4 ms·

https://www.bloomberg.com/news/articles/2023-03-09/founders-fund-advises-companies-to-withdraw-money-from-svb https://www.bloomberg.com/news/articles/2023-03-09

https://www.bloomberg.com/news/articles/2023-03-09/founders-fund-advises-companies-to-withdraw-money-from-svb https://www.bloomberg.com/news/articles/2023-03-09/founders-... Advised his companies to withdraw on Thursday, bank shutdown on Friday

SkyPuncher 4y ago
To be clear, most VCs advised the same. This was a massively-multiplay prisoners dilemma - with withdrawing your being the safest option. Same thing happened at the start of the pandemic. Even if you thought the panic buying was overblown, you couldn't afford to be left with empty shelves if things got bad.