> closer to reality for an engineering salary

Never mind engineering, how much are SV startups paying their corporate finance and corporate treasury officers?

Not enough, perhaps.

The entire banking system was about to be revealed as a total clown show scam (that it is) if they weren’t going to step in here. How do you expect an SVB company to run payroll for more than 10 or so employees in a risk free way? How about 100 employees? If you can’t even ensure a tiny company can do that without losing everything and folding then you have problems with your banking system that are wayyyy more serious. This epiphany was going to happen in an extraordinary way today if they didn’t restore confidence in the (very broken) system.

> The entire banking system was about to be revealed as a total clown show scam (that it is) if they weren’t going to step in here.

It's fairly simple:

When things are going well, entrepreneurs want the state and its oh-so-tiresome regulation to get out of their way.

Then, when things don't go well, it's those very same entrepreneurs who claim it's necessary for the state to step in and save everyone.

https://twitter.com/BillAckman/ is quite the read at the moment.

A 10 person company shouldn’t need a “treasury management” strategy in a functional banking environment.

> A 10 person company [..]

Newsflash: there are plenty of places, and plenty of sectors, where a 10-person company hasn't got anywhere near enough cash on deposit to reach the local deposit guarantee limit.