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Started By
Message
SVB failure isn't something that's just affecting a few thousand tech bros in SF
Posted on 3/11/23 at 6:47 pm
Posted on 3/11/23 at 6:47 pm
quote:
Hi, I’m Lindsey. A bit about me:
- Ohio mother of 4
- I employ a team of 15 as a start-up founder & CEO of Strongsuit
- drive a used Honda Odessey
- husband works in manufacturing
- The financial future of my company, team and family are at risk w/ the collapse of SVB
The collapse of SVB might look like a 1% problem that only impacts the coastal-tech-elite. Not true. This impacts small businesses made up of hard-working people making modest mortgage payments in the midwest. This impacts parents putting dinner on the table
LINK
This is just one example. This has the potential to become a broader contagion if the Fed doesn't step in over the weekend and figure this out by Monday's market open.
The All-in podcast was fire this week. Here they cover the 2nd and 3rd order effects of what would happen if SVB is allowed to fail fully and if depositors aren't made whole at the 43:58 mark - LINK
This post was edited on 3/11/23 at 6:58 pm
13
Posted on 3/11/23 at 6:57 pm to Street Hawk
You give us an example of a small tech company that's business is to make to-do lists for their clients to relieve their mental load.
This screams of tech bro business.
The SVB failure is pretty well covered. They were not smart
This screams of tech bro business.
The SVB failure is pretty well covered. They were not smart
Posted on 3/11/23 at 7:03 pm to Street Hawk
The govt will bail them out. Wash, rinse, repeat.
By govt I mean us,..middle class America
By govt I mean us,..middle class America
Posted on 3/11/23 at 7:14 pm to BHTiger
The last time we did this - remember TARP - the US taxpayers made $15B. It didn't cost us anything.
Posted on 3/11/23 at 7:16 pm to Street Hawk
Why does an Ohio mom have her entire operation tied up in a Silicon Valley Bank? Plenty of banks in Ohio.
Posted on 3/11/23 at 7:17 pm to Street Hawk
What does her company do? There are too many BS app tech companies out there. Not every single thing in life requires an app to manage it.
Posted on 3/11/23 at 7:20 pm to Street Hawk
Why didn't she have money insured
Posted on 3/11/23 at 7:37 pm to Street Hawk
You don't really believe that do you?
Posted on 3/11/23 at 7:53 pm to BHTiger
quote:
You don't really believe that do you?
It's public information. Look it up. When TARP was wound down, the tax payers received $441B vs. $426B that was put in originally. The US treasury booked a $15B profit from the program. It's just facts. Has nothing to do with party or politics. Sometimes there is no choice but for the government to step in and act as a backstop for the greater good.
This post was edited on 3/12/23 at 12:03 pm
Posted on 3/11/23 at 7:56 pm to Auburn80
quote:
Why does an Ohio mom have her entire operation tied up in a Silicon Valley Bank? Plenty of banks in Ohio.
Guessing some VC out there is paying her bills. Can't imagine many outside of that region would help start up a company for to-do lists
Posted on 3/11/23 at 8:03 pm to Street Hawk
quote:
the tax payers received $441B vs. $426B that was put in originally. The US treasury booked a $15B profit from the program.
I'm not sure you understand Math, but $15B return from $426B spent, might not even match the cost of living from 2009-2014
Posted on 3/11/23 at 8:08 pm to Street Hawk
quote:
FROM SURVIVING TO THRIVING
We provide a human-led, tech-enabled service to partner with you to anticipate, research, and clear your home and personal to-do lists and relieve your mental load. We take care of the research and the planning so you can get to the living.
Posted on 3/11/23 at 8:10 pm to tiggerthetooth
I spent about ten minutes on their website and watched their intro video and I still have no idea.
Posted on 3/11/23 at 8:13 pm to Street Hawk
Being an entrepreneur and starting a startup is risky. The idea that we should bail out a bunch of startups by bailing out a bank that took on lots of risk to back startups is ridiculous.
High risk, high reward doesn't work when you socialize the risk.
High risk, high reward doesn't work when you socialize the risk.
Posted on 3/11/23 at 8:21 pm to Street Hawk
quote:
The last time we did this - remember TARP - the US taxpayers made $15B. It didn't cost us anything.
The estimates are all over the map.
MIT calculated a net loss of half a trillion dollars. Forbes said $4 trillion, Rolling Stone said $6 trillion.
Posted on 3/11/23 at 8:33 pm to Auburn80
quote:
Why does an Ohio mom have her entire operation tied up in a Silicon Valley Bank? Plenty of banks in Ohio.
It was probably vogue in the Silicon Valley tech circles. Plus the banks in Ohio likely don’t virtue signal enough for the Silicon Valley crowd so you probably got some industry cred using their hip, PC bank.
Posted on 3/11/23 at 8:54 pm to Street Hawk
quote:
contagion
You got the script too huhPosted on 3/11/23 at 8:56 pm to TigerDeBaiter
quote:
FROM SURVIVING TO THRIVING
We provide a human-led, tech-enabled service to partner with you to anticipate, research, and clear your home and personal to-do lists and relieve your mental load. We take care of the research and the planning so you can get to the living.
So they wanna run my life but don't undesprstabd banking
Posted on 3/11/23 at 9:06 pm to Bestbank Tiger
quote:
MIT calculated a net loss of half a trillion dollars. Forbes said $4 trillion, Rolling Stone said $6 trillion.
What are you talking about? Losses to the economy or losses in TARP?
Posted on 3/11/23 at 9:07 pm to Street Hawk
quote:
contagion
Why do I keep seeing this word
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