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12:05 PM ET, March 11, 2023

memeorandum

 Top Items: 
CNN:
Silicon Valley Bank collapses after failing to raise capital  —  New York CNN —  Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US history.
RELATED:
Jesse Pound / CNBC:
Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis  — The FDIC said in the announcement that insured depositors will have access to their deposits no later than Monday morning.  — SVB's branch offices will also reopen at that time, under the control of the regulator.
Matt Levine / Bloomberg:
Startup Bank Had a Startup Bank Run  —  Programming note: Money Stuff was supposed to be off today, but: bank run!  —  SVB  —  The lesson might be that there are some industries that are bad to bank.  Imagine that it was 2021, and someone was like “do you want to start the Bank of Crypto?
New York Times:
Silicon Valley Bank Fails After Run on Deposits
Aaron Blake / Washington Post:
As Fox News panicked in 2020, leaders warned of featuring Buttigieg, Coons  —  The top Biden campaign surrogates were singled out in the post-election period, with CEO Suzanne Scott saying 'audiences don't want to see too much' of guests like them  —  It's a rather small cadre of politicians …
Discussion: The Wrap and NPR
RELATED:
David Lat / Original Jurisdiction:
Yale Law Is No Longer #1—For Free-Speech Debacles  —  Congratulations, Stanford Law, you're the new poster child for intolerance.  —  Congratulations, Stanford Law School.  You're the nation's new top law school—when it comes to free-speech debacles.1 (And I'm interrupting my vacation to cover you—so thanks for that too, SLS.)
RELATED:
Lisa Friedman / New York Times:
Biden Administration Expected to Move Ahead on a Major Oil Project in Alaska  —  The decision would allow an enormous $8 billion drilling project in the largest expanse of pristine wilderness in the United States.  —  WASHINGTON — In one of its most consequential climate decisions …
RELATED:
Ella Nilsen / CNN:
Biden administration to approve major Alaska oil drilling project Willow
Discussion: Bloomberg and BizPac Review
Adam Wren / Politico:
Can Trump's ‘Straight Man’ Lighten Up?  —  The last time Mike Pence headlined the Gridiron Club dinner, he was a stand-in.  His boss, whose media baiting was already reaching highway-speed just two months into his first term, had no interest in playing nice with his critics, so he palmed off the job to his vice president.
Discussion: Washington Examiner
RELATED:
Slate:   Can Georgia Republicans Really Fire a Prosecutor for Indicting Trump?
Tim Carman / Washington Post:
A Va. bakery gave BLM activists free coffee.  Then came the backlash.  —  Brian Noyes and Josephine Gilbert agreed to sit down on March 1 and talk it out.  Noyes, founder of the celebrated Red Truck Bakery, and Gilbert, the leader of a loose coalition that demonstrates under the banner of All Lives Matter …
New York Times:
Inside Ron DeSantis's Politicized Removal of an Elected Prosecutor  —  The Florida governor accused the Democratic prosecutor of undermining public safety.  But a close examination of the episode reveals just how fueled it was by Mr. DeSantis's political aims.
Discussion: HuffPost
Air Force:
New paint design for ‘Next Air Force One’  — Secretary of the Air Force Public Affairs  —  President of the United States Joe Biden has selected the livery design for the “Next Air Force One,” VC-25B, a design that will closely resemble the livery of the current Air Force One, VC-25A, while also modernizing for the 21st century.
New York Times:
Michael Cohen to Testify at Grand Jury as Likely Trump Indictment Looms  —  Mr. Cohen, Donald J. Trump's former fixer, is the key witness in a case built around a hush money payment to Stormy Daniels.  —  Michael D. Cohen, the former fixer who for years did Donald J. Trump's dirty work …
Katie S. Phang / MSNBC:
The true cost of Dominion's devastating Fox News bombshells  —  I spent almost 25 years as a trial lawyer before I became the host of the Katie Phang Show.  Whether it was a criminal or civil case, the facts and the evidence are what mattered the most.  And my currency as a trial lawyer?  The truth.
Discussion: Raw Story and The Guardian
Peter Hermann / Washington Post:
5 archaic D.C. laws still technically on the books after crime bill is nixed  —  When D.C. embarked on a years-long process to overhaul its criminal code, one of the things city council members set out to do was remove from the books antiquated laws that are no longer relevant to modern society.
RELATED:
Wall Street Journal:
Saudi Arabia, Iran Restore Relations in Deal Brokered by China
Eleanor Klibanoff / The Texas Tribune:
Three Texas women are sued for wrongful death after assisting with abortion  —  In the first lawsuit of its kind since Roe v. Wade was overturned, a husband seeks damages from women who helped his ex-wife obtain the medications to terminate her pregnancy.  —  A Texas man whose ex-wife terminated …
Jozsef Papp / Atlanta Journal-Constitution:
Family: Activist's hands raised when shot by troopers near training center site  —  Family files lawsuit against city of Atlanta for release of information  —  An independent autopsy showed Manuel Teran's hands were raised when the activist was fatally shot by state troopers in January near …
Discussion: Raw Story and New York Daily News
Jasmine Hilton / Washington Post:
Man accused of painting ‘groomer’ on Md. libraries charged in child porn case  —  Charles Sutherland had previously been charged over the vandalism authorities alleged was fueled by hate  —  A 31-year-old Takoma Park man alleged to have spray-painted the word “groomer” …
Discussion: HuffPost, MoCo360 and Insider
Winn Sioux Christnot-Peters / Second Nexus:
Eric Swalwell Perfectly Shames Jim Jordan Over Hypocritical ‘Subpoena Compliance’ Demand  —  Eric Swalwell calls out Jim Jordan's hypocrisy for issuing subpoenas after defying them when Democrats were in control.  —  California Democratic Representative Eric Swalwell called out the hypocrisy …
Brandi Buchman / emptywheel:
Jan. 6 seditious conspiracy comes into focus at Proud Boys trial as classified ‘spill’ roils proceedings  —  The Proud Boys seditious conspiracy trial started this week with prosecutors rolling out meticulous frame-by-frame video footage from Jan. 6 that, for the first time in more than a month …
Austin Weinstein / Bloomberg:
SVB CEO Sold $3.6 Million in Stock Days Before Bank's Failure  —  Silicon Valley Bank Chief Executive Officer Greg Becker sold $3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that led to its failure.
Ben Caspit / Al-Monitor:
Tensions in West Bank threaten Israel-US intelligence cooperation  —  Top US Gen. Milley delivered “unprecedented message” to Israeli officials, warning that internal chaos and growing tensions in the West Bank could endanger the country's strategic relations with the United States.
 
 
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 More Items: 
Anastasia Edel / Foreign Policy:
Staring Down the Black Hole of Russia's Future
Los Angeles Times:
Tom Girardi gave $1 million in payments, gifts to top State Bar investigator, corruption probe finds
Discussion: San Bernardino Sun
Bruce Leshan / wusa9.com:
‘I snapped’ | Day care owner says she shot her husband accused of child molestation in a moment of rage
Discussion: Twitchy
Mark Magnier / South China Morning Post:
Exclusive: China unofficially suggests way to mitigate any Taiwan trip by House speaker: US sources
Anshel Pfeffer / Haaretz:
Israel's Long-awaited Secular Uprising Is Finally Here
Ross Ketschke / WMUR:
Video shows Wentworth state representative shouting at plow driver outside home
Discussion: TMZ.com, New York Post and Raw Story
 Earlier Items: 
Andrew Perez / The Lever:
Workers Are Funding Private Equity's Child Labor Exploitation
Discussion: Jacobin
Jim Geraghty / National Review:
How Often Do AOC and MTG Agree?
Jeet Heer / The Nation:
The Horrifying and Shameful Return of Child Labor
Discussion: Wall Street Journal and MLive.com
Michael C. Bender / New York Times:
A Glimpse of DeSantis in Iowa: Awkward, but Still Winning the Crowd
Chris Stokel-Walker / Wired:
Twitter's $42,000-per-Month API Prices Out Nearly Everyone
Caleb Ecarma / Vanity Fair:
How Rod Dreher's Blog Got a Little “Too Weird” for The American Conservative
 

 
From Techmeme:

Stephanie Palazzolo / The Information:
An undisclosed 2023 agreement between Microsoft and OpenAI defines achieving AGI as the point when OpenAI develops AI systems that generate $100B+ in profits

Noah Smith / Noahpinion:
How H-1B workers from India and other countries help the US remain dominant in tech, as some on the new “Tech Right” discover MAGA's racial-nationalist bigotry

Shubham Sharma / VentureBeat:
DeepSeek releases DeepSeek-V3, an open-source MoE model of 671B total parameters, with 37B activated per token, claiming it outperforms top models like GPT-4o

 
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