Silicon Valley Bank, the 16th largest bank in the U.S., collapsed on Friday, marking the worst bank failure since the fall of Washington Mutual during the Great Recession in 2008.
on Friday, marking the worst U.S. financial institution failure in nearly 15 years.
"This is an extinction-level event for startups," Y Combinator CEO Garry Tan said. "I literally have been hearing from hundreds of our founders asking for help on how they can get through this. They are asking, ‘Do I have to furlough my workers?’"A customer stands outside of a shuttered Silicon Valley Bank headquarters on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S.
People line up outside of the shuttered Silicon Valley Bank headquarters on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal Depos
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Silicon Valley Bank spooks Silicon ValleySilicon Valley Bank, long one of the most popular financial institutions among tech and life sciences startups, saw its shares fall more than 60% on Thursday, wiping out a whopping $9.4 billion in market value.
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Column: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours'Based on the information that has been made public, the bank unwisely put its eggs in one basket by taking deposits from an insular group of depositors: venture-funded startups.' Column by hiltzikm:
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Silicon Valley Bank Rocked, Bank Shares PlummetA financial free fall is happening right now in the Bay Area. One of the most trusted local banks is in trouble and now there’s growing concern that some companies are withdrawing their funds, which could spell doom.
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Bank stocks plunge after implosions at Silicon Valley Bank and SilvergateBank stocks plunge after implosions at Silicon Valley Bank and Silvergate Capital send 'shock waves' through the sector
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Silicon Valley Bank drops another 45%, weighing on the bank sector againShares of SVB Financial Group, known as Silicon Valley Bank, tumbled for a second day Friday and weighed on the whole banking sector again.
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Silicon Valley Bank drops another 60%, weighs on the bank sector againShares of SVB Financial Group, known as Silicon Valley Bank, tumbled for a second day Friday and weighed on the whole banking sector again.
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