Saudi Press

Saudi Arabia and the world
Monday, Sep 08, 2025

'I don't know how this ends': Mom with 4 kids in Ohio who owns small startup says SVB mess is not just a '1% problem'

'I don't know how this ends': Mom with 4 kids in Ohio who owns small startup says SVB mess is not just a '1% problem'

The collapse of Silicon Valley Bank has sent the tech world into a spiral. For smaller startups, the fallout could be life-altering.
The collapse of Silicon Valley Bank this week has sent companies from Etsy to Roku into disarray. But for some smaller startups, the bank's shutdown is particularly harsh.

"The collapse of SVB might look like a 1% problem that only impacts the coastal-tech-elite. Not true," wrote Lindsey Michaelides on Twitter. Michaelides is the founder and CEO of the startup Strongsuits, which sells organizational software.


"This impacts small businesses made up of hard-working people making modest mortgage payments in the midwest," Michaelides continued. "This impacts parents putting dinner on the table."

Silicon Valley Bank, a major financial institution that frequently worked with startups, collapsed days ago, throwing the tech world into a spiral. The bank, which just last month ranked among the top 20 in Forbes' list of best US banks of 2023, was shut down by regulators Friday and the FDIC took over control.

The collapse has affected companies like Etsy, forced to delay payments to many who sell goods on its site. Other major companies impacted by the collapse include streaming device-maker Roku, which had nearly $500 million in the bank, and the online video game platform Roblox.

In a lengthy Twitter thread, Michaelides described her risky decision to launch Stronguits in 2018 just after her second child was born. She soon learned she was pregnant again with twins, but kept pushing to make Strongsuits work, she wrote.

"I grew the business while navigating a high-risk pregnancy. I'd stop to see my ob en-route to the airport to get cleared to travel," she wrote. "Later, I pitched via Zoom well before it was acceptable. The hard work paid off. I secured our 1st investor shortly after my twins were born."

Now, Michaelides isn't sure what will happen to Strongsuits and her 15 employees, or what's next for her family.

"I don't know how this ends. I know that the financial future of Strongsuit; my team and my family are at risk w/ the collapse of SVB. I know that my story and the stories of thousands like me that have been impacted by SVB's collapse do not match the current narrative," she wrote. "
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
×