[time_to_smile]

Though it is widely publicized that he was pretty aggressive at getting YC startups to move their money out yesterday.

It's not altogether unlikely that other groups of startups, without an aggressive push to pull out of SVB, are in more trouble.

That is also a lot of startups in a very short window of time. Startups don't exist in isolation, and, for better or worse, often actively try to purchase each others products when possible. It is an ecosystem.

I work at an IPO'd SaaS company, but a lot of our customers are startups. If 30% of our startup customers suddenly can't pay their bills that impacts us in a big way. On top of this, like most companies, we were already concerned about how we were going to meet profitability goals.

And again, the short time frame means not a lot of time to respond and adapt.

[youngtaff]

That aggressive approach to get money out is what appeared to have caused a run on the bank and it’s actual failure!