[bananapub]

> Startups should live or die because they create good products and solve real problems in real markets, not because they made an arbitrary choice like which bank they started using.

What on earth are you talking about? SVB had so many startup companies because they offered perks like mortgages for illiquid founders and high yield savings accounts funded by their poorly thought bond strategy, and, allegedly, because they were recommended to them by various VCs.

It’s not arbitrary, all these startups specifically chose to use SVB and chose to not hire a competent CFO or accountant who could tell them “lol no, bank account insurance isn’t free or infinite”.

This is one of the most pathetic pro-YC-startup-culture-nonsense posts I’ve ever seen on HN and that is saying something.