Garry Tan says SVB collapse will set innovation back a decade and that FDIC must make receivership "as short as possible."
That’s Garry Tan on Twitter Friday following the failure of Silicon Valley Bank, the largest bank failure since Washington Mutual in 2008, calling it an “extinction level event” for startups that will set innovation back a decade.
Read:... “‘This is an “extinction level event” for startups and will set startups and innovation back by 10 years or more. BIG TECH will not care about this. They have cash elsewhere. All little startups, tomorrow’s Google’s and Facebooks, will be extinguished if we don’t find a fix.’”
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