The AtlanticThe Atlantic

The end of Silicon Valley Bank—and a Silicon Valley myth

By Derek Thompson

14 Mar 2023 · 4 min read

Editor's Note

The SVB saga is just the latest indication that the American tech industry is struggling through overlapping transitions that are creating a "scarcity mentality," writes The Atlantic's Derek Thompson.

Who killed SVB—and triggered the mini–banking crisis sweeping the United States?

You could blame the bank’s executives, who bet $80 billion on long-term bonds that bled value when interest rates went up, thus torching their portfolio with fantastic efficiency.

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