@angusdav Great points, 100% agree. Add to timeline-whose brilliant idea for a press release on half-baked funding a day after Silvergate? Makes Musk’s 420 seem quaint. This was 100% on SVB leadership and masterclass of how NOT to manage IR and crisis comms. The VC led the run story is BS
@dj Underlying risk mgmt is one thing but re: preventability of bank run past 48hrs- this is worst IR comms and crisis PR I’ve ever experienced. A unsettling conference call by CEO followed by crickets. Whose idea to announce a half-baked funding press release 1 day after Silvergate?
@Castiglione_S@hkanji Not the job of VCs to calm down- both VCs and their portfolio companies’ CEOs have their own respective fiduciaries. It’s 100% on SVB leadership for both the poor risk management calculus last year and inane IR/comms strategy over past 72 hours. Buck stops with SVB, full stop.
@hkanji The worst IR comms and crisis PR I’ve seen, look fwd to the HBS case. A terribly unsettling conference call by CEO followed by complete silence. Whose genius idea to issue a half-baked funding press release hours following Silvergate’s failure? Unbelievable and sad own goal here