Crypto Collapse and AI Boom Contrast Tech Turmoil
• Crypto contagion with the collapse of FTX and criminal charges against founder Sam Bankman-Fried • Massive venture funding pouring into AI startups, with huge investments from Microsoft, Amazon, and others • Shocking collapse of Silicon Valley Bank, a pillar of startup banking for 40 years, forcing an industry reckoning • Continued tech layoffs, with nearly 200,000 lost jobs in 2022, raising questions about 2023 • Drama around the surprise ouster and return of OpenAI CEO Sam Altman in unclear circumstances