4 ms·
I don't think SVB going bust is generally a big problem for a foreign startups that banked there. This is because typically(?) they are structured so that their
by rixrax 4y ago
I don't think SVB going bust is generally a big problem for a foreign startups that banked there. This is because typically(?) they are structured so that their US subsidiary has account there, not the main company. And especially if the US subsidiary is on the red, the US accounts for the foreign startup pretty much hold enough cash to do next payroll.
What these Israeli startups appear to have done is something entirely different and I truly sympathize and feel sorry for them for all the money lost. One might even argue that 'no good deed goes unpunished'.