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There were 2 groups this weekend. The first group whined hysterically, like JasonC, GarryT (and YCombinator). Not only whined, but showed a strong lack of moral
by breck 4y ago
There were 2 groups this weekend. The first group whined hysterically, like JasonC, GarryT (and YCombinator). Not only whined, but showed a strong lack of moral character (asking the public to bail out their private 1% bank accounts).
The other group built (like Mercury Bank) and innovated to reduce future situations like this.
Kudos to the second group.
Shame on the first group. It's sad their whining got rewarded.
Disclosures: I am an investor in a number of startups that had >$250K in uninsured deposits SVB, but I was still against the bailout b/c I think it just made America weaker in the long run. A 10% haircut would have been fine. I am also a tiny tiny investor in Mercury.