Startups that use Silicon Valley Bank are freaking out over payroll

Re:Startups that use Silicon Valley Bank are freaking out ov... by fairity on Saturday March 11, 2023 @10:55AM (#35109346)

> I don't understand why people are blowing this out of proportion

The media is blowing this out of proportion bc it generates clicks.

The investors are blowing this out of proportion bc in the slim chance that the FDIC doesn’t get this resolved over the next week, their companies are at risk. And, helping their companies avoid that albeit small risk is their job.

I agree with you though. The most likely outcome is that almost everyone gets access to most of their funds next week.

[ Parent | on HN ]

Re:Startups that use Silicon Valley Bank are freaking out ov... by willis936 on Saturday March 11, 2023 @02:27PM (#35111733)

Bullshit. I saw what happened 12 years ago and I can see what is happening now. No one is blowing anything out of proportion and least of all if they are they are not the reason I am nervous about my near and medium term situation. Many others here are the same.

The 16th largest US bank disappearing in 24 hours is not a molehill, particularly when it is the one that is the source of the check you depend on in existing in 6 days. Hope is not a strategy.

[ Parent | on HN ]