Bankruptcy is now official Silicon Valley Bank, commercial bank located at Casa Particular in Santa Clara, California, as well as a reference point for the multitude of companies, start-ups and projects set off in the hills of the famous Silicon Valley.
A failure on all fronts and whose impact is still perceptible not only in theHigh technology (extremely important for the area), but also for the fashion system: this is confirmed by an analysis of The Business of Fashion, in which the significant stock market losses di StitchFix ed Etsy independent platforms dedicated to artisanal fashion and more, by Universal standard, an inclusive clothing brand, and a sustainable footwear brand ThousandFell.
Although these realities, in fact, did not collaborate directly with the SVB, the payment company to whom they had entrusted collaborated face to face with the Californian bank; for this same reason, many players in the fashion scene are affected by the bankruptcy.
According to analysts, the bankruptcy of the SVB is mainly due to growth in the rate of inflation and its financial strategy: By partnering with numerous start-ups and emerging companies, the bank has enjoyed a incredible growth in the early stages of its business and invested his deposits in a number of bonds, now worthless due to rising inflation and interest rates.
An important background which, in the long run, proved fatal for SVB, but not only: the universe of start-ups that used to look at it as a point of reference has now lost an essential certainty, and is in disarray; among the possible solutions for businesses, now, there is self-financing, a system which, however, will only contribute to closing the market and making it increasingly elitist.
