As a financier of choice for digital innovators, Silicon Valley Bank’s (SVB) recent collapse will be felt across many industries, including the consumer-facing companies that depend on technology for ecommerce operations and seamless payment systems. As consumer spending accounts for about 70% of the US economy, it’s a big deal now and may become a bigger deal later if the fallout begins to choke off investment in new digital ventures.
Some of the immediate effects being reported by outlets such as RetailWire.com and Barron’s Magazine include:
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