Tech industry dodges a financial bullet after SVB crash

Silicon Valley Bank (SVB) in Santa Clara, CA, billed itself as “the financial partner of the innovation economy” and had more than $342 billion in deposits — including money from many influential venture capitalists, start-ups and tech firms.That was before last week happened, when a sudden run on the bank opened the door to the prospect of a larger meltdown in the financial system. After a weekend scramble, the Biden Administration, the US Treasury, the Federal Reserve, and t