{"id":9335,"date":"2023-03-18T16:37:29","date_gmt":"2023-03-18T15:37:29","guid":{"rendered":"http:\/\/costops.com\/index.php\/2023\/03\/18\/the-svb-debacle-has-exposed-the-hypocrisy-of-silicon-valley-john-naughton\/"},"modified":"2023-03-18T16:37:29","modified_gmt":"2023-03-18T15:37:29","slug":"the-svb-debacle-has-exposed-the-hypocrisy-of-silicon-valley-john-naughton","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2023\/03\/18\/the-svb-debacle-has-exposed-the-hypocrisy-of-silicon-valley-john-naughton\/","title":{"rendered":"The SVB debacle has exposed the hypocrisy of Silicon Valley | John Naughton"},"content":{"rendered":"<p>US tech innovators have a culture of regarding government as an innovation-blocking nuisance. But when Silicon Valley Bank collapsed, investors screamed for state protection<\/p>\n<p>So one day Silicon Valley Bank (SVB) was a bank, and then the next day it was a smoking hulk that looked as though it might bring down a whole segment of the US banking sector. The US government, which is widely regarded by the denizens of Silicon Valley as a lumbering, obsolescent colossus, then magically turned on a dime, ensuring that no depositors would lose even a cent. And over on this side of the pond, regulators arranged that HSBC, another lumbering colossus, would buy the UK subsidiary of SVB <a href=\"https:\/\/www.theguardian.com\/business\/2023\/mar\/13\/hsbc-buy-silicon-valley-banks-uk-tech-startups\">for the princely sum of \u00a31<\/a>.<\/p>\n<p>Panic over, then? We\u2019ll see. In the meantime it\u2019s worth taking a more sardonic look at what went on.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/commentisfree\/2023\/mar\/18\/the-svb-debacle-has-exposed-the-hypocrisy-of-silicon-valley-bank\">Continue reading&#8230;<\/a><br \/>\n<img src=\"https:\/\/i.guim.co.uk\/img\/media\/cf6aab4b3f18bbf178dcf17e745aab3876784a70\/0_109_4000_2401\/master\/4000.jpg?width=140&amp;quality=85&amp;auto=format&amp;fit=max&amp;s=ed781b4024ccd178919237d5da3a37be\" title=\"The SVB debacle has exposed the hypocrisy of Silicon Valley | John Naughton\" \/>US tech innovators have a culture of regarding government as an innovation-blocking nuisance. But when Silicon Valley Bank collapsed, investors screamed for state protection<br \/>\nSo one day Silicon Valley Bank (SVB) was a bank, and then the next day it was a smoking hulk that looked as though it might bring down a whole segment of the US banking sector. The US government, which is widely regarded by the denizens of Silicon Valley as a lumbering, obsolescent colossus, then magically turned on a dime, ensuring that no depositors would lose even a cent. And over on this side of the pond, regulators arranged that HSBC, another lumbering colossus, would buy the UK subsidiary of SVB for the princely sum of \u00a31.<br \/>\nPanic over, then? We\u2019ll see. In the meantime it\u2019s worth taking a more sardonic look at what went on. Continue reading&#8230;Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US tech innovators have a culture of regarding government as an innovation-blocking nuisance. But when Silicon Valley Bank collapsed, investors screamed for state protection So one day Silicon Valley Bank (SVB) was a bank, and then the next day it was a smoking hulk that looked as though it might bring down a whole segment &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"http:\/\/costops.com\/index.php\/2023\/03\/18\/the-svb-debacle-has-exposed-the-hypocrisy-of-silicon-valley-john-naughton\/\"> <span class=\"screen-reader-text\">The SVB debacle has exposed the hypocrisy of Silicon Valley | John Naughton<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":0,"featured_media":9336,"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\/9335"}],"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=9335"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/9335\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/9336"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=9335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=9335"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=9335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}