Silicon Valley Bank collapse was 'Lehman moment for technology,' top Goldman Sachs dealmaker says
An employee gets into his car after arriving to work to a shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. Justin Sullivan | Getty Images News | Getty Images The collapse of Silicon Valley Bank was a "Lehman moment " for the technology industry, according to a top Goldman Sachs dealmaker . Cliff Marriott, co-head of technology , media and telecoms in Europe for the investment banking division of Goldman Sachs, said that the March 10 shutdown of SVB was "pretty stressful," as the lender's clientele scrambled to figure out how they would make payroll. "That first weekend was a little bit like the Lehman moment for technology and it was really more operational for those companies," Marriott told CNBC's Arjun Kharpal. "They needed access to capital. A lot of their balances were on SVB. And, secondly, SVB was propelling and making a lot of their payments for payroll to pay their employees." F...