Darrell Sorenson on LinkedIn: #utah #siliconvalleybank (2024)

In venture, the growth rate justifies the burn rate, at least for post PMF companies. High burn? That's fine, but the growth rate should be somewhat commensurate with that burn (burn multiple). Boy was 2H 2022 and 2023 stinky in venture. Very few fresh financings. A lot of folks probably still think venture is stinky. But boy oh boy am I encouraged by the next crop of emerging companies in this new world of capital efficiency.Healthy growth rates AND prudent burn multiples. #utah #venture

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Since joining SVB at the start of the year, I’ve been asked, “Why SVB?”. First a sidetrack on VC equity, and selecting the right VCs.Over the years, I’ve counseled management teams when considering equity options, to not simply go for the highest valuation. Sure, terms matter, but who you take those terms from (and their track record when things don’t go to plan) matter even more. In venture, it’s really about the ‘eventual outcome’ more than the immediate gratification of the highest valuation. Taking equity from a ‘tourist VC’ is riskier, particularly if they have poor incentives or a track record of supporting companies. Great VCs support with additoinal equity and/or aid the company to a soft landing when the going gets tough.For venture debt/banking it’s the same. The terms really do matter...but who you take the terms from...can matter even more, especially if the Company deviates moderately from plan. When I was looking to make a career change, SVB was at the top of my list. Why? ·SVB has 40+ years doing Venture Debt·SVB speaks Venture Debt most fluently, with 1500+ bankers focused solely on the technology sector, and largest market share. ·SVB cares tremendously about its reputation as having the softest approach when a company underperforms (happens regularly in venture)·SVB continues to attract strong talent and clients, post First Citizens merger (very safe, stable). Not a tourist (many platforms try it for a few years and then exit the product set abruptly).#SiliconValleyBank #VentureDebt

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Kent summed it up best here. Great event with a great group of VC-backed founders in and around AI. Full house at SVB’s office!

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Last call! Utah Startup Execs and Investors! Come join us for a Lunch & Learn – AI Discussion on Monday 5/20 at the SVB Office in Cottonwood Heights. Look forward to hearing from these leaders offering AI and/or leveraging AI tools to get more stuff done. Listen in to the following panelists: Peter West @ Qualiti, Brad Moss @ Enhanced Ai, Austin Winfield @ Anagram, Lihong Hicken @ TheySaid | Unlock New Growth from Existing Revenue, and Cory Linton @ Mojo AI - moderated by Natasha Allen @ . Thank you to Klint Lewis, CPA @ Tanner LLC and Jeff Bowman @ for co-sponsoring with Silicon Valley Bank. Registration in the Comments!#Utah #AI #Tech

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Just in case anyone was wondering how active SVB is in the venture debt market. Yes, we do small deals too:) Congrats Jyoti and the entire team at Harness.

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Happy 5 de Mayo!A great reminder of courage, effort, and faith. Hats off to the humble rancheros turned guerreros of Puebla, who against all expectations, handily defeated the French Army using shovels and pitchforks. It reminds me of the ancient Nephite people when faced with a much larger army: “Nevertheless, the Nephites were inspired by a better cause, for they were not fighting for monarchy nor power but they were fighting for their homes and their liberties, their wives and their children, and their all, yea, for their rites of worship…”Side note - I’m reading an under appreciated book called The Book on Mind Management by Dennis R. Deaton. It’s amazing what humans can do when they’ve decided what they will do!

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Excited for this VC Reverse Pitch, and glad Silicon Valley Bank could be part of this! Great line up VCs with several more from Utah to be announced soon as part of the line up.

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Just got back from Honduras with the family!Things are very different in Central America vs. US. Unique economic challenges are addressed in ways that are adapted to them. Economic constraints actually help drive innovation – or at least reasonable responses to one's environment. Case in point. Water, fruit drinks, and frozen treats sold in bags. Water or desserts that would have had to cost ~$1 in a thick bottle can now cost 5 or 10 friggin cents in a bag! And it does in many cases! Another case in point. Minitaxis (not a real word). Or even Bicitaxis. Internationals and immigrants tend to excel at entrepreneurialism. Perhaps living different experiences in unique geographies and cultures inspires innovation.Or at least helps humans view the world through multiple lenses. Moving back to Utah has got me wondering why one university here seems to outpace the other great universities in respect to startups + VC. One rationale is that ‘success breeds success’ and some early lucky tech successes.Some other possible drivers: 1) true college town, encourages immersive collaboration (vs commuter schools)2) majority of students at that school are from out of state, bringing their subcultures and facilitating idea exchange3) majority of students speak another language fluently (many bc of an international church mission). Anyone else have thoughts/examples of how diversity or international experience/background has driven innovation or entrepreneurialism? #Utah #Innovation #Entrepreneurship #DiversePerspectives

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Utah Startup Execs! Come join us for a Lunch & Learn – AI Discussion on 5/20 at the SVB Office. Look forward to hearing from these leaders offering AI and/or leveraging AI tools to get more stuff done. Listen in to the following panelists: Peter West, Brad Moss, Austin Winfield, Lihong Hicken, and Cory Linton - moderated by Natasha Allen. Thank you to Klint Lewis, CPA at Tanner LLC and Jeff Bowman at for co-sponsoring with Silicon Valley Bank. Invite Link for Registration in the Comments. #Utah #AI #Tech

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