The Blame Game: Examining the Causes of Silicon Valley Bank's Collapse.
The failure of Silicon Valley Bank, a popular bank among young companies, has affected some emerging local companies in the Midwest's startup community. The bank's seizure of assets set off a weekend of questions, phone calls, and emergency meetings, followed by relief on Monday when the federal government announced a plan that would allow payments to resume. The failure has prompted local companies to re-examine their banking practices and become more discriminating bank customers. The incident may also be an opportunity to shift some early stage venture banking to regional, Midwest banks, away from "Silicon Valley-type ventures."