- As Silicon Valley Bank was shuttered by the FDIC on Friday, investors and companies with money locked up expressed dismay at how it went down.
- Many venture capitalists likened the collapse to a Twitter-led bank run, based more on unjustified fear than reality.
- Investors were urging their portfolio companies to allocate money to other banks so they could pay their employees on time.
Another venture capitalist said that a representative from SVB called their firm on Thursday to assuage their fears but that the firm’s CFO “didn’t feel that it was reassuring, to say the least.”
Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC