Some perspective on SVB and noise


Eagle, CO

Last updated on Mar 11, 2023

Posted on Mar 10, 2023

There's a lot of noise on crypto Twitter right now - FUD about interest rates and market conditions. Bitcoin maxis and neocons are want to pin it all on the Biden administration. Thought I'd offer a little perspective.

The interest rate on my first business loan circa '91 was 13%. The interest rate on one SBA loan was at least 11%. At times I used credit cards to fund my business. I probably paid 20% interest or more. All with excellent credit.

I started my 2nd company right after the dotcom crash. Since then we made it through the 2008 crash, other stuff that kills so many small businesses. Made it through COVID. Knock on wood.

How? There's no one hack, one thing to point to. To live to see another day in small business world you need great people, timing, and luck.

Over the years high interest rates, high taxes, market conditions, who's in charge of the government, has never been a concern or in my radar. Not for me, or other entrepreneurs I hang with.

Nada. Instead, all we care about is one thing: are we making something that customers must-have?

If I'm a crypto entrepreneur I'm tuning out all the noise. SVB? Good ideas, must-have products, and great people are always gonna make it. I'm laser focused on making something that customers must-have. Get back to work. Because I know if I'm onto a must-have, the noise doesn't matter.  


I had a meeting with SVB back in the day. Their merchant account fees were way more than the highest rates anyone else quoted. No SBA relationship to speak of. I left the meeting smh. Couldn't see what all the fuss was about.

SVB failed not because the sky is falling in crypto. It looks like their problems are because of a bad bet and/or they didn't have product market fit.


The image in the preview? It's Harmony Scream, Ron English's toy. It's near my desk as a reminder to tune out the voices in my head, and in the world.

tty next time,

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