EMERGENCY POD: $SVIB implodes, contagion risk, advice for founders, and what’s next? | E1696
This Week in Startups
Jason Calacanis
4.2 • 1.4K Ratings
🗓️ 11 March 2023
⏱️ 48 minutes
🧾️ Download transcript
Summary
Jason reacts to Silicon Valley Bank being shut down by the FDIC and breaks down what this means for founders and VCs.
(0:00) Breaking down the SVB situation
(4:28) FDIC press release
(7:41) What Jason hopes will happen
(10:16) Defcon 1
(12:39) Thoughts on emergency funding
(15:46) How does the SVB situation affect early-stage fundraising
(26:59) SVB sells their securities
(29:10) USV email to founders
(31:06) SVB CEO addresses the situation
(33:07) Bill Ackman’s response
(34:31)Mark Suster’s response
(35:52) Audience questions
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Transcript
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| 0:00.0 | Okay, everybody, welcome to a live emergency pod. |
| 0:03.0 | If you're not following us on YouTube, |
| 0:05.6 | you could have listened to this live. |
| 0:06.8 | This came out shortly after we taped it on YouTube. |
| 0:09.9 | YouTube.com slash this week in no spaces, no dashes. |
| 0:13.7 | We'll get you to our channel, hit the subscribe button. |
| 0:16.0 | Next to subscribe button is a bell. |
| 0:17.5 | If you click the bell, if I go live, |
| 0:19.2 | you'll get an alert just to give you a fair warning. |
| 0:22.2 | We don't go live that often like once a week right now. |
| 0:24.7 | And today I'm going to talk a little bit |
| 0:26.4 | about Silicon Valley bank shutting down. |
| 0:28.7 | Yes, that's right. |
| 0:29.5 | If you're catching up to the story, |
| 0:31.5 | this is the fastest moving story I've seen |
| 0:33.4 | in the history of Silicon Valley. |
| 0:34.8 | And this could be one of the most impactful stories |
| 0:37.2 | in the history of Silicon Valley |
| 0:39.0 | because so many successful companies |
| 0:42.6 | and successful venture firms are being impacted |
| 0:45.6 | by this shutdown. |
| 0:46.8 | And I have not seen this much chaos in Silicon Valley |
... |
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