https://www.bauerfinancial.com/ seems to be having overloading problems (HTTP response code 500). Perhaps a rush of people trying to check on their bank’s financial health?
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It is not just startups who might be out of luck.
https://www.cnn.com/2023/03/10/business/roku-svb-cash/index.html
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I wanted to try to understand what happened that put the bank in dire straits, and I found this article, which helped: What Happened With Silicon Valley Bank? - WSJ.
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SVB was rated by Forbes just last month as one of “America’s Best Banks” (at No. 20):
How quickly fortunes change.
BTW, the vast majority of SVB depositors had more than $250k in their accounts.
Good read explaining in simple terms what happened What is Silicon Valley Bank? The bank’s collapse, explained. - Vox
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I’m an ignoramus when it comes to finance and banking but it seems this all ties into SVB betting on close to zero interest rates ad Infinitum?
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Rising interest rates devalue any existing fixed-rate interest investments that a bank has, whether they be loans for houses, businesses, vehicles, credit cards, etc. or bonds purchased from the public securities markets. Longer term fixed-rate loans or bonds have greater interest rate risk.
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Being an SVB customer was cool:
“SVB also used its relationships with VC firms to help startups attract funding.
“If you’re a startup using Silicon Valley Bank, it gives the investor a high degree of confidence, because they know it’s a good reputable bank they’re dealing with and that the startup is genuine,” said a local tech executive whose company has been a SVB customer.”
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A company I helped start did its banking at SVB. We sold the company via asset sale in December and cleaned out the last of the accounts a week ago. First Republic is also around that space, largely, I assume, because they want to develop relationships with founders who are likely to do well.
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If I’m a startup, I’m moving my money to a “too big to fail” bank. Because of this I expect some of the other regional banks to come under a little pressure. For very early stage startups this may not be a big issue - ones with << $250k operating funds.
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Many start-up founders would think that the country’s 16th largest bank (which is what SVB was) would be a good choice for one’s money/accounts. Not sure where the dividing line is between ‘too big to fail’ and not, maybe top
8? Regardless tough to fault founders for choosing SVB.
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This matches what a SVB employee told me yesterday.
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That is not for investment banking division. They don’t know their fate yet
30% of YC-backed startups will not be able to make payroll in the next 30 days. 
Seems like it. And no hedge. 
“Only when the tide goes out do you learn who has been swimming naked .”
~ Warren B.
They’re not alone. Everyone’s begging for lower…but, as the man said, “higher for longer”.
We shall see. Getting weird out there.
GL, everyone.
The problem with SVB isn’t that it was too small (in terms of assets or market cap). Its problem is that its business was too concentrated. If your business is concentrated in a single sector, your fortune is completely tied to that sector. SVB didn’t have a diversified business. Its clients are practically all startups. Startups burn cash. With rapidly rising interest rates and source of new funding dried up, cash burn rates increased for nearly all startups. They almost all need to withdraw more money at the same time to keep their businesses going. No bank, large or small, can survive if all their clients want their money back at the same time.
SVB could have managed their interest rate exposure better, but the extended low interest rate environment that existed before made managing interest rate risk a low priority and “costly” at banks like SVB.
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That is common, especially as these employees will not be getting other benefits during this time, except health insurance. Those every day employees know the accounts, the contracts, even how to turn on the systems (water, heat, electricity) in the bank buildings.
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Not quite so easy. When our star-up tech company received VC funding, we were ‘expected’ to use SVB for our banking needs bcos that is the bank our (big name) VC used.
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This is the article I’ve read this week that explains what happened in a “I’m really stupid so explain this to me like I’m dumb” way best.
Gifted 
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