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Last weekend was a nightmare for tech founders and executives as the Silicon Valley Bank, where over half of the venture-backed startups keep their money, failed in just 40 hours. In this video, we discuss the events that unfolded from Wednesday at 4:04 PM to Friday at noon, when trading was halted, offices were closed, and the government had to intervene with a takeover.
The panic continued over the weekend as thousands of jobs were on the line, not only from their own payrolls but their providers too. The government’s intervention, which is usually less welcomed in the tech sector, was seen as a desperate callout for help. We’ll explore whether or not this was the right thing to do and what could have happened if it hadn’t.
If you’re interested in the tech world and want to know more about the potential consequences of a bank’s failure, then this video is for you. Join us as we dive into this crucial topic and discuss its impact on the future of technology.
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