Silicon Valley is getting a reset -- some could also call it a comeuppance -- after the past 12 to 13 years of insane growth, often irresponsible spending, hubris and swagger. Read More...
TechCrunch
Silicon Valley Bank: Here’s a timeline of the bank’s failure
What a surreal stretch for tech. Silicon Valley Bank’s collapse, and its new life under the ownership of regulators, has certainly warranted its fair share of hot takes, real policy implications, and questions about the future of where startups keep their money. Instead of tossing you a half-baked take, as you can go to Twitter.com for those, I think the best way to understand the SVB story is to read it day by day. Shares of Silicon Valley Bank began tanking sharply Thursday in the wake of the company’s announcement that it is raising additional capital by selling stock, taking a charge to roll over an asset portfolio to higher-yielding assets and extending its term-borrowing capacity.
