Financial TimesFinancial Times

How Silicon Valley learnt to love the government

By George Hammond and Elaine Moore

17 Mar 2023 · 7 min read

Editor's Note

The FT explores the fallout from the failure of Silicon Valley Bank, the potential for increased regulation, and the broader implications for the tech industry.

Late last Saturday night, Jason Calacanis, a prominent internet entrepreneur and investor, hit the caps button on his keyboard and tweeted out a warning about the collapse of Silicon Valley Bank.

“YOU SHOULD BE ABSOLUTELY TERRIFIED RIGHT NOW — THAT IS THE PROPER REACTION TO A BANK RUN AND CONTAGION,” he wrote. “THIS WILL SPIRAL INTO CHAOS”.

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