Airbnb, Uber, Fitbit, Instagram, Pinterest, Facebook, DoorDash, LinkedIn, were all hyper-successful small startups that changed their industries and (in some cases) our nation. Since the early 80s, there has been a key financial partner to startups, Silicon Valley Bank. Following the failure of the bank, the second largest failure in U.S. history, the Federal Deposit Insurance Corporation is now in charge of the organization. There is an interesting front-line piece from Jakub Porzycki that goes into the night before the bank’s close. Plus, don’t be surprised if there is another bank failure between now (March 15) and the day you are reading this (March 18) as these things happen fast.

Source: Forbes March 18, 2023 09:51 UTC