The Perfect Storm: Understanding the Circumstances Behind Silicon Valley Bank’s Collapse
Let’s start with who Silicon Valley Bank is. They were the 16th largest bank in the U.S. Over the past 40 some years, they had become the go-to bank for tech start-up companies. Since many of these tech companies are so young with little banking history, it’s typically hard for them to get funding and debt financing for their ventures. That’s where Silicon Valley Bank steps in. They would provide these venture companies with the funding they needed in order to get going.