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Episode 7: Silicon Valley Bank – The Fallout and the Silver Lining
Manage episode 358817936 series 3447609
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The failure of Silicon Valley Bank (SVB) flooded our attention this past week. The Twitter Run on the 18th largest bank in the US followed with a weekend frenzy for regulators announcing they were willing to backstop all deposits over and above the initial FDIC threshold of $250K. To underscore the importance of this event, by the end of 2022, SVB had $209 billion in assets. It was a “lone source” of support for startups in Silicon Valley. The pace to remediate this potential contagion and calm the markets has been swift. The ripple effects continue to be felt, including here in Canada. What are the implications to startups in Canada – on their business, the economic outlook in the coming months? More importantly, is there a silver lining in all of this?
We welcomed Steve Foerster, Finance Professor, Ivey Business School, Western University; Paul Barter, Entrepreneur in Residence, Altitude Accelerator; and Andrew Opala, Board Member, Altitude Accelerator and General Partner, Preference Capital, who tackle the questions to which startups have been seeking answers.
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