Startups Ponder What's Next As Silicon Valley Bank Finds Buyer

CBS San Francisco

March 28, 2023

REDWOOD CITY -- Leaders in the startup community remain optimistic about the strength of their industry and the role the Bay Area plays in driving innovation weeks after the collapse of Silicon Valley Bank.

Depositors of SVB learned on Monday they would now have accounts with First Citizens Bank.

"All I saw was a lot of breathless panic and a lot of memos being sent out that you should pull your money out of SVB," Puni Singh Soni remembers about the immediate aftermath of Silicon Valley Bank's failure earlier in the month. "But those three days weren't easy. We really were asking ourselves how are we going to make payroll on Monday morning."

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