A lot of VCs raised too many funds and you might have seen founders fund just took the size of their fund. Some companies were being valued as series B companies at $100 million before they had a product that worked. So now you're plowing money into a product that's not really, doesn't have what we call market pull in the industry,. And so that is another very dangerous thing. That's what we've been sorting out the last year.
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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