Anne Glover, CEO and co-founder of Amadeus Capital, said Friday that the SVB crisis was caused by 'utterly irresponsible' practices by Silicon Valley Bank.
Anne Glover, CEO and co-founder of Amadeus Capital, said that the SVB crisis was caused by "utterly irresponsible" practices by Silicon Valley Bank and its management.
"They didn't hedge the interest rate," Glover said. "This is really basic banking, it's nothing to do with the tech community. The tech community was impacted."was the result of a crisis in banking rather than technology, according to a top venture capitalist. SVB was shut down and taken over by the U.S. government after a slew of startups and venture capitalists withdrew their money en masse amid fears over its financial health.
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