Etsy Delays Seller Payouts Due to Run on Silicon Valley Bank
The sentiment on Twitter seems to be “tough. You, Etsy seller, took a risk by selling on a platform that used a bank that made a bad investment. The tax payer shouldn’t bail out a bunch of rich pottery artists.”These sorts of effects (Etsy sellers not getting paid) are going to show up all through the ecosystem if 25% of venture backed companies can’t make payroll next week.SVB equity holders should go to zero. But it’s in our collective best interest to make sure that depositors have timely access to some meaningful portion of their deposits.