28 min
When group chats help fuel bank runs Marketplace
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- Business
Back in the ’30s, news of bank collapses traveled slowly. But in the early hours of Silicon Valley Bank’s collapse, the news spread like wildfire through startup messaging chains on WhatsApp, Slack, Signal and Telegram. Today, how rumors and anxiety contributed to SVB’s downfall. Plus, grocery bills bum consumers out more than banking meltdowns and China’s population decline has far-reaching repercussions.
Back in the ’30s, news of bank collapses traveled slowly. But in the early hours of Silicon Valley Bank’s collapse, the news spread like wildfire through startup messaging chains on WhatsApp, Slack, Signal and Telegram. Today, how rumors and anxiety contributed to SVB’s downfall. Plus, grocery bills bum consumers out more than banking meltdowns and China’s population decline has far-reaching repercussions.
28 min