Hi, I'm Erica Maris, founder of Ily and host of What About Your Friends.

A brand new show on the Ringer podcast network dedicated to the many lives of friendship

and how it's portrayed in pop culture.

Every Wednesday on the Ringer dish feed, I'll be talking with my best friends, Steven Othello,

and your favorites from within the Ringer and beyond about friendships on TV, and movies,

pop culture, and our real lives.

So join me every Wednesday on the Ringer dish feed where we try to answer the question TLC

asked back in the day.

What about your friends?

Today, the death of Silicon Valley bank, we're going to break down the implications,

Washington's muscular response, the risk of a broader banking crisis, and how some very

outspoken Silicon Valley luminaries are covering themselves in dishonor in this fragile moment.

But first, what the hell just happened?

How did the nation's 16th largest bank armed with the deposits of startups,

wineries, and other California businesses mess up so badly that it became the second largest

bank to fail in American history?

I think we have to tell the story chronologically.

For many years, Silicon Valley bank earned its reputation as the bank for startup founders.

You start a company, you raise some money from venture capital, which is concentrated in and

around Silicon Valley in California. You close your series A, you need a bank to hold that money,

where do you go? For many, the answer was you go were most other early stage startups.

Like you have already gone, you go to SVB.

...