VCs Together Strong: Can venture capitalists, investors and founders help reduce the impact of Silicon Valley Bank?
. Hemant Taneja, the CEO of General Catalyst, initially revealed the joint statement from several VCs, showing support for the bank. It read:
“In the event that SVB were to be purchased and appropriately capitalized, we would be strongly supportive and encourage our portfolio companies to resume their banking relationships with them.” In parallel, startup incubator Y Combinator, too, posted a petition demanding “depositors to be made whole, and for regulation to prevent this catastrophe.”About 44% of them are based outside of California.According to Y Combinator CEO Gary Tan, the petition — directed toward regulators including Secretary Janet Yellen and Chairman Martin Gruenberg — scored signatures from roughly 2800 founders and 180,000 employees at the time of writing.
“Everyone understands that we have a role to play in trying to calm the situation,” Taneja told Bloomberg. However, disputing this drive to save SVB, prominent Indian entrepreneur Ashneer Grover reminded Taneja that banks don’t get saved by passing bureaucratic, UN-type joint resolutions — taking a dig at the typical VC mindset of pouring money to fix a problem. “It requires intent and balls of steel!” he concluded.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Column: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours'Based on the information that has been made public, the bank unwisely put its eggs in one basket by taking deposits from an insular group of depositors: venture-funded startups.' Column by hiltzikm:
Baca lebih lajut »
VCs are blaming each other in the wake of Silicon Valley Bank collapseInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Baca lebih lajut »
Silicon Valley Bank drops another 45%, weighing on the bank sector againShares of SVB Financial Group, known as Silicon Valley Bank, tumbled for a second day Friday and weighed on the whole banking sector again.
Baca lebih lajut »
Silicon Valley Bank drops another 60%, weighs on the bank sector againShares of SVB Financial Group, known as Silicon Valley Bank, tumbled for a second day Friday and weighed on the whole banking sector again.
Baca lebih lajut »
First Republic leads regional bank rout as Silicon Valley Bank crisis raises fears about bond lossesFirst Republic leads rout in regional banks as SVB crisis raises fears about bond losses
Baca lebih lajut »
Crypto bank Signature slides on Friday amid troubles at Silicon Valley Bank, SilvergateSignature Bank shares dropped as much as 32% on Friday and were halted amid a sell-off in bank stocks that continued for a second day.
Baca lebih lajut »