Tech execs race to save startups from ‘extinction’ after SVB collapse

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By Jeffrey Dastin, Anna Tong and Krystal Hu PALO ALTO, California (Reuters) – Technology executives, prominent venture capitalists and founders including OpenAI CEO Sam Altman raced this weekend to keep alive companies caught up in the collapse of Silicon Valley Bank. Friday’s dramatic failure of the bank, which focuses on tech startups, was the biggest since the 2008 financial crisis. It roiled global markets, walloped banking stocks and left California tech entrepreneurs worrying about how to make payroll. Aiming to avoid what Garry Tan, the CEO of startup accelerator Y Combinator, called a …

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