Medearis and his two cofounders of Silicon Valley Bank wished to tackle the antiquated banking practices that led to a massive reduction in the number of banks, the disappearance of community banks, and the mergers of Big Banks. Bank regulations and culture prevent banks from embracing tech startups and entrepreneurs as lending clients. The SVB founders knew about Bank of America’s abandonment of its early tech lending, missed opportunities, and bank failures to capture tech startups and entrepreneurs. The old, conservative banking environment during the early days of the tech sector presented the founders with an opportunity.

The Bank of England and its governor, Montagu Norman, who had a decisive influence on monetary reconstruction after the First World War considered the new Austrian central bank too accommodating of Viennese banks, which clung to a prewar business strategy no longer appropriate to the economic environment. The fraught relationship between the Bank of England and the Austrian National Bank limited Austrian access to the London capital market. Thus, much-needed long-term capital for restructuring and modernizing of the Austrian economy was not available in the quantities needed, only short-term deposits that were not rolled-over after the outbreak of the financial crisis in 1931. Austrian National Bank President Reisch was replaced in 1932 by Viktor Kienböck, a former minister of finance who then masterminded Austrian economic policy until the German invasion in 1938. In accordance with the League of Nations, which guaranteed a second international bond of Austria in 1932, Kienböck adhered to the orthodox economic policy paradigm, rigorously defending the currency in the face of growing overvaluation. As a result, Austria’s economy shrank, and by 1937 its GDP stood 14% below its level of 1929.