Silicon Valley Bank's meltdown shows that tech's elites need the government after all

Mon, 03/13/2023 - 18:55

A man stands outside Silicon Valley Bank — Certain loud voices in the tech industry rail against big government and regulations. But when the government stepped in to help Silicon Valley Bank depositors, they welcomes it with open arms.
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Many tech execs and VCs fight against government intervention in the industry.
This libertarian streak was broken as many realized the government had to step in as SVB collapsed.
The Silicon Valley Bank meltdown is teaching the tech industry that regulators are sometimes needed.

The elites of the tech world, especially some high-profile venture capitalists, traditionally decry the notion of governmental influence on Silicon Valley.