[ojbyrne]

These things were seen as no-risk, basically like money market funds. Some startups have raised 8 digit numbers of money, and they have a CFO, and that CFO would be neglecting his fiduciary duty if he left millions in an account that earned 0.25% interest.

[marvin]

Excuse me, but since when do money market funds earn 0.25% interest?

[ojbyrne]

I was saying that safer alternatives to money market funds (i.e. checking accounts) pay 0.25% interest. I guess it came out a little unclear. These were seem as just another kind of money market fund, 100% safe. To keep money in a checking account rather than putting it into a perceived safe investment that paid a higher rate without sacrificing liquidity, would be neglecting fiduciary responsibilty.