5 ms·
Remember when YC leadership yelled on Twitter about how DC should have more regulation and should guarantee FDIC funds past 250k for wealthy VC's and startups w
by reducesuffering 2y ago
Remember when YC leadership yelled on Twitter about how DC should have more regulation and should guarantee FDIC funds past 250k for wealthy VC's and startups when their Silicon Valley Bank collapsed? This obviously had the effect of entrenching large banks, because people now know that big banks are too-big-to-fail and have infinite FDIC insurance, while the little guys can kick rocks because they're not systemic enough. So they effectively lobbied for big financial business.
Now they want to lobby for less regulation of their own industry in favor of the little guy? Personally, I'm a more principled libertarian-leaning type than "government for me, free market for thee."