What Next: Why Silicon Valley Bank Collapsed

Slate Technology

Slate

Society & Culture, Technology, History

4.6 • 636 Ratings

🗓️ 15 March 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

The downfall of Silicon Valley Bank marks the second largest bank collapse in American history. Why and how did SVBgo under? Where were the regulators? And how do we stop this from happening again? Guest: Annie Lowery,staff writer at The Atlantic and the author of Give People Money. If you enjoy this show, please consider signing up for Slate Plus. Slate Plus members get benefits like zero ads on any Slate podcast, bonus episodes of shows like Slow Burn and Amicus—and you’ll be supporting the work we do here on What Next. Sign up now at slate.com/whatnextplus to help support our work. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I made you think you was dream.
0:02.0	My name is Caden Sinclair.
0:04.0	Some people call us American royalty.
0:06.0	We were liars.
0:07.0	A new series on Prime Video.
0:09.0	We were happy. We wanted for nothing.
0:12.0	Based on the best-selling novel.
0:15.0	Something terrible happened last summer,
0:17.0	and I have no memory of what or who hurt me.
0:20.0	No one in my family will tell me.
0:22.7	When you're left for dead, you want answers. We were liars. New series, watch now, only on
0:28.9	Prime Video. Hey everyone. There is some unbleeped language in this episode. You've been warned.
0:47.3	Annie Lowry writes for the Atlantic, and she lives in the spiritual home of the tech industry,
0:52.6	San Francisco. That means this past weekend was a strange one for her.
0:56.3	It's been really, really unusually rainy.
1:02.8	So it's been dumping snow in the Sierra Nevada's, and the weekend was just pouring the entire time.
1:03.9	And people were just, like, sitting inside on Twitter.
1:08.2	I was, like, just texting with people who are like, oh my gosh, like my corporate
1:12.3	card doesn't work.
1:17.9	These corporate credit cards were offline because a lot of them were linked to Silicon Valley
1:22.7	Bank, the regional lender that you've probably heard about by now.
1:26.4	The storms on Wall Street continued today after regulators seized the assets of Silicon Valley Bank.
	...

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