That all makes sense, though I would argue that many companies with an order of magnitude more than the FDIC limit aren't really that much more sophisticated, a

That all makes sense, though I would argue that many companies with an order of magnitude more than the FDIC limit aren't really that much more sophisticated, and certainly not enough to evaluate risk of catastrophic failure (as we have seen with SVB). It seems then the logical alternative to insurance for these companies is to concentrate deposits at large, "too big to fail" type institutions. I'm not sure if that is something that would be good or bad for the economy as a whole, but definitely seems bad for smaller banks?