The need for the emergency government action was the latest for an industry whose reputation has taken repeated criticism in the past few years — running counter to the anti-government, anti-regulation ethos that many tech investors have preached.
over the weekend, writing letters and signing petitions to Congress, but they weren’t able to avert the collapse.
The fact that California’s brightest technical and financial minds didn’t see the trouble coming — let alone stop it — wasn’t lost on many observers and, in fact, the bank’s CEO Greg Becker had“Our society desperately needs to allow irresponsible, arrogant VCs and techbros to experience genuinely painful consequences for their failures,” Faine Greenwood, a data scientist and drone researcher,“There are certain voices on social media that are loud and shrill and they don’t speak for tech,” Om...
It’s not clear the extent to which investors and other tech influencers caused the crisis, but by Friday morning, a number of them were advising companies in their portfolioTo some, it was an indictment of the whole culture of Silicon Valley, the geographic region that’s roughly centered on the southwestern shore of San Francisco Bay.
“Imagine if all these VCs had all been in one room,” he said in an interview on the sidelines of South by Southwest, the Austin, Texas, tech conference, as the crisis unfolded.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Editorial: SVB failure adds to tech industry’s greedy imageBank’s collapse is only the latest example of an industry that is in danger of losing its way.
Weiterlesen »
Gold Price – XAU/USD Eyes Support as CPI Nears and US Bond Yields ReboundThe global interest rate background has changed dramatically over the last few days with interest rate hikes being priced out by the hour. Get your market update from nickcawley1 here:
Weiterlesen »
SVB fallout unlikely to affect fundraising for Southeast Asia startups, venture capitalists sayIndustry experts are optimistic that fundraising for Southeast Asian tech startups will keep flowing and won't be impacted by the collapse of SVB.
Weiterlesen »
SVB Financial mulls strategic options, hires restructuring veteranDefunct startup-focused lender SVB Financial Group said on Monday that it was planning to explore strategic alternatives for its businesses including the holding company, SVB Capital and SVB Securities.
Weiterlesen »
Mortgage rates post big decline amid Silicon Valley Bank falloutWall Street is now betting the Fed will pause its interest rate hike campaign next week amid fallout from the SVB failure, sending mortgage rates tumbling.
Weiterlesen »