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SVB Collapse Explained, D2C Brands That May Fail, And Suli's Next Venture
My First Million
What Happened to Silicon Valley Bank?
Silicon Valley bank is the 19th largest bank in America. It's usually used by Silicon Valley based startups and other people who relate it to startups. When VCs were going crazy and startups were as a huge amount of money, they used Silicon Valley banks. They took on tens of billions of dollars of new bank accounts. And so what they did was they bought long term bonds that yielded a rate of like 1.5%. Then Fed increases the rate to three and 4%. The customers with new cash are burning tons of money and lowering their deposits or their savings and checking accounts.
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