Vision

Vision

First and foremost, we are prioritizing the short term interests of the startup and venture communities who were affected by this crisis, in particular the estimated 95% of uninsured deposits held at SVB. Quickly stabilizing the ecosystem with a well capitalized bank that caters to the startup world is critical.

Should an investment in SVB occur, our longer term vision is to empower the startup and venture ecosystem to meaningfully participate in a community-driven, blockchain-enabled bank. We believe that a decentralized and community-driven governance approach, as well as incorporating blockchain technologies into banking processes, ultimately leads to better product offerings and customer experiences. This means finding opportunities for the people and organizations that the bank serves to collectively have real ownership of the organization in terms of both equity and influence in governance and decision making, while ensuring that strong controls, frameworks, and incentives are in place.

While we realize that a DAO investing in a Bank is probably unlikely, we feel compelled to take action here in support of the startup community and an institution that has been supporting us for four decades.

In the high likelihood that this is not successful, we will focus our efforts on deploying capital quickly at standardized terms to startups who are affected by this crisis and need access to capital to continue operations or secure necessary runway. A run on the bank should not kill startups that are otherwise healthy and growing.