// STARTUP COMPARISON
Chekout vs Silicon Valley Bank
Chekout failed in 2022 due to Competition. Silicon Valley Bank failed in 2023 due to Unit Economics. Different causes, different sectors, different eras — but the same simulation outcome.
| METRIC | 🔥 Chekout | 🔥 Silicon Valley Bank |
|---|---|---|
| Sector | Fintech | Fintech |
| Country | Chile | USA |
| Founded | 2019 | 1983 |
| Died | 2022 | 2023 |
| Raised | $12M | Public company (SIVB) |
| Peak | $12M raised | $209B assets |
| Primary Cause | Competition | Unit Economics |
// WHY EACH FAILED
BNPL for e-commerce is dependent on where e-commerce happens. In markets where one marketplace controls 60%+ of volume, when that marketplace integrates BNPL natively, your TAM shrinks to 40% overnight. Build for that scenario from day one.
Asset-liability duration matching is not optional for banks. Investing short-term deposits in long-term bonds is a structural bet against rising rates. SVB had $80B in long-duration bonds when the Fed began the fastest rate rise cycle in 40 years.
// IN THE SIMULATION
Chekout triggers BNPL_MARKETPLACE_INTEGRATION — the simulation models standalone BNPL providers as existentially threatened when the dominant marketplace integrates BNPL natively. The addressable market shrinks to independent commerce overnight.
SVB triggers DURATION_MISMATCH_BANK_RUN — the simulation models banks with long-duration bond portfolios as having existential rate sensitivity. A 400bps rate rise on a long-duration portfolio creates mark-to-market losses that exceed capital when forced to sell.
// EXPLORE FURTHER