.Garry Tan CEO of Y Combinator calling the SVB fallout an "extinction level event for startups" "These depositors will not survive weeks or months without some sort of plan from the govt." $SVIB #SiliconValleyBank #startups

@garrytan @ycombinator Maybe you guys should skip dinner and get a second job or something

@garrytan @ycombinator Found this so ironic. Guy whose business model is being paid by startups and betting on them growing is now screaming that this whole SVB debacle is an extinction event because it threatens his business.

@darren_stallcup @garrytan @ycombinator This is due to poor money management; no more, no less. Any accounting 101 student can tell you what the FDIC insurance limits are. If you have more, you split accounts. It's shocking only 2.7% of accounts did that. Millionaires and Billionaires are dumb.

@BowTiedRobin @garrytan @ycombinator Appalling that YC guided companies to put 100% of their operating cash into one single unsecured bank account. What finance guy doin?

@garrytan @ycombinator I don't know whether to laugh or cry. These companies are not "too small to fail" and their demise is not "a national security risk". These companies took a risk keeping uninsured deposits in a bank hoping the bank would lend their unprofitable firms money. Live and learn.

@garrytan @ycombinator Fortuitously, my banking affiliations are solely with duly certified institutions, such as the Varrock West Bank.

@garrytan @ycombinator

@garrytan @ycombinator Garry Tan should take his own advice:

@garrytan @ycombinator It's time for Gary Tan to cash in his NFTs!

@garrytan @ycombinator top 20 bank mismanages assets and goes under and the host wonders if it's a "repricing of some of the startup ecosystem" that were banking there what are you smoking ser?