[OliverJones]

I'm certainly not crying "Woe is me." Not at all. SVB, and other parts of the business, worked out very well indeed for us and our employees. Did scramble to make payroll a couple of times, but that was nothing to do with SVB. Why did we scramble to make payroll? Because employees, including founders, needed to feed our families etc. And, yeah, laws against stealing wages and all that. Basic honesty in business sometimes means taking personal risks.

An investor / board member back then said "don't worry about it" when I brought up FDIC coverage limits upon their advice to dump the money at SVB.

At any rate last Sunday the FDIC knuckled under to pressure from the Sand Hill Road folks and extended their insurance to all deposits, not just the first quarter megabuck owed to each depositor. SVB's shareholders are wiped out, and maybe some non-depositor people they owe money to will take a haircut. But the various startups will be OK.