SVB's failure will have a ripple effect across technology 'for years to come'
Publishing timestamp: 2023-03-14 20:40:27
Summary
The collapse of Silicon Valley Bank (SVB) is expected to have a significant impact on the technology industry globally, particularly for startups trying to access funds and credit lines. SVB was a critical player in providing credit lines and other instruments that allowed startups to pay their employees or ride out hard times. The collapse of SVB has come at a difficult time for startup investors, and it may force firms to change their business models and pivot to profitability. The collapse of SVB is the biggest banking failure since the 2008 financial crisis and is likely to have a ripple effect across the tech landscape for years to come.
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Tickers: SIVB,
Keywords: svb financial group, business news, technology, economy, venture capital, start-ups, banks,