The end of Silicon Valley
Silicon Valley is dead… Wall Street won’t save these early stage startups… Silicon Valley Bank’s “trickle-up” effect…
- I’m usually fast asleep by 11 pm… but last Friday, I wanted answers.
Silicon Valley Bank (SVB)—America’s 16th-largest bank—had gone bust earlier that day.
I wanted to find out what was really going on… not what all the major news headlines were telling me. So I reached out to a well-respected Silicon Valley venture capitalist (VC) in my network.
“How bad is the panic in startup land?” I asked.
My phone pinged two minutes later. “Bad. Sh*t’s hitting the fan.”
Since then, the Federal Deposit Insurance Corporation (FDIC) has stepped in to bail out SVB’s depositors. In other words, everyone is getting their money back.
…Visit Risk Hedge to read full story
Image Credit: Risk Hedge
