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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/03\/09\/it-turns-out-burn-reduction-at-startups-is-more-aspiration-than-reality\/<\/a><\/br> It\u2019s not every<\/span> day that banking news is the big story in the startup world, but here we are. Yesterday the previously crypto-friendly Silvergate Bank announced<\/a> that it would \u201cwind down operations and voluntarily liquidate\u201d itself.<\/p>\n The company\u2019s stock had been under massive pressure in recent months, exacerbated by a note from the bank<\/a> on March 1 that its earnings data would be delayed due to possible internal controls issues. It was also under regulatory inquiry.<\/p>\n The Exchange explores startups, markets and money. <\/em><\/strong><\/p>\n Read it every morning on TechCrunch+<\/a> or get The Exchange newsletter<\/a> every Saturday.<\/em><\/strong><\/p>\n But that\u2019s not the new<\/em> big banking news making waves in startup circles.<\/p>\n Silicon Valley Bank (SVB), a well-known institution in the technology industry that works with venture capital firms and startups alike, announced that it was raising capital via a share sale (among other mechanisms), taking a $1.8 billion charge to divest itself of low-yield assets and double its term borrowing.<\/p>\n<\/p><\/div>\n <\/br><\/br><\/br><\/p>\n
\nIt turns out burn reduction at startups is more aspiration than reality<\/br>
\n2023-03-09 21:47:45<\/br><\/p>\n
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