For subscribers
With the collapse of Silicon Valley Bank, tech may lose a vital organ
Institution played an important role in the sector’s smooth functioning
Sign up now: Get ST's newsletters delivered to your inbox
Silicon Valley Bank was founded 40 years ago to fill the void left by big banks that often baulked at lending to start-ups.
PHOTO: NYTIMES
Richard Waters
Follow topic:
The flood of cash into the tech start-up scene in recent years has led to persistent warnings of disaster. Most often, these have turned on the kind of meltdown that hit Silicon Valley at the turn of the century, when a stampede to make money on the early Internet led to massive over-investment.
It’s safe to say, though, that none of the disaster scenarios envisaged the kind of financial implosion that struck this week at SVB Financial
