A year after the Silicon Valley Bank’s dramatic failure and rescue

The collapse of Silicon Valley Bank (SVB) on March 10, 2023, sent shockwaves through the tech startup world. The swift and stunning failure of SVB was initially seen as a potential “extinction-level event” for tech startups. However, a year after the bank’s dramatic failure and rescue, the industry has mostly returned to normal. Startups are still able to find places to park their money, and even SVB itself is back in business. Despite this, the collapse had lasting effects on some corners of the tech world. For instance, Circularr, a recycling startup, lost a funding deal due to the SVB crisis. The incident highlights the fragility of the tech startup ecosystem and the potential risks of banking instability.