Silicon Valley Bank Isn’t the Canary in the Tech Coal Mine
Last week, Silicon Valley Bank (SVB), known for its 35-year relationship with the tech start-up scene, imploded. It's very easy, and maybe even tempting, to position Silicon Valley Bank’s collapse as something bigger - a canary in the coal mine for Peak Tech. Such thinking breaks down into the following:
The way SVB’s meteoric rise in deposits, driven by Silicon Valley momentum during the pandemic, masked inadequate risk assessment is analogous to how private tech companies saw ballooning private valuations while avoiding scrutiny over unsustainable business models by delaying IPOs.
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