“This bank was very helpful to the tech community. Dealing with mainstream traditional banks for early stage startups is going to be way more burdensome,” said Manuel Martinez-Herrera, GC of BetterCloud.
March 20, 2023 at 08:12 AM
9 minute read
Silicon Valley Bank’s astonishingly rapid meltdown tested tech’s top in-house lawyers, who flew into emergency response mode to help steer their companies through the chaos.
Greg Raiten, co-founder of the general counsel network and platform TechGC, said the upheaval wrought by SVB’s collapse within the tech in-house community was on par only with the COVID-19 pandemic.
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A woman who’d been in line to enter Silicon Valley Bank’s Santa Clara, California, headquarters on March 13, the first day of business after federal regulators took it over, pauses for a selfie. AP Photo/Benjamin Fanjoy
