Silicon Valley Bank Bust Ripples Through Retail Industry [Forbes]
Bed Bath & Beyond Inc. (BBBY)
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Source: Forbes
ForbesMoneyInvestingSilicon Valley Bank Bust Ripples Through Retail IndustryGreg PetroContributorOpinions expressed by Forbes Contributors are their own.FollowingMar 24, 2023,10:23am EDT|Press play to listen to this article!Getty ImagesAs a financier of choice for digital innovators, Silicon Valley Bank’s (SVB) recent collapse will be felt across many industries, including the consumer-facing companies that depend on technology for ecommerce operations and seamless payment systems. As consumer spending accounts for about 70% of the US economy, it’s a big deal now and may become a bigger deal later if the fallout begins to choke off investment in new digital ventures.Some of the immediate effects being reported by outlets such asRetailWire.comBarron’s MagazineFor several years now, retailers have been making the pilgrimage to Silicon Valley looking for capital and early access to game-changing technology. In 2017, Walmart, with its deep pockets and long time horizon, launchedStore No.8
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