Supposedly they put "all their eggs" in the SVB basket on the advice of Oprah who also put a lot of her money there. They did it because among liberals SVB was a trendy woke bank and if you put a lot of your money there it was like a giant virtue signal.
but how was their money positioned at bank - how much in cash (at risk), how much invested, how much w/money manager...or in cd’s - we don’t know this or even if they are depositors. banks don’t just deal in cash.