Startups across the country with 100s of thousands of employees in total, from sea to shining sea, bank at
#SVB. Those companies, if their assets had been frozen or lost, would have laid off 10s of thousands of employees. Again those employees live in red and blue states. This was a save for employees more than anything else. It was less for VCs, since most VCs call capital as needed, so they tend to deposit only what they are about to invest in startups (and to a lesser extent to cover their management fees). This was a poorly researched piece, perpetuates false memes and wrongly politicizes the situation.
wsj.com/articles/how-biden-b…