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Money and Finances
Reply to "SVB failure "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous] Ashley Tyrner, CEO of Boston wellness firm FarmboxRx, said she had at least $10m deposited with SVB and has been frantically calling her banker. She called it 'the worst 18 hours of my life.'[/quote] Honest question -- should we care about that?[/quote] Should you care about one individual and company? No, probably not. Should you care that thousands of companies only have access to $250k? Yes. If all of these companies didn't make payroll this week then it would have serious consequences. [/quote] There was an interview on NPR yesterday in which a startup that banked with SVB said they chose it because SVB understood the needs of tech startups, and what I hear when I hear that is "[b]We needed financing from someplace that shares our delusions rather than looking for actual financial value.[/b]"[/quote] But that is exactly the nature of a start-up, PP. They're all delusional until they make it. How much would you have given Jeff Bezos to sell heavy books by mail via an internet portal, out of his parents' garage??? It was crazy, and yet he made it. Investing in risky propositions is not for traditional banking, which is quite conservative. This is a different banking - a necessary one that brings out-of-the-box ideas to market - and it requires an entirely different framework of priorities and beliefs. [/quote] What you describe is venture capital. Has nothing to do with banks who should stay far away.[/quote]
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