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> This is an extinction level event for startups and will set startups and innovation back by 10 years or more. I didn't know there was a YC backed startup wit
by doesnt_know 4y ago
> This is an extinction level event for startups and will set startups and innovation back by 10 years or more.
I didn't know there was a YC backed startup with an app that lets you directly inhale your own gas. I'm sure that one isn't at any risk of extinction.
- wellthisisgreat 4y agoGas in the blockchain sense I hope
- rexreed 4y agoGo figure, one singular bank failure could wipe out so many startups. Pretty remarkable how fragile the ecosystem is if that's all it takes.
- twblalock 4y agoStartups are fragile by definition. Most fail.
- rexreed 4y agoI wonder how many startups would have predicted "bank failure" as their root cause of failure. The problem is not the fragility of each individual startup, which everyone knows. The real issue is that one singular bank failure could tip so many over at the same time. Part of the issue is Silicon Valley-centric CEOs following guidance of Silicon Valley-centric VCs, who no surprise, recommend SVB. A little independent thinking goes a long way to make your fragile startup a bit less fragile. All these startups would have had to do is hedge their bets a bit and not go all-in with Silicon Valley and their already fragile startups wouldn't have been made that much more fragile. Besides, I'm talking about the fragility of the ecosystem, not just individual startups. While everyone knows each startup is just a flash in the pan, here one day, very likely gone the next, the same was not said about a whole ecosystem. Silicon valley as a whole seemed remarkably stable until recently.
- muzz 4y agoAlso, how poor the decision-making must be at all those startups in regards to where they keep their cash.