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honestly disgusted by the blatant PR moves by YC and Founders Fund yesterday in leaking their “advice” to their founders to get out of SVB Very blatant weaponi
by tempsy 4y ago
honestly disgusted by the blatant PR moves by YC and Founders Fund yesterday in leaking their “advice” to their founders to get out of SVB
Very blatant weaponization of FUD to drum up deposits for their investments in Brex, Ramp, and Mercury.
- deleted 4y ago[deleted]
- zdbrandon 4y agoAs someone who was considering using one of those "banks" in the coming months, this whole ordeal makes me want to stick with Chase, Wells Fargo, etc. Stripe integrations be damned.
- hef19898 4y agoIf you are outside of B2B, you do not need Stripe. You need a solid business bank, ideally multiple ones. And if B2B is relevant, well, have an accoubt, or multiple, at a bank with Stripe integration to handle customer payments anf refunds. And keep everything else at different banks.
- hef19898 4y agoOr just some, as it turned out, valid business advice. That being said, I would never let my investors choose my banks (as in more than one bank) holding my company's cash. And I definetly wouldn't use some not-to-big-to-fail, not international bank to hold my multi-millions in VC money, which is the only yhing keeping my company a float.
- tempsy 4y agoGiving the advice is not what I’m referring to. I’m referring to intentionally leaking the advice to the press so they run the story about how Peter Thiel is warning everyone which accelerated the outflow.
- hef19898 4y agoAh, I wasn't aware of that. I am not the least surprised so that Thiel is, however, involved in this.
- deleted 4y ago[deleted]
- misssocrates 4y agoWould it be better to keep good advice private?