The Small Business Administration has a $349 billion emergency fund to provide some relief to small businesses across the country hurt by the coronavirus. But a possible alternative source of funding for cash-strapped tech startups could be the tech giants, which between them have much more cash than the SBA.
Apple, Alphabet, Amazon, Facebook and Microsoft had a combined total of $570 billion in cash and investments at the end of December (see above chart for details). That positions the group to lend a hand by either investing in or acquiring cash-strapped startups with promising technologies or enterprising talent. It also is a reminder that the SBA program needs more money, a point that Senate Majority Leader Mitch McConnell made on Tuesday.