@Popehat why is this so odd to people? This bank is 40 years old. Not ancient, but that’s no predictor of stability, but it’s not like they’re swindling people.

The problem is likely a bunch of VCs and later stage investors pouring poison in the ears of startup leaders (or outright commanding them) and rallying everyone into a run on the bank. When your customers are all startups beholden to investors, you’re fucked if the investors say get out.

@jason @Popehat

Peter Thiel. It was Peter Thiel.