Venture capitalists have never been more divided, with accusations flying over who killed their beloved bank SVB. How long will the bad blood last?
"Our industry has shot itself in the foot," Suster said. As much as venture investors who spoke with Insider would love to punish those who they say contributed to SVB's downfall or acted irresponsibility afterwards, most said they have no choice but to set aside their differences and work together in the future. In the end, it is the job of VCs to make money for their limited partners by getting in the best deals, not hold grudges.
"There will be lingering bitterness, but I don't think it's gonna effect the firms," Suster said."I would love to tell you otherwise, but as long as entrepreneurs are willing to take money from you and as long as LPs are willing to give you money, no amount of my not wanting to work with people is going to effect these firms, sadly.
"It seems like everything is back to normal," said Nico Bonatsos, managing director of General Catalyst. "What people say online, the good news is the internet forgets quickly." Not everyone is willing to move on so easily. to highlight VC firms that advised founders to pull their money out of SVB. "Those players within the venture capital community who were singularly responsible for triggering and then exacerbating this run will not escape accountability," the website states."Future founders will be wary of your interest. They will know you are not a reliable partner, ready to throw them to the wolves at a moment's notice. You will be remembered for your hypocrisy."Sign up for notifications from Insider! Stay up to date with what you want to know.
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