Venture Capital
Since the fall of Silicon Valley Bank, experts and market watchers have openly worried that the collapse of that institution, along with Signature Bank and Silvergate Bank, could lead to a contagion that would spread to the rest of the financial sector. But the CEO of a top private equity group doesn’t think that will happen because of the specific tech-based frenzy around SVB. “This crisis was caused by people on iPhones and other devices, hearing on social media that some bank might be in trouble,” Blackstone CEO Steve Schwarzman said in an interview with Bloomberg in Tokyo on Thursday.