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Garry Tan: "30% of YC companies exposed through SVB can’t make payroll in the next 30 days. If you or your company are affected, I recommend that you reach out
by nickrubin 4y ago
Garry Tan: "30% of YC companies exposed through SVB can’t make payroll in the next 30 days. If you or your company are affected, I recommend that you reach out to your local congressman to get this on their radar TODAY."
https://twitter.com/garrytan/status/1634286688922132481 https://twitter.com/garrytan/status/1634286688922132481
- ecf 4y agoSo is this going to be a “privatized profits, socialized losses” type scenario? Are taxpayers going to be bailing out this bank and the companies that use them?
- justin66 4y agoIf the bank's failure doesn't represent a systemic risk to the economy, such that the executive branch would be justified in propping them up, we're talking about a popularity contest. Who does the American public like less, nerds or bankers? might not play in congress quite the way the OP is hoping. It might not come to that, since the specifics of the bank's financials will determine whether everyone eventually gets their money back.
- deleted 4y ago[deleted]
- cybersol 4y agoHN thread on this is here: https://news.ycombinator.com/item?id=35100743 https://news.ycombinator.com/item?id=35100743
- mherdeg 4y agoDoes YC hire a lobbyist?