My First Million SVB Collapse Explained, D2C Brands That May Fail, And Suli's Next Venture
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Mar 14, 2023 Suleman "Suli" Ali, a finance and venture capital expert, joins the conversation to dissect the Silicon Valley Bank collapse and its ripple effects on the financial world. He dives into the struggles of D2C brands like Allbirds, revealing why some might be on the brink of failure. The discussion also touches on the concept of 'reverse Robinhood' and the importance of pursuing meaningful ventures amid financial chaos. Plus, there’s an intriguing job opportunity waiting at the end!
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SVB Bank Run
- Suli Ali witnessed the SVB bank run firsthand at a tech event.
- Attendees frantically wired out money, with one person transferring $70 million to a personal account.
Speed of the Run
- The speed of the SVB bank run was accelerated by Silicon Valley's interconnected nature and viral communication.
- The digital age enabled rapid online transfers, causing a one-day financial tsunami.
Why SVB?
- Many startups used SVB due to VC relationships, event sponsorships, and venture debt requirements.
- Suli Ali even received NBA Finals tickets as a perk, highlighting SVB's appeal.