SVB didn't have to do this. They were trying to do the right thing. And that did not go unpunished. Maybe they should have just held onto these treasuries. Or this will be really simple. They just made a bad trade and a panic started. This exists as a concept in the world because it is so unique. You really don't get to witness things like this happen. But I would say for Silicon Valley, a black swan will be something you haven't seen before.
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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