Two of tech’s biggest entrepreneurs, OpenAI CEO Sam Altman and storied venture capitalist Vinod Khosla, are offering personal capital to startups on the brink of SVB collapse as their money remains locked up at Silicon Valley Bank. The bank, which was shut down and taken over by regulators on Friday, is involved with nearly half of all US venture capital-backed startups.
Beyond the fact that it is an investor’s job to invest, there’s something to be said about using personal capital to help businesses. The situation, rapidly unfolding, is also complicated by the fact that it’s the weekend so people can’t easily move money or they don’t have liquid cash.
Altman, the former CEO of Y Combinator, confirmed to TechCrunch that he’s using a “decent amoun...
