Here's what it looked like outside Silicon Valley Bank after it shutdown

(Credit: Justin Sullivan—Getty Images)

The Federal Deposit Insurance Corporation seized the assets of Silicon Valley Bank Friday in the largest bank failure since the 2008 financial crisis. 

Before its sudden collapse, Silicon Valley Bank was the 16th largest in the country, with 17 branches in California and Massachusetts. The bank is a backbone of the tech startup economy, serving as a lender and holding the accounts for venture capital firms and startups.