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Khosla Claims SVB Bust Repercussions Will Last for Months

March 17, 2023
minute read

Billionaire venture capitalist Vinod Khosla predicts that it would take three to six months for the business to resume as usual in the startup industry following the demise of Silicon Valley Bank.

Khosla said that his company, Khosla Ventures, advised portfolio company founders to deposit all money in Silicon Valley Bank with the exception of three months' worth of operating expenses. He stated, "We didn't want to trigger a bank run. Regrettably, not all of our contemporaries followed suit."

The bank's failure is being looked into by American authorities. Khosla claimed he is pushing businesses to reinvest in SVB because the institution is governed by the government and "money is safe" there.

Days before his trip to Washington for a dinner with lawmakers to talk about "our technology race and economic war with China," Khosla said the event was plotted "long before current events" and "it's not really related to TikTok." TikTok, owned by Chinese parent company ByteDance Ltd., is coming under increasing pressure from US lawmakers, who have talked about banning the app entirely in the US.

Peter Thiel and other top tech executives will attend the event, which is dubbed the Hill & Valley Forum and was previously reported by the Wall Street Journal.

“It's connected to the greater technological competition we have for dominance in the field,” according to Khosla. The US and the Western world in general, according to many of us, should invest in technology.

John Liu
Eric Ng
John Liu
Editorial Board
Bryan Curtis
Adan Harris
Managing Editor
Cathy Hills
Associate Editor

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