PayPal co-founder Peter Thiel at the Bitcoin 2022 conference in Miami on April 7. MARCO BELLO/Getty Images via AFP
DECRYPTION – For entrepreneurs and investors, the sudden fall of this institution is full of lessons.
More fear than harm? After the fear of a major earthquake for the entire Silicon Valley business ecosystem, following the brutal “bank run” of the regional bank SVB, it’s almost a return to “business as usual” for start-ups in the San Francisco area. By insuring 100% of all customer deposits, regardless of their amount, via an emergency mechanism, the Federal Reserve and the American agency in charge of guaranteeing deposits (FDIC) extinguished the panic movement which had been blowing since last Thursday among entrepreneurs and investors in Silicon Valley. “I was able to see on Monday that my collections were continuing on my SVB account and that transfers were guaranteed, except internationally.“, testifies Gilles Samoun, serial entrepreneur, CEO of the start-up Successeve which he founded in the United States and client of the SVB since the 2000s.
On the night of last Thursday, the first emails received from colleagues informed him of “problems” on SVB…
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