https://techcrunch.com/2023/03/09/silicon-valley-bank-shoots-self-in-foot/ Startup people- hearing any imminent impacts?
Startups are being advised to withdraw all of money out of SVB. They have to do it before its too late
Heard their systems are all down
Can someone eli5 why this small bank is important? I’m not too familiar in the startup space
What startups use Silicon Valley Bank? Do big ones like Stripe, Databricks, etc use them? This is concerning.
🤔 IPO’s are goner?
This is very very bad! Many VCs and startups park their money there.
Btw company’s like databricks, Stripe, etc will combine or be sold bigger companies.
Do you think billion dollar companies will park all their money in one bank? I would assume they have money in Jp Morgan, boa etc
Yes but what to true value of these companies at. Because they might overinflated by a lot.
Many point out lots of startups park $$ at SVB. But why? What does it offer for startups better than other banks? Because it’s called SV and headquartered in Santa Clara? If that’s the case, top US bank should be named “One Percenters”
There must be a reason. More startup friendly policies or whatnot. It is more strict/difficult with traditional banks.
Money printer will go brrrr.
As per their investor report, 44% of 2021 IPO companies has primary account there
LOL startups will probably start to meltdown and companies will start to buy them up.
More like go bankrupt like in 2000. If they were worth buying they wouldn't be in trouble
Yes, but this landing looks like a long and hard one because of the massive impact of decoupling of USA-China (which is needed to happen)