Panic-Induced Bank Run Spells the End for Silicon Valley Bank
In the news: Silicon Valley Bank (SVB), a significant financial institution for the tech industry and venture capital firms, has been seized by regulators due to a panic-induced bank run. This development has significant implications for the industry as a whole.
A podcast from Pivot examines the bank's downfall, while an article from CNBC discusses how the collapse happened within just two days. Another CNBC article reports that Roku has 26% of its cash reserves stuck in SVB. Finally, an article from The Atlantic argues that the failure of SVB is now everyone's problem.