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A comment on Ask HN: How is the SVB situation affecting your startup?.

Re:Ask HN: How is the SVB situation affecting your startup? by riseagainst22 on Friday March 10, 2023 @06:00PM (#35102478)
I work at a bank most people are trying to park their funds at. It is a fucking PANIC mode disaster for them. Large companies in the Valley are trying to dump 100's of millions into our accounts
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Re:Ask HN: How is the SVB situation affecting your startup? by graderjs on Friday March 10, 2023 @11:15PM (#35105251)
Can you explain, with a focus on how banks and money movements work, why this is a disaster? I'd assume this would be Christmas--Best day of the year, for a bank accepting migrating customers!
[ Parent | on HN ]
Re:Ask HN: How is the SVB situation affecting your startup? by riseagainst22 on Saturday March 11, 2023 @08:36AM (#35108142)
We have to do due diligence checks even if its an established company dumping 100 mill on us. Suddenly 100's of startups are coming and overwhelming our compliance team.
[ Parent | on HN ]