Welcome to the Tech Meam Ride Home for Monday, March 27th, 2023.

I'm Brian McCullough today.

Looks like the Short Sharp S. V. Saga has reached the beginning of a conclusion.

Twitter source code has been leaked.

The doubts inside Apple about the upcoming mixed reality headset.

Why has no one presented any evidence for why Tik-Toc might need to be banned?

And again, will Generative AI lead to a physical robot revolution?

Here's what you miss today in the world of tech. First Citizens Bank has agreed to buy the commercial banking business of Silicon Valley Bank

from the FDIC, including all deposits and loans.

So this saga seems to have finally reached the

tidying up stage, quoting Bloomberg.

The acquisition transforms first citizens

into one of the top 15 US.S. banks, according to Bloomberg Intelligence, with help from some favorable terms.

First Citizens is buying about 72 billion dollars of S. V.B's assets at a discount of 16.5 billion dollars, according to an FDIC statement.

This leaves about 90 billion in securities and other S. V.B. assets in the hands of the

FDIC and an estimated cost of the failure to the deposit insurance

fund of about $20 billion.

Meanwhile, the FDIC gets equity appreciation rights in First Citizens with a potential value of

500 million dollars. First Citizens said it will assume

56 billion dollars in deposits and 17 legacy branches will begin operating

as Silicon Valley Bank a division of First

Citizens. There will be no immediate change to customer accounts. Holding said

...