Silicon Valley Bank – A Signature Failure
It remains to be seen how the Federal Reserve Bank will react when it meets next week to confront the ongoing battle of curbing inflation, stabilizing the economy, and keeping the banking system together
Breakfast With Bwana
By Anil Madan
The crash of Silicon Valley Bank (SVB) has rattled financial markets, and the entire banking system shows signs of strain. SVB found a special niche catering to the tech, biotech and crypto industry startups funded by venture capitalist (VC) industry. Its connections to VCs and high-net-worth people in the companies they financed, helped it to build relationships with depositors from those tech, biotech and crypto companies from Silicon Valley in California to Boston and beyond.
Startup-focused lender SVB Financial Group i.e., the Silicon Valley Bank Group became the largest bank to fail since the 2008 financial crisis. Pic – Daily Motion
Since the end of the financial crisis of 2008-09, there has been a boom in venture capital investments which gathered steam as innovations in technology, science, and the financial world took on new life with digital tools and new thinking on how to adapt technology and the Internet to manage the world’s business and solve its problems. Read More… Become a Subscriber
Mauritius Times ePaper Friday 17 March 2023
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