: 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"
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
What the Silicon Valley Bank (SVB) collapse means for our ... - Impact : Understanding who your platforms bank with—or at
Beyond the Headlines: What the "Patreon-SVB" Connection Taught the Creator Economy As the "godfather of Silicon Valley banking" imploded,
: Don't leave your entire balance in a creator platform longer than necessary. Set up automatic monthly or weekly payouts to your own diversified bank account. 2. The Infrastructure of "Independent" Work
: Many startups were on the "razor’s edge" during the collapse, worried they wouldn't make payroll.