Silicon Valley Banks bankruptcy and Chinese entrepreneurs: account money has not

Silicon Valley Bank (SVB) one night bankruptcy, also affected Chinese entrepreneurs.Some Chinese entrepreneurial understanding revealed that the money of Silicon Valley Bank has not changed, and everything happened too fast.

According to the First Financial Report, the Chinese medical startup entrepreneur Andy (pseudonym) said in March 11 friends saying: "I did not expect to wake up, and they actually caught up with the bank bankruptcy and their lives were complete."Most of his company's assets have Silicon Valley Bank, which is mainly used for wages of US offices.

Another industry insider talked about the negative effects of the Silicon Valley bank incident that some startups lost hundreds of millions of yuan (about S $ 20 million) because of this.

The well -known American entrepreneurial incubator Y Combinator CEO is the consequences of Silicon Valley Bank as "the extinction level of startups".Silicon Valley Bank, next week, can not even pay wages and rent, and the upper limit of the insurance company's claims is $ 250,000 (S $ 337,000).

Internet investor Zhuang Minghao said that if it was said that in the past 20 years, the explosion of Internet+VC complement Silicon Valley, which also created SVB, a special "bank".Today, the grand narrative of the entire Internet has gone, and the so -called Internet+Silicon Valley's myth has also begun to become history.

Silicon Valley Bank, which was established in the United States in 1983, was once considered the "gold master" and "life pulse" of startups. When the high -speed development of the high -tech industry in Silicon Valley, it was based on low interest rate fundraising and facing the big -oriented face -oriented.The small and medium -sized enterprises that the banks have not yet paid attention to quickly opened up the flexible development path and successfully helped star companies such as Facebook and Twitter.

In order to allow its invested companies to obtain the amount of risk debt, Zhan Yi identified that many venture capital institutions will ask the invested company to open an account in SVB as soon as possible, accumulate records and financial information, and store the investment funds to the that should be the case.In the account, reduce exchange costs and procedures.Since then, with the trust and dependence of SVB in the old -fashioned or large startup agencies, almost all have SVB accounts to gain investment or start -ups in Silicon Valley.However, this characteristic makes Silicon Valley banks particularly sensitive to the prosperity of the industry and the depression cycle.

Andy revealed: "From yesterday (10th) we have been trying to transfer money, but before the transfer, the bank went bankrupt first, everything happened too fast." At presentThe status of the bank website is being maintained.

However, because of the small size of the company, Andy's company has not much dollars in Silicon Valley Bank's dollar funds, involving hundreds of thousands of dollars of funds.In his circle of friends, many Chinese startups also have Silicon Valley Bank.