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Started By
Message
Can someone who understands venture-capital explain to me why the uproar?
Posted on 3/10/23 at 9:21 pm
Posted on 3/10/23 at 9:21 pm
I see all these tech industry workers whining about how big of a deal this is.
One example was from a big tech company that raised a bunch of money, and deposited it into one of these banks? Now, the market has tanked and most of that money they put in, has dwindled down to almost nothing.
So it’s not like an actual bank, where you just put your money in and it stays there till you need it? More like a 401k, where your investment goes up and down based on the market? You know those risks going in, right?
One example was from a big tech company that raised a bunch of money, and deposited it into one of these banks? Now, the market has tanked and most of that money they put in, has dwindled down to almost nothing.
So it’s not like an actual bank, where you just put your money in and it stays there till you need it? More like a 401k, where your investment goes up and down based on the market? You know those risks going in, right?
7
Posted on 3/10/23 at 9:22 pm to TackySweater
quote:
So it’s not like an actual bank, where you just put your money in and it stays there till you need it?
Apparently you don’t know how banks work
Posted on 3/10/23 at 9:23 pm to TackySweater
quote:
I see all these tech industry workers whining about how big of a deal this is. One example was from a big tech company that raised a bunch of money, and deposited it into one of these banks? Now, the market has tanked and most of that money they put in, has dwindled down to almost nothing. So it’s not like an actual bank, where you just put your money in and it stays there till you need it? More like a 401k, where your investment goes up and down based on the market? You know those risks going in, right?
Yikes.
Posted on 3/10/23 at 9:23 pm to TackySweater
$200 billion of which 90% was not FDIC insured meaning it has basically disappeared and you don't see how it's a big deal?
This post was edited on 3/10/23 at 9:24 pm
Posted on 3/10/23 at 9:24 pm to TackySweater
quote:
So it’s not like an actual bank, where you just put your money in and it stays there till you need it?
Posted on 3/10/23 at 9:28 pm to TackySweater
Thanks for proving I am not the dumbest poster on this board.
Posted on 3/10/23 at 9:47 pm to TackySweater
(no message)
This post was edited on 3/10/23 at 9:49 pm
Posted on 3/10/23 at 10:01 pm to TackySweater
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