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SVB? This is an Opportunity for Israeli Banks
The Silicon Valley Bank Collapse is scary and is causing elevated anxiety to startup entrepreneurs all over.
Israeli startups are not an exception.
In general, the last several weeks have been crazy for Israeli citizens.
Political drama. Questions about democracy and what it actually is? From both sides of the political ecosystem.
This led several startup founders to move their company’s funds abroad, both as a political statement and also as an “out of fear” move.
Lots of people were against these types of moves. Some people were for it.
Israeli banks have felt the heat.
However, with the collapse of SVB, we have been seeing how quickly Israeli founders are trying to move their funds.
Yes, there is a heavy hint of irony. But that can be debated.
What can’t be debated is the unbelievable opportunity Israeli banks have at this moment.
The ability to “come to the rescue” and showcase how helpful they can be. How founders and investors should trust them.
The banks who are going to move fast are the ones who will benefit long-term from this situation.
What many have come to learn from this is that politics is politics.
But business is, well, always business.