Big tech has long thought itself above the state. Silicon Valley Bank’s meltdown is stark proof that it isn’t | James Ball
https://www.theguardian.com/commentisfree/2023/mar/13/big-tech-silicon-valley-bank-meltdown-federal-reserve
In the US, the Federal Reserve has stepped in to guarantee deposits. The tech sector should realise it can’t go it alone
Silicon Valley Bank (SVB) became one of the 20 largest banks in the US by being the darling of west coast tech startups, but it transpires that it expanded at the expense of managing its exposure to risk.
