Discussion

• @htaneja Hemant Taneja on x

  Several VC leaders met today to discuss the aftermath of SVB's downfall. This is a joint statement from all of us. @Accel @altcap @BCapitalGroup @generalcatalyst @eladgil @GreylockVC @khoslaventures @kleinerperkins @lightspeedvp @MayfieldFund @Redpoint @RibbitCapital @upfrontvc h…

• @deitaone @deitaone on x

  $SIVB - U.S. SENATOR MENENDEZ: NOT READY TO OFFER SVB A BAILOUT ‘BY ANY STRETCH OF THE IMAGINATION’

• @jeffnolan Jeff Nolan on x

  it is a little early to be coming out with the “I know SVB and they are a good person, couldn't have done it!” letter. What is there was misconduct, breach of fiduciary duty, management failure that could have been avoided, or actual criminal activity? This needs to be discovered…

• @katie_roof Katie Roof on x

  Venture firms are rallying, trying to get the government's attention to help save customer deposits from SVB. Our story on their efforts https://www.bloomberg.com/...

• @tfadell Tony Fadell on x

  SVB was instrumental in building Silicon Valley & our digital world. They absolutely deserve our support as they have supported us for 40 yrs. There is NO other bank even close to their ability to understand & support these highly technical businesses! https://www.bloomberg.com/.…

• @_jeremyflores Jeremy Flores on x

  What an embarrassingly meaningless statement: “Once there are no problems, then we will take obvious actions one would take when no problems exist. Also, we will not be taking any actions or innovate ideas to help solve the current problem. Signed: ‘Leaders’ of ‘Innovation’” http…

• @ksimm Kristina Simmons on x

  We've also signed this @OverwaterVC. https://twitter.com/...

• @kevinrose @kevinrose on x

  These are some of the well-respected venture firms in the world locking arms to solve this problem. I'm optimistic. https://twitter.com/...

• @can @can on x

  Venture socialism! https://twitter.com/...

• @paulg Paul Graham on x

  Silicon Valley Bank has been a critical component of America's startup ecosystem. I look forward to working with SVB's successor, and hope the FDIC will act quickly to establish one. https://twitter.com/...

• @ranjanxroy Ranjan on x

  Feels like another comms disaster. The more VCs especially these VCs make themselves the face of SVB instead of everyone highlighting everyday workers the less appetite there's gonna be (also certainly looking at Sacks here) https://twitter.com/...

• @crv @crv on x

  During this surreal point in our industry's history we stand by our colleagues in the tech industry, remain supportive of #SVB and look forward to a swift resolution. https://twitter.com/...

• @ronconway Ron Conway on x

  .@svangel and I are proud to join this group of investors supporting SVB for a timely resumption of business https://twitter.com/...

• @m2jr Mike Maples, Jr on x

  @floodgatefund is proud to support this statement in support of SVB. They and their people have played a hugely positive role for decades. https://twitter.com/...

• @mittromney Mitt Romney on x

  Silicon Valley Bank's shareholders and executives lose it all, as they should. Depositors in good faith, however, should recover and have access to their deposits in order to meet their payrolls, pay their suppliers, and to prevent contagion.

• @carnage4life Dare Obasanjo on x

  The SVB discourse has already turned into a background hum of nonsense. The FDIC will work to make depositors whole because the alternative will both devastate the tech sector and lead to more bank runs. Victim blaming depositors is schadenfreude pretending to be business savvy

• @ellebeyoud Lydia Beyoud on x

  Just posted on @theterminal FDIC is looking to make 30-50% of uninsured deposits available to Silicon Valley Bank SVB customers on Monday. Final figure still being hashed out. With @SalehaMohsin & @sridinats https://twitter.com/...

• @davemcclure Dave McClure on x

  JFC, Bloomberg buried the fucking lede here... read last 3 paragraphs: https://twitter.com/... https://twitter.com/...

• @nkulw Noah Kulwin on x

  Back in my day... the fdic takes over a bank on Friday and then you didn't hear peep until Monday... https://twitter.com/...

• @yoda Drew Olanoff on x

  Race faster. https://twitter.com/...

• @bijans Bijan Salehizadeh on x

  Not good - also 30-50% of uninsured only to be paid “The FDIC has been laying groundwork for a potentially drawn-out sale process...despite efforts to reach a resolution quickly, a piecemeal sale spanning weeks or months looked more probable” https://www.bloomberg.com/...

• @danprimack Dan Primack on x

  Why Silicon Valley is kinda screwed if no one buys SVB this weekend, and deposits remain frozen (or mostly frozen): 1/ Many companies need to meet payroll next Wednesday. Plus other expenses. 2/ Lines of credit tied up too. 3/ Many VC funds keep $$ in SVB, or SVB is an LP.

• @metacurity @metacurity on x

  “As the weekend progresses, it is clear that more than a bailout, the SVB needs a white knight, someone who can come in and take over the bank. If that happens, we can see something akin to normalcy return. ” https://om.co/...

• @salimismail Salim Ismail on x

  “My worst weekend in 3 decades in Silicon Valley”.. a must-read by @om https://om.co/...

• @chockenberry@mastodon.social Craig Hockenberry on mastodon

  If you thought the 401K hits in 2008 and 2022 were bad, wait until your employer tells you SVB was managing their plan.  —  This will have a much longer term affect than making the next payroll.  —  https://www.svb.com/...

• @heetermaria Maria Heeter on x

  Scoop: Jefferies traders contacting founders w/ offers for SVB claims. Bids said to have started at 70 cents on the dollar but unclear who's actually biting https://www.theinformation.com/ ...

• @rhinovian @rhinovian on x

  @Techmeme That's pretty stupid. Most people will get 90-100 from the FDIC just based on the balance sheet numbers.

• @veronicasaron Veronica on x

  Those who root for Silicon Valley's downfall are missing that optimism AND missing the extreme global ripple effects of these companies going extinct, BEYOND financial collapse There is no benefit to killing dreams & wiping out the most daring,innovative companies on the planet.

• @maxkennerly Max Kennerly on x

  The newest innovation from Silicon Valley venture capitalists: The Glass-Steagall Act of 1933. Go ask your friends on Wall Street about it, they're the reason it's not the law anymore. https://twitter.com/...

• @jbillinson Josh Billinson on x

  “About 96% of SVB's deposits as of Dec. 31 were uninsured, according to the bank's filings, far higher than a typical lender.” https://www.semafor.com/...

• @ashleevance Ashlee Vance on x

  We should have turned all our money over to that Clinkle guy when we had the chance. Lesson learned.

• @dogetoshi Steven on x

  Bankers saw the USDC trade and said we want some of that https://twitter.com/...

• @rakeshlobster Rakesh Agrawal on x

  Unless you're likely to go out of business tomorrow, please don't do this. https://twitter.com/...

• @alistairmbarr Alistair Barr on x

  Moody's estimates 80 to 90 cents on the dollar for uninsured deposits of SVB bank. https://www.businessinsider.com/ ... https://twitter.com/...

• @armanddoma Armand Domalewski on x

  4) The tl;dr is: The FDIC is not likely to “bail out” the deposit holders of SVB, it's likely going to make the people who invested in SVB or loaned it money eat the losses, and if does need to put in money, it'll pay for it by charging other banks higher premiums

• @anthony Anthony DeRosa on x

  This seems unnecessarily hyperbolic. https://twitter.com/...

• @reedalbergotti Reed Albergotti on x

  The vultures have landed, seeking to capitalize on cash-strapped startups. from @lizrhoffman and me https://www.semafor.com/...

• @fchollet François Chollet on x

  Reading up on the SVB situation and how FDIC operates — the TL;DR is that the bank will reopen on Monday and folks will be able to withdraw up to $250k + some fraction of the remaining balance. Over the next few weeks they will recover 100% (or very close) of their full balance.

• @_drew_mccoy_ Drew McCoy on x

  Every crisis is someone else's opportunity. https://twitter.com/...

• @lizrhoffman Liz Hoffman on x

  Wall Street's gonna Wall Street. https://twitter.com/...

• @kateclarktweets Kate Clark on x

  Jefferies is contacting startup founders with money stuck at SVB, offering to buy their deposit claims at a discount. And VC firms including Andreessen Horowitz have offered loans to portfolio companies to help them cover payroll. New from @heetermaria https://www.theinformation.…

• @amuse @amuse on x

  SVB🧵The sharks are circling Silicon Valley Bank. Need some of your money now? Hedge funds are offering 60 cents on the dollar in exchange for inaccessible deposits. https://www.semafor.com/...

• @counternotions Kontra on x

  Hedge funds are gonna hedge. https://www.semafor.com/...

• @imani_barbarin @imani_barbarin on x

  ETSY?! “Etsy is warning sellers that the collapse of Silicon Valley Bank on Friday is causing delays in processing payments, according to an email from the company shared with NBC News.” Etsy delays payments to sellers due to Silicon Valley Bank collapse https://www.nbcnews.com/.…

• @yuris Yuri Sagalov on x

  Etsy seller Owen McKinney, who runs Kentucky Country Home laser engraving business, said the deposits delay would have a “catastrophic” effect on his business. This is who will get impacted if SVB depositors are not made whole. https://www.nbcnews.com/...

• @kprescott Katie Prescott on x

  140 UK tech companies have written to the Chancellor today to ask for support following the collapse of SVB UK ⬇️ https://twitter.com/...

• @samirkaji Samir Kaji on x

  I'm now seeing emails from various firms imploring their companies to move all cash to a top 4 bank (including from FRB, Signature, etc). This type of panic will break the system, is frankly, very dangerous. However, a few things to think about: 🧵

• @secretcfo @secretcfo on x

  If you are the CEO or CFO at a business who banks with SVB; here are some things you CAN do over the weekend 1. Build a 4 week rolling daily receipts and payments style cashflow forecast. 2. Gear up finance team to actualize & reforecast every AM by 10am

• @smtuffy Sean Tuffy on x

  Brex is backed by Peter Thiel, btw https://twitter.com/...

• @moving_charlie @moving_charlie on x

  180 UK tech CEO's have written to @Jeremy_Hunt asking him to intervene. “Many [UK] businesses will be sent into involuntary liquidation overnight.” SVB Fallout News: Spreading Problems Around the World - Bloomberg https://www.bloomberg.com/...

• @joshmedia Josh Felser on x

  accounting/capital rules allow banks to ignore mark-to-market losses on some securities if they intend to hold them to maturity. Problems 1) cash crunch may force a bank to sell 2) Treatment of securities means banks are discouraged from selling

• @aaronklein Aaron Klein on x

  Seeing a lot of economic illiteracy around the Silicon Valley Bank debate. Absolutely no one thinks SVB shareholders should be bailed out. The firms who deposited money into a federally-regulated institution did not “take a risk.” They deposited cash into a bank account. https://…

• @gramblings Gautam Gupta on x

  This would be a disaster for the US banking system. Really hope this does not occur. https://twitter.com/...

• @alexwickham Alex Wickham on x

  From Santa Clara to Shoreditch, SVB Fallout Spreads Around World Top read from @TW_Seal and team on the Silicon Valley Bank story that's blowing up (Sort of thing you'd think might lead the BBC News, but nah) https://www.bloomberg.com/...

• @benparr Ben Parr on x

  @sivb The next 36 hours will be crucial. Regulators must find a buyer or guarantee deposits, or the risk of economic contagion spreading skyrockets. I am still hopeful that the worst case scenario won't happen, but I also didn't think @SIVB would collapse either.

• @matthfield Matt Field on x

  EXC: In further unwelcome news for Britain's start-ups, the British Business Bank had started writing to Future Fund companies warning it plans to soon call in their bailout loans on punishing terms - with @jamestitcomb https://www.telegraph.co.uk/ ...

• @lynnmdoan Lynn Doan on x

  The fallout from the collapse of Silicon Valley Bank is starting to spread to startups around the world. Founders in UK are warning that “businesses will be sent into involuntary liquidation overnight” if government doesn't step in. By ⁦@TW_Seal⁩ https://www.bloomberg.com/...

• @mikegatto Mike Gatto on x

  The amount of tech-bro Libertarians who suddenly have become advocates for “Big Government” is astounding. https://www.bloomberg.com/...

• @israelipm @israelipm on x

  From Rome I have held talks with senior high-tech figures in Israel. Upon my return to Israel I will discuss the scope of the crisis with the Finance and Economy ministers and the Governor of the Bank of Israel.

• @anothercohen Alex Cohen on x

  Last 24 hours has been pretty eye opening to see how many people are rooting against the tech industry and innovation

• @tw_seal Thomas Seal on x

  New: Silicon Valley Bank fallout spreads to UK * Dozens of startups write to Jeremy Hunt, who spoke with the Bank of England governor this morning * Treasury canvassing startups and holding a roundtable with industry reps this afternoon https://www.bloomberg.com/...

• @cornelialake @cornelialake on x

  The Brits screwed the world by blocking the Barclays deal for Lehman at the 25th hour. “We don't want your cancer” they said. Let them bailout their own startup ecosystem. $SIVB SVB Fallout Spreads Around the World as UK Firms Plead for Help https://www.bloomberg.com/...

• @tw_seal Thomas Seal on x

  New: Silicon Valley Bank fallout spreads to UK. * Dozens of startups write to Jeremy Hunt, who met with the Bank of England governor this morning * Treasury canvassing startups and holding a roundtable with industry reps this afternoon https://www.bloomberg.com/...

• @sumukhsridhara @sumukhsridhara on x

  We just built a product @AngelList to help startups impacted by SVB that need emergency capital: - Standardized Loan Agreement Docs (temporary loan from investors) with online signing & funding. - Built in banking access (if your company needs it) DM me if you need access https:/…

• @billackman Bill Ackman on x

  From a source I trust: @SVB_Financial depositors will get ~50% on Mon/Tues and the balance based on realized value over the next 3-6 months. If this proves true, I expect there will be bank runs beginning Monday am at a large number of non-SIB banks. No company will take even a..…

• @ddisparte Dante Disparte on x

  @circle is currently protecting #USDC from a black swan failure in the U.S. banking system. @SVB_Financial is a critical bank in the U.S. economy and its failure - without a Federal rescue plan - will have broader implications for business, banking and entrepreneurs. https://twit…

• @davidsacks David Sacks on x

  Where is Powell? Where is Yellen? Stop this crisis NOW. Announce that all depositors will be safe. Place SVB with a Top 4 bank. Do this before Monday open or there will be contagion and the crisis will spread.

• @garrytan Garry Tan on x

  Thousands of startups and small businesses are at risk due to the SVB failure. We ask for depositors to be made whole, and for regulation to prevent this catastrophe. 650 founders who employ more than 22,000 people, have already signed. https://www.ycombinator.com/ ...... https:/…

• @garrytan @garrytan on x

  Regulators need to step in to do a *backstop* of depositors (not a bailout of a bank) 40,000 SVB depositor small businesses 30% will fail to make payroll in the next 30 days Estimate 10 employees each 120,000 jobs on the line Years of US innovation on the line

• @garrytan Garry Tan on x

  650 founders who employ over 20,000 people have already signed this petition Thousands of startups and small businesses are at risk due to the SVB failure. We ask for depositors to be made whole, and for regulation to prevent this catastrophe. 650 https://www.ycombinator.com/ ...…

• @fordm Matt Ford on x

  This doesn't exactly spark enthusiasm for a SVB bailout. https://www.nytimes.com/... https://twitter.com/...

• @rokhanna Ro Khanna on x

  The Treasury Department and FDIC must communicate loudly and clearly that depositors will be protected. The investors and executives of SBV should bear risk and lose. But this should not mean that workers go without paychecks on Monday or small businesses collapse.

• @om @om on x

  The spiral of negativity can be self-consuming. (more thoughts here, https://om.co/... )

• @ericnewcomer Eric Newcomer on x

  no atheists in a foxhole. no libertarians in a bank run https://twitter.com/...

• @jenn_elias Jennifer Elias on x

  “I'm trying to get a check!” one man yelled, knocking on the locked glass doors of SVB's Menlo office. “After this, we're putting our money in multiple banks,” one founder said to another he just met. “Us too—if we're still around.” More sights & sounds: https://www.cnbc.com/... …

• @jenn_elias Jennifer Elias on x

  “The same Bank funding VCs and doing all kinds of magic acts to keep their portco's alive (some of the very VCs that sent us and then left us hanging), their mgmt teams, leveraged lines - all gone,” wrote an SVB Sr. Market Manager on LinkedIn this morning: https://www.linkedin.co…

• @nikitabier Nikita Bier on x

  Coming up next week 1. Depositors at small banks move to JP Morgan 2. Everyone moves from cash to treasuries & money markets 3. Bank assets are no longer backed by deposits 4. More runs on banks 5. Socialists cheer on demise of small banks 6. Execs at big banks get mega rich http…

• @karaswisher Kara Swisher on x

  Look at who is missing here and that will tell you a whole lot. https://twitter.com/...

• @modestproposal1 @modestproposal1 on x

  Oh my god. “Ideally”. How the ever living fuck did they not realize that announcing in the morning without concurrent pricing would cause a death spiral. https://twitter.com/...

• @nycsouthpaw @nycsouthpaw on x

  Part of the purpose of the FDIC cap, as I gather, is to encourage people and enterprises not to concentrate large sums of their cash in a single bank. Even if it's more operationally efficient, it exposes the despositor, their employees, the taxpayers, etc to undue risk.

• @buccocapital BuccoCapital Guy on x

  Take a moment to thank your local Twitter generals for pausing their focus on the land war in Ukraine to share their insights on the banking system. We are grateful

• @pt Parker on x

  Adding blogging to Twitter was a mistake that is gonna collapse the banking system. https://twitter.com/...

• @fluentinfinance Andrew Lokenauth on x

  In 2022 Forbes named Silicon Valley Bank one of America's Best Banks, and Moody's gave them an A rating. SVB has been around for 40 years and was home to half of all venture-backed startups. Now it's the biggest bank failure since 2008 and the second-largest in US history.

• @om @om on x

  Let me cut to the chase: as someone who has been part of the Silicon Valley ecosystem for three decades, this is the worst weekend I have experienced as part of the technology community. https://om.co/... https://twitter.com/...

• @scobleizer Robert Scoble on x

  Silicon Valley feels like this today: https://twitter.com/...

• @kateclarktweets Kate Clark on x

  Inbox: Brex says it's received $1B in payroll loan requests since it announced its emergency bridge credit line yesterday.

• @semaforben Ben Smith on x

  Hedge funds offer to buy deposits stuck at Silicon Valley Bank | ⁦@lizrhoffman⁩ ⁦@ReedAlbergotti⁩ https://www.semafor.com/...

• @clarajeffery Clara Jeffery on x

  “Trump...lessened scrutiny for many regional banks. SVB's chief executive, Greg Becker, was a strong supporter of the move....it changed requirements for the amount of cash that these banks had to keep on their balance sheets to protect against shocks.” https://www.nytimes.com/..…

• @danprimack Dan Primack on x

  This is on top of the significant deposit inflows on Thursday & Friday. https://twitter.com/...

• @__aston__ Aston Motes on x

  A bailout for shareholders here is unjustified, but having the government backstop deposits until a safe home for SVB assets is found just makes sense. Otherwise businesses are going to pull their money out of every regional bank ASAP.

• @howardlindzon Howard Lindzon on x

  Yo founders...@angellist has a possible solution for those affected by SVB needing emergency capital - wonderful work https://twitter.com/...

• @aoc Alexandria Ocasio-Cortez on x

  How many of the Silicon Valley folks who lobbied Congress + Trump to cause this crisis are willing to admit they were wrong? I haven't seen a single one of these guys crying for a bailout take a single ounce of accountability for their actions. It's honestly shameless.

• @silvermanjacob Jacob Silverman on x

  SVB operated differently than many American banks, apparently made poor decisions, and is now under a well-established FDIC process designed for these circumstances. Is the contagion fear real, or do billionaire techies and financiers just want to be made whole immediately? https…

• @vkhosla Vinod Khosla on x

  Agree Fed needs to step up. But so do VC's. We are talking to 100+ portfolio companies assessing their needs and plan to bridge where we are a lead or major investor at our cost of borrowing only or under special circumstances where a company's investors are not able to respond h…

• @valaafshar Vala Afshar on x

  SVB is not just a bank, it was at the heart of the American innovation economy. — @om https://om.co/... https://twitter.com/...

• @livefromvr @livefromvr on x

  Sillicon Valley doesn't quite grasp how indifferent Washington is to let thousands of startups fail through no fault of their own. The Fed doesn't quite grasp how enmeshed startups are in the modern economy and how much nonlinear blowback this will lead to.

• @epsilontheory Ben Hunt on x

  Let's all hope that Ackman is wrong in his information, because he's 100% right in his conclusion. https://twitter.com/...

• @wolfejosh Josh Wolfe on x

  SVB was great partner to Lux + many of our cos that wouldn't exist w/o them— REMEMBER: VCs despite our 📣puffery + promotion 🙄are just pass-thrus. The cash💰 AINT ours—VCs earn fees & profit share (if any) BUT the 💰 belongs to retirement plans, pensions, charities across US🇺🇸 https…

• @rolfewinkler Rolfe Winkler on x

  If VC/PE/founders are concerned, they can make sure they perform on the ~$50b of capital call and private loans they've taken out. Not exactly subprime credits on the asset side of the balance sheet. https://twitter.com/...

• @rolfewinkler Rolfe Winkler on x

  Hard to see how American despositors lose anything here. At 12/31: $16b of equity, $19b of ST/LT debt, $14b of foreign deposits. Losses on treasurys wipe the equity, but still lots of cushion for uninsured American despositors.

• @jasonfurman Jason Furman on x

  BTW, the @nytimes requires inflation adjustment for movie records. But not for bank failure records. https://www.nytimes.com/... https://twitter.com/...

• @s_mikhailovich Simon Mikhailovich on x

  Bill Ackman's disingenuous excuse of SVB failure: “SVB's senior management made a basic mistake. They invested short-term deposits in longer-term, fixed-rate assets.” Borrowing short to lend long is how a fractionally reserved banking system operates. There was no mistake.

• @eliotwb Eliot Brown on x

  V prescient story from @JonathanWeil in Nov on bank risks Silicon Valley Bank bonds worth $15.9 B less than balance sheet value SVB: “There are no implications for SVB because, as we said in our Q3 earnings call, we do not intend to sell our [held to maturity] securities.” https:…

• @karaswisher Kara Swisher on x

  The #1 is a real nonsense scare trope coming from SV folks, who suddenly found religion (government) — there won't be a run on all the banks, even though the government has to act loudly and quickly by the end of the weekend since that one of its its critical jobs. https://twitte…

• @film_girl Christina Warren on x

  100% with all of this. You don't have to like the bank or the people who held their money there, but unless Citi, BoA or JPMC can step in by Monday, I don't want to think about what happens next. https://twitter.com/...

• @karaswisher Kara Swisher on x

  Wait, I forgot who I was for a sec and spilling tea is my job. MIA: Founders Fund, Andreessen Horowitz, Sequoia.

• @heidibraun @heidibraun on x

  This sums up the last four years perfectly. Sadly, but perfectly. Much love to everyone battling it out today, this week, month, year, decade. Kindness always wins. https://twitter.com/...

• @nils_gilman Nils Gilman on x

  This is bullshit. If these startups have viable businesses, they will get recapitalized. The only people who will lose money are the VCs who gave the startups money, and now need to give them more money. NO BAILOUTS OF VENTURE CAPITALISTS. https://www.npr.org/...

• @1markmoss Mark Moss on x

  USDC stablecoin, which is or was fast on the path to becoming a US-CBDC, doesn't have your dollars anymore... they lent them to a bank that lent them to the government, and they went up in 🔥 https://twitter.com/...

• @garrytan Garry Tan on x

  Silicon Valley Bank failure could wipe out a whole generation of startups If there is not more action, this will become a contagion that spreads to other startups and other banks. Depositors must be made whole. https://www.npr.org/...

• @lorenasgonzalez Lorena Gonzalez Fletcher on x

  Wow! Incredible....VCs & start-ups realize it's actually illegal to have people do work without paying them. I thought that's just what they called a “business model.” https://www.bloomberg.com/...

• @kateclarktweets Kate Clark on x

  New: SVB wasn't just a bank—it was a central artery in the VC circulatory system. While other banks that handled huge clients might barely give a startup founder the time of day, SVB showered them with attention. Now it's gone. https://www.theinformation.com/ ...

• @stanleyroberts Stanley Roberts on x

  The ripple effect from this bank failure could be devastating. No matter how many millions you have in this bank members can only access $250.000 ⁦@FDICgov⁩ https://www.npr.org/...

• @amir Amir Efrati on x

  seems @RagingVentures is the @michaeljburry of the SVB saga https://www.theinformation.com/ ... $sivb https://twitter.com/...

• @hblodget Henry Blodget on x

  There were reasons for this bank run. And the trouble began long before this week... https://twitter.com/...

• @martinsfp @martinsfp on x

  Some debate in the replies about how many UK startups are affected but... it's a lot. https://twitter.com/...

• @apatelthompson Avni on x

  Sweetest two sentences I've read in a long time. Shaking with relief. Heartsick for my fellow founders. I have faith that all is not lost and that there is salvaging. But I'm also certain won't be fast enough or enough enough to save all. 💔 https://twitter.com/...

• @scott_wiener Senator Scott Wiener on x

  The situation at Silicon Valley Bank has left many on edge SVB had $175B in deposits, a large % coming from SF small businesses, nonprofits & tech startups that are locked up due to the collapse. There are big ramifications if the Fed & US Treasury don't take fast action:🧵

• @katie_roof Katie Roof on x

  At least one startup was planning to do layoffs today, but the Silicon Valley Bank situation forestalled those plans because the business, which banked with SVB, no longer had the capital to pay severance https://www.bloomberg.com/...

• @kateclarktweets Kate Clark on x

  Investment firm StepStone Group, for instance, told LPs Friday that SVB serves as its depository bank and credit facility provider and asked LPs not to wire outstanding capital to the firm's SVB account. https://www.theinformation.com/ ...

• @jsrailton John Scott-Railton on x

  Watching venture capitalists panic as they realize they've been cosplaying as Howard Roark & we aren't living in The Fountainhead is something to behold...

• @jsrailton John Scott-Railton on x

  Silicon valley libertarians up through yesterday: Gov stifles innovation, keep them away. This morning: we need immediate, drastic government action.

• @alexweprin Alex Weprin on x

  Vimeo says it had bank accounts at Silicon Valley Bank, but the balance should be covered by the FDIC. https://www.sec.gov/...

• @brianroemmele Brian Roemmele on x

  Many have an array of opinions on the failure of Silicon Valley Bank. At the end of the day real people have been impacted by events that should not have taken place. There was trust, that was shattered today. https://twitter.com/...

• @cpa_trendlines Rick Telberg on x

  How founders are reacting to Silicon Valley Bank's collapse: The ripple effect of SVB's downfall is reverberating throughout the tech sector. How founders are reacting to Silicon Valley Bank's collapse by... https://techcrunch.com/... > https://confirmsubscription.com/ ... #tech…

• @yoda Drew Olanoff on x

  This is the most important part of this SVB situation. The companies. https://twitter.com/...

• @nmasc_ Natasha Mascarenhas on x

  “You can use the code BANKRUN at checkout.” Here's how founders are reacting to SVB's collapse https://techcrunch.com/... w/ @bayareawriter @DominicMadori @Kyle_L_Wiggers @kirstenkorosec

• @dominicmadori Dom on x

  TechCrunch looked at how founders are reacting to SVB's collapse. Spoiler alert, emotions are high. “I never thought about the need to have more than one bank account for a company,” one first-time founder said. “This could end some companies.” https://techcrunch.com/...

• @cullend Cullen on x

  This is wild. This will effect so many more people outside of tech. For instance this company that partners with Medicare and Medicaid to deliver food and medicine to low income communities https://twitter.com/... https://twitter.com/...

• @alex @alex on x

  huge reporting lift here: How founders are reacting to Silicon Valley Bank's collapse https://techcrunch.com/...

• @bayareawriter Mary Ann Azevedo on x

  One founder promptly moved his company's money out of SVB and moved it to another bank.... https://techcrunch.com/...

• @lcmichaelides Lindsey Michaelides on x

  Hi, I'm Lindsey. A bit about me: - Ohio mother of 4 - I employ a team of 15 as a start-up founder & CEO of Strongsuit - drive a used Honda Odessey - husband works in manufacturing - The financial future of my company, team and family are at risk w/ the collapse of SVB (1/23)

• @frances_coppola Frances ‘Cassandra’ Coppola on x

  Yes, the FDIC will do its best to make depositors whole. But it only guarantees to do so for insured deposits - up to $250k per depositor. I do not see any evidence of the US govt being willing to bail out the tech sector. https://twitter.com/...

• @alistairmbarr Alistair Barr on x

  If you're a Silicon Valley Bank customer with deposits of more than $250,000, you are unlikely to get all your money back https://www.businessinsider.com/ ... via @businessinsider

• @ericjackson Eric Jackson on x

  “Toronto-based advertising-tech firm AcuityAds Holdings Inc. revealed on Saturday it had $55min deposits at SVB, amounting to more than 90% of its cash. The firm had halted trading of its stock Friday after a 14% slump, citing the “unfolding situation” with Silicon Valley Bank.” …

• @repswalwell Rep. Eric Swalwell on x

  On the issue of Silicon Valley Bank, I don't give a rip about bank management and stock holders. Let them fail. I want to make sure people like Lindsey and her employees (thousands like hers are in my district) receive their paychecks. https://twitter.com/...

• @noahpinion @noahpinion on x

  Correct. https://twitter.com/...