The collapse of Silicon Valley Bank left many companies, mostly startups, scrambling for cash. One such company was Asian food startup Omsom. The company told customers at the time that it had all of its capital in an account at SVB. In the premier episode of the second season of Lead This Way, Omsom co-founder Vanessa Pham tells Yahoo Finance's Brooke DiPalma the lessons she learned from the crisis. Click here for the full Lead This Way episode featuring Omsom co-founder Vanessa Pham. Editor's note: This article was written by Stephanie Mikulich.
There are more than 4,000 banks in the U.S. The argument for having many can be traced back to arguments as the nation was founded.
Climate-focused startups and their VC backers now likely face higher finance costs and less attractive funding options in the wake of Silicon Valley Bank's collapse.