The Wall Street JournalThe Wall Street Journal

How Silicon Valley turned on Silicon Valley Bank

By Ben Foldy and Rachel Louise Ensign, Justin Baer

12 Mar 2023 · 8 min read

Editor's Note

It took four decades to build SVB into the go-to bank for startups and 36 hours to dismantle it, the Journal writes. The lender paid the price for a basic flaw: A mismatch between deposits and assets.

Max Cho found himself in the middle of a bank run while sitting on a shuttle bus in Montana.

The co-founder of insurance startup Coverage Cat, Mr. Cho had landed at the Bozeman airport Thursday and boarded the bus for the hourlong drive to a startup founders’ retreat in Big Sky.

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