What’s overall health of tech industry, as SVB fallout continues?

Customers wait outside as an employee enters the Silicon Valley Bank branch in downtown San Francisco, California, U.S., March 13, 2023.

Customers wait outside as an employee enters the Silicon Valley Bank branch in downtown San Francisco, California, U.S., March 13, 2023. Photo by REUTERS/Kori Suzuki/File Photo.

The U.S. Justice Department has reportedly opened an investigation into Silicon Valley Bank after it collapsed last week. The financial institution was the darling of the tech and venture capitalist world, with more than 2500 VC firms as clients. Its failure is the latest in a series of problems for the broader tech industry, including the laying off of more than 100,000 workers in recent months. So what’s going on in Silicon Valley and what could it mean for the rest of us?

Credits

Guest:

Host:

Madeleine Brand

Producers:

Sarah Sweeney, Angie Perrin, Michell Eloy, Amy Ta, Brian Hardzinski, Bennett Purser, Marcelle Hutchins