![]() ![]() The absence of SVB – that void – and coalescing leaders to fill that void is where my energy is focused and that is not a small task. SVB was truly a pillar of the community and the innovation economy. This interview has been edited for length and clarity.īefore the Bell: What’s the feeling on the ground with tech and VC leadership in Silicon Valley?Īhmad Thomas: Silicon Valley Bank has been a key part of our fabric here for four decades. The influential advocacy group is working to convene its hundreds of member companies – including Amazon, Bank of America, BlackRock, Google, Microsoft and Meta – to discuss what happens next. ![]() To find out, Before the Bell spoke with Ahmad Thomas, president and CEO of the Silicon Valley Leadership Group. The question is how that gap will be filled. There’s no doubt that the failure of Silicon Valley Bank left a large void in tech. He chaired the TechNet trade association and the Silicon Valley Leadership Group, was a director of the Federal Reserve Bank of San Francisco and served on the United States Department of Commerce’s Digital Economy Board of Advisors. In total, it was the bank for about 2,500 venture firms including Andreessen Horowitz, Sequoia Capital, Bain Capital and Insight Partners.īut the influence of SVB went beyond lending and banking – former CEO Gregory Becker sat on the boards of numerous tech advocacy groups in the Bay Area. SVB’s collapse was the largest bank failure since the 2008 financial crisis: It was the 16th largest bank in the country, holding about $342 billion in client funds and $74 billion in loans.Īt the time of its collapse, about half of all US venture-backed technology and life science firms were banking with SVB. While SVB was largely known as a regional bank to those outside of the tight-knit venture capital sphere, within certain circles it had become an integral part of the community – a bank that managed the idiosyncrasies of the tech world and helped pave the way for the Silicon Valley-based boom that has consumed much of the economy over the past three decades. It’s difficult to overstate the influence that Silicon Valley Bank had over the startup world and the ripple effect its collapse this month had on the global tech sector and banking system. ![]()
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