Business & Legal Developments in Silicon Valley | March 2023
Friends,
They say the valley never sleeps. Just as Daylight Savings Time forces us to spring forward, tech innovations often spur rapid changes in how we plan for and approach our business strategies. Look no further than the rise of generative AI, automation, or convergence in hyper-scale computing. If your company is not leveraging emerging tech today, you may be left behind tomorrow.
We began March by coordinating a rapid response to several major bank receiverships. Click here for updates on this fluid situation.
Our colleagues offered ongoing thought leadership on how founders and funders can take advantage of market opportunities. Explore our newly launched Foley Forward: Trends 2023 for an overview of today’s funding environment and tips on navigating uncertainty across the world’s most important sectors — energy, health care and life sciences, manufacturing, and innovative technology.
We celebrated our Foley Partners who were honored this month: Natasha Allen and Alidad Vakili were named founding partners to Firstboard.io; Eileen Ridley was honored at Legal Momentum’s Women of Achievement Awards; and Benjamin Dryden was named a 2023 AI Visionary by Relativity.
Additionally, we hosted several successful events, including our annual GCVI Dinner, Cocktails and Conversation at SXSW, and an Exclusive Silicon Valley VC and CEO Dinner.
As always, we would love to see you at our upcoming events. Do not hesitate to reach out if we can help you brainstorm a legal or business challenge you are facing or get connected to a potential entrepreneur, investor, or professional.
Your Foley & Lardner Silicon Valley team (Natasha Allen, Eric Chow, Brandee Diamond, Louis Lehot, Lyman Thai, André Thiollier, Alicia D’Alba Dorner, and Alidad Vakili).
March Events
Implications of the SVB Collapse for All Board Members | March 15, 2023
When the dust settles from the collapse of Silicon Valley Bank, commentators and pundits will make proclamations about the cause and impact of SVB’s implosion. While the dust is still rising, we have an opportunity to reflect on both the clear and the less obvious governance and risk issues surrounding the SVB ecosystem and glean lessons which can be applied to every board, regardless of industry.
Pitch Global CVC Leadership Hybrid Summit | March 17, 2023
Calling all corporate venture capital leaders! Foley is proud to participate in the Pitch Global CVC Leadership Hybrid Summit in partnership with Silicon Valley SBDC and the California Governor’s Office of Economic Development.
Exclusive Silicon Valley VC and CEO Dinner | March 27, 2023
Foley & Lardner LLP’s Louis Lehot, Natasha Allen, Lyman Thai, Andre Thiollier, and Andre Thiollier, and Alidad Vakili proudly hosted an evening with founders and funders at the historic British Bankers Club in Santa Cruz, in partnership with Anthony Pedrotti, West Coast Leader, Deloitte Services LP, and David Wright, President, Silicon Valley Risk & Insurance Services. Here are the key takeaways from the event.
How To Tackle Legal Issues in 2023: Legaltech for Solopreneurs and SMB owners | March 28, 2023
Of Counsel, Alidad Vakili recently presented in a webinar on what solo entrepreneurs, small business owners, and startups should look for when seeking legal assistance for the first time — plus the best tech solutions to optimize daily legal tasks.
How to Avoid Big Startup Mistakes | March 29, 2023
Join Alidad Vakili, Of Counsel, for a discussion on frequent legal mistakes made by entrepreneurs and startups. By understanding these common missteps, entrepreneurs and startups can more successfully navigate the pitfalls and traps that can keep them from getting off the ground. A recording of the webinar is available for those interested.
LSEC Virtual Fireside Chat: Explore SciTech | March 30, 2023
Co-Chairs of the Information Security Committee of the American Bar Association Science and Technology Law Section were proud to lead this recent Law Student Engagement Committee fireside chat.
Founder Happy Hour | March 30, 2023
Partner Louis Lehot recently attended this happy hour with One Way Ventures, Flyer One Ventures, and Google Cloud Google’s San Francisco offices! This event presented a great opportunity to learn about the latest market trends and build valuable relationships that could benefit your business.
Highlights
Foley Forward: Trends 2023
Our inaugural Foley Forward whitepaper is here! Explore pieces on how innovative technology will transform this year — from M&A and regulation to the buzziest new platforms.
Louis Lehot Discusses Effect of SVB Collapse on Silicon Valley Region
Bloomberg featured insights from partner Louis Lehot on the legal and business hot topics around major bank receiverships.
FTC Issues Guidance on AI-Powered Products
Amidst the rise of ChatGPT, the government is taking a peek at ways to mitigate risks in generative AI technologies. Learn what the FTC and Congress may have in store.
Louis Lehot and Christopher Swift Discuss New Outbound Investment Regime Under Review
Partners Louis Lehot and Christopher Swift were quoted in the IFLR article, “Reverse CFIUS: US gets a grip on outbound investment.” Explore how mission-critical industries will be affected.
2023 M&A Outlook
What does the M&A forecast look like for 2023? Will we see an uptick in activity, or will we continue to see a much more cautious approach from buyers and targets? Here are some of the predictions making headlines.
Deals
Foley Represents Zero Systems in Investment From Thomson Reuters Venture Fund
Foley Represents Claritas Capital and Emerald Plus as Investors in Matchday
Additional Articles of Interest
Key Takeaways: Bank Receiverships Week Two
Deep Dive Into Generative AI and What Will Drive Tomorrow
IP Lawyer vs. ChatGPT: Top 10 Legal Issues of Using Generative AI at Work
The State of Emerging Tech: AI and ML Leading the Pack
Foley Partner Louis Lehot Authors Article on Generative AI for National Law Journal
Building Biotech with Brains: Strategies for Maximizing Value of AI-Driven Biotechnology Inventions
Anatomy of an Agreement: Unique SaaS Contract Structures and Key Terms to Address in the Cloud
IRS Issues Notice on Treatment of NFTs as Collectibles
Natasha Allen and Alidad Vakili Named Firstboard.io Founding Partners
Lyman Thai Discusses High-Tech Career, Guiding Cutting-Edge Clients
What is the State of Digital Health Funding in 2023?
Venture Investment in Gaming Remains Strong
Mexico: Some Key Issues to Watch in a Financially Stressed Environment
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