Here are 3 reasons to be deeply concerned about the Silicon Valley Bank collapse. (via The ReidOut Blog)
, senior reporter Elizabeth Lopatto noted another potential pitfall, predicting we’ll soon see scammers targeting “panicky” tech bros with offers to help.The federal government is looking for potential buyers to take over SVB and service its thousands of clients.,” which ought to be a helpful reminder of the potential hazards in a sale. Musk, a tech entrepreneur in his own right, would effectively control the finances of some of the country’s pre-eminent tech firms.
Musk taking over SVB appears to be a long shot. Nonetheless, I’m calling this the “Elon problem” because boosting his power over the tech industry seems like a glaringly obvious danger. And the same could be said of any number of tech bros. The truth is that any large entity that takes over SVB might have similar influence over the direction of America’s tech future, and we all have a vested interest in making sure it falls into the right hands.
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