So you... have invented a ZBA with an automatic sweep to a money market/bond fund? A treasury management of every single regional and above bank can do it on balances above $10k. They can probably do it for less but the transaction costs are a killer (and if you tell me that you don't have those transaction costs I'm going to look at you really funny)
I mean the ultimate job of a CFO of a company with a pile of cash is to make sure that the pile of cash at the fed close is nearly the same (preferably exactly the same) at the fed open the next day, which is why treasury management is not popular below companies of a certain size with gigantic finance departments. One can make a respectable amount of money collecting customer's cash investing it for 10-30-90 days before redistributing it to some other customers a-la AirBnB but that requires people that otherwise would be working for Goldman to be on a payroll, and their total compensation makes all non-FAANG engineers cry.
So if my startup has $800k split between four banks because I know about coverage limits, what are you doing that's better?
I mean the ultimate job of a CFO of a company with a pile of cash is to make sure that the pile of cash at the fed close is nearly the same (preferably exactly the same) at the fed open the next day, which is why treasury management is not popular below companies of a certain size with gigantic finance departments. One can make a respectable amount of money collecting customer's cash investing it for 10-30-90 days before redistributing it to some other customers a-la AirBnB but that requires people that otherwise would be working for Goldman to be on a payroll, and their total compensation makes all non-FAANG engineers cry.
So if my startup has $800k split between four banks because I know about coverage limits, what are you doing that's better?