Silicon Valley Bank’s Collapse Causes Strain for Young Companies – The New York Times

  Young companies raced to get their money out of the bank, which was central to the start-up industry. Some said they could not make payroll. Friday at the headquarters of Silicon Valley Bank, which has been a financial partner to start-ups and venture capital firms.Credit…Jeff Chiu/Associated Press Erin Griffith Erin Griffith reports on start-ups…

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SVB Panic Spreads As European VCs Urge Founders to Pull Funds

At least 10 European VC funds have told their founders to pull funds out of Silicon Valley Bank. That follows prominent US investors telling their firms to get their money out through Thursday. The tech lender was plunged into crisis after a $21 billion firesale of its bond portfolio. Silicon Valley Bank’s woes spread overseas…

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Here’s An Anecdote That Perfectly Encapsulates The Stupid Marriage Of Silicon Valley And The Rest Of Corporate America

Photo: Jeff Chiu (AP) Throughout Bad Blood, John Carreyrou’s excellent new book about fraudulent blood-testing company Theranos and its founder Elizabeth Holmes, the $9 billion company keeps running into the same problem: would-be investors or retailers want to see a demonstration of its technology. This is an issue for Elizabeth Holmes’s company, because their shit…

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San Francisco’s Bizarre Scooter War Shows How Tech Companies Ignore the Law – VICE

A pair of women ride a LimeBike scooter. Photo by the author The Bay Area serves as America’s sandbox. The tech world’s most far-fetched ideas are often sketched and tested here, and if they’re successful, they’ll spread throughout the country. The latest trend to materialize here is motorized scooters you can rent through an app….

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