The main bank serving Silicon Valley startups and venture capitalists collapsed in 2023

Explaining the collapse of Silicon Valley Bank

In March 2023, Silicon Valley Bank—the nation's 16th largest bank at the time—collapsed after a rapid run on its deposits. Among other factors, the bank had placed more than half of its investments into long-term bonds, leaving it without the necessary cash on hand as its clients, largely start ups, panicked and withdrew their money at the same time. This visualization lays out the timeline and impact of the collapse.

In 2023, venture capital firms invested $170B in over 15,000 US companies

That's a significant drop from 2022’s $242B, reflecting market uncertainty but continuing VC’s role in scaling transformative ideas. Rooted in early risk-sharing models, venture capital took off with firms like ARDC in 1946, later evolving into today’s influential players like Sequoia Capital and Andreessen Horowitz.

The top 100 companies in Silicon Valley

Silicon Valley has pumped out some of the biggest companies in the world, including Apple, Meta, and Google. Thousands of companies operate in the area, ranging from valuations in the trillions to startups only worth thousands.

Worth more than $14T, Silicon Valley may be getting too expensive for future founders

Silicon Valley, the 1,800-square-mile hub of tech innovation, reached more than $14T in market value in 2024. Home to industry giants like Apple and Adobe, its influence is undeniable. But rising costs and corporate relocations raise questions about its future.

USDC's reserves were held at Silicon Valley Bank when the bank collapsed

One of the world's largest stablecoin's reserves were held at Silicon Valley Bank, which famously failed in March 2023. USDC briefly lost its peg to the US dollar for a time as a result, within investors pulling out billions of dollars.

The worst US bank runs since 1900

From the Panic of 1907 to the Silicon Valley Bank collapse in 2023, this bank scholar and former Fed official goes into the history of the country's worst bank runs.

The 2024 Synapse collapse took $90M of people’s life savings with it

In 2024, a banking middleman called Synapse declared bankruptcy. Unfortunately, it also locked roughly 100,000 Americans out of their own money, which prompted a class action lawsuit.

Investment banking giant Lehman Brothers filed for bankruptcy in September 2008 when it had $619B in debt, making it the largest bankruptcy ever in the US

Nearly all of its 26,000 employees immediately lost their jobs. But in London, a few hundred remained tucked away, working for another decade to wind down the bank’s European business.

The name 'Silicon Valley' arose from the founding of Shockley Semiconductor Laboratory in Fairchild Semiconductor in 1956-57, founded near Stanford University in Palo Alto

OpenAI CEO Sam Altman has called OpenAI 'the most capital-intensive startup in history'

As of 2024, Silicon Valley was set to spend $1T in the coming years building AI. As companies, including Google and Microsoft, fling billions at AI dreams, concerns are rising about whether that money will ever be recouped. To learn about the argument that there is an AI bubble—and that it could soon burst if AI doesn't prove its worth—read this article.

SoftBank lost billions of dollars on WeWork. Meanwhile, WeWork’s founder walked away a billionaire

In the years leading up to WeWork’s bankruptcy, the tech holding company SoftBank invested roughly $16B into the company.

The dot-com boom sent tech stocks soaring before a historic collapse

A look at the dot-com bubble, when investors poured money into unproven internet startups, driving the Nasdaq to dizzying heights before it crashed by more than 80% after 2000, showing how new technologies can detach markets from reality.

See a website that tracks layoffs

A startup founder has been tracking tech layoffs since 2020. In 2025, 124,201 tech employees were laid off, per the website.

FTX, one of the world's largest crypto exchanges, collapsed in 2022

As crypto markets declined during the post-pandemic slowdown, Sam Bankman-Fried propped up the markets with billions he'd earned leading FTX, one of the largest crypto exchanges. Then, in one of the most rapid financial implosions in modern history, the exchange collapsed as investors rushed to withdraw money.

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

Theranos and Pets.com are among some of the biggest startup failures ever

You might have heard of Theranos, Elizabeth Holmes’s one-time blood testing company that landed the founder in prison for more than a decade after she was charged with fraud. The rest of the startups on a list of five of the biggest startup failures ever might not be as famous as Theranos, but they were met with similarly disastrous fates.

Visa Founder Dee Hock abruptly left the company in 1984.

Hock was arguably an unlikely candidate for the founder of one of the most successful banking organizations of all time. He grew up extremely poor in rural Utah without indoor plumbing, but would go on to create one of the most innovative financial technologies of the 20th century.

Fintech relies on technology, not physical location, to serve financial customers

Most of the industry's prominent players were created since 2010, and are still in a growth phase. These institutions have broadly disrupted traditional banking and have pushed physical banking locations toward obsolescence.

Cyan Banister, once homeless, was an angel investor in Uber, SpaceX, and DeepMind

Cyan Banister has invested in more than 100 companies, building a reputation in the angel-investing world for her unorthodox approach.

Steve Jobs saved a nearly bankrupt Apple

Apple nearly went bankrupt in 1997, when the tech company had only three months of operational cash left. Apple's board ousted cofounder Steve Jobs in 1985, but he was brought back as interim CEO to revive the company when Apple purchased Jobs' company, NeXT.

Banks have increased small loan programs since 2018, upping competition for payday lenders

One of the reasons payday lending flourished for nearly two decades is that most banks charged high overdraft fees and didn't offer small loans. However, since 2018, banks have increased their small loan options. Supporters say this provides safer alternatives for consumers, as banks are subject to more regulatory measures and are less likely to allow consumers to keep rolling over loans.

Explore Bessemer's anti-portfolio of missed opportunities

From Pinterest to Yelp, Bessemer Venture Partners—one of the most well-known VC firms—has invested in many successful companies over the years. But the firm has also kicked itself for passing on a few great opportunities, like Apple and Google. Check out the other companies in Bessemer's "anti-portfolio" here.

In 2020, Palantir moved its headquarters from Silicon Valley to Denver, CO

Despite being a famous tech startup synonymous with Silicon Valley, Palantir executives and cofounders have criticized tech founders for not taking a bigger role in upholding Western institutions and supporting American defense and intelligence work. That cultural tension is frequently cited as a motivating factor for the company's 2020 move to Denver, CO. In early 2026, the company announced another move to a suburb of Miami, FL.

What is Silicon Alley?

The term "Silicon Alley" refers to an area in New York City once known for its high-tech startups, especially during the dot-com boom. Silicon Alley ran from New York City's Flatiron District through Soho to the Financial District. After the dot-com bubble burst, tech companies spread out through the rest of Manhattan and Brooklyn. Learn more about the area and how it compared to Silicon Valley in this article.

Visual Capitalist projects the fastest-shrinking jobs in America by 2034

According to the US Bureau of Labor Statistics, there will be fewer jobs for cashiers, bank tellers, data entry clerks, and more over the next decade.

Palm-scanning is the future of digital payments

Owned by Tencent, WeBank was China's first digital bank and services 340 million customers. Leveraging its parent company's technology portfolio, WeBank is determined to make palm-scanning the biometric equivalent of the credit card.

How ‘vulture’ hedge funds make money

Some hedge funds specialize in snapping up distressed assets, like failing newspaper chains, and further stripping down their operational expenses in a bid to make a profit from the initial capital outlay. Delve into how one secretive firm known for the practice operates—and what’s at stake for the broader economy.

In 2025, four executives from large tech companies were given positions in the US Army Reserves—including Palantir Chief Technology Officer Shyam Sankar, which reinforced Palantir's ties with the US military and its role as a leading defense partner.

SpaceX's S-1 or 'prospectus' revealed many previously unknown details about the company, including its unprofitability despite doing $18.7B in revenue in 2025, exactly how many voting shares Elon Musk will have in the company (roughly 85%), and more.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

A vending machine run with Anthropic's AI went out of business after it was convinced to give away items for free and sell a video game console.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

Discover the catastrophic consequences of a failure of the US electrical grid—something that is more likely than many Americans think.

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

70 years ago today, city officials in Santa Cruz, California, banned rock 'n' roll to protect its youth from corruption after witnessing a 'provocative' concert the night before.

In 2019, a laptop loaded with six of the worst malware in history and described as 'an exhibit of historical weaponry' sold for $1.3M.

Most of the observable universe's volume consists of voids and supervoids—enormous regions of space with little to no galaxies, stars, or light.

A 2019 Facebook event called on attendees to "Storm Area 51, They Can't Stop All of Us," resulting in countless memes, the creation of a music festival, and eventually the arrests of those who did try to approach the area.

After 25 people used virtual reality headsets to practice flying with virtual wings—flapping their arms—their visual cortex responded to the wings almost as if they were real arms, treating them as body parts.

Budweiser stores yeast derived from the original 1800s strain in a secret bunker, which only the Head of Yeast Management can access—not even the CEO

In 1945, Surrealist artist Salvador Dalí and legendary animator Walt Disney began collaborating on a short film that was not completed until 2003, years after both men had died.

Watch contemporary footage covering the US-backed Shah of Iran fleeing the country in the face of the 1979 Iranian Revolution

The use of fungi to detoxify land and water—a process known as mycoremediation—has been used to clean up natural resources affected by the 2025 California wildfires.

Ebola infects and disables immune cells, triggering a cascade of events that leads to small blood clots throughout the body, weakening blood vessels and interrupting blood flow to key organs.

Massive 3D printers have been used to build homes by stacking layers of 'concrete toothpaste,' a fire-resistant material that effectively insulates against outside noise.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

After the Boston Tea Party, colonists switched to coffee, which became the main morning drink for revolutionaries.