Showing posts with label SVB failure. Show all posts
Showing posts with label SVB failure. Show all posts

Saturday, March 11, 2023

Silicon Valley Bank: What comes next?


Processing

Those who've read this blog before may notice the headline slide has changed from SVB on Wine to Rob McMillan on Wine. I know I don't need to explain that change. 

This is a horrible message for me to have to write. I was asked to stay silent the past few days by SVB but now that the die is cast, I thought I should sit down and share what I know.

To start with, my employer, formerly known as Silicon Valley Bank, no longer exists. I'm still processing the whole thing, as most people are who are associated with the bank. 

On Friday morning, clients, employees, bank suppliers and shareholders all awoke to the same news: SVB has been taken over by the FDIC. For everyone involved, there is a range of emotions to process; fear, anxiety, anger, and so much more. I'm personally cycling through all of the same emotions.