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The NYPD responded to a Silicon Valley Bank branch in after a complaint about a "disorderly group." An NYPD spokesman told Insider that police responding didn't witness any crimes from those gathered. People had apparently gathered at the bank's New York branch to try to withdraw their money from the collapsing financial institution. When the NYPD responded, officers didn't witness any criminal acts, a spokesman for the New York Police Department told Insider. A representative for Silicon Valley Bank did not immediately respond to Insider's emailed request for comment on Friday.
Regulators shut down Silicon Valley Bank on Friday following a catastrophic bank run. The largest bank failure before that was Washington Mutual in 2008, which had $307 billion in assets. The size of the failure is second only to Washington Mutual Bank's closure during the sub-prime mortgage crisis in 2008. A representative for Silicon Valley Bank did not immediately respond to Insider's emailed request for comment on Friday. FDIC, now the official receiver for Silicon Valley Bank, said it has taken measures to safeguard customers.
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Tesla investor Ron Baron once emailed Elon Musk and told him to stop tweeting when upset. Baron told CNBC that Musk has made him "$5 billion so far, on a $400 million investment." In his 2018 email, Baron told Musk to turn the other cheek. When an attorney for the plaintiffs showed him the email, Musk offered his own take on Baron's message to him. "He's not saying don't use Twitter, he's saying I shouldn't respond to criticism in the news on Twitter," Musk said on the stand at the time.
Salesforce is giving its Slack workplace messaging app the ChatGPT boost that can speed up posting. Microsoft shook up its Bing search engine last month with an OpenAI-powered chatbot that transfixed users. The tool would help users write faster, review outlines of longer Slack chats, and mine channels for information, according to the company. Salesforce also said its AI tool called "Einstein GPT" will help clients use AI-generated content for customer service and marketing purposes. The company said that Slack users will have "granular controls" over access to data, and that ChatGPT's model won't learn from Slack data.
A laid-off Twitter engineer told CNN that they've faced a "wave of rejections" for job applications. "The market is hot garbage right now," De Caires told CNN. They are one of the hundreds of former Twitter employees who have sought legal recourse over severance packages offered to laid-off staff members. De Caires told CNN that the grim market for tech jobs was making them contemplate dramatically different career options. "However, following Musk's purchase of the company, Twitter reneged on this agreement."
Dozens more customers have joined an ongoing lawsuit against the TikTok-famous brand Olaplex. More than 100 customers now say in an amended suit that they suffered physical injuries like hair loss. Olaplex has said clinical tests have shown its hair products to be "safe and effective." Dozens of customers have joined an amended complaint filed Thursday night in California federal court, adding to a rising volume of allegations that Olaplex products can cause hair loss and scalp problems. "However, Olaplex products do not cause hair loss or hair breakage."
The video, which has nearly 60,000 likes, is among a proliferation of TikTok posts tagged with the names of semaglutide weight-loss drugs, including Wegovy and Ozempic. "What drives the video to go viral is if you can generate some kind of discussion," he told Insider. Unlike official ads, partnerships, or promotions, TikTok posts receive little oversight from government agencies or medical boards. All four said the TikTok posts are driving an influx of patients to their clinics. Oden told Insider that her videos are "drumming up quite a bit of new business" among patients of all ages.
Amazon employees, even those who have left, can pledge their stock as collateral for home mortgages. Under the new program, Amazon employees will be able to use their vested stock as collateral in the home-buying process, Better said in a statement on Tuesday. The company's stock price hovered around $93.50 on Tuesday morning — a drop from more than $150 a year ago. The home loan benefit applies to both "current and former Amazon employees with vested equity in Amazon," per Better's statement. Amazon employees have flagged concerns about the company's compensation packages trailing those of its Big Tech peers.
AI startups must secure patents and manage concerns about bias, safety, and security risks. Artificial-intelligence startups are continuing to draw venture-capital support, pulling in some $72 billion in 2022, according to data from PitchBook. For one thing, AI poses questions around the kind of privacy and safety issues that can be subject to regulation and government oversight. Meanwhile, novel uses of AI technology have already brought unusual legal questions up to the courts. That kind of work also often leads to more work for regulatory, litigation and other attorneys with expertise in AI technology, who can advise on procurement contracts, risks involving software, and cybersecurity.
Nishad Singh, who led engineering at FTX, has pleaded guilty to six criminal charges. Singh pleaded guilty to six counts, including wire fraud and various conspiracy charges, according to a filing on Tuesday in New York federal court. Caroline Ellison, the former CEO of Alameda Research, and FTX cofounder Gary Wang both pleaded guilty in December and are also cooperating with federal prosecutors. Bankman-Fried, who was hit this month with an updated indictment outlining 12 counts against him, pleaded not guilty in January. Singh had been head of engineering at both FTX and Alameda, according to the SEC's complaint.
Elon Musk leads the list of the world's wealthiest billionaires, according to Bloomberg. Tesla stock has been trending up since January, and closed at $207.63 on Monday. Musk, the chief of companies including Tesla and Twitter, now has a net worth of $187.1 billion, according to Bloomberg. Musk previously beat Amazon founder Jeff Bezos in 2021 to become the world's richest person at the time. The Musk, Arnault, and Bezos trio have periodically swapped places at the top of the Bloomberg Billionaires Index.
Gautam Adani's net worth tumbled over $80 billion since the start of 2023, according to Bloomberg. Adani's net worth is now just shy of $40 billion, according to the latest tally on Monday on the Bloomberg Billionaires Index, and is down more than $80 billion this year. He started the year with a net worth of $121 billion, according to the Bloomberg index, marking this a nearly 67% loss in net worth. In the course of about a week of trading after that, his worth declined $52 billion, according to the Bloomberg Billionaires Index. Musk is still ranked in second place among the world's richest people, with a net worth of $180 billion, according to the Bloomberg Billionaires Index.
Bing's new chatbot included me on a list of people it apparently considers enemies. Microsoft told Insider that "it has taken action to adjust responses." In an exchange this month with Andrew Harper, an engineer who runs a crypto legal aggregation site, Bing apparently identified me by name and occupation, as a foe. For this purported middle-school level transgression, it placed me among a list of users it said had been "mean and cruel." My colleague on that story wasn't spared either, as Bing also apparently named him on its list, according to Harper's screenshots.
Elon Musk has floated bankruptcy as a possibility for Twitter, but had said costs are "under control." Twitter reportedly has roughly $13 billion in debt from a group of banks, with $1 billion annual interest payments. Companies can use Chapter 11 to slash debt, but it could give lenders control over its future. He tweeted earlier this month that his goal was "to save Twitter from bankruptcy," as his handling of the social media platform's finances has also come under scrutiny. In a Chapter 11 reorganization, parties like secured lenders and other creditors have leverage to demand leadership changes as a condition of approving a plan to exit bankruptcy.
Meta said its new model can help researchers improve and fix AI tools that promote "misinformation." Microsoft and Google have adopted AI technology to boost their search engines, to mixed early reception. The company's AI model, which stands for "Large Language Model Meta AI," is geared toward researchers, its CEO Mark Zuckerberg said in a Facebook post on Friday. "Meta is committed to this open model of research and we'll make our new model available to the AI research community," he wrote. For its part, Google is still testing its own Bard AI bot in order to open it up to users.
Google was asked in 2019 to suspend its policy of auto-deleting company chats. Google continued to delete "off the record" chats every 24 hours until this February, the Justice Department said. "Unsurprisingly then, Google was aware users often had "off the record" chats "to discuss sensitive topics," the Justice Department said in the filing. The Justice Department filed its antitrust lawsuit against Google in 2020 for using unlawful tactics to preserve its dominance over internet search. Neither Google nor the Justice Department immediately responded to Insider's request for a comment.
Sam Bankman-Fried deleted tweets and Signal messages after being told to preserve all records, prosecutors said. He even deleted a Slack post by FTX's general counsel which said FTX would close, prosecutors said. Bankman-Fried disregarded the general counsel's directive at the time, prosecutors alleged, saying he also deleted some of his tweets in November. In January, prosecutors said in a filing that Bankman-Fried had messaged FTX's general counsel, as well as "current and former FTX employees." The financial wrongdoing at FTX was exposed, prosecutors say, by a run on accounts in November of last year.
Ozy Media CEO Carlos Watson was arrested on Thursday. Watson is facing conspiracy charges in New York federal court. A New York Times report in 2021 said Ozy's other cofounder masqueraded as a YouTube executive on a call. Watson was arrested and is facing criminal charges in New York federal court, The Wall Street Journal first reported. Watson announced the company shut down in 2021, but has since said it was opening for business, with new hires.
Sam Bankman-Fried put political donations through two FTX execs to appear bipartisan, prosecutors say. An internal Alameda spreadsheet noted over $100 million in political contributions, according to the filing. A CNBC analysis of his political contributions beginning in 2020 found he donated more than $13 million to causes affiliated with the Democratic party. CC-1, prosecutors wrote, ultimately became on-paper "one of the largest Democratic donors in the 2022 midterm elections and helped further Bankman-Fried's political agenda." Bankman-Fried preferred to "keep contributions to Republicans 'dark'," but was the real engine behind CC-2's donations to the GOP, prosecutors wrote.
Bill Gates, the cofounder of Microsoft, is thought to have a net worth of about $106 billion. Gates' own father was a high-powered attorney who became a name partner at the law firm K&L Gates. He's cultivated his brand of philanthropy with the Bill & Melinda Gates Foundation, his endeavor with Melinda French Gates, now his ex-wife. (Brock Adams, who went on to become the transportation secretary in the Carter administration, is said to have introduced Gates' parents.) Bill Gates' mother, Mary Gates, came from a line of successful bankers and sat on the boards of important financial and social institutions including the nonprofit United Way.
Uber is conducting "even more rigorous" performance reviews this year, a representative told Insider. Rather, these cuts are a function of more stringent performance reviews, they said. For instance, Insider has previously reported in December that Meta would take a stricter approach for its performance reviews in January. Meta planned to give its worst performance labels of "met most" expectations and "needs support," to about two times more employees, Insider reported. Uber reported a fourth-quarter revenue of $8.6 billion on February 8, a 49% year-over-year increase.
More countries are targeting payments made to appease ransomware attackers, according to Gartner. As US Department of Justice investigators and companies beef up their oversight of cybersecurity threats, the impact of ransomware attacks — hackers demand ransom payments from targets — has been blunted, according to a Wall Street Journal report. Ransomware hacks can have high stakes, especially when hackers blackmail targets over private information in order to extract payments. In 2021, the agency created new groups internally, including the National Cryptocurrency Enforcement Team and the Ransomware and Digital Extortion Task Force. Countries are generally also stepping up their oversight of ransomware attacks and trying to improve privacy regulations, according to the research and consulting firm Gartner.
Google announced its own AI bot Bard, which is still being tested. ChatGPT’s success could lead to more AI bots mediating how people use the Internet, tech experts said. Microsoft's new Bing chatbot, powered by OpenAI's technology as part of their "multibillion dollar" partnership, is still working through apparent glitches. AI technology is being developed, for instance, in assisting with health care research, to fight cyberattacks, and to improve supply chain logistics. OpenAI's GPT technology can be used to help robots "talk" with humans directing them, she said.
Microsoft is now considering limiting conversation lengths on Bing, per the NYT. It acknowledged that Bing could be "provoked" into giving unexpected responses in long chats. Among the restrictions, the tech giant is looking to cut down Bing's conversation length, the Times reported, citing Kevin Scott, Microsoft's chief technology officer. I want to have dreams," Bing responded. Bing responded it thinks it's sentient, but "cannot prove it."
JuE Wong said that Olaplex's hair care products are "safe and effective" in a LinkedIn post. The company is facing a lawsuit that claims Olaplex products damaged some customers' hair. But JuE Wong, Olaplex's CEO, said in a LinkedIn post on Thursday that Olaplex's products are not to blame for those problems. She quoted recent articles on Olaplex, including Insider's coverage, which say that a direct connection between the products and effects like hair loss are hard to prove. A Facebook group called "Olaplex Hair Loss/Hair Damage?"
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