[HN Gopher] My Startup Banking Story
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       My Startup Banking Story
        
       Author : cdme
       Score  : 58 points
       Date   : 2023-03-14 20:28 UTC (2 hours ago)
        
 (HTM) web link (mitchellh.com)
 (TXT) w3m dump (mitchellh.com)
        
       | ghiculescu wrote:
       | I've had plenty of debates about SVB where a key argument is "the
       | bank's depositors should have known better!"
       | 
       | This kid is now a billionaire(?). I think this is a good example
       | of the financial acumen of a typical SVB customer.
       | 
       | I don't say this to promote or defend a bail out. To me it says
       | that if we are regulating the system to protect deposits, we
       | should come up with rules that actually work. For better or for
       | worse, a bank is a bank is a bank is how most people see it.
        
       | RulerOf wrote:
       | Interesting story, but I've got to complain about the inset text
       | boxes:
       | 
       | > Someone out there is probably mentally screaming at me "you
       | fool!" at this point.
       | 
       | These are each clearly building up to "some explanation" of what
       | the author should have done instead, indicating precisely what
       | his foolish actions were and why. Perhaps we're just supposed to
       | know that, but this is never directly explained in the story and
       | I found it a little upsetting.
        
       | theyknowitsxmas wrote:
       | > the amount the cashier's check is made out for has to be
       | available at that local branch (or, whichever branch issues it).
       | And, well, local branches I guess don't usually have $1M cash
       | lying around. Or, if they do, its not enough to cover other
       | business activities for the day so they're not willing to part
       | with it.
       | 
       | I guess a flight to New York is worth it.
        
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       (page generated 2023-03-14 23:01 UTC)