Silicon Valley Bank is, or was, the 16th largest bank in the country, and now no longer exists. Lots of regular people are already being hurt. jwherrman reports
Not a good day here.Flow Health runs a network of diagnostic labs and provides COVID testing for clients in the entertainment industry. It’s headquartered in Culver City, California, with offices around the country. It employs about a thousand people, none of whom are getting paid this week. “We just have no way,” says Alex Meshkin, Flow Health’s CEO. “It’s a big fucking mess.” He notified his employees this morning. They’re mad, and with good reason.
It’s not that his company isn’t good for it — there’s plenty of money to double up on payroll for a period if that’s what it takes, says Meshkin.
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