The way the Silicon Valley collapse is being felt — and not being felt — here in Austin
By Greg Kahn
Founder & CEO, Emerging Tech Exchange
March 16, 2023
Spoke with Jason Abbruzzese of NBC News at #SXSW about the way the Silicon Valley collapse is being felt — and not being felt — here in Austin:
“You have two very different camps here.” That’s what I told NBC News correspondent Jason Abbruzzese when he asked for my take at this year’s SxSW. He caught up with me at the JW Marriott. It was right after the news broke Friday about the collapse of Silicon Valley Bank.
I expanded on that reaction in a conversation with WSJ CMO Today newsletter editor Katie Deighton: “Half of the folks that are here are just super happy and very pleased to be here, and the other half are dealing with SVB.”
The mood was pretty surreal — I’m factoring in the gathering’s usual craziness —for the closing days of SxSW. For the most part, after attending a whirlwind of major business/tech events this year — from CES to Davos — SxSW was something of a break, even with the market-shaking news.
SxSW is such a terrific event to gather investors, operators and entrepreneurs who strive to make a difference in the world.
These are true change makers.
I hosted several dinners in Austin this time out. Before I get into the details, I have to shout out Jason Wagenheim of BDG; Beverly Rider⚡️of TONOMUS; Sara Fischer of Axios for the insightful discussions. Those on stage discussions continued after the event thanks to the attendance and thoughts by incredible pioneers from Paramount, Northwell Health, Red Bull, P&G, Vayner, Coinbase, Spotify, Warner Music, LEGO, and so many other companies who joined us.
I’m extremely grateful for the Austin community and the change-makers who support GK Digital Ventures and Emerging Tech Exchange.
