For subscribers
The curse of virality, from house parties to Silicon Valley Bank
As online rumours about SVB snowballed, each social media post had the same impact as shouting ‘fire’ in a crowded cinema
Sign up now: Get ST's newsletters delivered to your inbox
This week, the Federal Reserve announced that it would conduct a probe into its own supervision and regulation of SVB.
PHOTO: REUTERS
Gillian Tett
Last summer, a teenager I know – let’s call her Sarah – threw a pizza party at her parents’ summer house. She invited a dozen friends. So far, so normal. But just before the party started, a friend-of-a-friend of Sarah’s decided to post details of the gathering on social media.
Within the hour, as Sarah’s parents were ordering the pizzas, their beach house was overrun by hundreds of teenagers, most of them complete strangers. Cue panic from the host, horror from her parents and, eventually, a visit from the local police, who shut the party down.
