>The bad startups should just fall.
The bad startups that... failed to do due diligence on which bank they chose? Do you really think that we should add "financial risk analyst" to one of the competencies required for a startup founder?
The bad startups that... failed to do due diligence on which bank they chose? Do you really think that we should add "financial risk analyst" to one of the competencies required for a startup founder?
It is unfortunate, but it seems like if you allow bad people to take innocent people hostage and reward them for that, you only get more hostage situations.
This is coming from a bank who had lobbied for the regulation to be repealed. That had the CFO of Lehman brothers from 2007. These are professional hostage takers. I would say persecute them, but we all know this isn't going to happen, and they aren't the only people acting this way. They are getting away with scamming people because we let the government make up the losses to the people they scam.
It's no wonder the VCs fled the ship so fast, many of them knew what was brewing. This is VCs money that is lost. That's where startups get their money. These startups slept with dogs, they shouldn't be surprised they wake up with fleas. It's VC bank using VC playbook of zero or hero. Let them get the zero. Do you honestly think all those VCs had no choice in where their startups deposit their money?