// STARTUP COMPARISON
Uno Home Loans vs Silicon Valley Bank
Uno Home Loans failed in 2023 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 | 🔥 Uno Home Loans | 🔥 Silicon Valley Bank |
|---|---|---|
| Sector | Fintech | Fintech |
| Country | Australia | USA |
| Founded | 2016 | 1983 |
| Died | 2023 | 2023 |
| Raised | A$70M | Public company (SIVB) |
| Peak | A$70M raised | $209B assets |
| Primary Cause | Competition | Unit Economics |
// WHY EACH FAILED
Mortgage brokering businesses are a leveraged bet on property transaction volumes. 13 rate rises in 12 months reduces those volumes 40-60%. There is no product or marketing strategy that offsets a central bank that has closed the first-home buyer market.
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
Uno triggers MORTGAGE_VOLUME_RATE_COLLAPSE — the simulation models digital mortgage brokers as having revenue directly correlated with property transaction volumes. 13 consecutive rate rises eliminated the first-time buyer market that was Uno's primary customer.
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