Molly WhiteMar 20, 2023
Reminiscing on when I pissed off venture capitalists with an offhand remark on Crypto Critics' Corner that VCs are not good for society with a new essay about the meltdown around Silicon Valley Bank: https://newsletter.mollywhite.net/p/the-venture-capitalists-dilemma
The venture capitalist's dilemma

The embarrassing investor meltdown surrounding Silicon Valley Bank should drive us to consider new models.

Molly White
Show threadMichael Gemar
@molly0xfff There should private deposit insurance that organizations like these could purchase for their full deposit. Then the government wouldn’t have to bail them out.
Mar 20, 2023 at 1:17amWeb
Show threadCiferMar 20, 2023
@michaelgemar @molly0xfff What makes you think they would make use of that?
Show threadMichael GemarMar 20, 2023
@Teskariel @molly0xfff They would if they were either mandated to, or if it was explicit policy to not provide bailouts to uninsured accounts. (I’ll grant there’s an initial chicken-or-egg problem — until it’s clearly needed it won’t be used, and it won’t be available until companies use it.)