Silicon Valley Is Losing Its Luster
This is an edition of The Atlantic Daily, a newsletter that guides you through the biggest stories of the day, helps you discover new ideas, and recommends the best in culture. Sign up for it here.
Last Friday, California regulators shut down Silicon Valley Bank—a prominent lender for start-ups and venture-capital firms—marking the largest American bank failure since the 2008 financial crisis. Two days later, the cryptocurrency-focused, New York–based Signature Bank was also seized by regulators. What happens next for the U.S. economy remains to be seen. But what is becoming apparent is that the promise of Silicon Valley is beginning to lose its luster.
First, here are three new stories from The Atlantic:
You’re reading a preview, subscribe to read more.
Start your free 30 days