The Latest Breaking News from Silicon Valley

San Francisco (AFP) - A San Francisco jury on Monday ordered Tesla to pay a Black former employee nearly $3.2 million for turning a blind eye to racism at the electric car maker's Silicon Valley plant.

It was designed to be a haven for techies and billionaires. Instead, ten years on, it’s a “9,000-foot monument to the hubris of Silicon Valley’s big ideas.”

Republican lawmakers accused top bank regulators of dawdling as Silicon Valley Bank hurtled toward the second-largest bank failure in U.S. history and questioned whether tougher regulations would have made a difference

Michael Barr, the nation’s top banking regulator, said Silicon Valley Bank was warned in the fall of 2021 that its interest rate model was not ‘aligned with reality.’

A top federal regulator called the failure of Silicon Valley Bank a "textbook case of bank mismanagement" during a Senate hearing about what led to its spectacular collapse

The collapse of Silicon Valley Bank has sounded an alarm for the entire banking sector as a VC Tech still banks there 

After 20 years of what appeared to be unstoppable growth, America’s tech industry has spent the past year underperforming the rest of the economy. Product failures in new industries like virtual reality and cryptocurrency, layoffs across the board, lower stock prices, and the failure of Silicon Valley Bank create a…

The nation’s top financial regulator is asserting that Silicon Valley Bank’s own management was largely to blame for the bank’s failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse

It may not be all bad news.