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Most startups don't have a CFO until they reach a certain size. Additionally many startups had covenants in their financing agreements with investors that requ
by andrewjl 4y ago
Most startups don't have a CFO until they reach a certain size.
Additionally many startups had covenants in their financing agreements with investors that required keeping funds in SVB so they didn't have a choice.
- kevinventullo 4y agoSounds like the investors made a poor choice including that in the financing agreement.
- watwut 4y agoIsnt then the whole thing fault of VCs who included those covenant? The same VCs that now cry hardest? Moreover, both startups and VCs are literally the groups that celebrate risk taking and disruption. This is it, this is the flip side of risk, the definition of risk is that you might loose. But somehow, when they loose, due to risk taking, then suddenly they want extra bail outs and help.