Silicon Valley Bank Collapse, Another Sign Of A Maturing Tech Sector

A shocking tale of a tragedy on its own, but in context, perhaps an encouraging sign of maturity in the tech sector…

Photo by Etienne Martin on Unsplash

Clearly, I had no intentions of writing about any of this two days ago. In fact, two days ago, I was happily sipping a glass of Tullamore and throwing darts in the heart of Budapest. Silicon Valley Bank was nothing but just another bank — albeit with a funny, though appropriate name. My only memorable experience with them was their incredibly outdated website, equally atrocious documentation, and that’s kind of it. That changed less than 24 hours later, when in the news I saw the words “bank”, “collapse” and finally “Silicon Valley Bank” in the same sentence, and it sent shivers down my spine. Was this to be 2008 all over again? Is yet another US Bank about to fuck up the livelihoods of tens or hundreds of millions of people across the planet? Or was it something else, something entirely different, perhaps a blessing in disguise?

One’s gut reaction would be to panic and jump to the conclusion of the former. I allowed myself however to sleep on it. Literally, as I had no more than 20 hours of sleep under my belt in the space of five days, which is dangerous even for a veteran night owl like me. So, sleep it was…