Cyn asks Jay to explain the Silicon Valley Bank failure in "Explain Like I'm Five" style. They dig into what happened, why it happened, and what it means for you and society's future. Note: Posting this early so we're not super late to the conversation.
Purchase our book, 'Eyes Wide Open Vol 1' here: https://jryze.me/eyes-wide-open-book/
Note: The govt. did not officially bailout SVB, but they did 'bailout' (or replace) 'innocent depositors' funds (including the VC community), presumably without using taxpayer money to do so.
As well, HSBC announced a deal to buy a subsidiary of Silicon Valley Bank, which has a new name: SVB Bridge Bank.
Further info in this ABC News article: https://abcnews.go.com/Business/bailout-federal-government-bailout-silicon-valley-bank-signature/storya?id=97846142
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