The Rise and Fall of Silicon Valley Bank: Lessons Learned.
TL;DR
Small businesses that banked with Silicon Valley Bank were lucky to get their money back after the bank's collapse, thanks to federal government intervention. However, many of these businesses had uninsured deposits significantly in excess of the $250,000 FDIC insurance limit, which is a big, irresponsible gamble. The federal government's intervention raises questions about the future of emergency steps and who will bear the costs. Small businesses should learn from this and manage their risk better by spreading their funds among different institutions and investment options.
Topics:businessfinance#fdic-insurance#federal-government#finance#risk-management#silicon-valley-bank#small-businesses
- Consider yourself lucky if your small business worked with Silicon Valley Bank The Guardian
- Where Financial Risk Lies, in 12 Charts - WSJ The Wall Street Journal
- I'm an SVB employee who lost more than $1 million. Here's the inside story of our struggle to survive. Business Insider
- Why almost everyone failed to predict Silicon Valley Bank's collapse CNN
- SVB's Failure Put Payrolls at Risk. Why Banks Shouldn't Dominate Payments. Barron's
- View Full Coverage on Google News
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