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Music or wherever you get your podcasts. Welcome to Big Technology Podcasts, a show for cool-headed, nuanced conversation of the tech world and beyond.

Well, Silicon Valley Bank just failed. That's right. California regulators stepped in, shut it down,

told the FDIC that it would be the receiver of its protected insured deposits according to reports,

which basically means that if you have $250,000 or less, you're going to be insured by the FDIC.

And if you have more, you're going to have to go through some sort of process that looks like a bankruptcy process.

Okay, this is major news. This is Silicon Valley Bank is the bank of the tech industry.

It's where a lot of VCs and a lot of startups keep their money and if it is

failing it's going to have a major impact on the tech industry so ron jroy and i as you know if you

listen to the show we typically talk on Fridays about the news well this week we recorded with

dan primack of axios this the business editor there breaking down

what was going to happen directly before this shutdown took place so i'm going to play you that

discussion today we're going to go through all the things that happened with this bank including

why it shut down and what it means the implications whether there's contagion

and spillover we recorded this just as this was going down there was still some uncertainty but

i think when you finish listening you're going to understand exactly why silicon valley

silicon valley bank failed and what it means from here i hope you enjoy welcome ron john

welcome dan hey where does this rate on the

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