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EMERGENCY POD: $SVIB implodes, contagion risk, advice for founders, and what’s next? | E1696
This Week in Startups
Is the Government Backstopping Silicon Valley Bank?
Silicon Valley Bank has a very good reputation and an incredible group of customers. It is the bank of record, not just for founders in Silicon Valley but venture capitalists who invest in them. A large bank with a big balance sheet buys it and makes sure that everybody who has cash in there has access to it. Or two, the government comes in and back stops us; now that's quite controversial.
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