In a previous post, I explained what platform risk is. In short, it is the risk associated with relying on any 3rd party.

It is a bit long there, and over the past few days (middle of March 2023), we've seen a good example of what it can be with the fallout of Silicon Valley Bank (SVB).

Banks are supposed to be a safe place to put your money in. Especially with SVB being one of the biggest US Banks. You could assume your funds were safe there.

But, it failed in a spectacular way.

Let see how it goes over the next few days / months or years. It may be saved in some ways. Hopefully everyone involved recover all of their money.

In all cases, it is a good reminder that even the biggest / (supposed to be) safest entities can also be risky.

Consider your providers carefully, own & control as much as you can and be sure to understand the risks introduced in your business.