Re:Silicon Valley Bank’s shares are tanking as a mess unfolds
by tootie on Thursday March 09, 2023 @11:00PM
(#35090198)
I feel like this is unlikely. Startups didn't spring into existence in 2005. Every business was a startup at one point. Even venture capital isn't new. I'd wager every suit and tie wall st old guard firm knows how to handle startups just fine. SVB just had the right branding for young entrepreneurs who assumed JP Morgan wouldn't talk to them.
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Re:Silicon Valley Bank’s shares are tanking as a mess unfolds
by jen20 on Thursday March 09, 2023 @11:23PM
(#35090354)
They might know how to, but they choose not to.
Re:Silicon Valley Bank’s shares are tanking as a mess unfolds
by tootie on Friday March 10, 2023 @09:28AM
(#35094669)
In that case it would just SVB has a much higher risk tolerance and it seems that may have bitten them in the ass.
Re:Silicon Valley Bank’s shares are tanking as a mess unfolds
by jen20 on Friday March 10, 2023 @09:44AM
(#35094868)
Indeed: this may portend a very rough few years for small businesses of any type and location being able to access the kind of banking services they have been able to until now.
Re:Silicon Valley Bank’s shares are tanking as a mess unfolds
by borski on Friday March 10, 2023 @12:49AM
(#35090867)
Having worked with both major banks (BoA, Chase) and startup focused banks (SVB, First Republic, Square1) - you’re incorrect. BoA and Chase are great for personal capital, but for startups they are horrendous. Huge pains to convince them you’re not a drug dealer and aren’t going to die tomorrow. SVB, FRB, etc., understand startups and make it possible to… bank with them.