Silicon Valley Bank got a ton of deposits in very short order over the last couple of years because all of their clients were just getting huge. SBB kind of didn't have a place to put it, right? You need to take some risk with your money to make money to continue running your businesses at a bank. All their clients were flush with cash and didn't really need credit so they ended up taking a lot of duration risk.
Bloomberg Opinion Columnist Matt Levine discusses his piece Startup Bank Had a Startup Bank Run. Bloomberg Intelligence Senior Analyst for US Regional Banks Herman Chan and Anna Kooi, National Financial Services Leader at Wipfli, talk about the Silicon Valley Bank collapse and contagion concerns. Mary Buckley, Interim CEO of IDA Ireland, shares her thoughts on the global business health for Ireland. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Technology Reporter Austin Carr provide the details of Austin's Businessweek Magazine story Uber for Trucks? Why Freight’s Future Is More Than Just Apps. And we Drive to the Close with Liz Young, Head of Investment Strategy at SoFi.
Hosts: Carol Massar and Katie Greifeld. Producer: Paul Brennan.
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