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I don't get it, if all SVB clients recovered their funds "thanks" to the government intervention 0 (or 1) business day after the collapse, then how is their mon
by rvnx 4y ago
I don't get it, if all SVB clients recovered their funds "thanks" to the government intervention 0 (or 1) business day after the collapse, then how is their money needs related to the situation with SVB ?
- bagels 4y agoI had the same question, which is answered in the article. These events took place before it was known that they would regain access to the funds.
- rvnx 4y agoThanks :) I would take it as a bad news though, because if they raised in a rush, it means they had likely unfavourable conditions, but why not. And if it's money that they didn't need, it means they are paying interest for something they don't use.
- jgalt212 4y agoSo legitimate use do they have for the funds now?
- moralestapia 4y agoQuite impressive to just go out and raise $500M "in a hurry". As other commenters said, it was probably under unfavorable for terms for them. That's bad but if I were an investor w/ them I would be fine with their actions, history could've been different and this same thing would've been an amazing feat. to keep Rippling afloat after "losing" $300M. Great leadership, I think they'll do well!
- Etheryte 4y agoYou're overlooking the minor fact that in the process, SVB as a company functionally ceased to exist. If you're a company and want to keep existing you don't want to end up in that situation.