As the year continues to see turbulence within the tech sector, witnessing more mass layoffs and macroeconomic pressures, one of the biggest blows came last week with the collapse of Silicon Valley Bank (SVB) – a downfall that many experts have called the largest bank failure since 2008, and the second-largest in US history.
Today, good news has arrived as US regulators and the UK government reassure depositors that they will be able to access their funds, but the ripples of this crash are likely to stir tech-wide tremors in the coming months, as well as concerns for businesses in the partnerships space.
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