what happened? erica, this happened so fast. it s stunning. silicon valley bank shut down by california regulators after the stock crashed by 60% yesterday after the bank said it needed to rapidly raise cash. this is easily the biggest bank failure since washington mutual fell apart in 2008 during the financial crisis. silicon valley bank, if you haven t heard of it, it is a major lender to tech start-ups. the fdic says that depositors that have $250,000 or less, they are insured here. they will get their money. they will get access to their money as soon as monday morning. but we know that some people, some entities, some start-ups, they have more than $250,000, and it s less clear what s going to happen to them. how did this happen? well, when the fed spikes interest rates, things tend to break. we know that the fed rate hikes have hurt the valuation of the tech companies that this bank catered to, also has hurt the value of the bonds that banks rely on to get cash. erica
reforms, because although we say that reforms, because although we say that a reforms, because although we say that a lot of people are gone, say that a lot of people are gone, 312,000 but even in 2014 304.000 gone, 312,000 but even in 2014 304,000 people left, and they will go 304,000 people left, and they will go for a better standard so what will go for a better standard so what the alternative is is to provide an opportunity here in sri to provide an opportunity here in sri lanka so we can retain them in sri lanka so we can retain them and in sri lanka so we can retain them and there is opportunity for them them and there is opportunity for them but even in india, people for them but even in india, people started to go there in the early 80s and they have come the early 80s and they have come back and starting to come irack come back and starting to come back and come back and starting to come back and i m hopeful if we all work back and i m hopeful if we a