Surviving SVB's Million Dollar Loss and the Impact on Black Founders and Local Institutions.

1 min read
Source: Business Insider
Surviving SVB's Million Dollar Loss and the Impact on Black Founders and Local Institutions.
Photo: Business Insider
TL;DR Summary

An anonymous employee of Silicon Valley Bank has given a firsthand account of the bank's collapse, revealing that rank-and-file employees felt that management did a "dismal" job of keeping them in the loop. The employee also spoke about the personal toll of the collapse, with many employees losing significant amounts of equity. Despite this, the focus remained on helping clients, with the employee describing the culture as one of customer service. The employee also praised the support of VC firms and partners, who rallied around the bank in its time of need.

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