{"id":9283,"date":"2023-03-14T12:38:14","date_gmt":"2023-03-14T11:38:14","guid":{"rendered":"http:\/\/costops.com\/index.php\/2023\/03\/14\/techscape-how-silicon-valley-bank-uk-was-saved\/"},"modified":"2023-03-14T12:38:14","modified_gmt":"2023-03-14T11:38:14","slug":"techscape-how-silicon-valley-bank-uk-was-saved","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2023\/03\/14\/techscape-how-silicon-valley-bank-uk-was-saved\/","title":{"rendered":"TechScape: How Silicon Valley Bank UK was saved"},"content":{"rendered":"<p>In this week\u2019s newsletter: While its quick slip into financial hardship has left American bankers reeling, its UK division is surprisingly fine. But the tech sector isn\u2019t out of trouble yet<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/ablink.editorial.theguardian.com\/ss\/c\/TBl-lE0k4WbTlFRn6v-lQXxTpTslqnvUsR2ofAkC00vqkHXqakTSxrykj9mrdACFo11SPMvm9ONAti2JcHBqUgcduObToxycReEYHcTAh6nov_u_7l464yKkl5CZpPeg-CqG3ueb-8UiDZ4dOkhK_xu6BZysaGtGOA-w2_0KTqLsMBLqZrcGelEg-7T5C6DRfMSsX1Wcyrv2RlHjbzIGx0ePxMD7meIXmznkqCFxtrflV_YvxDV9cqXgzdq7c2-9qYTW0MyIMCG7p9sc7wIKCg\/3ha\/N7031ZxvS8Cv2AmB8PHP-g\/h27\/towm4HqYM1UtQe3kzAkaoAWT_zh9HyZuTvPyJCk6JeE\">Don\u2019t get TechScape delivered to your inbox? Sign up for the full article here<\/a><\/strong><\/li>\n<\/ul>\n<p>Last week, if you had heard of Silicon Valley Bank UK, you probably worked in tech. The bank had only been spun out in to a separate entity last summer, after its few thousand corporate customers pushed it over a regulatory threshold, and while SVB had grown to almost hold \u00a310bn of deposits, with \u00a35.5bn of outstanding loans, it was very much a specialist player.<\/p>\n<p>The bank\u2019s selling point was that it understood the needs of the \u201cinnovation economy\u201d, something that high street banks frequently failed to acknowledge. A startup might have zero revenue, yet hold \u00a35m in the bank and have 10 employees, a profile fundamentally different from a typical small business. As a result, trying to get something as simple as a corporate credit card could be a surprising hassle, and when SVB arrived on the UK scene, it was enthusiastically adopted by founders and venture capitalists alike.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/technology\/2023\/mar\/14\/techscape-silicon-valley-bank-uk\">Continue reading&#8230;<\/a><br \/>\n<img src=\"https:\/\/i.guim.co.uk\/img\/media\/8d126e18bc5efe420783e72d6ecff21380437a10\/0_156_4000_2400\/master\/4000.jpg?width=140&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=dcb30af89372c18c0b01271e500658ad\" title=\"TechScape: How Silicon Valley Bank UK was saved\" \/>In this week\u2019s newsletter: While its quick slip into financial hardship has left American bankers reeling, its UK division is surprisingly fine. But the tech sector isn\u2019t out of trouble yet<br \/>\nDon\u2019t get TechScape delivered to your inbox? Sign up for the full article here<br \/>\nLast week, if you had heard of Silicon Valley Bank UK, you probably worked in tech. The bank had only been spun out in to a separate entity last summer, after its few thousand corporate customers pushed it over a regulatory threshold, and while SVB had grown to almost hold \u00a310bn of deposits, with \u00a35.5bn of outstanding loans, it was very much a specialist player.<br \/>\nThe bank\u2019s selling point was that it understood the needs of the \u201cinnovation economy\u201d, something that high street banks frequently failed to acknowledge. A startup might have zero revenue, yet hold \u00a35m in the bank and have 10 employees, a profile fundamentally different from a typical small business. As a result, trying to get something as simple as a corporate credit card could be a surprising hassle, and when SVB arrived on the UK scene, it was enthusiastically adopted by founders and venture capitalists alike. Continue reading&#8230;Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this week\u2019s newsletter: While its quick slip into financial hardship has left American bankers reeling, its UK division is surprisingly fine. But the tech sector isn\u2019t out of trouble yet Don\u2019t get TechScape delivered to your inbox? Sign up for the full article here Last week, if you had heard of Silicon Valley Bank &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"http:\/\/costops.com\/index.php\/2023\/03\/14\/techscape-how-silicon-valley-bank-uk-was-saved\/\"> <span class=\"screen-reader-text\">TechScape: How Silicon Valley Bank UK was saved<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":0,"featured_media":9284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/9283"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=9283"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/9283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/9284"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=9283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=9283"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=9283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}