Impact of Silicon Valley Bank’s Fall on Startup Community
Silicon Valley Bank (SVB) was the go-to bank for many startups for years. How has its fall affected the startup community? We talk to startups that have been impacted by SVB’s fall to get their stories.
One firm we spoke to moved over $600,000 out of SVB during the bank run. Alison Greenberg, CEO of Ruth Health, says Silicon Valley Bank was critical for startups like hers. She says that before the collapse, SVB did a lot to help the entrepreneurial community.
Wedbush Dan Ives thinks there’ll be tighter financing for startups. He and his company have been guiding clients through recent events. Ives thinks someone needs to fill the void that Silicon Valley Bank left, but that’s likely not going to happen.