Silicon Valley Bank collapses and FDIC takes over


Breaking news today regarding the failure and collapse of Silicon Valley Bank, one of the oldest banks in Silicon Valley to be used by generations of technology startups. Steve Crowe and Mike Oitzman discuss the situation and the likely fallout and impact to robotics companies and the venture capital industry that supports them.

Also on the show today we (unrelatedly) interview Rylan Hamilton, cofounder and CEO of 6 River Systems. Mike had the opportunity to sit down with Rylan and talk about Rylan’s start in robotics with Kiva Systems and how he concepted and built 6 River Systems into a leading AMR manufacturer that’s now a major part of the Shopify family.

It’s a great interview about the importance of putting the customer first and starting with a problem, rather than a solution.

Links from today’s show:

Silicon Valley Bank collapse live blog (Bloomberg)
Plus One Robotics raises $50M Series C funding round
John Deere acquires SparkAI’s human-in-the-loop tech
Michael Kohen, founder and CEO of SparkAI on the podcast in episode 91
6 River Systems website

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