Nothing like elite entitlement on display. Having just had a very large bank failure outside a general financial crisis, which means said bank was particularly badly managed, Silicon Valley elites demand a reboot of sorts…..except for the risk part. They want a reincarnated Silicon Valley Bank to take on even more.

To give the high level story of Silicon Valley Bank, it served a particularly important role to venture capitalists by virtue of them requiring investee companies to keep all their accounts there. That allowed the moneybag to inspect what was going on at a granular level all the time. The founders and key executives were also pressured to have substantial banking relations with Silicon Valley Bank (I have no idea how successful these efforts were).

In addition (and the reasons save inertia are opaque to me) a lot of Silicon Valley tech titans also held large balances at

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