Silicon Valley’s biggest tech corporations are continuing mass layoffs in the United States, even as they import more than 34,000 foreign H-1B visa workers to take coveted white-collar jobs in Science, Technology, Engineering, and Math (STEM) fields, new analysis shows.
This is not the sort of jobs report you would expect if the economy was teetering on the edge of a recession.
Fiscally sound banks will probably sue the Federal Deposit Insurance Corporation (FDIC) for charging them higher fees to offset the bailout of unsound banks, Breitbart Economics Editor John Carney told Fox Business host Larry Kudlow.
The Democratic National Committee (DNC) and President Joe Biden’s presidential campaign stated they would return political donations tied to the collapsed Silicon Valley Bank on Friday, according to USA Today.
SVB Financial Group, the former parent company of the collapsed Silicon Valley Bank, filed for 11 protection on Friday in New York bankruptcy court.
Rep. Maxine Waters (D-CA), the ranking member on the House Financial Services Committee, said she plans to give back the campaign donations she received from the political action committee for Silicon Valley Bank.
Silicon Valley essentially put the cost of ordinary corporate treasury prudence onto the banking system and got rewarded for it when the government broke its own rules and agreed to back even the largest deposits at Silicon Valley Bank.
Sen. Jon Tester (D-MT) attended a fundraiser Monday night in California with a partner from Silicon Valley Bank’s legal firm, just days after the tech-sector-focused bank collapsed.
The Federal Deposit Insurance Corporation (FDIC) plans to try and auction off the collapsed Silicon Valley Bank (SVB) for a second time, according to the Wall Street Journal, after the first attempt failed on Sunday.
There’s no question Biden is rushing to protect his supporters in Silicon Valley while hoping enough Trump supporters in East Palestine die to give Democrats an edge in what used to be a swing state.
Breitbart Economics Editor John Carney said in an interview on Saturday on Larry Kudlow’s eponymously named radio show that a government bailout of the collapsed Silicon Valley Bank could deepen the panic.
According to former employees and customers, Silicon Valley Bank had multiple problems — including systemic tech issues — long before the bank’s collapse.
Former Rep. Barney Frank (D-MA), author of the 2010 Dodd-Frank bill, sat on the board for Signature Bank which collapsed in the wake of the Silicon Valley Bank (SVB) implosion.
Before joining the Silicon Valley Bank as the Chief Administrative Officer (CAO) in 2007, Joseph Gentile served as the Chief Financial Officer (CFO) at Lehman Brothers’ Global Investment Bank before the public collapse in 2008.
Silicon Valley Bank reportedly had no chief risk officer (CRO) for nine months before Friday’s collapse, as the United Kingdom-based head of risk for Europe, the Middle East, and Africa appeared to have focused on pro-diversity initiatives over her actual role.
Former U.N. Ambassador and 2024 Republican presidential candidate Nikki Haley on Sunday rejected any bailouts for the recently shut down Silicon Valley Bank (SVB), saying taxpayers “should absolutely not” rescue it.
Garry Tan, the president and CEO of Y Combinator, recently stated that the collapse of Silicon Valley Bank is an “extinction-level event” for tech startups. Y Combinator has helped launch more than 4,000 tech companies including Airbnb, DoorDash, and Stripe.
The Silicon Valley Bank fallout went international with UK and European lenders seeing nearly £30 billion wiped off their portfolios
The CEO of Silicon Valley Bank (SVB) sold $3.57 million of company stock just two weeks before the technology sector’s primary financial institution collapsed on Friday, according to federal filings.
Jim Cramer, CNBC analyst and host of Mad Money, recommended that his viewers buy shares of Silicon Valley Bank’s parent company last month, before the bank collapsed on Friday.
Treasury Secretary Janet Yellen said during a House Ways and Means Committee hearing Wednesday that the government continues to monitor the Silicon Valley Bank crisis.
The bank is reportedly looking to sell itself to a larger financial institution.
Tech giant Google recently laid off thousands of employees, and the cuts didn’t stop there. The tech giant has laid off a team of robots trained to clear trash and perform other cleaning duties.
Tech giant Google recently laid off around 12,000 employees, including the company’s director of mental health and wellbeing. The Masters of the Universe removing their head of wellbeing is particularly important as their woke Silicon Valley employee base are seeking “psychological safety” after seeing their colleagues shown the door.
Google workers are feeling psychologically shaken after the company announced plans to lay off 12,000 of its workforce amid a general slump in the tech industry.
Prosecutors say disgraced Silicon Valley star and Theranos CEO Elizabeth Holmes is living in a $13,000-per-month estate and showing “no remorse” after being sentenced to more than 11 years in prison for deceiving investors in the failed startup that promised to revolutionize blood testing.
On average, 1,600 tech workers have been laid off every single day in 2023 according to a recent report. The ongoing Silicon Valley slump has caused the tech Masters of the Universe including Facebook, Amazon, and Salesforce to lead the way in cutting high-paid tech employees.
Salesforce, a software giant with a notoriously woke CEO, plans to lay off around 10 percent of its workforce, which would come to about 8,000 employees. It is the latest layoff by one of the Silicon Valley Masters of the Universe.
Comedian Bill Maher and billionaire Mark Cuban — both leftists who backed Joe Biden — had a discussion during Sunday’s episode of Maher’s Club Random podcast about how insufferable and “pretentious as fuck” people are in San Francisco.
Silicon Valley giants including Facebook and Twitter are full of former members of the U.S. intelligence community, according to reports from Mint Press and the Daily Mail. These employees are often found in the “trust and safety” or “misinformation” departments of tech companies — the sections tasked with platform censorship.
The lobbying arm of Silicon Valley’s tech investors, represented by billionaire Mark Zuckerberg’s FWD.us, admits it is “extremely unlikely” that an amnesty for millions of illegal aliens can pass the lame-duck Congress.
Food delivery service and gig economy darling DoorDash is laying off 1,250 of its employees in what the CEO says is part of a broader cost-cutting initiative.
Contracting firms that employ shuttle bus drivers and other service workers that support Facebook (now known as Meta) say they will need to slash a significant number of workers in the wake of Mark Zuckerberg implementing relaxed policies that allow his employees to work from home.
A woman was beheaded by a sword-wielding assailant on a residential street in the Silicon Valley town of San Carlos, California, on Thursday in front of horrified onlookers. The man was later arrested, with police receiving counseling.
Disgraced Theranos founder Elizabeth Holmes, who was recently found guilty on four counts of fraud and conspiracy after she duped investors with her blood-testing startup, is requesting a new trial.
A federal judge declined to overturn a jury’s guilty verdict against disgraced Theranos founder Elizabeth Holmes on Thursday, reports Associated Press.
Snap, the company behind social media platform Snapchat, is laying off approximately 20 percent of its more than 6,400 employees, according to sources.
Apple employees have reportedly begun petitioning against the tech giant’s plans to demand workers return to offices for three days a week starting next month. Apple employees have mounted repeated protests against returning to the office. The employee group “Apple Together” labeled the woke company racist, writing that returning to the office “will make Apple younger, whiter, more male-dominated, more neuro-normative, more able-bodied, in short, it will lead to privileges deciding who can work for Apple, not who’d be the best fit.
Apple will attempt to get its employees to go back into the office after trying for over a year to no avail. This time, the company has set a September 5 deadline for corporate employees to be in the office at least three days a week. Last time the woke giant attempted to get its workers back into the office, it was branded as racist for trying.
Snapchat’s parent company Snap is reportedly in the early stages of planning layoffs, according to two sources.