Silicon Valley Bank gave the tech industry 40 years. The tech industry couldn't give Silicon Valley Bank 40 hours.

Fri, 03/10/2023 - 18:01

A locked door to a Silicon Valley Bank (SVB) location on Sand Hill Road is seen in Menlo Park, California, U.S. March 10, 2023. — A locked door to a SVB location in Menlo Park, California, on Friday. The announcement on the door was from the FDIC, which took control of SVB on Friday.
Jeffrey Dastin/Reuters

Silicon Valley Bank was shut down by regulators on Friday.
The bank has long been a key piece of the tech community.
Venture capital firms were quick to turn their back on the bank that has served them for decades.

Silicon Valley Bank was shut down by regulators on Friday morning, a stunning end to a bank considered a key player for the tech industry for decades. People are already looking to point fingers.