|
evilweasel posted:is it good with money to reassure the depositors at your bank they have no reason to panic <checks ticker>  no
|
#
?
Mar 10, 2023 04:21
|
|
|
|
| # ? Jun 6, 2024 20:46 |
|
|
Sundae posted:I think how is bbby formed was actually a thread title too. That or a good recurring joke (How) BBBY Was Made
|
|
#
?
Mar 10, 2023 05:14
|
|
|
https://twitter.com/WatcherGuru/status/1634039856924860416 sidenote: what happened to cramer's voice?
|
|
#
?
Mar 10, 2023 06:48
|
|
|
Strong Sauce posted:https://twitter.com/WatcherGuru/status/1634039856924860416 Posting Cramer here is cheating.
|
|
#
?
Mar 10, 2023 06:58
|
|
|
Strong Sauce posted:https://twitter.com/WatcherGuru/status/1634039856924860416 He's been 24/7 wasted since 2021. Or he suffered some sort of brain damage around then. Possibly both.
|
|
#
?
Mar 10, 2023 07:13
|
|
|
perhaps he recognizes the terrible, terrible ridiculousness of a widely broadcast tv show that purports to get you alpha
|
|
#
?
Mar 10, 2023 07:14
|
|
|
Apparently the Inverse Cramer EFT has finally gone live. 1.5% fees though.
|
|
#
?
Mar 10, 2023 07:23
|
|
|
highly active management, they gotta watch his show and twitter feed and snap trade every day
|
|
#
?
Mar 10, 2023 07:26
|
|
|
bob dobbs is dead posted:highly active management, they gotta watch his show and twitter feed and snap trade every day They should probably up the fee.
|
|
#
?
Mar 10, 2023 07:58
|
|
|
Sundae posted:I think how is bbby formed was actually a thread title too. That or a good recurring joke I think it is too but wasn't going to pass up on the opportunity to say it again. e: BBBY Was Made: how can I take out a mortgage in my son's name?
|
|
#
?
Mar 10, 2023 09:42
|
|
|
Strong Sauce posted:https://twitter.com/WatcherGuru/status/1634039856924860416 The first director of my current department at work left to go work for them. As did his handpicked successor, and the entire management team from his site. I'm not shocked this is happening.
|
|
#
?
Mar 10, 2023 14:28
|
|
|
i've lived in the bay area for a decade+ now. this is the first time i've heard of this bank. but also if you told me there was a bank that only really catered to startups. i would have said, that sounds incredibly risky.
|
|
#
?
Mar 10, 2023 18:17
|
|
|
they dont do retail customers at all. no retail branches they dont actually loan to the startups they take deposits from the startups
|
|
#
?
Mar 10, 2023 18:27
|
|
|
...and now it's gone.
|
|
#
?
Mar 10, 2023 18:29
|
|
|
https://twitter.com/jimcramer/status/1634222320398086145 should i be taking my money outta my chase bank account??? bob dobbs is dead posted:they dont do retail customers at all. no retail branches i said what i said.
|
|
#
?
Mar 10, 2023 18:30
|
|
|
It catered to VCs. And for the FDIC to be acting this aggressively there is a poo poo ton of exposure that we don't know about yet. Strap in.
|
|
#
?
Mar 10, 2023 18:32
|
|
|
So realistically a ton of SV companies had their payroll money in there and are about to lose a fraction of it,yeah?
|
|
#
?
Mar 10, 2023 18:39
|
|
|
Motronic posted:It catered to VCs. FDIC is also used to dealing with a few bank failures a year, most of which are also of the Second Bank of Jim Bob, with three branches and seventeen depositors variety. Having multiple billion plus cap banks fail in a week is very much not within their normal pattern. Of course they're spooked.
|
|
#
?
Mar 10, 2023 18:39
|
|
|
Twerk from Home posted:So realistically a ton of SV companies had their payroll money in there and are about to lose a fraction of it,yeah? almost by definition very few that youve heard of
|
|
#
?
Mar 10, 2023 18:40
|
|
|
bob dobbs is dead posted:almost by definition very few that youve heard of Sure, but a lot of tiny companies still adds up. Assuming the FDIC acted fast enough they'll probably get most of their money back eventually but it's about to be an awkward few months.
|
|
#
?
Mar 10, 2023 18:44
|
|
|
Silver lining- Peter Thiel's VC fund might have lost a huge chunk of money.
|
|
#
?
Mar 10, 2023 18:49
|
|
|
Even if you didn't directly use SVB, if your company uses Rippling for HR payroll, you aren't getting paid today. https://twitter.com/parkerconrad/status/1634237386564730882
|
|
#
?
Mar 10, 2023 18:52
|
|
|
A lot of startup founders were emailed yesterday afternoon to get their money out. It was an old fashion bank run.
|
|
#
?
Mar 10, 2023 18:54
|
|
|
From 2015: https://archive.is/O9G2b At Silicon Valley Bank, risky tech start-ups are lucrative business. quote:Silicon Valley Bank often requires founders to hand over small ownership stakes in return for more favorable credit terms. Profits on equity warrants — options to acquire stock cheaply — can yield big profits when companies go public.
|
|
#
?
Mar 10, 2023 18:54
|
|
|
the underlying ostensible cause is treasuries getting more expensive, not startup credit failures. so just the second domino, not the last charles schwab, boa and wells fargo are looking vulnerable according the the equities markets. i bet charles schwab next banking! what a business bob dobbs is dead fucked around with this message at 19:09 on Mar 10, 2023 |
|
#
?
Mar 10, 2023 19:04
|
|
|
what a fuckin day for matt levine to take off (he tries to take every friday off i know)
|
|
#
?
Mar 10, 2023 19:05
|
|
|
Twerk from Home posted:Sure, but a lot of tiny companies still adds up. Assuming the FDIC acted fast enough they'll probably get most of their money back eventually but it's about to be an awkward few months. NYT article seems to imply they were dumping the money into long term government bonds, so at least on the surface it doesn't appear like a "oops, we went all in on FTX" type implosion.
|
|
#
?
Mar 10, 2023 19:11
|
|
|
Raskolnikov2089 posted:NYT article seems to imply they were dumping the money into long term government bonds, so at least on the surface it doesn't appear like a "oops, we went all in on FTX" type implosion. Yeah they got whacked by rising interest rates, which makes the sale price of bonds go down if you don't hold the bond to maturity. Ordinarily this is fine unless your depositors all ask for their money back at once, so you have to sell your bonds at a big loss, and then whoops all your equity is wiped out and your bank is dead.
|
|
#
?
Mar 10, 2023 21:05
|
|
|
bergeoisie posted:Even if you didn't directly use SVB, if your company uses Rippling for HR payroll, you aren't getting paid today. Yep, my company (non-startup/non-VC funded) uses Rippling for payroll, we’ve been told they’re trying to get everyone paid by the end of the day but I’m not holding my breath.
|
|
#
?
Mar 10, 2023 21:19
|
|
|
Pipistrelle posted:Yep, my company (non-startup/non-VC funded) uses Rippling for payroll, we’ve been told they’re trying to get everyone paid by the end of the day but I’m not holding my breath. oof that sucks, sorry you're dealing with that.
|
|
#
?
Mar 10, 2023 21:26
|
|
|
Sounds like a bunch of people are getting rippled off
|
|
#
?
Mar 10, 2023 21:26
|
|
|
tater_salad posted:oof that sucks, sorry you're dealing with that. Thanks, I’ll be fine either way, but I did have a call earlier with a coworker where they started crying in the middle of it, so it’s been a fun day. Pipistrelle fucked around with this message at 21:43 on Mar 10, 2023 |
|
#
?
Mar 10, 2023 21:30
|
|
|
bob dobbs is dead posted:what a fuckin day for matt levine to take off (he tries to take every friday off i know) He didn't manage to pull it off.
|
|
#
?
Mar 10, 2023 21:48
|
|
|
yeah just saw it lol
|
|
#
?
Mar 10, 2023 21:51
|
|
|
https://www.youtube.com/watch?v=75kHq9cHSEg
|
|
#
?
Mar 10, 2023 21:59
|
|
|
If I was a distressed financial institution, I'd spend the last of my money paying Matt Levine to not plan to take the day off
|
|
#
?
Mar 10, 2023 22:42
|
|
|
.
|
|
#
?
Mar 10, 2023 23:03
|
|
|
Bad With Money: shorting Matt Levine's PTO rollover
|
|
|
#
?
Mar 11, 2023 02:18
|
|
|
Strong Sauce posted:https://twitter.com/WatcherGuru/status/1634039856924860416 I can't believe that Silva Valla Vack wasn't a big money play.
|
|
#
?
Mar 11, 2023 03:28
|
|
|
|
| # ? Jun 6, 2024 20:46 |
|
|
RapturesoftheDeep posted:I can't believe that Silva Valla Vack wasn't a big money play. Cramer used to do a damned radio show. Now he can barely enunciate an entire sentence.
|
|
#
?
Mar 11, 2023 04:10
|
|
