Silicon Valley Bank Collapses: BetterUp and Tech Startups in Trouble

Silicon Valley Bank (SVB), the bank of choice for high tech startups, has collapsed, causing a run on the bank.

93% of all $16 billion in deposits are uninsured.

The bank has been shut down and has gone into receivership, with limited reopening by the Feds on Monday.

This is terrible news for tech companies in the US, as the federal government, via the FDIC, will be in control and privy to all kinds of details of dirty deals done in Silicon Valley.

BetterUp, a San Francisco-based startup company, may find themselves in a major cash crunch.

The bank's collapse means cutting back on unnecessary expenses and no IPO for quite some time.

Harry, the Chief Impact Officer of BetterUp, was hired in March 2021, and is believed to be paid a six-figure salary.

If he has a green card, losing his C-suite could affect that status.

More importantly, Harry's days of living in the San Francisco condo, doing alleged hard drug parties with BetterUp execs may be coming to an end, as BetterUp execs will need to start acting like grownups so that they can keep the lights on.

It has been rumored that the staff at BetterUp can't stand Harry anyway.

We know the only reason the firm hired Harry is because of his royal blood and title.

He has no degree or qualifications, no skills, work ethic, or work experience.

He only passed high school because his teachers were generous markers.

On the 9th of March, Harry sat down for a live stream chat with the CEO of BetterUp, Alexi Robichaux.

During the 30-minute Q&A, Harry couldn't stop gushing over BetterUp, telling CEO Alexis that he offered its services to all his employees at his own company, Archwell.

“I've seen first-hand what coaching can do,” he added.

“For me personally, I get so much out of helping other people.

It's what gets me out of bed every morning.”

Alexis was asked why he'd hired the Prince in the first place, and he said that he and his co-founder Eddie Medina asked themselves a few key questions.

“Who are luminaries in the world?

Who are leaders?

Who's talking about this?”

It was a very short list, in fact, it was one person, he continued, before addressing Harry.

“It was a dream come true to be able to work with you.”

Meanwhile, Harry could see his visa revoked after admitting to using drugs in a televised therapy session.

Speaking to famed therapist Dr. Gabor Matei for his program The Myth of Normal, Trauma, Illness, and Healing in a Toxic Culture, Prince Harry said he started using drugs after realizing that they helped him cope with trauma.

Piers Morgan pointed out that US officials take a dim view of drug use by non-US citizens, as he noted the Duke of Sussex's US stay could now be at risk.

The collapse of Silicon Valley Bank is massive news, as it means the federal government will be in control and privy to all kinds of details of dirty deals done in Silicon Valley.

This is terrible news for tech companies in the US, especially high tech startups like BetterUp.

The bank was the 20th largest bank in the nation and the bank of choice for high tech startups.

On the plus side, BetterUp may find themselves in a major cash crunch, which means cutting back on unnecessary expenses and no IPO for quite some time.

In conclusion, the collapse of Silicon Valley Bank has far-reaching implications for the tech industry in the US.

BetterUp and other high tech startups will need to adapt to the new reality and make tough decisions to keep their businesses afloat.