Why some Silicon Valley CEOs don't blame SVB for its crash: 'I still fundamentally believe' nothing was 'wrong with the bank'
Publishing timestamp: 2023-03-23 09:56:56
Summary
CEOs of startups affected by the collapse of Silicon Valley Bank (SVB) are mourning the loss of a vital part of Silicon Valley's ecosystem. While some blame venture capitalists who advised startups to pull their deposits from the bank, others blame SVB's poor communication and judgment errors. Despite the chaos, some CEOs still believe that SVB might be the most secure place to have deposits with government backing. The collapse of SVB has left many startups concerned about the lasting repercussions of the bank failure and bailout.
Sentiment: MIXED
Tickers: SIVB,
Keywords: svb financial group, silicon valley, entrepreneurship,
Source: https://www.cnbc.com/2023/03/23/why-some-silicon-valley-ceos-dont-blame-svb-for-its-crash.html