Two big Silicon Valley banks failed when the easy money ran out - and that could be just the start.

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Phew. Hey there. Senior reporter Phil Rosen here. Before we jump into the newsletter, the Silicon Valley Bank saga is continuing to unfold, so let's quickly break down the latest.

Why Silicon Valley Bank failed

Tech Insider : Business
SVB
Police officers outside SVB's headquarters in Santa Clara, California on Friday.

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Silicon Valley is on a knife-edge after the collapse of SVB

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Hi, I'm Matt Turner, the editor in chief of business at Insider. Welcome back to Insider Today's Sunday edition. With the failure of Silicon Valley Bank, we're witnessing the biggest bank collapse since the 2008 financial crisis. We're diving into that and much more today.

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Some Silicon Valley Bank customers are selling their deposits at big discounts to raise cash quickly, reports say

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A worker (C) tells people that the Silicon Valley Bank (SVB) headquarters is closed on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the US Federal Deposit Insurance Corporation.
Regulators shut down Silicon Valley Bank on Friday.

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How much will Silicon Valley Bank customers get back from the money they deposited? They may not recover it all, analysts say.

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Money under lock
Money under lock

Aslan Alphan/Getty Images

Silicon Valley Bank's collapse means startups and VCs face billions in losses

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A man stands outside Silicon Valley Bank
Silicon Valley Bank was shut down Friday by regulators.

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Hundreds of startups face a crippling cash crunch and an 'extinction-level event' if no one buys Silicon Valley Bank by Monday

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SVB HQ
Silicon Valley Bank's HQ in Santa Clara, California

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Paul Krugman says Silicon Valley Bank could've been called the 'Schmoozing and Vibes Bank,' but it's probably not another 'Lehman moment'

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Paul Krugman
Paul Krugman said it appeared "at most like a fairly narrow sectoral crisis."

Brendan McDermid/Reuters

Buy the dip in banks as the Silicon Valley Bank crisis is unlikely to spread, Goldman Sachs says

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Silicon Valley Bank
Silicon Valley Bank

Rafael Henrique/SOPA Images/LightRocket via Getty Images

Roku discloses it has $487 million in deposits at failed Silicon Valley Bank. That’s 26% of its cash.

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The Roku TV lineup pictured in various sizes.
Roku disclosed that it held 26% of its cash at SVB which was largely uninsured.

Roku

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