Maples: Protecting SVB depositors does not resemble a bailout
Mike Maples · Mike Maples: Lessons from SVB; Crisis Management Tips; USD's Status as the Reserve Currency | E993 · 20VC with Harry Stebbings · Mar 24, 2023 · at 32:07
Mike Maples, co-founder of Floodgate, argues against labeling federal intervention for SVB depositors as a startup bailout given the lack of transparent bank reporting.
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“Yeah, it's incredible to me that you could put your money in a bank, that there's not transparent reporting that the federal government said was okay, and now it's like somehow an entrepreneur's fault because The bank's assets weren't what they said they were, and you would have had to be a financial guru reading footnotes to know that that was the case. Like, it's incredible to me that anybody would say that remotely resembles a bailout.”
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