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https://twitter.com/AndrewYang/status/1634673148372156421
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Mar 11, 2023 23:49
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| # ? Jun 7, 2024 00:34 |
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Why is it always socialism by another name when the banks fail?
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Mar 11, 2023 23:54
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Isn't yang the VC dude who was running for president
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Mar 11, 2023 23:59
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Crab Dad posted:Why is it always socialism by another name when the banks fail? Because there’s extreme wealth inequality in the US and money is speech and influence. Wealth inequality is bad for democracy.
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Mar 12, 2023 00:02
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orange juche posted:Isn't yang the VC dude who was running for president lol yeah then trying to become mayor of New York.
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Mar 12, 2023 00:04
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https://twitter.com/EricNewcomer/status/1634300928621793283
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Mar 12, 2023 01:18
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Lmao Andrew Yang can die.
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Mar 12, 2023 01:36
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I personally don't see the big deal. $250k is plenty for anybody to cover rent for a few months while they apply for jobs and get back on their feet. These guys are supposably such big captains of innovation, they could just work their way up from the mailroom somewhere. Only country where they could, imo
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Mar 12, 2023 02:44
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The only people I have sympathy for is the folks who have money tied up in Etsy and PayPal, and some of the folks who won’t get a paycheck this week. VCs and startup bros can figure it out themselves.
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Mar 12, 2023 02:53
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Yeah, that's the shittiest part- it's gonna be the people at the bottom of the hierarchy who will pay the consequences. The rich will make sure they get paid first, and the poor guy who carries the bucket will get evicted.
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Mar 12, 2023 02:55
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US Berder Patrol posted:I personally don't see the big deal. $250k is plenty for anybody to cover rent for a few months while they apply for jobs and get back on their feet. These guys are supposably such big captains of innovation, they could just work their way up from the mailroom somewhere. Only country where they could, imo For about 30 seconds, I was thinking "hmm... why are only the $250K deposits insured, how the gently caress do businesses handle banking?" I immediately snapped out of it once I thought about what banks would actually do with that deposited money if they knew there would be an inevitable federal takeover and bailout of all the companies with those accounts. And that kind of poo poo couldn't be adequately preventative taxed. So here, have some broken braining: https://twitter.com/Mateba_6/status/1634694563859251200 And the tweet with embedded video: https://twitter.com/jordanbpeterson/status/1634679410245681153 looking into it
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Mar 12, 2023 03:04
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facialimpediment posted:For about 30 seconds, I was thinking "hmm... why are only the $250K deposits insured, how the gently caress do businesses handle banking?" I immediately snapped out of it once I thought about what banks would actually do with that deposited money if they knew there would be an inevitable federal takeover and bailout of all the companies with those accounts. 
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Mar 12, 2023 03:11
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FrozenVent posted:The only people I have sympathy for is the folks who have money tied up in Etsy and PayPal, and some of the folks who won’t get a paycheck this week. I just read Rocket Lab have $38m tied up with them, and I'm less than ok with this. But then, I guess it was their call.
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Mar 12, 2023 04:03
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Look, Jorp is just worried that the robots are coming for his job.
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Mar 12, 2023 04:04
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Someone's never seen A Boy and His Dog before.
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Mar 12, 2023 04:13
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Wrong Theory posted:Someone's never seen A Boy and His Dog before. That film is wonderfully insane
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Mar 12, 2023 04:35
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Comrade Blyatlov posted:That film is wonderfully insane I watched it back to back with Zachariah and man...
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Mar 12, 2023 04:36
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Wrong Theory posted:Someone's never seen A Boy and His Dog before. The last line loving sucks. Read the story instead.
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Mar 12, 2023 04:44
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bulletsponge13 posted:Yeah, that's the shittiest part- it's gonna be the people at the bottom of the hierarchy who will pay the consequences. The rich will make sure they get paid first, and the poor guy who carries the bucket will get evicted. From what I understand they already did. The timeline I've been reading is the Richie Riches got notice things were fucky. Richie Riches yoink their cash. Everyone else notices things were fucky because it all started evaporating when the cash was yoinked, so they run on the bank to get their cash out. Some do with the leftovers, the rest get poo poo.
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Mar 12, 2023 05:18
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US Berder Patrol posted:I personally don't see the big deal. $250k is plenty for anybody to cover rent for a few months while they apply for jobs and get back on their feet. These guys are supposably such big captains of innovation, they could just work their way up from the mailroom somewhere. Only country where they could, imo The big deal is that if you're a company who was using SVB as your bank, even if you're a little company with 30-40 people, you are now in jeopardy of not being able to cover payroll.
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Mar 12, 2023 08:18
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US Berder Patrol posted:I personally don't see the big deal. $250k is plenty for anybody to cover rent for a few months while they apply for jobs and get back on their feet. These guys are supposably such big captains of innovation, they could just work their way up from the mailroom somewhere. Only country where they could, imo The equivalent European regulation requires 100k€ per account coverage so it's even funnier when banks go bust here.
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Mar 12, 2023 11:37
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I'm starting to hate these VC idiots more than I hate the idiotic bankers, sheesh https://twitter.com/EladNehorai/status/1634809159710556160 But SVB might actually get a buyer and this all ends up relatively moot in a week, even if the techbros are shrieking for more bank runs on regional banks just to save their own bank. https://twitter.com/business/status/1634949647671099400
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Mar 12, 2023 17:30
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“There are no libertarians in a bank run” is definitely the phrase to take away from this
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Mar 12, 2023 17:48
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So yeah, SVB was a major bank in the wine industry and could wreck CA wineries if not bought.
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Mar 12, 2023 18:10
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Time for Oregon and Washington wineries to make their move.
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Mar 12, 2023 18:18
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I'm going to be furious if this interrupts my supply of cheap mom juice from California.
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Mar 12, 2023 18:47
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lightpole posted:So yeah, SVB was a major bank in the wine industry and could wreck CA wineries if not bought. https://twitter.com/popespeed/status/1634947915994247168?t=dG7NEk0aMfbLbYJQvXM4Ng&s=19
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Mar 12, 2023 18:55
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Nick Soapdish posted:https://twitter.com/popespeed/status/1634947915994247168?t=dG7NEk0aMfbLbYJQvXM4Ng&s=19 Oh no! Some children might have to go to public school, the government has to step up to prevent this.
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Mar 12, 2023 19:02
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Tiny Timbs posted:“There are no libertarians in a bank run” is definitely the phrase to take away from this I want to give whoever came up with it a beer, because god drat, it's a good one.
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Mar 12, 2023 19:31
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Nick Soapdish posted:https://twitter.com/popespeed/status/1634947915994247168?t=dG7NEk0aMfbLbYJQvXM4Ng&s=19 good. gently caress charter schools.
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Mar 12, 2023 19:55
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somebody please tell me if the caviar industry is ok
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Mar 12, 2023 19:59
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https://twitter.com/therecount/status/1634907531268210690?s=46&t=SkW94bDM2QmmLP6FBxgJMw
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Mar 12, 2023 20:08
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That Works posted:https://twitter.com/therecount/status/1634907531268210690?s=46&t=SkW94bDM2QmmLP6FBxgJMw Actually SS is totally fine and definitely not under attack by devils who will probably get their way
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Mar 12, 2023 20:12
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isn't life expectancy going down, particularly in the us? i'd laugh at it but Tiny Timbs posted:Actually SS is totally fine and definitely not under attack by devils who will probably get their way 
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Mar 12, 2023 20:19
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dear wine industry and religious schools, i mean charter schools: maybe don't pick such an obvious loving loser for a bank. thanks.
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Mar 12, 2023 20:28
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That Works posted:https://twitter.com/therecount/status/1634907531268210690?s=46&t=SkW94bDM2QmmLP6FBxgJMw Oh go gently caress yourself Can we for once turn all these economic gains into something for us little people? No, ever faster and smaller smartphones, and bigger and cheaper tvs don't count. "Well see you live longer, thus it wouldn't be fair for you to spend a smaller proportion of your life nose to the grindstone as a wage slave than grandpappy did"
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Mar 12, 2023 20:48
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Joke's on them, my retirement plan is already "work until I drop dead".
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Mar 12, 2023 20:50
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Yeah, about that...
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Mar 12, 2023 20:53
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Nick Soapdish posted:https://twitter.com/popespeed/status/1634947915994247168?t=dG7NEk0aMfbLbYJQvXM4Ng&s=19 Bitch im laughing harder now
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Mar 12, 2023 20:55
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| # ? Jun 7, 2024 00:34 |
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Dang It Bhabhi! posted:dear wine industry and religious schools, i mean charter schools: maybe don't pick such an obvious loving loser for a bank. thanks. The articles are saying that on top of SVB forcing people to bank with them in exchange for below-market lending rates investors were stipulating the same for the businesses they put money into. Which in retrospect seems super suspicious but hey, it’s free income until it isn’t.
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Mar 12, 2023 20:59
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