The SVB fallout has been a wake up call for startup founders. Many are rethinking their VC relationships: 'There's certain people I wouldn't want to take money from now.'
to save depositors, the event served as a wake-up call as to whether or not VCs always had their startups' best interests in mind.
"An investor told us to remain calm, but they took out all their money, and that's when I pressed the panic button," said Brett Hellman, founder of employee-rewards startup Matter."If they were willing to move that much money, then I should probably do the same." Additionally, because SVB's depositors eventually got access to all of their money, Kitun, the Songfinch cofounder, believes that the impact on VC reputations was muted. He expects that"people will take the rest of the month off" to"lick their wounds a little bit" before going back to"business as usual," he told Insider.
Rather than creating a permanent rift between founders and investors, this event may encourage founders to have"heightened awareness" in picking partners carefully"in this environment," NFX general partner Pete Flint told Insider.
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