5min chapter

Team Human cover image

Alissa Quart

Team Human

CHAPTER

The Panic of Silicon Valley Bank

A week and a half ago, Silicon Valley Bank ran out of money. The bank's owners sold like 30, 40% of their shares before making the announcement about them needing to raise more money. They didn't realize that Twitter is going to spread a lot faster than some official bank communications through publicists. Peter Thiel ended up calling all his companies saying it was probably smart to get your money from there.

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