What Happened to Silicon Valley Bank?

Freeburg: Silicon Valley Bank's CEO published a letter to shareholders announcing that the bank was rebalancing its balance sheet by selling tens of billions of dollars worth of mostly US securities. Then they announced they would raise some money and sell some shares in Silicon Valley Bank. Freeburg: A small number of venture capitalists gave advice to say, hey, we should support Silicon Valley Bank but it turned out to be really bad advice. And then every venture capitalist started telling their founders to get their money out of S.V.B., he says.