You suddenly receive an ALL CAPS email from your boss. You are told to do something immediately. No question asked. Do you trust your boss and do it right away? Or you think the email account has been hacked and delete the message? Will you at least go and verify?
Such is the case two weeks ago when the CEO of a Silicon Valley startup received urgent messages from the company’s big investors.
“Go into your SVB (Silicon Valley Bank) account now. Take all your money out as soon as possible.”
The CEO decided to check with some friends to confirm what has happened. Next, she hurriedly withdrew as much money as possible from her company’s SVB account by transfers and wires. Right before the website clashed, only less than $250,000 left – the maximum amount insured by FDIC (Federal Deposit Insurance Corporation).
This is the story she shared in the CNN video “CEO describes pulling money from bank hours before collapse”....