Silicon Valley Venture Capitalists Are Breaking Up With China

  • The collapse of Silicon Valley Bank (SVB) has disrupted the technology industry, particularly affecting startups.
  • SVB served as a significant financial backbone for tech entrepreneurs.
  • The bank’s downfall has left many entrepreneurs scrambling to transfer their funds to other banks.
  • Despite the collapse, the Biden administration has guaranteed all SVB deposits above the insured limit of $250,000 per account.
  • This move has provided relief to tech startups, allowing them to continue operations.
  • However, the incident has caused a sense of unease among entrepreneurs and venture capital partners.
  • The collapse has also impacted China’s tech startup and venture capital sector, as SVB served as a bridge between US capital and Chinese tech entrepreneurs.

Read more at: https://www.nytimes.com

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