Normally, you’d have to hold my family hostage before I became a banker-I picture the buttoned-up prig who hired Mary Poppins. Some bankers had wine fridges in their offices. SVB would party with tech people-and vintners, another sector they were deep into. The VCs and angels funding new companies would routinely send entrepreneurs to the bank, which often handled both company accounts and the personal finances of founders and executives. As has been widely reported-only now with a critical eye-Silicon Valley Bank was not only the bank of choice among Silicon Valley companies, but an ingratiating cheerleader for startup culture. In the course of investigating the crime, lives that looked ideal from the outside are exposed as unmade beds of secrets and lies. A killing, she’d say, reveals the previously private, shrouded actions that define the way people live. The SVB saga reminds me of what my wife, a true-crime reporter, says when people ask why she finds murder stories so interesting. SUBSCRIBE to get access to Plaintext, a weekly newsletter on digital technology-who makes it and how it affects us.īut although no depositor lost money, the saga looks like a traumatic event whose consequences will linger for months, or even years.
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