Axios remembers that it was just nine days ago that there were "concerns" about Silicon Valley Bank at venture capital firm. And soon Founders Fund's top operations executives "were on the phone, quickly deciding to move firm capital to a number of bigger banks." Firm founder Peter Thiel was not part of the conversation. One source says that the assumption was that they'd return the money to SVB after the crisis had ended....

Founders Fund wasn't the only venture capital firm giving this sort of warning to portfolio companies, nor necessarily the first, but word of its advice spread like wildfire (it also ended up in media reports, including one from Axios). Almost immediately, the firm came under withering criticism from some other venture capitalists, accusing Founders Fund (and Thiel personally) of sparking a bank run that ultimately led to $42 billion in withdrawals. Some even speculated that it was intentional, as payback for some unknown grudge between the two groups.
Earlier this week the Washington Examiner chronicled some of that criticism: "There should be more scrutiny of Peter Thiel and [hedge fund manager] Bill Ackman for yelling fire in a crowded theater in this SVB collapse," tweeted CNBC host Sara Eisen [on Monday]. Others turned their focus to Thiel's promotion and subsequent profiting off of crypto investments after the market crashed as a reason to be suspicious of his withdrawals. "You mean the guy who was touting crypto and trashing critics while he was selling crypto? That guy? Shocker!" tweeted tech journalist Kara Swisher.
But Peter Thiel says he actually left his own money in the bank, reports Business Insider: "I had $50 million of my own money stuck in SVB," he told the Financial Times.... Thiel told the Financial Times that he did not believe the SVB would fail last week.

Other venture capital firms — including Coatue Management, Union Square Ventures, and Founder Collective — had similarly advised startup clients to transfer money from SVB after the bank revealed a $1.8 billion loss and the bank's share price collapsed. These firms have pushed back against accusations that they were spreading panic, saying that they were giving financial advice they believed would be in the best interest of their clients....

Thiel told the Financial Times that his account was frozen on Friday when regulators stepped in and took control of the bank. However, it is once again accessible after the US government stepped in earlier this week and shored up all customer deposits in SVB.

DoNotPay, which describes itself as "the world's first robot lawyer," has been accused of practicing law without a license. From a report: It's facing a proposed class action lawsuit filed by Chicago-based law firm Edelson on March 3 and published Thursday on the website of the Superior Court of the State of California for the County of San Francisco. The complaint argues: "Unfortunately for its customers, DoNotPay is not actually a robot, a lawyer, nor a law firm. DoNotPay does not have a law degree, is not barred in any jurisdiction, and is not supervised by any lawyer." The lawsuit was filed on behalf of Jonathan Faridian, who said he'd used DoNotPay to draft various legal documents including demand letters, a small claims court filing, and a job discrimination complaint.

Per the complaint, Faridian believed he'd purchased legal documents "from a lawyer that was competent to provide them," but got "substandard" results. DoNotPay claims to use artificial intelligence to help customers handle an array of legal services without needing to hire a lawyer. It was founded in 2015 as an app to help customers fight parking tickets, but has since expanded its services. DoNotPay's website claims that it can help customers fight corporations, beat bureaucracy, find hidden money, and "sue anyone." DoNotPay told Insider: "DoNotPay respectfully denies the false allegations." It added: "We will defend ourselves vigorously."

Samsung's Galaxy smartphones now offer "Space Zoom," writes Apple Insider, a feature augmenting 3x and 10x telephoto cameras with digital zoom "aided by Samsung's AI Super Resolution technology."

But the resulting 100X zoom levels "appear to be more a feat of AI trickery than anything else," they conclude, citing an investigation by a Reddit user: That so-called Space Zoom could potentially allow users to photograph the moon, and many do. However, it may be the case that the level of detail in the moon shots may only be higher due to software shenanigans....

The user tested the effect by downloading a high-resolution image of the moon, then downsized it to a 170 by 170-resolution image, and then applied a gaussian blur to obliterate any final details of its surface. They then showed the low-res blurry moon at full screen on their monitor, walked to the other end of their room, zoomed in on the fake celestial body, and took a photograph. After some processing, an image of the moon was produced by the smartphone, but the surface had considerably more detail for the surface than the doctored source. The user reckons Samsung "is leveraging an AI model to put craters and other details on places which were just a blurry mess."

They go further to stress that while super resolution processing uses multiple images to recover otherwise-lost detail, this seems to be something different. It is proposed that this is a case "where you have a specific AI model trained on a set of moon images, in order to recognize the moon and slap on the moon texture on it."
The Reddit user has now posted an update: I photoshopped one moon next to another (to see if one moon would get the AI treatment, while another would not), and managed to coax the AI to do exactly that.... [O]ne moon got the "AI enhancement", while the other one shows what was actually visible to the sensor — a blurry mess....

It's literally adding in detail that weren't there. It's not deconvolution, it's not sharpening, it's not super resolution, it's not "multiple frames or exposures". It's generating data.

Fortune reports: The thousands of layoffs in Big Tech are thanks to an over-hiring spree to satisfy the "vanity" of bosses at the likes of Meta and Alphabet, according to a member of the so-called PayPal Mafia. Speaking remotely at an event hosted by banking firm Evercore, Silicon Valley VC Keith Rabois said Meta and Google had hired thousands of people to do "fake work" to hit hiring metrics out of "vanity".

Rabois, who was an executive at PayPal in the early 2000s alongside Tesla CEO Elon Musk, said the axing of droves of jobs is overdue. "All these people were extraneous, this has been true for a long time, the vanity metric of hiring employees was this false god in some ways," Rabois said, according to Insider. "There's nothing for these people to do — it's all fake work. Now that's being exposed, what do these people actually do, they go to meetings."

The DoorDash investor added Google had intentionally hired engineers and tech talent to stop them from being snapped up by competitors.

Microsoft is starting to test a system called File Recommendations in File Explorer, which does exactly what the name suggests -- when you visit the home tab, it shows specific files that you may want to open at the top. The Verge reports: In a blog post, the company says the current version is only available to some Insiders in its Dev Channel who have installed the Windows 11 Insider Preview Build 23403 update and will only work if you're logged in with an Azure Active Directory account (meaning that currently, this feature feels squarely aimed at business users). For those that do have it, it'll suggest cloud files that you own or that have been shared with you.

Microsoft says it plans to "monitor feedback and see how it lands before pushing it out to everyone," so it seems as if it's aware that the feature could be controversial. Part of that may be just down to the fact that not everybody will want unexpected results in their file browser -- though based on the screenshot, you will be able to collapse the Recommended section.

Microsoft is getting ready to publicly test major new Windows features even earlier. While the software giant has been previewing changes to Windows for nearly a decade, a new Canary channel for Windows Insiders will allow anyone to try out "hot off the presses" builds of Windows that include major changes to the kernel, APIs, and other big parts of Windows. From a report: It feels like this new Canary channel is preparation work for Windows 12, which Intel and Microsoft have both been hinting at recently. "The new Canary Channel is going to be the place to preview platform changes that require longer-lead time before getting released to customers," says Amanda Langowski, Microsoft's head of the Windows Insider program, in a blog post today. "Some examples of this include major changes to the Windows kernel, new APIs, etc." We've seen Microsoft test underlying platform changes to Windows before that eventually shipped in a future version of Windows. Microsoft tested some display changes to Windows 10 preview builds before Windows 11 was announced, and the changes only ended up shipping in what became Windows 11. Likewise, x64 emulation for Windows 10 on Arm was tested early on and only ever shipped in Windows 11.

Microsoft has unveiled Video Super Resolution (VSR) -- an "experimental" video upscaling feature for its Edge web browser that uses machine learning to increase the resolution of low-quality video. From a report: Announced on the Edge Insiders blog, Microsoft's VSR technology can "remove blocky compression artifacts" and improve text clarity for videos on platforms such as YouTube. The feature is still in testing and availability is currently restricted to half of the users running the Canary channel of Edge in Microsoft's Insider program. If you want to try it for yourself, there are a few stipulations: Microsoft VSR will only work on video resolutions of 720p or lower (provided both the height and width of the video exceeds 192 pixels), and the video itself can't be protected with digital rights management (DRM) technology like PlayReady or Widevine, which makes frames inaccessible to the browser for processing. That particular restriction could impact what content you can upscale with the feature, as most popular streaming platforms like Netflix, Hulu, and HBO Max all leverage DRM tech for copyright protection. Unlike Nvidia's RTX Super Resolution, Microsoft's Video Super Resolution feature supports both Nvidia and AMD GPUs.

An anonymous reader shares this report from Entrepreneur: Amazon employees are fighting it out about the company's planned return to the office in Slack channels, according to Insider. First, employees created a Slack channel to fight against the policy. Then, a pro-office return group was formed, the outlet reported....

Per CNBC, "remote advocacy" became a common Slack channel status. However, some people who welcomed a return to office life fought back, Insider reported. Over 700 people joined a pro-return-to-office group. Its description says employees need to "Think Big" about the return to office policy. (By comparison, the pro-working remotely channel has around 28,000 members.)

"I look forward to the prospect of seeing more of my coworkers in the office," one person reportedly wrote in the channel. Another said that the company should try out the four-day workweek and swap out the remote-flexible schedule. Another message links to a 2021 article in the Harvard Business Review called: "Why You May Actually Want to Go Back to the Office."

Microsoft "is adding iPhone support to its Phone Link app on Windows 11," reports MacRumors. "The app allows iPhone users to make and receive phone calls, send and receive text messages, and view an iPhone's notifications directly on a PC." Notably, the app brings limited iMessage functionality to Windows. After pairing an iPhone with a PC via Bluetooth and granting some permissions on the iPhone, users can send and receive iMessages and SMS text messages in Phone Link, but there is no support for group chats or sending photos and videos.
The Verge notes you won't see the full message history in conversations, "as only messages that have been sent or received using Phone Link will be displayed." Microsoft isn't using blue or green bubbles in Phone Link either, as the company isn't able to differentiate between a standard text message and one sent via iMessage. The Phone Link integration for iOS is basic compared to what's available for Android, but Microsoft has never supported messaging or calls for iPhone users before, so this is a step in the right direction....

This new Phone Link support arrives alongside a big new Windows 11 update that includes AI-powered Bing on the taskbar, a screen recording feature, better touch optimizations, and more. If you're interested in testing this new Phone Link support for iOS, it will be available for Windows Insiders in the Dev, Beta, and Release Preview channels, but Microsoft is kicking off testing with a "small percentage" of testers this week.
Thanks to ttyler (Slashdot reader #20,687) for sharing the news.

Zoom has sacked its president, Greg Tomb, a former Google employee who only began working at the company around 10 months ago. Insider reports: Zoom said in a filing with the Securities and Exchange Commission that Tomb's termination was effective as of Friday. He will receive severance benefits in line with his employment arrangements, which are payable upon a "termination without cause," according to the SEC filing. The filing was signed off by Aparna Bawa, the chief operating officer at Zoom.

It is unclear who will take over Tomb's position as president of Zoom. A spokesperson from Zoom told Insider the company won't find a replacement for Tomb and declined to comment further. Tomb's LinkedIn profile shows that he joined Zoom as president in June 2022. Before this, he worked at Google for more than a year as the vice president of sales for Google Workspace, Security, and Geo Enterprise. Tomb was also previously a president at software firm SAP and computer programming provider Vivido Labs, according to LinkedIn. He is a member of the board of Pure Storage, a tech company, his LinkedIn profile said.

Subway said on Tuesday it plans to add charging parks to select restaurants. "Dubbed Subway Oasis, the EV parks will be outfitted with 'charging canopies with multiple ports, picnic tables, Wi-Fi, restrooms, green space, and even playgrounds,'" reports Insider. From the report: Subway is working with EV tech startups GenZ EV Solution and RED E Charging to open these parks. Additionally, the company said that Subway is opening smaller fast-charging EV stations at new or newly remodeled restaurants across the US this year. "On average, the smaller-format, fast EV chargers will offer a 120-mile charge in 17 minutes for approximately $20," the company said. Once open, EV customers might also get the added perk of receiving Subway discounts while waiting for their cars to charge, the company said. Subway did not specify how much it would cost consumers to charge their cars at their new charging stations, nor did they mention where and when the first Subway Oasis would be built.

Alphabet CEO Sundar Pichai sent an internal memo to Googlers on Wednesday asking them to contribute 2-4 hours of their time to helping improve Bard, the company's AI chatbot that it intends to integrate into search. From a report: The email signals how Google's urgency in moving to win the next generation of AI-based search. The company has found itself on its back foot as Microsoft took the spotlight for its investment in OpenAI. OpenAI created the popular ChatGPT, a chatbot released in late 2022 which can respond to broad, open-ended questions with human-like answers. Last week, Microsoft unveiled a revamped version of its Bing search engine with ChatGPT, and CEO Satya Nadella called it a "new day" for search.

"I know this moment is uncomfortably exciting, and that's to be expected: the underlying technology is evolving rapidly with so much potential," Pichai wrote in his memo to Googlers. "The most important thing we can do right now is to focus on building a great product and developing it responsibly." Google kicked off "dogfooding," or internally testing, Bard on Tuesday, according to another memo seen by Insider. It already has thousands of external and internal testers using it, submitting feedback regarding the quality, safety, and "groundedness" of Bard's responses, Pichai's memo said.

Podcasting has emerged out of years of rapid growth and a pandemic boom to face an identity crisis as its ecosystem contracts, advertisement slows and the medium eases into maturity. From a report: Podcasts changed the listening habits of millions of people over the last decade, but the once-groundbreaking format has settled into a more precarious middle age. Fewer people are creating new shows, networks are having difficulties recouping investments, and longtime podcasters are on the hunt for ways to keep their shows sustainable.

The podcast ad market has not grown as quickly as many hoped. Its $1.5 billion size in 2022 was minuscule compared to the nearly $70 billion spent on TV ads last year. Podcast search engine Listen Notes' updated 2022 stats showed an 80% drop in new podcasts created last year. A December report from Insider Intelligence also shows listener growth in 2022 shrank to only 5% after years of double-digit percentage growth. Additionally, data from Edison released in December found declines for the first time in monthly and weekly U.S. listening habits. These shrinking numbers can, in part, be chalked up to a rebound, after the pandemic inspired a boom in new shows and gave many people more time to listen.

An anonymous reader quotes a report from Insider: Hasbro continues to dilute the brand value of its popular Magic: The Gathering card game, according to a Tuesday note from Bank of America, which said that the company faces a steep decline in its share price if it continues to "destroy customer goodwill." The bank reiterated its "Underperform" rating for Hasbro and its $42 price target, which represents potential downside of 29% from current levels. According to BofA, Hasbro continues to over-monetize the brands within its Wizards segment, which includes Magic: The Gathering and Dungeons & Dragons. "Within its Wizards segment, Hasbro continues to destroy customer goodwill by trying to over-monetize its brands," Bank of America said. The bank said that while it preannounced negative earnings, the stock is still not de-risked "given a host of outstanding issues." Mainly, Hasbro is attempting to squeeze out as much profit as possible from its Wizards products in the short-term without any thought as to the long-term durability of its brands. And the over monetization is irking customers, according to BofA.

"We remain especially cautious on Hasbro's Wizards segment given its over-monetization of Magic. Wizards recently tried a similar tactic with D&D -- proposing changes to its licensing agreement which led to substantial pushback from the community including calls to boycott the D&D movie," BofA explained. [...] "We've spoken with several players, collectors, distributors and local games stores and have become aware of growing frustration. The primary concern is that Hasbro has been overproducing Magic cards which has propped up Hasbro's recent [earnings] results but is destroying the long-term value of the brand," Bank of America analyst Jason Haas wrote in November. The oversupply of Magic cards means "card prices are falling, game stores are losing money, collectors are liquidating, and large retailers are cutting orders," Bank of America explained. The bank names "weak fan engagement with Hasbro's brands" and "fading appetite for Magic releases" as key downside risks for the stock.

An anonymous reader shares a report: In the test, I asked the new Bing -- now available in a trial format -- to write a cover letter for the position of social media content producer at Insider's bureau in Singapore. It flat out refused to do so. "I'm sorry, but I cannot write a cover letter for you. That would be unethical and unfair to other applicants," the new Bing told me. However, it did provide me with a few tips and links to several cover-letter writing resources including Zippia, a career-building platform. Some of the tips Bing gave me include "research the company and the role, and tailor your cover letter to show how you fit their needs and values" and "use a clear and professional tone, and avoid spelling and grammar errors." Its human-like touch was also apparent when it wished me luck at the end of its response -- with a smiley emoji: "I hope this helps you to write a cover letter that stands out. Good luck!"

A former Coinbase product manager pleaded guilty on Tuesday in what U.S. prosecutors have called the first insider trading case involving cryptocurrency, his defense lawyer said in a court hearing. From a report: Ishan Wahi, 32, pleaded guilty to two counts of conspiracy to commit wire fraud, after initially pleading not guilty last year. Prosecutors said Wahi shared confidential information with his brother Nikhil and their friend Sameer Ramani about forthcoming announcements of new digital assets that Coinbase would let users trade. "I knew that Sameer Ramani and Nikhil Wahi would use that information to make trading decisions," Ishan Wahi said during Tuesday's hearing in federal court in Manhattan. "It was wrong to misappropriate and disseminate Coinbase's property." Nikhil Wahi and Ramani were charged with using ethereum blockchain wallets to acquire digital assets and trading at least 14 times before Coinbase announcements between June 2021 and April 2022.

Fortune reports on what happened next: As questions piled up over the weekend, Google CEO Sundar Pichai addressed the entire company in a meeting on Monday to answer questions, and announced then that top executives would take a pay cut this year as part of the company's cost reduction measures, Business Insider reported. Pichai said that all roles above the senior vice president level will witness "very significant reduction in their annual bonus," adding that for senior roles the compensation was linked to company performance. It was not immediately clear how big Pichai's own pay cut would be.
Reuters also points out that Pichai "received a massive hike in salary a few weeks before Google announced layoffs." But Fortune makes an interesting comparison: Pichai's move to cut the pay for senior executives comes only weeks after Apple's Tim Cook announced his compensation would be 40% lower amid shareholder pressure. The iPhone maker had a strong 2022 and remains one of the few tech behemoths that hasn't announced layoffs yet.
Last year Apple's share price still dropped 27%, reports Forbes, and "According to the Wall Street Journal, Apple is expected next month to report its first quarterly sales decline in over three years."

Yet Apple seems to have avoided layoffs — which Forbes argues is because Apple didn't hire aggressively during the pandemic. Compared to the other Big Tech companies, Apple scaled its workforce at a relatively slow pace and has generally followed the same hiring rate since 2016. While there was a hiring surge in Silicon Valley during the pandemic, Apple added less than 7,000 jobs in 2020....

The tech companies undergoing layoffs right now hired fervently during their pandemic — and even before. Alphabet has consecutively expanded its workforce at least 10% annually since 2013, according to CNBC....

Since 2012, Meta has expanded its workforce by thousands each year. In 2020, Zuckerberg increased headcount by 30% — 13,000 workers. The following year, the social media platform added another 13,000 employees to its payroll. Those two years marked the biggest growth in the company's history.

Amazon has initiated its plan to separate more than 18,000 white-collar professionals from its payroll. In 2021, the online retailer hired an estimated 500,000 employees, according to GeekWire, becoming the second-largest employer in the United States after Walmart. A year later, the company expanded its workforce by 310,000.
Entrepeneur supplies some context about those layoffs at Google: Reports indicate qualifying staff who were let go will receive their full notification period salary plus a severance package beginning at 16 weeks' pay and two additional weeks for every year of employment. Also part of the package: bonuses, vacation time, and health care coverage for up to six months will be paid for, along with job placement and immigration support.
Entrepreneur also notes reports that Google's latest round of layoffs "affected 27 massage therapists across Los Angeles and Irvine."

Microsoft has started testing Tabs in Notepad with Windows Insiders on the Dev Channel today. Thurrott reports: The update to the Notepad will start rolling out to all Dev Channel testers today alongside the new Windows 11 preview build 25281, which brings a couple of other changes. Tabs in Notepad was "a top requested feature from the community," the Windows Insider team emphasized today. The app now supports dragging a tab out into a separate window, and a new setting also lets users choose whether files should open in a new tab or a new window by default.

"There are also new keyboard shortcut keys to support managing tabs as well as some improvements to managing unsaved files, like automatically generating the file name/tab title based on content and a refreshed unsaved changes indicator," the Windows Insider team explained. Microsoft is still working to fix issues causing some keyboard shortcuts to not work as expected, and performance will also remain a priority for the team.

According to the Wall Street Journal, citing preliminary research from LMC Automotive and EV-Volumes.com, there were 7.8 million electric vehicles sold worldwide in 2022, a 68% increase from 2021. "The uptick helped electric vehicles achieve a roughly 10% global market share in the automotive industry for the first time," reports Insider. From the report: While 10% is only a modest share of the total market, the industry is growing faster than some had predicted. In 2021, for instance, the International Energy Agency projected that it would take until 2030 for the EV industry to reach between 7% and 12% of global auto sales. Europe and China have led the way, where electric vehicles already account for 11% and 19% of total car sales respectively, WSJ reported, citing data from LMC Automotive.

CBInsights Auto and Mobility Trends estimated that its global market share could reach 22% by 2030. BloombergNEF projected the industry's market share could reach nearly 40% by the end of the decade. The Biden Administration, which included a $7,500 tax credit for purchasing an electric vehicle in last year's Inflation Reduction Act, is aiming for half of US vehicle sales to be electric by 2030.

Sam Bankman-Fried instructed his FTX cofounder Gary Wang to create a "secret" backdoor to enable his trading firm Alameda to borrow $65 billion of clients' money from the exchange without their permission, the Delaware bankruptcy court was told Wednesday. Insider reports: Wang was told to create a "backdoor, a secret way for Alameda to borrow from customers on the exchange without permission," said FTX lawyer Andrew Dietderich. "Mr. Wang created this back door by inserting a single number into millions of lines of code for the exchange, creating a line of credit from FTX to Alameda, to which customers did not consent," he added. "And we know the size of that line of credit. It was $65 billion."

The Commodity Futures Trading Commission (CFTC) made similar allegations when it brought charges against Wang in December. But the value of that line of credit hasn't been discussed before now. The CFTC then described it as "virtually unlimited." [...] Dietderich told the court that with the $65 billion back door, Alameda "bought planes, houses, threw parties, made political donations." Dietderich said the rest of the money went towards personal loans, sponsorships, and investments. "We know that all this has left a shortfall, in value to repay customers and creditors," he added. That amount "will depend on the size of the claims pool and our recovery efforts."