Depositing money in a bank is not supposed to be an investment with associated risk.
Yes there may be an interest yield and services rendered, but these customers were not greedily looking for a sizable return.
Yes there may be an interest yield and services rendered, but these customers were not greedily looking for a sizable return.
These naive smol bean founders don’t struggle to figure out the most tax advantageous way to get paid, let’s not pretend they’re too stupid to read a huge sticker.
What are you trying to punish here? Founders who didn't want to waste time messing around with multiple banks?
Practically, the VCs should have made some bridge loans to solve the short term problems while we wait to see what comes out of receivership. Some did, and good on them for sticking with it in the hard times.
Says who? Why do all the signs in a bank specify $250k then?
What if the 22 year olds also thought that when they borrowed money to get their degree?