On with Kara Swisher SVB, IG & AI with Instagram Co-founder Kevin Systrom
19 snips
Mar 16, 2023 
In this chat, Kevin Systrom, the co-founder of Instagram and the AI-powered newsreader Artifact, shares his journey from social media mogul to innovator. He reflects on his regrets about Instagram and discusses the challenges facing new tech ventures like Artifact, especially amid the SVB crisis. The conversation covers the evolving landscape of information curation and the ethical dilemmas in social media. Systrom also critiques the tech industry’s culture and highlights the importance of adapting to changing times in both personal and professional realms.
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SVB Exposure
- Kevin Systrom had 100% of Artifact's funds in Silicon Valley Bank.
- He and his co-founder will loan the company money to avoid layoffs.
More Bad Stuff to Come
- Systrom believes the SVB collapse is just the beginning of larger economic problems.
- He predicts multi-year issues due to rapidly rising interest rates, citing Ray Dalio's work.
Instagram Predecessor
- Jamie Lee Curtis showed Kara Swisher a blog spot predating Instagram with a similar concept.
- Curtis's platform, however, lacked filters and a catchy name.