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Why did Silicon Valley Bank collapse?

The UK government steps in to avert a banking crisis, while Israel sees unprecedented protests over judicial reform.

Over the weekend, Silicon Valley Bank, a lender to some of the biggest names in the technology world, became the largest bank to fail since the 2008 financial crisis. Regulators scrambled to contain the fallout from the collapse as share prices plummeted, with HSBC stepping in to buy the bank for £1 in a rescue deal.

Ido Vock is joined by the New Statesman’s associate business editor Emma Haslett and Spotlight editor Alona Ferber to discuss the roots of the crisis, the hypocrisy of libertarian tech bros, and the wider risks.

Next, the team turn to Israel, where Benjamin Netanyahu’s proposals to reform the judiciary have been met in Tel Aviv with some of the biggest protests in the city’s history. They discuss whether Israel is moving towards dictatorship, the prospect of rebellion in the army, and rising violence in the West Bank.

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Read more:        

Will Dunn asks: who killed Silicon Valley Bank?

Emma Haslett writes that the failure of Silicon Valley Bank unmasks the hypocrisy of libertarian tech bros.

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Select and enter your email address Your weekly guide to the best writing on ideas, politics, books and culture every Saturday. The best way to sign up for The Saturday Read is via saturdayread.substack.com The New Statesman's quick and essential guide to the news and politics of the day. The best way to sign up for Morning Call is via morningcall.substack.com Our Thursday ideas newsletter, delving into philosophy, criticism, and intellectual history. The best way to sign up for The Salvo is via thesalvo.substack.com Stay up to date with NS events, subscription offers & updates. Weekly analysis of the shift to a new economy from the New Statesman's Spotlight on Policy team. The best way to sign up for The Green Transition is via spotlightonpolicy.substack.com
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