After the collapse of Silicon Valley Bank and Signature Bank, which is based in New York, officials and regulators across government are trying to reassure the public and lawmakers the U.S. banking system is stable.
Now business leaders and investors are grappling with the long-term impact of these collapses, and what this could mean for the future of the economy and the tech industry, which Silicon Valley Bank heavily supported.
Michael Seckler, the CEO of Justworks, a payroll and human resources software company, joined Errol Louis on "Inside City Hall" Thursday to talk about how the tech industry here in the city is responding.
He's also a board member of tech:nyc, a local tech advocacy group which held a call with Gov. Kathy Hochul and Mayor Eric Adams following the collapse.