Forget the 'Twitter-fueled bank run.' SVB was doomed by a network of wealthy VCs warning founders to pull funds 'as fast as possible' in private, sources say

Forget the 'Twitter-fueled bank run.' SVB was doomed by a network of wealthy VCs warning founders to pull funds 'as fast as possible' in private, sources say

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Politicians called the dramatic collapse of Silicon Valley Bank the “first Twitter-fueled bank run.” But in the highly networked tech industry, public social media feeds didn’t actually drive the fast-growing anxiety over SVB’s financial position — that happened in private. Channels like messaging…

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