The failure of Silicon Valley Bank sent shockwaves throughout the tech and banking sector. The bank had played a pivotal role with venture capitalists, tech companies, and—in a lofty sense—America’s new ideas. The ripple effects were so enormous, the US government had to bail out depositors while allowing the bank itself to collapse. But what if the government was involved from the get-go? What if there was another option to financing America’s latest and greatest innovations? Read the full transcript here.
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Featuring
Scott Nover is a tech reporter at Quartz and the host of season 5 of the Quartz Obsession podcast. He is obsessed with TikTok, fantasy football, and The Real Housewives of Salt Lake City.
Nate DiCamillo is an economics reporter at Quartz. He is obsessed with swimming, full employment, and big-picture industrial policy.
Show notes
The New Deal, a massive initiative by US president Franklin D. Roosevelt that, among other things, tackled finance reform
The “Al Gore invented the internet” controversy
Saule Omarova, a Beth and Marc Goldberg Professor of Law at Cornell Law School
Credits
The Quartz Obsession is produced by Rachel Ward, with additional support from executive editor Susan Howson and platform strategist Shivank Taksali. Our theme music is by Taka Yasuzawa and Alex Suguira. This episode was recorded by Eric Wojahn at Solid Sound, in Ann Arbor, Michigan and at the G/O Media headquarters in New York.