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Indeed. The bank was trying to raise money and recapitalize itself several days before this and instead of investing, VCs panicked, told their portcos to withdr
by martythemaniak 4y ago
Indeed. The bank was trying to raise money and recapitalize itself several days before this and instead of investing, VCs panicked, told their portcos to withdraw immediately, and started a bank run.
- onlyrealcuzzo 4y agoRight, they told their clients to run for the exits, caused a collapse on their uninsured deposits - and now expect a handout (and will get it).
- teawrecks 4y agoBy and large, the ones who ran aren't the ones who were hurt.
- cheeseblubber 4y agoThe VC's who told their portfolio companies to withdraw will be fine. The ones who didn't cause the bank run will be hurt the most.