My startup banking story (2023)

This was a super-interesting read, but I'm disappointed there isn't a description of what, exactly, was wrong about what he did, and what one should do instead. The only thing that comes to mind is the obvious one: you don't want more than the FDIC limit in a single bank account.

> you don't want more than the FDIC limit in a single bank account

especially when you're talking about Silicon Valley Bank, ironically.

Eh, depends. It's perfectly alright to put in more than the FDIC limit in a bank with consumer banking services. The amount of scrutiny and shit they have to put up with means that they can't really try SVB type shenanigans. You can bet your ass if Wells Fargo, UBS or Chase goes under, the Fed will bail them (you) out. The alternative would be having bigger problems in your plate than that.

Source: I'm a recent Credit Suisse business banking customer. Now UBS.

> you don't want more than the FDIC limit in a single bank account.

If the FDIC limit is a concern, you don't want to make the mistake of thinking it applies on a per account basis (it applies per depositor per institution per account class.)