What does Silicon Valley Bank's fall mean to start-up ecosystem?
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An attempt to raise capital gone terribly wrong - that is the simplest way to put Silicon Valley Bank's (SVB) current situation. The Santa Clara, California-based bank's stock, a key lender to technology start-ups, took a plunge in the market on Thursday. Its shares fell by over 60% as investors moved to withdraw their deposits from the bank. This forced companies to pull their cash out of the bank, which resulted in SVB trying to raise capital.