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Silicon Valley Bank may have blown up today, but it’s not just the bank that has Jack Russo and Joe Cucchiara concerned. The global economy could take a major hit since Silicon Valley Bank has extended lines of credit to scores of East Coast and Chinese startups over the years. As founders and venture capitalists rush to withdraw capital from Silicon Valley Bank, you have to wonder, you have to wonder how badly SVB shot themselves in the foot by not getting a formal guarantee from VCs to make good on their loans. Jack Russo and Joe Cucchiara discuss the bigger picture to be painted in Silicon Valley Bank’s implosion.
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Silicon Valley Bank may have blown up today, but it’s not just the bank that has Jack Russo and Joe Cucchiara concerned. The global economy could take a major hit since Silicon Valley Bank has extended lines of credit to scores of East Coast and Chinese startups over the years. As founders and venture capitalists rush to withdraw capital from Silicon Valley Bank, you have to wonder, you have to wonder how badly SVB shot themselves in the foot by not getting a formal guarantee from VCs to make good on their loans. Jack Russo and Joe Cucchiara discuss the bigger picture to be painted in Silicon Valley Bank’s implosion.