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Friday's Fast Five: Week of 3.31

First Citizens shares soar 50% after the bank buys a large chunk of failed Silicon Valley Bank (CNBC): The deal includes the purchase of approximately $72 billion of SVB assets at a discount of $16.5 billion, but around $90 billion in securities and other assets will remain “in receivership for disposition by the FDIC.”

How the TikTok Backlash Could Trigger a Broader Wave of Tech Regulation (Barrons): Tiktok's CEO was roughed up at a Congressional hearing on Thursday, which made it clear both political parties support a ban. Not a single member of the committee stood up for the company, which is fascinating, given that TikTok’s short-form video social network is so popular, with 150 million monthly active users in the U.S. alone.

Singleton Prize for CEO Excellence: Charlie Munger in Conversation with Todd Combs (Singleton Foundation)

Yale Invests This Way. Should You? (The Wall Street Journal): Yale University’s endowment has earned spectacular returns in hedge funds, private equity and other ”alternative assets.” Investors hoping to mimic the school need to understand what has made it successful.

Tech industry builds in the ruins again (Axios): Every 15 years or so, it seems, the U.S. economy rolls into a ditch — and the tech industry pulls something remarkable out of its labs. Here we are again! Silicon Valley's favorite bank has failed, while its top firms continue to lay off hordes of workers — but at the same time, industry leaders foresee vast new growth spurred by AI.