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Austin tech bro’s newsletter may have triggered collapse of Silicon Valley Bank, reports say

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The bank's meltdown has left some San Antonio tech companies unable to access deposits. Texas Austin SanAntonio SATX SVBCollapse SiliconValleyBank SXSW

This week, President Joe Biden said that those with accounts in SVB would have access to that money starting Monday. Markets appear to have calmed on Tuesday following the prior day's sell-off.

Even so, Jason Schenker — president of the Futurist Institute and Austin-based Prestige Economics — warned tech insiders during a Saturday session at SXSW that the bank's collapse might not be the last.

 

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