Silicon Valley Bank’s sudden collapse is a wakeup call for entrepreneurs
Atlanta's David Cummings offers four immediate recommended actions in a column titled "Bank Hygiene for Start-ups."
The sudden collapse of Silicon Valley Bank (SCB) on Friday, much like the Titanic quickly sank in 1912 after hitting an iceberg, created chaos for many tech start-ups and those who support them.
Not surprising, David Cummings, Founder of the Atlanta Tech Village and also Founder and Chief Executive Officer of Atlanta Ventures, was quickly out on Saturday with a column titled “Bank Hygiene for Start-ups.” He notes that SVB worked with half the venture capital-backed companies in the U.S., and according to PitchBook, there are 130,000 such businesses.
Cummings offers four actions that entrepreneurs should immediately take. His column can be found here.