Silicon Valley Bank (SVB) has been making headlines recently due to its sudden collapse. The bank, which specialized in serving tech startups and venture capital firms, closed its doors on Monday, leaving many customers scrambling to recover their funds.

According to The New York Times, the bank’s collapse was caused by a run on deposits. Many customers were withdrawing their funds due to concerns about the bank’s stability, and SVB ultimately could not keep up with demand. The Financial Times notes that while this is certainly a concerning development, it is not necessarily a harbinger of another 2008-style financial crisis.

Nevertheless, the fallout from SVB’s collapse will have significant financial implications. Bloomberg reports that short sellers have made an estimated $500 million from betting against the bank, and now they must collect on those bets. Meanwhile, tech startups and venture capital firms that relied on SVB’s services will need to find new banking partners.

Ultimately, the collapse of SVB serves as a stark reminder of the fragility of the financial system, especially when it comes to institutions that serve specialized niches. As the fallout continues to play out, it remains to be seen what the long-term consequences will be for SVB’s customers, employees, and investors.