SVB
Police officers outside SVB's headquarters in Santa Clara, California on Friday.
  • Silicon Valley Bank made a bold call on where to invest cash. It backfired.
  • An old-fashioned bank run sent SVB spinning, but the seeds of its demise were planted months ago.
  • One of the smartest things I've read about this all comes from Marc Rubinstein's Substack Net Interest.

Wondering what the hell just happened at Silicon Valley Bank?