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    Silicon Valley Bank failure could wipe out 'a whole generation of startups'

    The implosion of Silicon Valley Bank could force hundreds of tech startups to lay off workers or shut down completely. It remains unclear how much, if any, of depositors' money will be returned.
    by Bobby Allyn Mar 11, 2023 4 minutes
    Shelf Engine co-founders Bede Jordan, left, and Stefan Kalb

    Stefan Kalb was in the middle of a meeting around 1 p.m. on Thursday when a fellow company executive sent him a panicked Slack message: "Do you know what's happening at SVB?"

    Kalb, the CEO and co-founder of Seattle-based food management startup Shelf Engine, had been following news of a bank run at Silicon Valley Bank, with droves attempting to pull out $42 billion from the bank on Thursday alone on fears that it was teetering on the brink.

    The bank was on firm financial footing on Wednesday. The following day, it was under water.

    For Shelf Engine, a 40-person startup founded in 2015 that uses artificial

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