SVB Crisis: A Year Later

It is hard to imagine that it was a year ago that Silicon Valley faced an existential crisis. Its premier financial institution, Silicon Valley Bank, was taken over by the federal regulators. It was one of the most difficult weekends of my working life as it threatened the Silicon Valley way of doing things.

What do French artists, Wright Brothers & AI have in common?

On December 17, 1903, Orville Wright piloted the first powered airplane on a beach in North Carolina. The plane ascended 20 feet above the ground and traveled 120 feet in 12 seconds, approximately 10 feet per second. On the same day, Wilbur Wright flew the aircraft for 59 seconds, covering 852 feet at a slightly faster pace of 14.4 feet per second. By comparison, the average cruising speed of a modern Boeing 737 is 756 feet per second. 120 years after their inaugural flight in 1903, air travel has become commonplace, with around 10,000 flights in the air at any given moment, carrying 1.25 million people.

Implications of the failure of the Adobe-Figma deal

By OM MALIK- Adobe and Figma have mutually agreed to terminate their previously announced $20 billion merger agreement due to anticipated difficulties in receiving necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority. The decision ends the potential acquisition of Figma by Adobe, announced in September 2022. Both companies will […]

Foundational Risks of OpenAI

Even for a region accustomed to tremors, the news of Sam Altman, CEO of OpenAI, being unceremoniously ousted from the company was like an event off the Richter scale. His exit was announced in a terse press release, along with Greg Brockman’s demotion from the chairman of the board. This sent shockwaves across Silicon Valley and the entire technology ecosystem. The board named CTO Mira Murati as the interim chief executive. 

What Would Steve Jobs Have Thought of Our Industry Now?

Steve Jobs has been gone from this planet for a dozen years. Writing about his passing was one of the hardest tasks of my professional life as a writer — not because I knew him personally, but rather due to the realization that he was so unique and singular. It seemed unlikely that I would ever again experience the emergence and impact of someone like him. This morning, I went back to read what I had written then, and this particular passage stood out.

Om Malik: Why AI won’t eradicate humanity

I have spent most of my past week playing around with Adobe’s new “Generative Fill” technology, which is very much like AI programs such as Dall-E and Midjourney that can create pictures based on written text, except that it works within the confines of Adobe’s Photoshop. You can type a phrase, such as “place a tree in the background,” and the program does it quickly and accurately.

Yellen offers (some) clarity on SVB

There seems to be light at the end of the tunnel, even though it isn’t clear as to when founders and wider Silicon Valley community can exhale, even for a minute. The US Treasury Secretary Janet Yellen spoke to the Face the Nation this morning. Her comments reveal that the government doesn’t want it to become a contagion that spreads to other banks. As many have said, this could undermine the faith in US banking system from the point of view of depositors.

Goodbye Spotify

OM MALIK- Way back In 1935, genius musician Duke Ellington in an effort to placate two ladies, placed each of them on two sides of his piano, he composed and played a song — In a Sentimental Mood. Such is the magic of the song that nine decades later I can’t stop listening to it […]

Bully Pulpit

Om Malik- This is the third in my ongoing series of posts about Elon Musk’s quest to buy Twitter. In the first of the series, I pointed out that Twitter’s CEO might be woefully out of his depth, and the board has failed to do its job. Twitter founder and former CEO Jack Dorsey agreed with […]

Peek Into The Future

Om Malik- Yet Another Apple Event, also known as an opportunity for The New York Times columnists to mock it, is in the rearview mirror. Unlike the Times, I was impressed that Apple created a machine (Mac Studio Ultra) that is about the size of three hard drives and is 25 percent as powerful as IBM’s […]