Updated at 10:12pm on March 13, 2023.On September 17, 2008, the Financial Times reporter John Authers decided to run to the bank. In his Citi account was a recently deposited check from the sale of his London apartment. If the big banks melted down, which felt like a distinct possibility among his Wall Street sources, he would lose most of his money, because the federal deposit-insurance limit at the time was $100,000.

This is an edition of The Atlantic Daily, a newsletter that guides you through the biggest stories of the day, helps you discover new ideas, and recommends the best in culture. Sign up for it here.Last Friday, California regulators shut down Silicon Valley Bank—a prominent lender for start-ups and venture-capital firms—marking the largest American bank failure since the 2008 financial crisis.

Since Sunday’s daylight saving, many of us are feeling new excitement for spring after months of being beaten down by a frigid winter. Right? Or at least that’s the prevailing narrative across a large part of the country—that we suffer through the doldrums of winter and the payoff is a glorious lead-up to summer’s main event.

If the world turned off the tap of fossil fuels tomorrow, all hell would break loose. Something like 30 percent of global electricity and 9 percent of transport would still be running; billions of people would be stuck at home in the dark.That’s why, even though world leaders now talk constantly about transitioning away from fossil fuels, they also fret about ensuring a supply of oil and gas for next week, next month, and next year.

Financial panics are nothing new. But the strange little panic we’re enduring—one that started last week with a massive bank run causing the collapse of Silicon Valley Bank and that continued this morning with big sell-offs in the stocks of other regional banks—is arguably the first one in which social media, and particularly Twitter, has been a major player. And if the past few days are any indication, that does not bode well for the next major financial crisis.

There was a moment in the middle of tonight’s Oscar ceremony when I started getting concerned text messages from friends. Their line of inquiry was the same: Was All Quiet on the Western Front about to pull a big upset for Best Picture? The German World War I film, distributed by Netflix, had racked up a slew of technical wins, and a ceremony that had begun with a burst of joyous energy seemed headed in a more fusty, old-fashioned direction.

The Oscars have a lot to navigate this year, between their ongoing struggles to increase diversity and atone for last year’s most shocking moment. But the 95th ceremony began with two powerful wins, which in turn delivered two powerful speeches. Ke Huy Quan and Jamie Lee Curtis—both nominated for the first time—won Best Supporting Actor and Best Supporting Actress, respectively, for their work in Everything Everywhere All at Once.

This story contains spoilers for the entire first season of The Last of Us.Video-game adaptations used to be defined by how much they could ignore their source material. A Super Mario Bros. movie couldn’t actually be about cartoon Italians jumping on mushrooms with eyes, so it became a battle against leather-clad lizards in an industrial dystopia. The Street Fighter game is about, well, fighting in the street, but the movie is a G.I. Joe rip-off with far-flung action sequences.

House Speaker Emerita Nancy Pelosi’s message at the annual South by Southwest festival could be summarized in three words: Follow the money.Pelosi uttered that specific phrase—and similar versions of it—several times during her interview with Evan Smith, a contributing writer at The Atlantic, as part of the magazine’s Future of Democracy summit this morning in Austin, Texas.