After the collapse of SVB bank, biotech startups may suffer greatly
The collapse of SVB Bank is another bad sign that the plush world of Silicon Valley is bursting at the seams. Because of this, biotech startups, which are like mushrooms after the rain, may especially suffer. I'm terribly sad about this, because some of them should save humanity from old age. SVB Bank lent to startups at an early stage, after a series of bankruptcies (New York's Signature Bank, too), it is unclear what percentage of their assets are toxic against the backdrop of an almost dead IPO market. This will only be revealed with time. The Biden administration will try to avoid the fuss as much as possible and will resolve the situation according to the established scheme - they will print more money.
I would like to call out the HR department of SVB Bank, which appointed Joseph Gentile (pictured) as administrative director. He became famous for the fact that until 2007 he sat in the chair of the financial director of the investment bank Lehman Brothers, with the collapse of which began the global crisis of 2008. Cool dude, we will now invest based on where Joseph works.
Author: Yunia Pugacheva
