The panic quickly spread to venture capital firms, which urged their startups to get their money out of the bank while they could, and quickly turned into an old-fashioned bank run. On Friday, Silicon Valley Bank was shut down by regulators.


Officials spent the weekend trying to find a solution that would ensure the survival of the bank’s clients, many of whom are startups. Various startups told media outlets that they wouldn’t be able to pay their employees or keep their doors open without their money.