What the flying heck happened to SVB?

Yesterday morning, we had an inkling that the market was concerned about Silicon Valley Bank when its stock started dipping right after market open in reaction to the financial institution announcing late on Wednesday a share sale, an asset sale, and an increase in its term borrowing.
This column, after summarizing SVB’s financial moves and the resulting market response, opined that those items were not “the super juicy bit” of the news, instead focusing on the bank’s note that startup burn rates were still incredibly high compared to historical norms.
Whoops. It was no

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