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Peter Thiel’s Founders Fund tells its companies to yank funding from Silicon Valley bank.
Silicon Valley Bank, one of the most important banks for startups, said it would sell stock after the slowdown in VC funding and losses on some investments left a hole in its balance sheet. This does not seem to be the same situation as Silvergate, for what it’s worth.
But Founders Fund is advising its companies to pull the money all the same.
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