Levi: "I am terrified that this is a black swan contagion like effect" He says Silicon Valley banks are already dealing with the mess of startups during this correction. If it becomes an acute contagion, other venture funds don't wanna solve their problems and there's a bunch of problems and people get laid off,. This could have cascading effects," he adds.
Jason reacts to Silicon Valley Bank being shut down by the FDIC and breaks down what this means for founders and VCs.
(0:00) Breaking down the SVB situation
(4:28) FDIC press release
(7:41) What Jason hopes will happen
(10:16) Defcon 1
(12:39) Thoughts on emergency funding
(15:46) How does the SVB situation affect early-stage fundraising
(26:59) SVB sells their securities
(29:10) USV email to founders
(31:06) SVB CEO addresses the situation
(33:07) Bill Ackman’s response
(34:31)Mark Suster’s response
(35:52) Audience questions
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