Economics/Class Relations

How Silicon Valley Bank imploded

 View in browser
March 12, 2023
Hi, I’m Matt Turner, the editor in chief of business at Insider. With the failure of Silicon Valley Bank, we’re witnessing the biggest bank collapse since the 2008 financial crisis. We’re diving into that and much more today.


On the agenda:

Before we dive in: Insider’s Warehouse Nation series was recognized with a Best in Business Award from the Society for Advancing Business Editing and Writing (SABEW). The judges said: “‘Warehouse Nation’ exhibited explanatory journalism at its highest levels.” Check it out.


But up first: Alison Brower, Insider’s LA bureau chief, explains whether the Oscars still matter in Hollywood.

If this was forwarded to you, sign up here.

The Oscars still matter

It’s not just Chris Rock who’s hurting. The Slap still stings across Hollywood, and Academy Awards organizers are working hard to make sure tonight’s ceremony sparkles, Insider’s Alison Brower writes.

After last year’s TV audience rebounded 58% from a 2021 nadir, Academy brass and ABC are hoping for another surge, thanks to nominations for popular films like “Top Gun: Maverick” and “Black Panther: Wakanda Forever” — though it’s the mind-bending indie “Everything Everywhere All at Once” that’s heavily favored for Best Picture.

But as the film industry reels from the decline of theatrical moviegoing, do these awards really matter? Hells, yeah. An Oscar is still a pinnacle achievement for filmmakers: There’s no better way to boost your profile (not to mention your quote).

And for the tech interlopers like Netflix and Amazon that have upended the industry over the past decade — including with their extravagant awards-campaign spending — a statuette says they’re part of the club.


Silicon Valley Bank’s implosion

Getty Images
Silicon Valley Bank had been a pillar of the startup ecosystem for four decades. It worked hard to foster cozy relationships with founders and investors, sponsoring lavish events, inviting VCs to its ski chalet, and taking chances on unproven companies.

But a disastrous decision to appease Wall Street and a Twitter-enabled bank run led to the bank being suddenly shut down by regulators. Now, hundreds of startups are facing a crippling cash crunch and an “extinction-level event” if no one buys the bank by tomorrow.

Read the inside story on what happened.

Also read:

The DOJ’s silence on Epstein
Robyn Phelps/ Insider
On August 10, 2019, Jeffrey Epstein was found unresponsive in his jail cell where he was awaiting trial on sex-trafficking charges. The Justice Department launched an investigation — but more than three years later, the office still hasn’t released its report.

In the information vacuum, conspiracy theories have proliferated about whether Epstein was killed to cover up for his powerful friends, like Bill Clinton and Donald Trump. Epstein’s brother, Mark, told Insider that he remains puzzled by the holdup — but he’s convinced his brother didn’t kill himself. He, as well as Epstein’s own accusers, want answers.

What we know about the Epstein investigation.

Read more:

Tiny homes, big problems
In the bland world of construction technology, Boxabl is a sensation. Valued at $3 billion, the father-son startup has soared to fame for its 375-square-foot micro home — known as the Casita — that retails for just $60,000.

The Las Vegas company has attracted a 157,000-person waiting list, over $4 million of down payments, and endorsements from the likes of Elon Musk. But a lawsuit filed by a former executive, the company’s financial disclosures, and an investigation by Insider raise questions about whether Boxabl is a groundbreaking revolution — or a mirage in the Nevada desert.

Inside Boxabl’s obstacles.

Read more:

How to invest in AI
Thinkhubstudio/Getty Images
Ever since ChatGPT made its public debut in November, artificial intelligence has grabbed the spotlight and refused to let go. Hype surrounding AI has soared as companies begin incorporating the tech into their businesses and everyday people find their own uses.

That’s sent some stocks soaring, offering investors the opportunity to capitalize on the hype. Insider has been collecting research notes, interviewing analysts, and investigating which stocks will enjoy the biggest returns from the explosive growth of AI.

Wall Street analysts share their AI investing strategies.

Read more:


“You have every right to lay me off. That’s totally fair and fine. But usually people are told when that happens. Maybe with a letter or something.”

— Former Twitter director Haraldur Thorleifsson, who got into a public spat with Elon Musk over his employment status at the company.

‘Fake work,’ Florida, & more


Keep up with Insider

  • Get Insider’s app and notifications to be the first to find out about the stories you want to know — from tech to business. Download it here.
  • Become an Insider subscriber to get actionable, high-value news and insights to improve your career, company, and community. Subscribe here.
  • Want more of Insider in your inbox? Sign up for our newsletters here.
This edition was curated by Matt Turner, and edited by Dave Smith and Lisa Ryan. Get in touch:

Leave a Reply