The venture capital community had no obligation to rescue Silicon Valley Bank as it struggled to stay afloat amid a run by depositors, Thiel Capital’s
“There have been other VCs saying, ‘We’re a community. Why didn’t we step up to save it?’” Selby said. “Personal opinion: that’s rubbish. Our number one fiduciary responsibility is to make money.”
Selby, one of PayPal Holdings Inc.’s first employees who is now a managing director at
SVB’s collapse emphasized the fiduciary role ...