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It is an "extinction level event" for those whose bank accounts went to zero. We are talking about a large number of jobs and people effected. Its pretty sad re
by justinzollars 4y ago
It is an "extinction level event" for those whose bank accounts went to zero. We are talking about a large number of jobs and people effected. Its pretty sad really.
- ahzhou 4y agoIt'll be a haircut (my uninformed bet is ~10% loss), but definitely not zero.
- justinzollars 4y agoHow do you pay staff with no money?
- decodebytes 4y agoI do wonder how many left 100% of funds in there?
- justinzollars 4y agoIts a risk many did not consider. Garry Tan says 30% of YC companies.
- JohnFen 4y agoThis is what boggles my mind. How did they not consider and hedge against this risk? Why did their advisors not raise an alarm about this?
- justinzollars 4y agoSomeone wasn't doing their job
- anthomtb 4y agoIs this is the source of that 30% number? > 30% of YC companies exposed through SVB can’t make payroll in the next 30 days. https://twitter.com/garrytan/status/1634286688922132481?s=20 https://twitter.com/garrytan/status/1634286688922132481?s=20