Birdwatch Note Rating
2023-03-14 13:57:10 UTC - NOT_HELPFUL
Rated by Participant: 1C9E066F7D25E3D2BFD645602AE52B97A9E74C804A9D82FD3264C1BD6264C692
Participant Details
Original Note:
The rapid rise in interest rates was the direct cause of the SVB failure. As interest rates rose, SVB depositors pulled out their deposits, causing SVB to sell bonds at a $1.8B loss. Venture Capitalists then encouraged a run on the bank of about $42B in one day. https://www.fastcompany.com/90864027/why-svb-failed-silicon-valley-bank-collapse
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