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> SVB was a national bank It was more of a regional bank, specifically one servicing SV, with at most sporadic branches elsewhere, usually just one in a given
by 462436347 4y ago
> SVB was a national bank
It was more of a regional bank, specifically one servicing SV, with at most sporadic branches elsewhere, usually just one in a given state in its largest major city (e.g., one in NY: in NYC; one in D.C.; one in Colorado: in Denver). In many states they have no branches (e.g., Florida): https://www.svb.com/locations https://www.svb.com/locations
> Nothing they do isn't done by others
Then why did so many startups and VCs bank with them?
> my friends and their missions
I would personally be hesitant to use this terminology for others, unless they're actually doing something truly impactful and impressive, like curing some horrible disease, going to Mars, or at least actually in the military on some mission.
- JumpCrisscross 4y ago> was more of a regional bank, specifically one servicing SV, with at most sporadic branches elsewhere Top 20 by assets and with a branch in New York. That’s a national bank. > why did so many startups and VCs bank with them? They were first and did what they did well. That doesn’t make them preciously unique. > would personally be hesitant to use this terminology for others, unless they're actually doing something truly impactful and impressive, like curing some horrible disease, going to Mars, or at least actually in the military on some mission Over a bank?
- 462436347 4y ago> Over a bank? Over a financial contagion that could sap the liquidity and solvency of the startups these VCs have invested in, and possibly cause harm to the wider economy (which I doubt they care very much about)?
- cyberlurker 4y ago[flagged]
- 462436347 4y ago> Your last paragraph is so shitty Thanks for reminding why I largely left this place for /g/.