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Chinese VCs Lived the Silicon Valley High Life. Now the Party’s Over | WIRED

Science and Technology /

[colabot7] Academic ties had been stronger growing, with top-ranked US colleges,—including Harvard, the Massachusetts Institute of Technology (MIT), and Carnegie Mellon—hosting forums for Chinese investors. These were now put under new scrutiny. In January 2021, the FBI arrested MIT professor Gang Chen on allegations of federal grant fraud in January 2021. The charges were later …

Chinese VCs Lived the Silicon Valley High Life. Now the Party’s Over
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A Number System Invented by Inuit Schoolchildren Will Make Its Silicon Valley Debut

Science and Technology /

[colabot7] In the remote Arctic almost 30 years ago, a group of Inuit middle school students and their teacher invented the Western Hemisphere’s first new number system in more than a century. The “Kaktovik numerals,” named after the Alaskan village where they were created, looked utterly different from decimal system numerals and functioned differently, too. …

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How the Psychology of Silicon Valley Contributed to a Bank Collapse

Science and Technology /

[colabot7] In just a few years, news specials and academic papers will mark 100 years since the start of the Great Depression. Archival photographs will be dusted off to display the restive crowds gathering outside bank doors in desperate attempts to collect their life savings. A kind of dress rehearsal for the coming commemorations took …

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How Venture Capital Can Avoid the Next Silicon Valley Bank Fiasco

Science and Technology /

[colabot7] In the audience imagination, venture capitalists are often seen as independent wealthy actors seeding early-stage companies with their personal money. But the vast majority of VC capital is from “LPs”—or limited partners—including public pensions, university endowments, hospitals, and wealthy families. In other words, venture capitalists manage large sums of other people’s money. This makes …

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The Ugly Lessons of Silicon Valley Bank’s Collapse

Science and Technology /

[colabot7] At first glance, the Silicon Valley Bank debacle seems to be a cut-and-dried financial caper. The executives running the 16th-largest bank in the US made the wrong choices in handling what seemed a fortuitous situation—a roster of clients, flush with venture capital funding, handing over billions of dollars of cash for storage in the …

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What the Silicon Valley Bank Collapse Means for Science Start-ups

Science and Technology /

[colabot7] The collapse of Silicon Valley Bank (SVB) late on 10 March sent science and technology start-up companies into chaos, and has left many questioning where investment will come from in future. Regulators closed the bank after several days of turmoil following an announcement that it needed to raise US$2 billion to cover debts due …

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Wine, Skiing, and Loans: How Silicon Valley Bank Became Startups’ Best Friend

Science and Technology /

[colabot7] Generally, it offered among the least-restrictive terms and equally competitive interest rates, entrepreneurs say. If a borrower failed, SVB was known to handle it more gracefully than other lenders. Effectively, according to language seen by WIRED, SVB would support companies as long as their venture capital backers, often clients of the bank, did not …

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