
Silicon Valley’s History of Fumbles with Capitalism
Notes from America with Kai Wright
The Stabilizing Role of Banks and the Failure of Silicon Valley
This chapter examines the historical relationship between banks and entrepreneurs in California, exploring their stabilizing role throughout turbulent times like the Gold Rush and the Great Depression. It also discusses the recent collapse in Silicon Valley and suggests that it is failing to fulfill its historical role of absorbing and repackaging excess capital.
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