When Your Bank Collapses
“Twitter is one of these tools that, as humans, we have got to be vigilant about how it’s being used and question whether it’s something we want to have around and want to participate in.”
Today on the podcast, we discuss the collapse of the 16th largest bank in America, the Silicon Valley Bank (SVB).
And who do we bank with, you might ask?
SPOILER ALERT: Silicon Valley Bank.
This was the second biggest bank failure in the world and in this exclusive episode, we discuss what happened to SVB and how it is- or was- at the center of the world of start-ups.
The collapse of this bank doesn’t only affect the billionaires but also has a major impact on companies and their ability to do payroll.
Join in on our discussion on the SVB run and how it’s impacting our company, the tech start-up world, and more.
Here’s a sneak peek of what we discuss:
What happened to SVB: the second biggest bank failure in the world.
How Jeni found out about what was happening at SVB.
Why the 13th of March is a significant day for us.
Sandy shares her experience of finding out about what was going on with SVB.
Where we put or transfer our money and the complexity of opening a business account.
How the insurance payout worked (for us).
Mass panic: the shock of how quickly the collapse happened and the role social media played.
Why nothing is certain.
The reasons why SVB was attractive to businesses and [tech] startups.
Why we think the “let them fail” mentality is narrow-minded and naive.
The flip side: the kindness and support seen throughout.
How we are processing or navigating through this event.
The mental health aspect associated with events like this.
Why it is important that you spread your money out to different banks, and diversify!
JOY : Taliesin West
HUSTLE: Free Training: The 11 Things You Must Stop Doing Today To Become a 6-Figure Creator
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