>> But the firm learned that its limited partners were encountering issues using SVB services as they tried to transfer the funds — they weren’t immediately going through as expected, the person said.
Quickly, Founders Fund asked its investors to transfer the money to other banks instead. The fund acted to ensure that startup funding deals that were slated to close in the coming days were not delayed, the person said.
Having issues with SVB services seems like a legitimate source of info.
What do you expect on their official statement? "ahh we got a call from the CEO saying they were probably going to collapse in a few months, so we got our money out". I get it's unprovable/conspiracy stuff, but to think that doesn't happen at the top end is simply naive.
On the All-In podcasts, David Sacks discussed how he noticed something off with SVB that lead him to move his accounts. They all seemed to agree SVB did nothing illegal or wrong. It doesn't appear to be an Enron or Bernie Madoff situation.
>> But the firm learned that its limited partners were encountering issues using SVB services as they tried to transfer the funds — they weren’t immediately going through as expected, the person said. Quickly, Founders Fund asked its investors to transfer the money to other banks instead. The fund acted to ensure that startup funding deals that were slated to close in the coming days were not delayed, the person said.
Having issues with SVB services seems like a legitimate source of info.