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EMERGENCY POD: $SVIB implodes, contagion risk, advice for founders, and what’s next? | E1696
This Week in Startups
Silicon Valley Bank
Nick Borsuk: I think there's a majority chance this weekend somebody will buy Silicon Valley Bank. He says if your startup can only take out 250 and you have 10, 20, $100 million in that bank account, you're not going to make payroll. There are many companies out there with tens of thousands of employees who are at risk of not making payroll," he says. "I got an email from a fund today saying we had X millions of dollars in Silicon Valley Bank"
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