Benchmark's Bill Gurley calls Silicon Valley Bank's collapse 'a black swan event' at SXSW, and casts aside criticism of the move to secure its depositors

• Benchmark's general partner Bill Gurley defended the decision to cover SVB's depositors. 
• The venture capital veteran spoke briefly about the bank after interviewing Tim Ferriss at SXSW. 
• Gurley also deflected criticism that the venture-capital ecosystem relied too heavily on SVB. 

At South by Southwest, hundreds of attendees were waiting to hear what legendary venture capitalist Bill Gurley had to say about Silicon Valley Bank's collapse, after the implosion cast an uneasy cloud over the annual tech festival.