15 SVB - Shutdown by Regulators....only $250k per account is insured! (www.cnbc.com) posted 1 year ago by MindlessRationality 1 year ago by MindlessRationality +15 / -0 Silicon Valley Bank is shut down by regulators in biggest bank failure since global financial crisis The tech-focused bank was closed by regulators on Friday after attempts to raise more capital failed. 15 comments share 15 comments share save hide report block hide replies
Seems related to the tech layoffs and AI to me.
Might push startups out of the valley completely. Watch as California loses its GDP in the next few years if this continues