And why the worst bank failure since 2008 happened in the first place. : Unless you happened to take a digital detox this weekend, you probably witnessed a lot of online commotion regarding tech startups, the banking system, and the institution formerly known as Silicon Valley Bank. It all got heated on Friday morning, when the regional bank, a fixture of the Silicon Valley startup ecosystem, was taken over by the federal government after weeklong money jitters spurred a crippling bank run.