Not surprising, but haven’t seen anyone who has had the responsibility of running a regular payroll tweeting something snarky about SVB.

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

It’s a terrible situation for everyone involved.

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No impact for us. A lot of others though.

Is there any impact for your team? Thankfully we are not using SVB (after 10 years of being a client), and Mercury seems to have not had a relationship with SVB.

It's actually surprised me to see how many founders and VCs are tweeting up a storm about it all day. 

Seems like their attention would be better spent elsewhere.

But what do I know.

🤔

I’m usually okay with the snark, but seeing people watching a major bank collapse and tweeting “lol good” is a trip.

The good news is that it is unlikely to result in a major loss of funds for depositors. Shareholders are wiped out but the reported long term bond value exceeds the deposits. After the FDIC finishes there is a good chance things start running as expected.