Industry Analyst & Strategist

BREAKING: Silicon Valley Bank Fails

From The New York Times, Silicon Valley Bank Fails After Run by Venture Capital Customers, “If there is one enduring axiom in banking, it is this: Don’t run out of money.” Wow! SVB has been a darling of tech startups for decades! More from The Mercury News, Silicon Valley Bank collapses after failing to raise capital, “When interest rates were near zero, banks loaded up on long-dated, low-risk Treasuries. But as the Fed raises interest rates to fight inflation, the value of those assets has fallen, leaving banks sitting on unrealized losses.”

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