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A comment on Yellen says government will help SVB depositors but rules out bailout. Parent comment

Re:Yellen says government will help SVB depositors but rules... by eldritch_4ier on Sunday March 12, 2023 @01:52PM (#35123538)
YC doesn’t make you keep your money anywhere, they don’t even suggest any place or even say anything about startup banking (unless you were to ask one of the partners for advice). Even a cynical take would suggest they’d prioritize their portcos who launched banks for startups (like Brex), but even still in my experience they haven’t even done that.
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Re:Yellen says government will help SVB depositors but rules... by QuercusMax on Sunday March 12, 2023 @04:21PM (#35125710)
According to Ankit Parasher, Co-Founder of YC-backed fintech start-up SALT, “SVB was the default bank for any international start-up expanding operations to the US. It was a stable bank and most VCs recommended it, so the impact of SVB failure is expected to be even larger than just Indian SaaS companies and YC-backed start-ups.”

From https://www.thehindubusinessline.com/companies/indian-saas-a...

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Re:Yellen says government will help SVB depositors but rules... by eldritch_4ier on Monday March 13, 2023 @09:02AM (#35135132)
Even still, YC doesn’t give any recommendations on bank account that I’ve seen. For ourselves, we had to do some corporate clean up before YC and while they connected us to the right lawyers and provided basic review, it was really just between us and our lawyers. For wiring the money, they just ask you where to send it.

SVB is no doubt popular, but YC makes no recommendations on any banks whatsoever in my experience

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