[nightmarish]

[flagged]

[jackblemming]

The rich want to have their cake and eat it too. If they keep pushing their luck the guillotines will be brought out eventually. It's probably about time they realize they don't get to always win.

[seizethecheese]

VC backed founder here whose company is impacted by this.

“Nepotistic trust fund baby” I am not. My family has no money, no connections. I went to Portland State University. I had no VC connections whatsoever.

Our company was originally bootstrapped off of personal savings accumulated by working and living way below our means. No friends or family invested or gave us loans. I’ve had no inheritance and expect none.

We did not see a deposit account as a risky investment in any way.

[nicenewtemp84]

Did you have more than $250k sitting in SVB? We're you unaware of the $250k FDIC insured limit? Or were you, and didn't act on mitigating this potential problem? Any particular reason?

[Nifty3929]

He was targeting VCs, not founders. I’m sorry you’re going through this though.

[totalZero]

Hope should be reserved for good things. I hope the ones who truly had no idea what they were risking come out better and wiser.

[garry]

I grew up food insecure.

[choppaface]

Please don’t trample productive discussion on HN. The OP clearly was posting about financial investment issues and not poverty.

But it’s not unprecedented for the VC community to confuse capital issues and human rights issues: https://www.npr.org/sections/alltechconsidered/2014/01/26/26...