Eric Vishria of Benchmark and Oxide CEO, Steve Tuck, join Bryan and Adam to talk about Silicon Valley Bank, its role in the startup ecosystem, and the short- and long-term effects of its collapse.We've been hosting a live show weekly on Mondays at 5p for about an hour, and recording them all; here is the recording from March 17th, 2023.In addition to Bryan Cantrill and Adam Leventhal, we were joined special guests Eric Vishria and Steve Tuck.(Did we miss your name and/or get it wrong? Drop a PR!)Curated chat log from the show:davidf: Sharing this here because I loved every bit of it: My Startup Banking Story by Mitchell Hashimotoewen: 'The teller looks at the paper, then looks at me, then looks back at the paper, then asks ""Are you the HashiCorp guy?"" ' 😮 (Definitely agree that post looks relevant, and is worth reading; thanks for sharing. There's quite the impedance mismatch between ""traditional banking"" and ""startup"" approaches to things. Which I suspect in part explains how SVB was so widely used by startups.)"antranigv: Question: Are there any reasons why the US is behind in these banking things? all countries in the EU and developing countries have solved these problems decade(s) ago.statuscalamitous: my personal, barely informed take: we built this infra earlier, so we have more legacya172: It sounds like what SVB was providing that was so rare was a kind of business as a service.statuscalamitous: my favorite "scare a developer" story: the way ACH payments work. that's right, SFTP!antranigv: I think you mean FTPS? did they move to SFTP? 😄drkamoz: I think the opposite is also true, without the infra, Africa’s been very early to adopt mobile banking https://www.bbc.com/worklife/article/20131217-east-africa-a-mobile-banking-hubdrkamoz: Can you explain sweep funds?Eric Likness - carpetbomberz.com: 6 months of runway some place else. Not what Peter Thiel was telling people.antranigv: What was his response?arjenroodselaar: Eject! Eject!ahl: this was a fun summary: https://svbhallofshame.wordpress.com/ahl: https://www.fdic.gov/news/press-releases/2023/pr23016.htmlantranigv: This Venture Debt is intriguing, specially for startups who have a good background but are having a hard time... kinda? I guess?ahl: Acquired: Benchmark Part Iahl: Acquired: Benchmark Part II: The DinnerIf we got something wrong or missed something, please file a PR! Our next show will likely be on Monday at 5p Pacific Time on our Discord server; stay tuned to our Mastodon feeds for details, or subscribe to this calendar. We'd love to have you join us, as we always love to hear from new speakers!
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