Today, Term Sheet comes to life as a weekly podcast, hosted by @agarfinks! First-ever guest: @WillHurd, Chief Strategy Officer at CHAOS Industries.
Episode 1 is live here:
In Senate hearing, Fed's Michael Barr says SVB was rated a 3 in the CAMEL scale, which means "not well managed." At the holding company level, it was rated deficient, which is "also clearly not well managed."
1/ Given yesterday evening's very late acquisition news (🥱), let's circle back to what the failure of Silicon Valley's favorite bank will ultimately mean for startup funding: