Book contents
- Silicon Valley Bank
- Silicon Valley Bank
- Copyright page
- Contents
- Figures
- Tables
- 1 The Bank for the Innovation Economy
- 2 The Origin of the Idea
- 3 Bank Atrophy and Outliers
- 4 The Stanford Professor and Two Bankers
- 5 Be Different from the Beginning
- 6 Against All Odds
- 7 Convincing the Banking Regulators
- 8 SVB Tech Lending and the Birth of Venture Debts
- 9 Leveraging the VC Relationships for Expansion
- 10 Into the Premature Future and Banks’ Almost Embrace of ESG
- 11 SVB’s Sudden Death and Lessons Learned from Banking Innovators
1 - The Bank for the Innovation Economy
Published online by Cambridge University Press: 08 February 2024
- Silicon Valley Bank
- Silicon Valley Bank
- Copyright page
- Contents
- Figures
- Tables
- 1 The Bank for the Innovation Economy
- 2 The Origin of the Idea
- 3 Bank Atrophy and Outliers
- 4 The Stanford Professor and Two Bankers
- 5 Be Different from the Beginning
- 6 Against All Odds
- 7 Convincing the Banking Regulators
- 8 SVB Tech Lending and the Birth of Venture Debts
- 9 Leveraging the VC Relationships for Expansion
- 10 Into the Premature Future and Banks’ Almost Embrace of ESG
- 11 SVB’s Sudden Death and Lessons Learned from Banking Innovators
Summary
Banks know that customers hate them. That is the headline from a CNN Business report from a survey of banking executives.1 The financial crisis of 2008 engraved stains on banks that more than 80 percent of managers at banks, brokerages, and other financial services firms believe continue to have a negative impact on their companies. JPMorgan Chase, Bank of America, and Citigroup saw their biggest fall in reputation. Their names stayed in the headlines for settlements with the regulators reaching billions. Regulators imposed hefty fines against banks in 2021: Capital One, $390 million; Deutsche Bank, $130 million; Julius Baer, $79 million; Apple Bank for Savings, $12.5 million.2 The total fines against big banks in the United States in 2020 escalated to more than $11 billion, including the largest single fine issued against Goldman Sachs ($3.9 billion) and the second largest against Wells Fargo ($3 billion).3
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- Information
- Silicon Valley BankThe Rise and Fall of a Community Bank for Tech, pp. 1 - 29Publisher: Cambridge University PressPrint publication year: 2024