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"
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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