The Information

Tim Mayopoulous. Photo by Getty.

New SVB CEO: Startup Debt Facilities ‘Will be Honored,’ Says ‘A Lot of People’ Interested in Bank Assets

By Amir Efrati · Mar 14, 2023 11:34am PDT · 9 comments

The government-appointed CEO of the Silicon Valley ‘bridge bank’ asked venture capitalists on Tuesday morning to keep deposits at the bank and return them to the institution. He also said clients with existing debt facilities will be honored. “I’m not asking you to do this as an act of charity,” said Tim Mayopoulos,... The government-appointed CEO of the Silicon Valley ‘bridge bank’ asked venture...

An SVB Financial Group chart displayed on the floor of the New York Stock Exchange in New York, US, on Friday, March 10, 2023. Photo by Bloomberg.

Startups and VCs Scramble to Pay Employees After SVB’s Collapse

By Kate Clark, Cory Weinberg, Aaron Holmes and Maria Heeter · Mar 10, 2023 12:21pm PST · 6 comments

The sudden collapse of Silicon Valley Bank sowed panic at hundreds of startups and venture capital firms that banked there and now must seek new ways to pay employees and access funds from their investors and customers. Founders and VC firms, which also kept billions of dollars worth of assets with SVB, on Friday rushed to figure out whether... The sudden collapse of Silicon Valley Bank sowed panic at hundreds of startups and venture...

Tony Fadell Leaving Nest

By Jessica E. Lessin and Reed Albergotti · Mar 1, 1950 4:00pm PST

This story is developing. More information can be found here. This story is developing. More information can be found here.