Among other things, SVB was CISCO's first bank, one of its three co-founders lent money to CISCO's two co-founders. 38ys later, at the pick of quantitative easing, something like 50% of venture-backed tech and life sciences company in the U.S. banked with SVB and 69% of the companies in these sectors that had an IPO in 2019 banked with SVB.
Extract transcript from the podcast:
RITHOLTZ: Quite, quite interesting. And our final question what do you know about the world of banking, and startups, and investing today that you wish you knew back in ’93 when you first joined Silicon Valley Bank? BECKER: Yeah, probably the biggest thing — and I think it’s hard until you’ve gone through cycles is to realize that the challenges they will come up, you’ll learn from those challenges, but they’re going to be over a lot faster than you think. You get so caught up in how challenging or how big of an issue it is. You’ll get past it, so don’t stress that as much as you do when those challenges occur. You will get — you will get through it, you’ll be better off, and things will be OKAY.
“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so. “ – Mark Twain
