Medium Is NOT Affected by the Silicon Valley Bank Collapse
Readers and writers don’t need to worry.
UPDATE: Statement from Tony Stubblebine, CEO of Medium
It appears Medium is not affected by the Silicon Valley Bank situation:
We are not. Our money is in two different banks and we have emergency access to capital. Plus, for author payments we would still have several weeks to work out an emergency solution if we needed to. Definitely an alarming situation with SVB but we are removed and protected in several ways. — Tony Stubblebine
This is good news. So while things are unraveling with other companies, Medium is solid.
Original Story
Silicon Valley Bank, known for investing in companies like Medium, has collapsed and been taken over by FDIC. This is due to a bank run by venture capitalists following a financial shortfall in assets.
I don’t know enough about the financial industry to go into detail about the background of this sudden event, but what I do know is that many technology companies are facing problems making payroll or other financial transactions.
One such company may surprise you: Etsy. Some sellers have received e-mails announcing that their…
