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Exactly. 250k to me seems like a very logical threshold to expect at least some sophistication. Deposit sweeps get you to 3M many places after which it seems pe
by ericpauley 4y ago
Exactly. 250k to me seems like a very logical threshold to expect at least some sophistication. Deposit sweeps get you to 3M many places after which it seems perfectly reasonable to expect people to manage treasuries. If Bogleheads can do it VCs can.
Then again, you have people like Mark Cuban who clearly don’t know about basic cash management (https://twitter.com/mcuban/status/1634413306948603905 https://twitter.com/mcuban/status/1634413306948603905), so maybe American lack of financial literacy has truly trickled all the way up.
- morelisp 4y agoThe alternative take would be that Cuban knows exactly how it works but sees a chance to push for what's essentially a federal startup subsidy because his fanboys don't know.
- ericpauley 4y agoFor sure, the assumption of ignorance definitely doesn’t apply here.
- tome 4y agoYes, my reading is that he knows well, he just wants to socialise his insurance costs (including self-insurance, by splitting deposits across several institutions).