We want to reassure our users that Glide hasn’t been affected by the collapse of Silicon Valley Bank (SVB). Thanks for your questions and support. We are here to stay and grow with you all.
Great PR and more importantly it’s a considerate message to the Glide community. You guys really can’t help but nail it, can you. Way to go.
Pure luck in this case.
Yeah it makes you wonder: as a business, does it make sense to mitigate risk and have multiple bank accounts. It’s crazy that we’ve come to this but I guess it’s part of risk management.
I think the problem is that SVB was not very diversified in their clients…most of which were tech startups and venture capitalists. That’s a pretty high risk market on their part. Plus I think they made some unwise investments in bonds. I think most banks would not be so hyper focused on a certain type of clientele and would be a little more diversified.
And if it’s one thing I learned about this forum, is that @Jeff_Hager has a confidence rate of 99.9%…so must be true!
Ha! Not sure about that.