ping
Are we looking at another “Too Big to Fail”? I hope not. SVB went woke, now they need to feel the pain of go broke.
and make no mistake while they were stealing from savers to fund Wall St and the banks-
the free money era funded soooooooooooo much of the whackjob leftist socialist agenda. Maybe it wouldn’t be quite an extinction level event if Musk didn’t prove that 85% of their workforces are virtue signalling sjws accomplishing no actual work.
How many of these startups have goofy names that make no sense and are a hare-brained scheme of a black or female millennial that is just following their heart?
he of the perfumed hairspray should ride in on a white horse and divert funds from everyone’s favorite HSR to nowhere for a month, that should take care of it
Many of these startups spend like drunken sailors since the venture capitalist money is freeflowing. Lavish food spreads, private jet flights, exorbitant salaries and compensation for still unprofitable companies. Forgive me if I don’t feel sorry that they “can’t make payroll” this week. Same sob story we hear when Democrats bring up Republicans trying to hurt poor grandma or single mothers when a government shutdown is looming. Of course, we all know they WILL be bailed out, because it’s Silicon Valley and leftist’s largest contributors.
When I was young I remember some saying to the tune of “don’t put all your eggs in one basket”.
If you have accounts at SVB with $250,000 (each) or less, you’re safe. Anything over $250,000, it’s gone.
If Enron was called the Smartest Guys in the Room, it could be that SVB was the most ESG guys in the room.
Don’t worry...Newsome will find some kind of fund...kinda like...reparations....cuz neither should happen...
SVB is a Lehman size disaster, no doubt there will be big downstream financial events from this. I predict the market will crash sooner than people thought, Black Monday perhaps.
The dumbest people in the world are those who think they are experts in the financial world.
A crisis to be sure for companies that didn't have the inside information the bank officers had so they could pull their money ahead of the failure as the bank officers did when they sold their stock, but I wonder if ol' Garry Tan said the same thing when his favorite politicians and unelected bureaucrats caused a whole bunch of "extinction level events" with their deliberately imposed lockdowns, blaming it, of course, on the Fauci Flu rather than on themselves.
Not to worry. We taxpayers will bail them out.
Oh. And don’t forget to pay your fair. Only a few more weeks to file.
They need to find actual jobs. The last time I checked, Starbucks is still hiring. Perfect for their skill set.
Most of these startups are DEI/LGBTQIININPN/ESG woke youngsters who would kill us.
I hope they lose it all.
The propaganda to bail out these fools continues apace.
SVB bank failure is huge, since SVB was a top bank for top businesses. It is reasonable that a bank highlights victim groups and downplays customer accounts would fail.