LilMikeSFMar 10, 2023

Contagious collapse of major #TechStartUp #investment fixture #SiliconValley Bank , now shut down by #FederalRegulators roils #FinancialMarkets, panics #BayArea #StartUp #founders.
#SantaClara based #Bank reveals sell off of $21 billion in #assets and need to sell more as #InterestRate rise slows biz.

https://www.washingtonpost.com/technology/2023/03/09/silicon-valley-bank-shares/ #InvestmentBanking #PyramidCollapsing

Silicon Valley Bank closed in second-biggest bank failure in U.S. history

A major sell-off in shares of a key Silicon Valley financial institution is fueling fears the tech industry's economic situation is worsening.

The Washington Post