Silicon Valley’s Titans Are Realizing a Lot of People Really Don’t Like Them; A bank run led to a wake-up call for America’s most coddled class of plutocrats. (a surprisingly decent read from New Republic)

New Republic ^ | March 14, 2023 | Matt Ford

[cgbg]

Just to be absolutely clear—libertarians are fanatically opposed to censorship—by anybody and of anybody.

Anyone who claims to be “libertarian” that favors any kind of censorship, public or private, is a liar.

[cgbg]

The writer can’t figure out the “woke” issue—it seems to have gone right over their head.

Conclusion—they are not very bright.

[Zhang Fei]

[I suspect Matt Ford wouldn’t enjoy the FReeper Company Barbecue. But his batting average on this article is waaaay better than any utterance from Willard, Yertle, Paul Ryan, or that gasbag Billy Kristol.

I’ll take the win, no matter how ugly.]

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The author basically criticizes Silicon Valley for not being woke enough. To the extent a passive aggressive polemic like this gets Silicon Valley rowing in its direction, it’s a win - for the left.

[Svartalfiar]

Sacks noted in a Unherd interview on Sunday night. “If this was a farmers’ bank and it was 40,000 farms, small business farms that were on the hook, everybody would understand. The arguments being made would be: we can’t let 40,000 farms go out of business. They didn’t do anything wrong. They just trusted when they put their money in a bank that it was safe.”

If that was the case, I guarantee more than 3% of the farms would be within the $250M FDIC cap. It'd be a couple people losing some of their money, not every customer *losing* 99%.

[Svartalfiar]

Don’t push the payroll crap either. There are multiple ways to mitigate risk of having cash above the FDIC limit of $250k. If these eff’n people focused on business instead of being woke they would know that.

If you pay your employees an average of $100M a year, that's ~$2000 a week or $4000 every two-week pay period. You just have room to pay SIXTY-FIVE employees before you hit the FDIC cap. That's a pretty sizeable company, certainly isn't some tech startup with ten people unless everyone's making a half-million a year or more.