Small business owner recounts chaos during SVB collapse.

1 min read
Source: Business Insider
Small business owner recounts chaos during SVB collapse.
Photo: Business Insider
TL;DR Summary

Small business owner Vanessa Pham, CEO and cofounder of Asian food startup Omsom, shared her experience with Silicon Valley Bank's collapse, which threatened small businesses in addition to wealthy VC firms. Pham and her sister went into "problem-solving mode," tapping the company's investors for help and offering resources and encouragement to other small business owners. Omsom is now diversifying where funds are kept and ensuring its offerings shine in the face of uncertainty. The Pham sisters wanted to be transparent about their experience with SVB to show the impact on small, marginalized groups and the importance of examining the values behind products.

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