It was as if millions of subscribers cried out in terror and suddenly went quiet.
The collapse of Silicon Valley Bank (SVB) on Friday was the biggest bank failure since the 2008 financial crisis. The lender, which served some of the most prominent tech companies and startups, was taken over by the FDIC after a run on deposits and fears of a wider contagion. The bank had nearly $175 billion in customer deposits, many of which belonged to tech workers and entrepreneurs.
What does this mean for the economy?
