Tech leaders remain oblivious to the true lessons of Silicon Valley Bank

13 days ago - By Business Insider

Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider Today: Sunday Edition, a roundup of some of our top stories. On the agenda today: Tech leaders remain oblivious to the true lessons of Silicon Valley Bank. Allegations of a toxic culture at $2.4 billion Rokt. Companies are laying off middle managers. That's a huge mistake. The era of Big Oil could end sooner than its massive profits suggest. But first: Insider's Madeline Renbarger shares what happened at the SXSW Festival in Texas as tech founders and entrepreneurs learned about the implosion of...
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Here's why the Silicon Valley Bank crash has made a recession much more likely in 2023

13 days ago - By Business Insider

Spencer Platt/Getty Images
The Silicon Valley Bank implosion has raised the odds for a US recession.
That's because fears of a bank crisis could distract the Fed from its goal of lowering inflation.
"I don't really see a pass through the next 12 months without getting a recession," a source told Insider.
Wall Street is worrying that the fall of Silicon Valley Bank has significantly raised the risk of recession in the US. The chief concern is that the episode has complicated the Federal Reserve's mission to keep fighting inflation, experts say, and the turmoil could be a distraction that...
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Go West, young banker! How America's misguided pioneer mindset fueled the fall of Silicon Valley Bank

13 days ago - By Business Insider

Silicon Valley Bank mirrors the myth of the Old West: It started off as a bold pioneer, only to end up running back to the government for help. Witthaya, aoldman / Getty Images; Arif Qazi / Insider From Manifest Destiny to Big Tech, Silicon Valley Bank is a case study in the how the West was spun As Silicon Valley Bank went down the tubes , it wasn't surprising that the loudest mouths in Techworld started demanding that the federal government cover everyone's losses. When capitalism goes kersplat, even the most libertarian Peter Thiel adherents turn into New Dealers. Sure, they like to...
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