GeekWire - GeekWire Mid-Week Update

Meta announced another round of significant layoffs on Tuesday, as the parent company of Facebook and Instagram said it would cut about 10,000 jobs.

Editor’s note: Four months after the release of its ChatGPT chatbot, OpenAI unveiled its latest artificial intelligence technology, GPT-4, on Tuesday.

The government takeover and subsequent acquisition of Washington Mutual in 2008 could serve as a potential blueprint for the future of Silicon Valley Bank.

Biopharma acquisitions often come with layoffs and lab shutdowns as smaller companies get absorbed.

Pfizer is buying Seattle-area biotech giant Seagen in a massive $43 billion deal announced Monday.

More than 1,200 business and civic leaders gathered Tuesday afternoon for the Downtown Seattle Association’s annual “State of Downtown” event.  The bright sunny skies and spring-like weather that greeted attendees as they entered the sparkling brand new Seattle Convention Center seemed to highlight the DSA’s upbeat theme of the day: “Optimism & Opportunity.” But there was a more direct call to action that emerged during the 4-hour event: What’s it going to take to get office workers back downtown?

There’s no dancing around the seriousness of the homelessness crisis in Seattle.

Silicon Valley Bank’s swift downward spiral could ease mortgage rates and push property prices downward in tech-heavy metros including San Francisco and Seattle.

While many startup founders and investors slept easier Sunday night knowing their deposits at Silicon Valley Bank were safe, the rapid meltdown of the 40-year-old institution could have short- and long-term ripple effects on the tech startup industry.

Updated with reaction from Seattle-area startup leaders and investors.

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