With all respect, Garry: YC is to blame for the consolidation of this risk in a single counterparty.
Those who led all these entities from the same industry to bank at the same place must be held accountable too.
Those who led all these entities from the same industry to bank at the same place must be held accountable too.
To my knowledge SVB was never required, and startups always had choice.
But I think this is worse. Bailing out individuals is one level, bailing out massive banks is pure corruption.
Nor does the lack of a requirement indemnify someone from responsibility.
Could be a selling point for alternative incubators in the future.
Perhaps being a part of YC puts you at greater risk from these events. Draw your own conclusion about the reason why.
If bank regulators move swiftly and ensure orderly withdrawals, his comments will go down in history as crying wolf, and that's putting it lightly
Exactly. And "don't put all your eggs in one uninsured basket" is the exact sort of 101-level business advice I'd expect the experienced hands at YC or any Angel investor to provide pretty routinely.