Introduction

Silicon Valley Bank was shut down last week by US regulators who seized its assets. It's the biggest US bank failure since the financial crisis of 2008, shortly after authorities also took over Signature Bank in New York. Both S.V.B. and Signature specialize in a sector whose asset values come under pressure in a rising interest rate environment. But what happened? What are the implications for Canada? And where do tech bros of California and Canada now go for financing? Peter joins us for his insight.