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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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54025380 No.54025380 [Reply] [Original]

RIP Roku, DocuSign, and all tech startups,

https://www.cnbc.com/2023/03/10/roku-says-26percent-cash-reserves-stuck-in-silicon-valley-bank.html

oh, and a lot of other unrelated companies as their payout providers used SVB LOL
https://twitter.com/bhargreaves/status/1634245897981665299

>> No.54025462

>>54025380
Hello new clients for JPM, Bank of America, Citibank, Goldman, Morgan Stanley. JP Morgan bankers worked overnight last night to get some new clients who moved out of SVB.

>> No.54025509

>>54025462
>hello sir and how much money do you want to deposit
>nah we're good we'll just be your clients thank you

>> No.54025526
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54025526

>> No.54025584

>>54025462
They have no money to deposit into new accounts. What is the point in soliciting a client who is bankrupt?

>> No.54025624

>>54025584
Are you blind or retarded? Roku only lost 26% of its reserve cash. That means they still have a shit ton of cash spread out in other banks.

>> No.54025651

>>54025624
>other banks

>> No.54025707

>>54025584
?? Many took their money out that's what caused the bank run in the first place. New bank clients is for future financing, payroll, etc.

>> No.54025749

>>54025651
are you legit retarded? it's a bank run, they took the money out of SVB, that's why it's bankrupt

>> No.54025945

>>54025749
Other banks will be fucked also.

>> No.54026027
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54026027

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>> No.54026073

>>54025462
I guarantee the lines of credit from the major banks won't allow most of the Becky startups to function anymore. Everyone used SIVB because they were geared towards unprofitable tech startups. No sane bank is going to extend those same offers to these companies.

>> No.54026111

>>54025945
So you don't understand what a bank run is then. Got it.

>> No.54026196

>>54026073
What is a Becky startup

who is becky

>> No.54026231

>>54026111
You said they have more money in other banks, I'm saying other banks are also fucked.

>> No.54026549

>>54026196
Becky is the dumb HR roastie that installs free Frappacino machines on every floor of the office building instead of returning money back to the investors. All these companies that relied on SIVB to be as unprofitable as possible are fucked. I feel bad for any major company suckered into using their services.