Emerging managers hope the new SVB offers the same support to new VCsBefore it crashed, Silicon Valley Bank was known to many startups and venture firms as the place to park their money or take out a capital line. But for emerging managers, it was a lot more than just a financial institution.
Multiple emerging managers told TechCrunch+ that SVB was instrumental in helping them build their firms from the ground up. It also provided support to help them build networks and feel included in the venture ecosystem despite their size. After the bank’s collapse and the ensuing chaos, many were left wondering if the things they loved most about SVB would continue.
Unlike many of their banking competitors — other than equally venture-friendly First Republic Bank — SVB was designed to work with people in the venture community; it had options for smaller funds that other banks did not.
Nisha Desai, the CEO and managing general partner of Andav Capital, said that SVB was a natural choice for emerging managers like herself because it didn’t have the account minimums — or net worth requirements — that many other banks had. Those kinds of limits often restrict first-time funds. Plus, SVB offered capital lines to these small funds, which allowed them to start building their track records while they were still fundraising.
“They gave you some capital to go ahead and invest in companies out of your new funds,” Desai said. “That was helpful. Obviously it wasn’t extended to everybody, but that allowed newer managers to get off of the ground.”
But emerging managers said that while the back-end banking operations got them involved with SVB in the first place, its commitment to emerging managers is what made them want to continue the relationship.
Emerging managers hope the new SVB offers the same support to new VCs by Rebecca Szkutak originally published on TechCrunch

Last week in music industry commentaryLast week’s commentators in the thick of the industry shared their opinions and thoughts on the ultimate power of music fans; Spotify creates new opportunities for artists and more… Is. Continue reading
The post Last week in music industry commentary appeared first on Hypebot.

Edmsoundware TAL Noisemaker Hard Trance Soundpack FREE https://www.youtube.com/watch?v=vZPIBL372qI Edmsoundware.com released 'TAL Noisemaker Hard Trance Soundpack FREE' a freeware soundpack for the Tal Noisemaker synthesizer, and... Read More

WIMS WoodTroller: iPad/Mac MPE controller WoodTroller is an MPE controller application and plug-in that can either be used as a multi-touch controller on the iPad, or in single-touch mode on a Mac. 

WIMS WoodTroller: iPad/Mac-based MPE control WoodTroller is an MPE controller application and plug-in that can either be used as a multi-touch controller on the iPad, or in single-touch mode on a Mac. 

Former Coinbase CTO makes $2M bet on Bitcoin's performanceBalaji Srinivasan has predicted Bitcoin will reach $1 million within 90 days as a consequence of hyperinflation in the United States.

OpenAI unleashes GPT-4, SVB files for bankruptcy, and a PE firm acquires PornhubWelcome to Week in Review, folks, TechCrunch’s regular recap of the week in tech. GPT-4, OpenAI’s text- and image-understanding AI, might’ve dominated the headlines over the past few days. But fresh drama around Silicon Valley Bank’s collapse emerged as well.
We cover all that and more in this edition, so grab a coffee and settle in.
Quick note, TechCrunch Early Stage 2023 is fast approaching. It’ll be in Boston on April 20 and will feature three concurrent tracks of founder-forward workshops, case studies and deep dives with experts in tech entrepreneurship. Further down the line, mark your calendar for TechCrunch Disrupt 2023, which will take place in San Francisco on September 19– 21. As always, it’ll be jampacked with roundtables, firesides, Q&As and showcases from luminaries in their fields. You won’t want to miss it.
Now, on to the news.
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OpenAI debuts GPT-4: After much anticipation, OpenAI, the AI startup with major backing from Microsoft, has released a powerful new AI model called GPT-4. GPT-4 can generate text and accept image and text inputs — an improvement over its predecessor, which only accepted text — and performs at “human level” on various benchmarks. But GPT-4 isn’t perfect. Like most other generative text AI, the model “hallucinates” facts and makes reasoning errors — sometimes with great confidence.
Microsoft goes all-in on AI: Leveraging the latest tech from OpenAI, including GPT-4, Microsoft launched new AI-powered features across its suite of productivity tools under the brand Copilot. Copilot handles different tasks depending on the app in which it’s used. For example, in Word, Copilot writes, edits, summarizes and generates text; in PowerPoint and Excel, Copilot turns natural language commands into designed presentations and data visualizations; and in Power Apps, Copilot helps refine ideas for low-code software.
SVB files for bankruptcy: One week after trading was halted for SVB Financial and after regulators took control of the holding company for Silicon Valley Bank and other subsidiaries, SVB Financial has taken the next inevitable step. On Friday, the bank announced that it has formally filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York. This will mean that SVB Financial can apply — and plans to apply — to the courts to resume activities while finding buyers for its assets, which include going ahead with its plan to sell off SVB Securities and SVB Capital.
Google Glass bids farewell: Google Glass, Google’s misunderstood bit of AR tech, is no more. Google announced this week that it would stop selling the last incarnation of Glass, Glass Enterprise Edition, on March 15 (but continue to support existing customers until September 15). Readers will recall that Glass, which celebrated its tenth anniversary last month, never quite managed to gain traction, becoming the subject of ridicule and parodies even after a pivot in focus from consumer to enterprise.
YouTube TV gets pricey: In a move sure to irk cord cutters, YouTube has announced that it’s raising the price of its YouTube TV subscription to $72.99 per month — an $8 increase from the current $64.99 monthly fee. The Google-owned company blames a rise in “content costs” for the change. (Perhaps not coincidentally, YouTube TV recently announced a streaming deal with NFL Sunday Ticket, which is reportedly worth $2 billion per season.)
Via acquires Citymapper: Transportation startup Via, which recently raised $110 million at a $3.5 billion valuation, has snatched up Citymapper, the London startup that produces the popular urban mapping app of the same name. Originally making a name for itself as an alternative to apps like Google Maps for consumers planning journeys in metropolitan areas using public transportation, Citymapper arguably never really managed to capitalize on its momentum and early promise.
Baidu’s ChatGPT rival flails: In other AI news this week, Ernie Bot, Chinese search giant Baidu’s answer to ChatGPT, underwhelmed. TechCrunch wasn’t able to try it, but industry observers inside and outside China pointed to the fact that rather than showcasing Ernie through a live demo, Baidu opted for a lengthy presentation with pre-recordings of Ernie’s answers. The company’s shares slumped as much as 10% in Hong Kong following Li’s presentation.
Pornhub meets private equity: MindGeek — owner of several adult entertainment sites, including Pornhub, Brazzers and Redtube — was acquired by a Canadian private equity firm, Ethical Capital Partners (ECP). The acquisition follows a rocky few years for the porn giant. MindGeek’s CEO Feras Antoon and COO David Tassillo both departed from the company in June 2022. MindGeek also is currently in the midst of multiple lawsuits that allege it has knowingly profited off of child sexual abuse material.
Dish customers in the dark: Dish customers are still looking for answers two weeks after the U.S. satellite television giant was hit by a ransomware attack. In a public filing published on February 28, Dish confirmed that ransomware was to blame for an ongoing outage and warned that hackers exfiltrated data, which “may” include customers’ personal information, from its systems. But Dish hasn’t provided a substantive update since, despite customers continuing to experience issues — and not knowing if their personal data is at risk.
audio
TechCrunch’s stable of quality podcasts grows by the hour. (Rejoice, those with long commutes.) This week on Equity, Alex and Natasha discussed the M&A spree that captured Qualtrics, Cvent, and Mint Mobile, as well as what’s followed the SVB collapse, GPT-4 and why Y Combinator is scaling back from late stage. Over at Found, meanwhile, Amanda and Darrell spoke with Teddy Solomon, the co-founder of Fizz, a social media app aimed at college students focusing on building community on campus. The interview touched on what Gen Z is looking for in their social media, how to thoroughly moderate a platform like Fizz and how this kind of community building could go far beyond colleges.
TechCrunch+

TC+ subscribers get access to in-depth commentary, analysis and surveys — which you know if you’re already a subscriber. If you’re not, consider signing up. Here are a few highlights from this week:

Rethinking points of failure: Natasha M writes about how, in light of the SVB collapse, perhaps founders should rethink entrusting a single person to lead their business to success. She polled a number of early-stage founders who are building companies that have raised a Series A or less to understand how they think about succession. The consensus is that it’s not top of mind, or even top of the list, in a world where founders are more focused on runway, product-market fit and growth.
Strange things afoot at Unearthly Materials: Tim reports on Unearthly Materials, a startup that claimed to have big-name investors behind its tech that could lead to a superconductor breakthrough. But as it turns out, those investors weren’t all on board, especially given Unearthly Materials’ questionable record.
Good news for software companies: Depressed from this week in news? Alex writes that it isn’t all doom and gloom. Some software companies are performing quite well during the wider tech industry crash — at least, if their earnings reports are anything to go by.
OpenAI unleashes GPT-4, SVB files for bankruptcy, and a PE firm acquires Pornhub by Kyle Wiggers originally published on TechCrunch

MusicAlly have reported that DIY and non-major music accounts for a quarter of Spotify streams.

In 2017 the majors and Merlin accounted for 87% of Spotify’s total streams, but that proportion fell to 85% in 2018; 82% in 2019; 78% in 2020; 77% in 2021 and now 75% in 2022, meaning DIY music is growing in proportion.

#MusicBusiness #MusicIndustry #independent #Spotify #indie

Sonic Sirius The Meditation Soundset The Meditation Soundset by Abc Sound Design for the FKFX - KrishnaSynth Legacy. • Inside: The Meditation Soundbank by Abc Sound Design with 60 Presets • Genre: Ambient -... Read More

Dolby Atmos Renderer application released Dolby's latest software release combines the features of their Dolby Atmos Production Suite and Dolby Atmos Mastering Suite tools into a single all-in-one solution.

Getting It Done: Last week in D.I.Y. and Indie musicThis week, our tips and advice for the independent, do-it-yourselfers out there covered how a TikTok ban could affect artists, a how to prepare a guide, and much more How. Continue reading
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REWIND: The new music industry’s week in reviewLast week was a busy week by any definition, and the music industry was no exception, with almost a third of musicians skipping meals to survive, ten up-and-coming artists to. Continue reading
The post REWIND: The new music industry’s week in review appeared first on Hypebot.

Orchestral Tools release Sinoid The latest library in the Fabrik series contains a range of wind and percussion instruments that have been combined with sine waves and processed using a range of analogue effects units.

BLUE ÉLAN RECORDS RELEASES CHARITY ALBUM 'PRECIOUS TO ME'Blue Élan Records, in collaboration with KZZ Music, have once again joined in partnership with the Alliance for Children's Rights to benefit this worthwhile organization. Released today, PRECIOUS TO ME, will bring awareness to a shared vision in which all children have safe permanent families with the support they need to thrive. All proceeds from the album will directly benefit The Alliance. You can follow this link to pre-order the album and get a digital copy instantly.

Listen to Precious to Me

The Alliance provides services to impoverished, abused, and neglected young people; providing free legal services, advocacy, and programs that create pathways to jobs and access to education.  The Alliance levels the playing field and ensures that children of all ages within the foster care system are able to fulfill their potential. Blue Élan/KZZ Music founder, Kirk Pasich, explains the significance of this project to the label: “We chose to revisit classic songs from over the years.  Some are just songs we and the artists love - “Call Me The Breeze,” “Big Rock Candy Mountain,” “Bennie and the Jets.” Others are songs that we thought said something in their own way about helping children - “Runaway Train,” “It’s A Hard Life Wherever You Go,” “When The Children Cry.” Label artists Soul Asylum, Gerry Beckley (of the band America), Ozomatli, Chelsea Williams, and label alumni Bob Gentry, Cindy Alexander, Mustangs of the West, Bryan Stephens and Scout Durwood, were joined by label friends Sam Morrow, Ginny Luke, Maiya Sykes, Mary Scholz and Bernie Barlow to record the 15 classic tracks, handpicked by producers Pasich and Colin Devlin. Recording sessions took place over a period of time and slowly the album began to take shape. The idea to gather this collection and benefit such a worthwhile charity as The Alliance for Children’s Rights was born. Blue Élan has supported the charity with various releases over the past few years and looks forward to bringing awareness to the work that they do to help children succeed and flourish. Precious to Me Track Listing:

"Runaway Train" -  Chelsea Williams

"Call Me the Breeze" - Sam Morrow

"It's a Hard Life" - Natalie Gelman

"Big Rock Candy Mountain" - Soul Asylum

 "Always Midnight" - Ginny Luke

"Bennie and the Jets" - Maiya Sykes

"The Sun Ain't Gonna Shine Anymore" - Gerry Beckley (of America)

"Willie and the Hand Jive" - Ozomatli 

"You Make Loving Fun" - Mary Scholz

"Stuck in the Middle with You" - Bernie Barlow

"Crazy for You" - Bob Gentry

"In This Life"  - Cindy Alexander

"Crystal Blue Persuasion" - Bernie Barlow & Chelsea Williams

"Precious to Me" - Mustangs of the West

"When the Children Cry" - Bryan Stephens, Ginny Luke & Scout Durwood

 For more information contact:Blue Élan Records / MAD InkPRMelissa Dragich - mdragich@blueelan.comWhy the Alliance for Children’s RightsSince 1992, the Alliance for Children’s Rights has provided services to impoverished, abused, and neglected young people. By providing free legal services, advocacy, and programs that create pathways to jobs and access to education, the Alliance levels the playing field and ensures that children who experience foster care are able to fulfill their potential. Blue Élan and the Alliance for Children Rights share a vision in which all children have safe, permanent families with the support they need to thrive. Your support will help provide free legal services and advocacy for children in foster care, training and education for those who work with or care for these children, and system-wide reform to change policies to improve children’s lives. The Alliance cuts through the bureaucracy of the courts, healthcare system, school districts, and government agencies to secure a brighter future for children in need. Their staff and extensive network of pro bono attorneys advocate directly for individual children and work toward broader policy solutions to expedite adoptions out of foster care, secure medical coverage, critical therapies, housing, and education, support children recovering from trauma and those with disabilities, and assist young adults aging out of foster care as they grow into independence and self-reliance. Learn more about the Alliance for Children's Rights here: https://found.ee/PghX

Real-world assets tokenization lacks infrastructure, not just regulationNext-generation of securities, assets tokenization has been held back by lack of infrastructure, as well as regulatory standards worldwide according to BlackRock's Larry Fink.