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Article summary:

1. Silicon Valley Bank, the 16th largest bank in the US, collapsed due to various factors, including being affected by the Federal Reserve's continuous and large interest rate hikes.

2. The collapse of Silicon Valley Bank could have devastating effects on technology startups and innovation in Silicon Valley, as it mainly provides funds for venture capital companies in the area.

3. Economists warn that other banks could face similar risks during the rapid rate hike period and that the crisis has only just begun, potentially leading to a hard landing for the economy.

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