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0 pointszaptheimpaler3y ago0 comments

The founders represented by the VCs were looking at a company they spent years building and all its money potentially disappearing overnight. They had to act quickly under a lot of uncertainty and took the decision that minimized risk. I guarantee if SVB hadn't been bailed out people here would be questioning the VCs who didn't pull out instead.

I don't blame them. It was irrational if they were omniscient beings with knowledge of what would happen.. they aren't.

0 comments

dforrestwilson3y ago

That first part is fine. Killing risk is key.

But within 24 hours we had VCs from Founder’s Fund and the All In podcast personas who intentionally and knowingly fueled a panic on social media.

That panic was designed to benefit them and it worked, to the detriment of everyone reading this who has a deposit at a US bank, and who will now be assessed a fee to cover the cost.

j / k navigate · click thread line to collapse

0 pointszaptheimpaler3y ago0 comments

I don't blame them. It was irrational if they were omniscient beings with knowledge of what would happen.. they aren't.

0 comments

dforrestwilson3y ago

That first part is fine. Killing risk is key.

But within 24 hours we had VCs from Founder’s Fund and the All In podcast personas who intentionally and knowingly fueled a panic on social media.

That panic was designed to benefit them and it worked, to the detriment of everyone reading this who has a deposit at a US bank, and who will now be assessed a fee to cover the cost.

j / k navigate · click thread line to collapse