Month: March 2023

What happened? The Silicon Valley Bank (SVB) said on 8th March 2023, that it was planning to raise $2bn in capital after losses on bonds it sold. This spooked investors and customers which resulted in the share price drop by about 60% by the next day. This resulted in customers withdrawing cash rapidly resulting in a “bank run”. Share price continued to drop as a result. According to Claire Lee, ex SVB employee, This is a comedy of errors; without the comedy. Time of death: after questionable decisions and clumsy communications, panic ensued on March 9th — then clients withdrew…

SkilledUp Life: Sales meeting with a Nigerian Tech Startup. Leadership meeting with a discussion on issuing certificates. Operational support. Paid salary for one employee after getting feedback from Flutterwave. Dealt with failed subscriptions. Techcelerate Ran Series 1 Episode 4 Linkedin Audio – Onboarding customers and customer support with Andrew Threlfall and Russell Groves. Onboarding session for new tech founders: Rezaul Hoque, Joseph Petrie and Craig Taylor supported by Andrew Threlfall. Organising TCLPL4 on Wednesday and TCMCR37 on 15th – invites sent by Nishani. Deal Lite: Prepared deals for the Deal Lite Newsletter which Wishma issued. Shared a screenshot with a…