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"well, everyone else uses SVB you should too" Which is not even true because it is a tiny no name bank. Prior to this debacle if you asked an American to name
by MomoXenosaga 4y ago
"well, everyone else uses SVB you should too"
Which is not even true because it is a tiny no name bank. Prior to this debacle if you asked an American to name a bank nobody would have said SVB.
- benglish11 4y agoMost Americans not being able to name it is not a good standard for bank size. Banks like SVB exclusively have businesses as customers and most Americans do not run businesses. It’s not a tiny no name bank by any reasonable measure.
- hn_throwaway_99 4y agoYou've misunderstood. When I said a VC says "everyone else uses SVB you should too", by the "everyone else" I was referring to other VC-funded startups, not the American populace at large.
- gnicholas 4y agoIt was apparently the 16th-largest bank in the US. I live in SV but wouldn't have guessed it was that big. I'm sure it's much, much smaller than the #1 bank, but it's by no means a "tiny" bank in objective terms. It may not be well known in most of America, but it was a very large bank.
- mavelikara 4y agoAmerica has about 5000 banks. Most banks outside 5-6 are no-name banks.