> An industry built on risk-taking, which made mountains of money when those risks paid off, has just been reminded of what happens when they don’t. And the answer, once again, is: Someone else pays the price.
Ouch. That's a bit painful to read, because... it rings true, based on conversations I've had over the past few days. My understanding is that a majority of venture-backed startups in the US as well as a majority of venture capital firms all their had their cash balance deposited at SVB. In other words, the federal government just saved the entire US venture capital ecosystem from failure.
Ouch. That's a bit painful to read, because... it rings true, based on conversations I've had over the past few days. My understanding is that a majority of venture-backed startups in the US as well as a majority of venture capital firms all their had their cash balance deposited at SVB. In other words, the federal government just saved the entire US venture capital ecosystem from failure.