Results 17,326 to 17,350 of 18218
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03-10-2023, 01:36 PM #17326
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.
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03-10-2023, 01:46 PM #17327
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
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03-10-2023, 02:11 PM #17328
Sorry, who is bitching?
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03-10-2023, 02:16 PM #17329
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
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03-10-2023, 02:32 PM #17330
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03-10-2023, 02:37 PM #17331
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03-10-2023, 02:40 PM #17332
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.
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03-10-2023, 03:04 PM #17333
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03-10-2023, 03:06 PM #17334
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03-10-2023, 03:09 PM #17335"We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch
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03-10-2023, 04:17 PM #17336man of ice
- Join Date
- Jun 2020
- Location
- in a freezer in Italy
- Posts
- 7,178
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03-10-2023, 04:25 PM #17337
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03-10-2023, 04:53 PM #17338
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03-10-2023, 04:56 PM #17339
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03-10-2023, 05:44 PM #17340
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03-10-2023, 05:56 PM #17341
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03-10-2023, 06:10 PM #17342
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03-10-2023, 06:24 PM #17343
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03-10-2023, 06:55 PM #17344
Captain getting off before the ship sinks, leaving passengers and crew to fend for themselves. Tale as old as time.
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03-10-2023, 08:02 PM #17345
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.
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03-10-2023, 08:10 PM #17346
Good luck AK and the Mrs. Sorry to hear this happened to you.
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03-10-2023, 08:32 PM #17347
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03-10-2023, 08:40 PM #17348
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03-10-2023, 10:29 PM #17349
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03-10-2023, 11:55 PM #17350
indeed - sorry AK - sending positive vibes your way for what it's worth
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