It’s getting bad for Tech in general

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QuirkyPotato

I'm on a WhatsApp group where at least a dozen founders in BLR have said they now can't make payroll due to the 250k limit on withdrawals

FluffyNugget

Holy shit didn’t think it would’ve a ripple effect here as well

QuirkyPotato

Hits companies in india really hard.

Most startups register in USA when raising money due to better laws and simpler transactions.

You need to fly out to the US to set up an new bank account, so most startups in india will stick to one bank.

SVB was one of the simplest bank accounts to get set up when an Indian resident.

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