20/2023 | Lucas Nolan
    In the aftermath of the collapse of Silicon Valley Bank (SVB), the 16th biggest bank in the country, many are left wondering what went wrong. Both current and former employees have stated that the bank’s support of remote work is a contributing factor. Axios reports that current and former employees of Silicon Valley bank have mentioned the bank’s support of remote work as a contributing factor to its recent collapse. SVB stood out in the banking sector for its commitment to remote work. “If our time working remotely has taught us anything, it’s that we can trust our employees to...
  • Time Is Running Out To Speak Freely About Free Speech In America

    03/20/2023 8:26:35 AM PDT · by george76 · 26 replies
    The Federalist ^ | MARCH 20, 2023 | Margot Cleveland
    Americans need to have an important discussion about free speech now — before the Censorship Complex makes it impossible to do so. The Censorship Complex — whereby Big Tech censorship is induced by the government, media, and media-rating businesses — threatens the future of free speech in this country. To understand how and why, Americans need to talk about speech — and the government’s motive to deceive the public. To frame this discussion, consider these hypotheticals: Two American soldiers training Ukraine soldiers in Poland cross into the war zone, ambushing and killing five Russian soldiers. Unbeknownst to the American soldiers,...
  • SVB Not Anyone's Fault?

    03/19/2023 8:01:02 PM PDT · by george76 · 27 replies
    Townhall ^ | Mar 16, 2023 | Cal Thomas
    One of the benefits of being a Washington insider, from the president of the United States to the lowliest bureaucrat, is never having to admit your policies are wrong. In the case of Silicon Valley Bank (SVB) - the nation's 10th largest - the financial policy chickens of this, and previous administrations, have predictably come home to roost. Record debt, massive new spending, and the failure of regulators to see what was coming contributed to the run on SVB. It didn't help that in 2018 President Donald Trump signed the biggest rollback of Dodd-Frank bank regulations since the global financial...
  • Did ESG Help Sink SVB?

    03/18/2023 6:55:04 PM PDT · by george76 · 9 replies
    WSJ Opinion ^ | March 16, 2023 | Kimberley A. Strassel
    One entrepreneur says the bank was offering ‘basically subprime business loans.’ ... If government funds it, they will come. That’s an overlooked story line in the collapse of Silicon Valley Bank. If Washington wants to point fingers, it should aim the biggest digit at itself. ... We serve those creating positive environmental change,” SVB’s website brags, noting that the bank worked with some 1,550 companies in the “climate technology and sustainability sector.” Most of these companies weren’t filling some vital market need. Rather .. SVB was beloved for its willingness to offer “banking services to startups that often weren’t profitable,...
  • EXCLUSIVE: Vast Majority Of Americans Oppose Corporate Diversity Quotas, Poll Shows

    03/18/2023 5:16:23 PM PDT · by george76 · 10 replies
    Daily Caller News Foundation ^ | March 16, 2023 | Laurel Duggan
    The vast majority of Americans believe U.S. companies should hire executives based solely on merit, character and quality, according to a CRC Research poll shared exclusively with the Daily Caller News Foundation. Among respondents, 87% supported a merit-based approach, compared to 8% who supported a quota system for race and gender and 5% who were unsure or refused to answer, according to the CRC Research poll conducted for the 85 Fund. The pattern held true across political affiliations, with most Democrats, Republicans and independents favoring a merit-based hiring approach for executives. At 93%, Republicans were only slightly more likely to...
  • Nearly 200 banks at risk for same fate as SVB: study

    03/18/2023 3:01:40 PM PDT · by RomanSoldier19 · 63 replies ^ | March 18, 2023 | By Matthew Sedacca
    Nearly 200 more banks may be vulnerable to the same type of risk that took down Silicon Valley Bank: The value of the assets they hold. There are 186 banks across the country that could fail if half of their depositors quickly withdraw their funds, a new study published on the Social Science Research Network found. Even insured depositors — those with $250,000 or less in the bank — could have problems getting their cash if these institutions face the sort of run that Silicon Valley saw a week ago. The concern is that these banks hold a significant amount...
  • SVB Went Woke, Then Broke, Then Got a Bailout

    03/17/2023 11:20:54 AM PDT · by george76 · 19 replies
    Front page ^ | March 17, 2023 | Daniel Greenfield
    Americans can’t afford food, but leftist and Chinese companies get bailed out. Silicon Valley Bank spent billions on green energy, millions on Black Lives Matter and other leftist causes, until it finally ran out of ‘other people’s money’. That’s when the Biden administration decided to bail out its depositors. At a dinner hosted by Peter Orszag, Obama’s former budget director, Wally Adeyemo, Obama’s Nigerian assistant treasury secretary and Biden’s deputy treasury secretary, chatted with Blair Effron, an influential Biden donor, serving on Biden’s Intelligence Advisory Board, who had been hired as an advisor by SVB to deal with its financial...
  • As Expected: SVB Financial Files For Chapter 11 Bankruptcy

    03/17/2023 7:45:14 AM PDT · by SeekAndFind · 14 replies
    Nation and State ^ | 03/17/2023 | Tyler Durden
    SVB Financial Group, the company whose former subsidiary Silicon Valley Bank was taken over by the Federal Deposit Insurance Corporation last week, filed a voluntary petition for a Chapter 11 bankruptcy protection in the Southern District of New York to preserve value for stakeholders.SVB Financial said it has approximately $2.2 billion of liquidity and cash and its interests in SVB Capital and SVB Securities. It also said it has "other valuable investment securities accounts and other assets for which it is also exploring strategic alternatives." The bankrupt entity listed assets and liabilities of up to $10 billion each.SVB Financial also...
  • Janet Yellen: Chinese Depositors to Silicon Valley Bank to Be Made Whole

    03/16/2023 6:43:20 PM PDT · by ChicagoConservative27 · 23 replies
    Breitbart ^ | 03/16/2023 | Sean Moran
    Treasury Secretary Janet Yellen told Sen. James Lankford (R-OK) during a Senate Finance Committee hearing on Thursday that Chinese depositors will be made whole while community banks will have to pay higher fees. Yellen spoke before the Finance Committee to discuss President Joe Biden’s budget proposal, but given the increasing concern over the instability in the banking sector, most questions revolved around the federal government’s response to the collapse of Silicon Valley Bank, Signature Bank, and others.
  • Dick Morris to Newsmax: SVB Bailout, a 'Crony Payoff'

    03/16/2023 3:11:02 AM PDT · by george76 · 6 replies
    Newsmax ^ | 13 March 2023 | Nick Koutsobinas
    the rush to rescue depositors of Silicon Valley Bank .., a bank directly associated with Silicon Valley, which he terms as the "Democratic stronghold of the world," is as big a "crony payoff as you possibly can have.".. the Silicon Valley Bank is enjoying a charmed life because it's in Silicon Valley," ... "It's the Democratic stronghold of the world. And 99% of their people are probably Democrats and depositors that raised hell they're all democratic donors, so this is as crony a payoff as you possibly can have." ... Morris's statement comes after Treasury Secretary Janet Yellen proclaimed .....