What will be the impact on startup ecosystem after Silicon Valley Bank crisis?

2 pointsdonnie123452 comments

IMHO Tech Industry was in coma and it has died yesterday. https://twitter.com/WhaleWire/status/1634287873364054035?s=20

Please share your thoughts on this topic as well https://news.ycombinator.com/item?id=35045281

It was an own goal by the tech industry. SVB had about $200 AUM and a shortfall around $2B but people tried to withdraw about a quarter of the assets in the last few days. It would have been a nothingburger (would have found some kind of financing or support) if it didn’t have clients who were so quick on the draw.

At worst clients will lose a few percent of their money. Access to the money ought to be restored in weeks. For now tread water.

Long term they get more diversified in terms of what bank they use.

Startups will learn to manage their money a bit more wisely, probably about it.

Reply on news.ycombinator.com