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I agree that it's dumb to have a single account, especially when you're a startup w/ no cashflow to tap into.

But, at the same time no business at scale, and especially start ups getting lump sums of investment capital are spreading it in 250k chunks.

I'd say having 3 different banks that serve different markets is the smartest bet.

I don't blame the companies though... They're just startups that got 5m in funding and need a place to park it and distribute payroll.

They're getting recompensated instead of learning a hard lesson though!

Not even a grave a to dance on 🤣

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But they did nothing wrong... they just deposited money in a bank account.

Risk management at SVB and some of these other banks obviously made big mistakes, they shouldn't be compensated, or helped.

But the companies banking there shouldn't learn any "lesson"

If you got 10m in funding for your start up would you go look for 20 banks and balance those accounts so you stay under 250k in each?

Likely not... but you probably wouldn't stick it in a single bank either.

Just saying, easy to point fingers, but the real stories are a bit different.

Then why isn't FDIC insurance 100%?

Rules for thee just not for silicon valley chumps?