Nobody Studios · Good News! No Significant...

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<h3>The quick summary is that we do NOT have any significant financial exposure to SVB. </h3>Hello, current and potential Nobodies ... many of you have become aware of the issues surrounding Silicon Valley Bank ("SVB").  Given the severity of the situation, we have received inquiries as to whether we have significant financial exposure to SVB. The quick summary is that we do NOT have any significant financial exposure to SVB.  We have historically used SVB, but we've also had a backup Wells Fargo account in place for some time now. We were able to redirect incoming wires and move to Wells Fargo as our primary operating account. As such, we only have a few thousand dollars in the SVB account, which is well below the $250k insured by the FDIC.  We also do not have any SVB loans or VC-backed funds there. We'll monitor the SVB outcome and hope everything works out for them and their clients, but we are not dependent on them for our operations. If you have any questions or concerns, please don't hesitate to reach out.Humble and grateful,Nobody Studios

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Mar 13

2023

Good News! No Significant Financial Exposure

The quick summary is that we do NOT have any significant financial exposure to SVB.

Hello, current and potential Nobodies ... many of you have become aware of the issues surrounding Silicon Valley Bank ("SVB").

Given the severity of the situation, we have received inquiries as to whether we have significant financial exposure to SVB. The quick summary is that we do NOT have any significant financial exposure to SVB.

We have historically used SVB, but we've also had a backup Wells Fargo account in place for some time now. We were able to redirect incoming wires and move to Wells Fargo as our primary operating account. As such, we only have a few thousand dollars in the SVB account, which is well below the $250k insured by the FDIC.

We also do not have any SVB loans or VC-backed funds there. We'll monitor the SVB outcome and hope everything works out for them and their clients, but we are not dependent on them for our operations.

If you have any questions or concerns, please don't hesitate to reach out.

Humble and grateful,

Nobody Studios

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3 years ago

Thanks.

1 like Reply

Thank you for the update. Have you looked into recent “glitches” with Wells Fargo. Recent as in last Friday! That and the $2B in losses from customer litigations in 2022 may not make it the best place to run too.

3 likes Reply

@karen-zeigler thank you for your feedback. We've had this account for a while as a backup; but to your point, we may now need a backup to our backup. Crazy times. Thanks for your note

@greg-lovett Indeed crazy times! I think we are in for a wild ride. I certainly don’t want anything to hinder the great mission that Nobody Studios is on!!