Svb

On Tuesday, David Cohen (Techstars co-founder/chair) and I did an AMA for Techstars founders about the SVB crisis. The team at Techstars turned it into a podcast for our Give First series . The teaser from the podcast follows: The fall of SVB will go down in history as one of those ‘where were you when …’ moments. For David Cohen, he was sitting at a sporting event when his phone began buzzing incessantly. For Brad Feld, he was couch shopping with his wife. ...

Since the middle of last week, there has been extreme stress on founders, startup leaders, and the extended startup community. This stress accelerated on Friday when the FDIC shut down and took over Silicon Valley Bank. By late Friday, anyone who banked with SVB was concerned about … well … everything. Once it became clear that payroll accounts needed to be funded on Monday to make Wednesday’s payroll, we focused on the immediate short-term to ensure our portfolio companies’ thousands of employees got paid on time. We bank at SVB, so our maneuverability was also unknown, so we searched for what I’d consider heroic options from various sources. ...

Today Silicon Valley Bank (SVB) announced their support for Global EIR , a cause for which I care deeply. As you may know, over breakfast in 2015 Jeff Bussgang and I launched Global EIR with the hope of advancing the startup visa effort on a local and state level after it stalled in Congress. Since then, Global EIR has grown to 13 university programs across the country, helping 42 international founders start companies. These companies have created 123 new jobs and raised $29.9 million in investment for the US economy. And there is still an overwhelming demand of visionary international founders that want to start companies in the US. If Global EIR can raise $300,000 this summer, they can scale rapidly over the next 18 months, with an ultimate goal of helping over 10,000 founders per year. ...

On Thursday March 6th I’m doing my first public talk about my newest book – Startup Boards: Getting the Most Out of Your Board of Directors . If you’ve got a copy, bring it and I’ll sign it. If you don’t have a copy, our friends at Silicon Valley Bank have sponsored one for each of you. But don’t be bashful, every good writer loves it when you buy a book also, even when he gives one away. ...

Last night I gave a talk hosted by SVB at their Palo Alto office. It was part of the “Never Ending All Old Is New Again Venture Deals Book Tour.” I had a ton of fun talking to and answering questions from about 75 entrepreneurs who – at the minimum – enjoyed eating the great food and wine that SVB provided on a luscious evening in Palo Alto. Oh – and I signed a bunch of copies of Venture Deals. ...