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> They were just a very startup-friendly bank. Americans have a million euphemisms for corruption.
by bugglebeetle 3y ago
> They were just a very startup-friendly bank.
Americans have a million euphemisms for corruption.
- borski 3y agoYou’re welcome to be more specific, but I suspect your snide sarcasm has no basis. Being willing to work with startups has nothing to do with corruption, at all. Period.
- lesuorac 3y agoIt's not a euphemism for corruption. Quite literally a bank is not required to make you a business account. A bank is not required to give your business a loan. The list goes on. SVB was much more willing to do things other banks wouldn't for startups; this is what people mean. Now, there are a bunch of claims that SVB gave startup founders discounts on personal mortgages for having their business accounts there. This is just gravy on top of the fact that SVB may have been the only bank to accept the business account anyways.
- borski 3y agoPrecisely this.
- bugglebeetle 3y ago>Now, there are a bunch of claims that SVB gave startup founders discounts on personal mortgages for having their business accounts there. Exhibit A in why it’s not even worth replying.
- butlerm 3y ago> Quite literally a bank is not required to make you a business account. Banks actually want deposits, so unless you are involved in a shady enterprise, are penniless or insolvent, or are the type of business that presents an outsize risk of demanding your deposits all at once, you are highly likely to be granted the privilege of lending the bank your money. Not to mention being paid relatively little for the risk you are taking.