ARTICLE · 13 APRIL 2023

To The Point: Technology & Digitalisation | March 2023

Schoenherr (Schönherr Rechtsanwälte)

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Schoenherr (Schönherr Rechtsanwälte)

Schoenherr is a leading European full-service law firm with a strong footprint across Central and...

Welcome to the March edition of Schoenherr's to the point: technology & digitalisation newsletter (read online)! We are excited to present a selection of legal developments in the area of technology & digitalisation...

AustriaCorporate/Commercial Law

Gudrun Irsa-Klingspiegl

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Welcome to the March edition of Schoenherr's to the point: technology & digitalisation newsletter (read online)!

We are excited to present a selection of legal developments in the area of technology & digitalisation in the wider CEE region.

Editorial

Is the party over?

Forty years ago, on 17 October 1983 – just a few days after I was born – the Silicon Valley Bank (SVB) launched. At a time when start-up companies were still a novel concept, SVB became an early supporter of the local tech community. Together with it, SVB grew and expanded internationally until 10 March 2023, when it collapsed following a bank run. But what happened? In short: rising interest rates and increasing withdrawals forced SVB to sell its securities, realising a USD 1.8bln loss. Reports on these losses increased the withdrawals, fuelled by investors at several venture capital firms urging their portfolio companies to withdraw deposits from SVG. By the close of business that

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To The Point: Technology & Digitalisation | March 2023

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