Lessons from The Collapse of Silicon Valley Bank

Last week I got an email alert from the bank that saves my business money. I got worried and quickly opened the email. The first words I read were “a bank was taken over by the FDIC” and “insurance amount was $250,000 per depositor.” I panicked. I kept reading and only got a sense of relief when I discovered that it wasn’t my bank that was taken over by the FDIC but Silicon Valley Bank (SVB). Learning what happened to SVB during the past week has taught me many lessons that would be useful not only to business owners but anyone who has money in the bank. Here are some key things you need to know about the collapse of SVB. <h2>What’s Silicon Valley Bank and Why It Collapsed?</h2> The words “Silicon Valley” tells you a lot about this bank. The primary support provided by this bank was in the field of startups and fintech companies (which exceed the scale per square meter of Silicon Valley). You may be surprised, but the history of this bank is almost 40 years old, and for many years, it did not try to enter the market of other customers except for those comfortably settled in California. The bank attracted clients through cooperation with leading venture capital funds, which advised startups to open accounts with SVB. <a href="https://thepycoach.com/lessons-from-the-collapse-of-silicon-valley-bank-b62a45f3d5b8">Visit Now</a>