02-08-2025, 01:12 PM
Yeah, the way I heard it SVB had a commitment to raise the money it needed to take the appropriate write-down and stay in business. Super VC Peter Thiel (a Stanford grad) told all his companies to withdraw their funds and that started the bank run that caused the collapse. I always thought that SVB had a close enough relationship with the VC's that they would be willing to work with them through this crisis. I guess they did, except for Thiel.

