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It’s going to exacerbate the recent slowdown in the space too.Quote:
Originally Posted by skaredshtles
Investors will need to decide whether to throw more money at backstopping the companies who lost their deposits. A bunch will die quickly, a few more will muddle through for a while but probably die before they can raise another round, and some will be saved.
A lot of the investor money is tied up in this as well. Dozens of VC firms hold their LP money in SVB.Quote:
Originally Posted by JimmyCarter
Jason Calacanis is doing a live update on YouTube about this- https://www.youtube.com/live/V7VniWpD0dw?feature=share
Sorry, who is bitching?
So if the math is correct, because it’s mostly a duration mismatch, depositors should actually be made whole or recover significant portions (95+ %) of the uninsured deposits eventually, it just might take too long for some.
They’ll see if they can get a buyer this weekend I assume
This fo sho.Quote:
Originally Posted by JimmyCarter
I’ve heard rumors most of the liquid stuff has already been sold by FDIC and significant chunk of recovery could happen by next weekQuote:
Originally Posted by Brock Landers
Right. It’s not as if the money is just gone, it’s that since a large portion of the deposits aren’t insured then in a run scenario 95% of people could be getting all their money back, and 5% get completely wiped out. Regulators needed to prevent that (maybe should have seen it earlier? I don’t know.)Quote:
Originally Posted by JimmyCarter
Everyone taking a 5% haircut wouldn’t be catastrophic to the system. Not having access to funds for an extended timeframe could be.
You can hear Uncle Warren and Masa Son sharpening up their pencils as we speak.Quote:
Originally Posted by Brock Landers
"The strangest thing happened..."Quote:
Originally Posted by Mazderati
Good luck to Ak and wife
Raising money for a SPAC to buy the assets out of receivership that will collapse 6 months later?Quote:
Originally Posted by dunfree
so who’s gonna buy twitter?Quote:
Originally Posted by JimmyCarter
Zhang YimingQuote:
Originally Posted by dunfree
Thanks.Quote:
Originally Posted by ötzi
CEO addressed the team an hour ago. Bunch of hot air nothing. “Hang tight team…..yada yada yada…… hope to figure something out….please stick around”
The news gives more details than SVB is giving staff. Seems standard unfortunately.
The Japanese own a ton of the debt and equity.Quote:
Originally Posted by Stu Gotz
But I think it may go to an American bank….
Quote:
Originally Posted by Cono Este
The same CEO who unloaded 11% of his holdings at $ 280 per a "pre-planned" stock sale program. No doubt his thoughts and prayers will be with staffQuote:
Originally Posted by AK47bp
Total cunt.Quote:
Originally Posted by LeeLau
My wife is (was) on the team that monitors employee trading and saw his transaction earlier.
Captain getting off before the ship sinks, leaving passengers and crew to fend for themselves. Tale as old as time.
The shitcan notice was just sent. 45 days payout at 1.5x salary and 2x hourly pay rate for non-exempt staff.
Not sure if they are expected to keep “working” for that period or what. More details later this weekend.
Good luck AK and the Mrs. Sorry to hear this happened to you.
Thanks.Quote:
Originally Posted by Buzzworthy
If you see my Billy Goats in gear swap you’ll know shit the fan.
Sorry to read about your situation...sucks to be on the receiving end of this nonsenseQuote:
Originally Posted by AK47bp
indeed - sorry AK - sending positive vibes your way for what it's worth