Quote:
Originally Posted by opendoor
Roku apparently had 26% of their cash (about $487M) in that bank, and essentially none of it is insured.
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Is that necessarily bad? Seems like that it was appropriately risk managed. Can't imagine it would be normal for a corporation to have their cash spread across 10 different banks.
Some of the startups likely had most, if not all, of their cash at SVB. Sounds like that bank was favored in that space.