Silicon Valley Bank: An ‘It’s a Wonderful Life’ bank run for the digital age
The downfall of the Valley institution, which has been called “the backbone of the startup economy,” was caused by a good old-fashioned bank run, but one that ran at internet speed.
The seizure of Silicon Valley Bank by regulators Friday morning shows how brittle financial institutions can be in the digital age. The downfall of the Valley institution, which has been called “the backbone of the startup economy,” was caused by a good old-fashioned bank run, but one that ran at internet speed.
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