Silicon Valley Bank and Silvergate's Troubles
Bloomberg Tech
Bloomberg
4.4 • 69 Ratings
🗓️ 9 March 2023
⏱️ 45 minutes
🧾️ Download transcript
Summary
Bloomberg's Caroline Hyde and Ed Ludlow break down the latest from Silvergate's meltdown and why SVB Financial Group plunged 60% on Thursday. Plus, Discord is adding OpenAI features to its chatbot and moderation tools.
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Transcript
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| 0:00.0 | Join Stacey Abrams, Leib Shriver, Gina McCarthy, and more of the planet's environmental |
| 0:06.2 | leaders and problem solvers for the Bloomberg Green Festival in Seattle, July 10th to the 13th. |
| 0:12.8 | Title sponsor Amazon, Official Airline, Alaska Airlines. |
| 0:17.6 | Supporting sponsor, Providence. |
| 0:19.9 | Contributing sponsor, Wareyerhauser. |
| 0:22.6 | Get 40% off using promo code Radio 40 |
| 0:26.0 | at Bloomberg Live.com slash Green Festival. I'm Caroline High in Bloomberg's world headquarters in New York. |
| 0:46.0 | And I'm Ed Ludlow in San Francisco. |
| 0:48.0 | This is Bloomberg Technology. |
| 0:50.0 | Coming up, S. V. V. Silicon Valley Bank suffers its worst ever intrad day drop, as the CEO begs |
| 0:56.0 | clients to stay calm. What this reflects about startups, about venture capital firms, and |
| 1:00.8 | tech focused lenders. |
| 1:03.1 | And the chat platform Discord turns to, you've guessed it, open AI to look at integrating AI into the platform |
| 1:09.9 | we'll discuss. |
| 1:11.9 | Then the Fed creates a crypto oversight team to overlook stable coins. |
| 1:16.7 | We discuss with the co-fad of D.N. Stable coin program. |
| 1:20.7 | But first let's check in on the markets because what a down day what a worry that we are getting surrounding lenders |
| 1:27.0 | Banks in general and of course a lot of those are tech focused in nature Nasak of by 2% |
| 1:31.6 | KVW Bank Index I shine the light on this index |
| 1:34.4 | because the banking index is having its worst day |
| 1:36.4 | since June of 2020 off by 7.7% |
| 1:39.2 | and it's all regarding CVB and indeed Silvergate. |
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