Patreon.com.svb -

: Many startups were on the "razor’s edge" during the collapse, worried they wouldn't make payroll.

For a few tense days in March 2023, the phrase "Patreon" and "SVB" (Silicon Valley Bank) were locked together in a way that made every independent creator hold their breath. As the "godfather of Silicon Valley banking" imploded, many realized for the first time just how much their "independent" income relies on a complex web of traditional financial institutions. Patreon.com.svb

Creators love to think of themselves as being outside the "system." But the SVB event showed that the "System" is exactly what powers our tools. Patreon uses partners for everything from payment processing to fund storage. : Many startups were on the "razor’s edge"

: Understanding who your platforms bank with—or at least knowing they have "diversified banking relationships"—is now a standard part of business due diligence for high-earning creators. 3. Resilience and the "State of Create" Creators love to think of themselves as being

What the Silicon Valley Bank (SVB) collapse means for our ... - Impact