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  1. #17326
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    Quote Originally Posted by skaredshtles View Post
    Gotcha. Makes sense. So there may be some commercial customers in Silicon Valley that take quite a haircut, eh?
    It’s going to exacerbate the recent slowdown in the space too.
    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.

  2. #17327
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    Quote Originally Posted by JimmyCarter View Post
    It’s going to exacerbate the recent slowdown in the space too.
    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.

    Jason Calacanis is doing a live update on YouTube about this- https://www.youtube.com/live/V7VniWpD0dw?feature=share

  3. #17328
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    Sorry, who is bitching?

  4. #17329
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    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

  5. #17330
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    Quote Originally Posted by JimmyCarter View Post

    They’ll see if they can get a buyer this weekend I assume
    This fo sho.
    Decisions Decisions

  6. #17331
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    Quote Originally Posted by Brock Landers View Post
    This fo sho.
    I’ve heard rumors most of the liquid stuff has already been sold by FDIC and significant chunk of recovery could happen by next week

  7. #17332
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    Quote Originally Posted by JimmyCarter View Post
    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.
    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.)

    Everyone taking a 5% haircut wouldn’t be catastrophic to the system. Not having access to funds for an extended timeframe could be.

  8. #17333
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    Aug 2004
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    Quote Originally Posted by Brock Landers View Post
    This fo sho.
    You can hear Uncle Warren and Masa Son sharpening up their pencils as we speak.
    Charlie, here comes the deuce. And when you speak of me, speak well.

  9. #17334
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    Click image for larger version. 

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  10. #17335
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    Sep 2006
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    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  11. #17336
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    in a freezer in Italy
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    Quote Originally Posted by Mazderati View Post
    I'm sure the selling is just a big coincidence.
    "The strangest thing happened..."

    Good luck to Ak and wife

  12. #17337
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    Quote Originally Posted by dunfree View Post
    turtle chimed in, now Johnny drama. Where’s Vince?
    Raising money for a SPAC to buy the assets out of receivership that will collapse 6 months later?

  13. #17338
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    Quote Originally Posted by JimmyCarter View Post
    Raising money for a SPAC to buy the assets out of receivership that will collapse 6 months later?
    so who’s gonna buy twitter?

  14. #17339
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    Quote Originally Posted by dunfree View Post
    so who’s gonna buy twitter?
    Zhang Yiming

  15. #17340
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    Quote Originally Posted by ötzi View Post
    "The strangest thing happened..."

    Good luck to Ak and wife
    Thanks.

    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.

  16. #17341
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    Is the stock market going to tank?

    Quote Originally Posted by Stu Gotz View Post
    You can hear Uncle Warren and Masa Son sharpening up their pencils as we speak.
    The Japanese own a ton of the debt and equity.

    But I think it may go to an American bank….
    Decisions Decisions

  17. #17342
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    Feb 2005
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    North Vancouver/Whistler
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    Quote Originally Posted by Cono Este View Post
    Why are they taking a position?
    Quote Originally Posted by AK47bp View Post
    Thanks.

    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 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 staff

  18. #17343
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    Quote Originally Posted by LeeLau View Post
    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 staff
    Total cunt.

    My wife is (was) on the team that monitors employee trading and saw his transaction earlier.

  19. #17344
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    Captain getting off before the ship sinks, leaving passengers and crew to fend for themselves. Tale as old as time.

  20. #17345
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    Feb 2012
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    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.

  21. #17346
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    Good luck AK and the Mrs. Sorry to hear this happened to you.

  22. #17347
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    The Mayonnaisium
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  23. #17348
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    Quote Originally Posted by Buzzworthy View Post
    Good luck AK and the Mrs. Sorry to hear this happened to you.
    Thanks.

    If you see my Billy Goats in gear swap you’ll know shit the fan.

  24. #17349
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    Quote Originally Posted by AK47bp View Post
    Thanks.

    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 nonsense

  25. #17350
    Join Date
    Dec 2005
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    11,145
    indeed - sorry AK - sending positive vibes your way for what it's worth

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