Tech startups race to keep up with payroll after Silicon Valley bank collapse

Technology start-ups and other companies competed for funding sources for payroll and other pressing needs. Silicon Valley Bankhas long been a cornerstone of tech finance, but it was locked.

Federal authorities ruled Friday morning.

Sudden bank collapse Uncertainty has increased among many founders about the immediate future of the business. Made the startup sector even more difficult Suffering from a sharp slowdown in venture funding, Broader economic hardshipIts demise is likely to further accelerate the shift away from the high-risk, aggressive growth strategies adopted by startups during the multi-decade-plus bull market that ended last year, according to longtime startup investors.

https://www.wsj.com/articles/after-silicon-valley-bank-fails-tech-startups-race-to-meet-payroll-4ebd9c5c?mod=pls_whats_news_us_business_f Tech startups race to keep up with payroll after Silicon Valley bank collapse