The 2nd Biggest Bank Failure In American History: Silicon Valley Bank Is No More
The Breakdown
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VCs and VC Influencers Trying to Get Money Out of Silicon Valley Bank
Silicon Valley Bank has been dealing with challenges posed by an impaired customer base. When they reported this, alongside the fact that they were raising more money, it totally spooked the market. Some VCs like Union Square Ventures started advising their companies to try to get money out of Silicon Valley Bank. This wasn't helped by genuinely some of the most ill-advised comments from CEO Mark Suster.
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