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About Venture Capitalist


OpenAI to name new boss after firing co-founder

OpenAI to name new boss after firing co-founder
Nov 20,2023 3:01 am

... The firm s Venture Capitalist backers and the tech giant Microsoft - which has a $10bn stake in OpenAI - are also believed to have called for his return...

Former OpenAI boss Sam Altman boss pictured at firm's HQ amid reports of return

Former OpenAI boss Sam Altman boss pictured at firm's HQ amid reports of return
Nov 19,2023 6:51 pm

... The firm s Venture Capitalist backers and the tech giant Microsoft - which has a $10bn stake in OpenAI - have also called for his return, according to the FT...

Ukraine: The soldiers who can't leave the front line until the war is over

Ukraine: The soldiers who can't leave the front line until the war is over
Sep 26,2023 6:31 am

... " Yurii, " a twenty-something Venture Capitalist from Kyiv, is one of the talented incomers...

The US interest-rate decision the world is watching

The US interest-rate decision the world is watching
Mar 22,2023 8:50 am

... Instead they slammed on the brakes and now we have a car crash, " Venture Capitalist David Sacks wrote on Twitter in the wake of the bank failures...

Silicon Valley Bank share slump rocks financial stocks

Silicon Valley Bank share slump rocks financial stocks
Mar 10,2023 1:20 am

... One Venture Capitalist told the BBC the day s events were " wild" and " brutal"...

Skilled tech workers snapped up despite downturn

Skilled tech workers snapped up despite downturn
Dec 15,2022 9:21 pm

... But Venture Capitalist Lu Zhang views it another way...

Nancy Pelosi: Man charged with attempted kidnap and assault

Nancy Pelosi: Man charged with attempted kidnap and assault
Oct 31,2022 4:21 pm

... The Venture Capitalist - who has been married to Mrs Pelosi since 1963 - is expected to make a full recovery, her office said in a statement...

US midterms predictions: The top US Senate races to watch

US midterms predictions: The top US Senate races to watch
Oct 24,2022 12:50 am

... Republicans nominated JD Vance, 38, a Venture Capitalist who achieved widespread fame with his best-selling 2016 memoir-turned-Netflix-film " Hillbilly Elegy"...

Silicon Valley Bank share slump rocks financial stocks

Jun 18,2022 5:25 am

By James Clayton , Peter Hoskins and Annabelle Liangin San Francisco and Singapore

Shares in Silicon Valley Bank (SVB), a key lender to technology start-ups, plummeted on Thursday as investors moved to withdraw their deposits.

The slide came After The Bank announced a $1. 75bn (£1. 5bn) share sale to help shore up its finances.

Shares in banks have fallen around The World - with The Four largest US banks, including JP Morgan and Wells Fargo , losing More Than $50bn in market value.

One Venture Capitalist told The Bbc The Day 's events were " wild" and " brutal".

On Friday, shares in Asian banks were also trading lower.

Shares in SVB saw their biggest one-day drop on record as they plunged by More Than 60% and lost another 20% in After -hours Trade .

After losing around $1. 8bn when it offloaded a portfolio of assets, mainly US Treasuries.

But more concerningly for The Bank , some start-ups who have money deposited have been advised to withdraw funds.

Hannah Chelkowski, founder of Blank Ventures, a fund that invests in financial technology, told The Bbc The Situation was " wild". She is advising companies in her portfolio to withdraw funds.

" It's crazy how it's just unravelled like this. . The interesting thing is that it's The Most start-up friendly bank and supported start-ups so much through Covid. Now VCs are telling their portfolio companies to pull their funds, " She Said .

" It's brutal, " she added.

A crucial lender for early-stage businesses, SVB is The banking partner for nearly half of US venture-backed technology and healthcare companies that listed on stock markets Last Year .

SVB did not immediately respond to a BBC request for further comment.

In The wider market, there were concerns about The value of bonds held by banks as rising interest rates made those bonds less valuable.

Central banks around The World - including The US Federal Reserve and The Bank of England - have sharply increased interest rates as they try to curb inflation.

Banks tend to hold large portfolios of bonds and as a result are sitting on significant potential losses. The Falls in The value of bonds held by banks is not necessarily a problem unless they are forced to sell them.

But, if like Silicon Valley Bank, lenders have to sell The bonds they hold at a loss it could have an impact on their profits.

" The Banks are casualties of The hike in interest rates, " Ray Wang, founder and chief executive of Silicon Valley -based consultancy Constellation Research told The Bbc .

" Nobody at Silicon Valley Bank and in a lot of places thought that these interest rate hikes would have lasted this long. And I think that's really What Happened . They bet wrong, " he added.

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Source of news: bbc.com

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