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an entire valley of silicon????
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Mar 12, 2023 21:26
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lobster shirt posted:fdic only covers up to 250k. this is a lot for a person but not for a company. which companies are large and connected enough to cause contagion risk but also still hold all their cash in a retail bank? it just doesn't make sense. the whole story sounds like one or two connected people might lose in the deal and they're trying to manufacture opinion to get the government to bail them out
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Mar 12, 2023 21:33
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Dreylad posted:nah there's tons of weird finance regulation everyone's spent 20 years pretending doesn't exist or gets in the way of Innovation. like there are other deposit insurance schemes that cover past $250k apparently but this bank ignored them or actively lobbied against them nice love it when that happens
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Mar 12, 2023 21:34
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Y'all think boobs are great, but try changing "boobs" to "Hitlers". Yeah not so great now.
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Mar 12, 2023 21:34
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get a load of this startup who can't handle 250k
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Mar 12, 2023 21:34
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AnimeIsTrash posted:we know youre smythe 9/10 oracles at delphi agree
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Mar 12, 2023 21:35
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Vomik posted:which companies are large and connected enough to cause contagion risk but also still hold all their cash in a retail bank? it just doesn't make sense. the whole story sounds like one or two connected people might lose in the deal and they're trying to manufacture opinion to get the government to bail them out well it offered commercial banking services which is why so many businesses had deposits there. given the amount of money it held im not sure retail bank is a very accurate descriptor. at any rate all the creditors and investors are eating poo poo on this, as they should.
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Mar 12, 2023 22:01
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Vomik posted:which companies are large and connected enough to cause contagion risk but also still hold all their cash in a retail bank? it just doesn't make sense. the whole story sounds like one or two connected people might lose in the deal and they're trying to manufacture opinion to get the government to bail them out Roblox, apparently
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Mar 12, 2023 22:02
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On the one hand I'm a recently laid off programmer and this puts my ability to care for my family at risk, with a complete collapse of demand for my labor. On the other, gently caress em lol. Silicon valley sucks poo poo and should burn
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Mar 12, 2023 22:05
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Vomik posted:which companies are large and connected enough to cause contagion risk but also still hold all their cash in a retail bank? it just doesn't make sense. the whole story sounds like one or two connected people might lose in the deal and they're trying to manufacture opinion to get the government to bail them out NGP VAN, the software company that runs the democrat party fundraising and compliance software lmao
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Mar 12, 2023 22:19
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Vomik posted:which companies are large and connected enough to cause contagion risk but also still hold all their cash in a retail bank? it just doesn't make sense. the whole story sounds like one or two connected people might lose in the deal and they're trying to manufacture opinion to get the government to bail them out vox, and roku
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Mar 12, 2023 22:34
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found a bunch of 1/500 twitter threads about how this isn't just a "tech elite" problem and the real heartland americans who were impacted, click on their twitter bio and they are all building machine learning todo list apps
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Mar 12, 2023 22:35
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speng31b posted:found a bunch of 1/500 twitter threads about how this isn't just a "tech elite" problem and the real heartland americans who were impacted, click on their twitter bio and they are all building machine learning todo list apps is that the lady who's husband is a manufacturing exec?
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Mar 12, 2023 22:38
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AnimeIsTrash posted:is that the lady who's husband is a manufacturing exec? yes
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Mar 12, 2023 22:39
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Lib and let die posted:NGP VAN, the software company that runs the democrat party fundraising and compliance software lmao oh man been a long time since i read those letters
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Mar 12, 2023 22:41
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https://twitter.com/tlrdrkmrgn/status/1634768027697704960?s=20
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Mar 12, 2023 22:42
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just curious what happens if i post a really love tweet and how embeds handle it one sec https://twitter.com/torrenegra/status/1634573234187407369
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Mar 12, 2023 22:55
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aw boo I was hoping it'd post a gazillion lines of text
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Mar 12, 2023 22:55
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bank being sad that the deregulations they lobbied for led to their collapse is just the latest episode of powerful people getting exactly what they wanted and being miserable because of it
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Mar 12, 2023 22:56
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Vomik posted:which companies are large and connected enough to cause contagion risk but also still hold all their cash in a retail bank? it just doesn't make sense. the whole story sounds like one or two connected people might lose in the deal and they're trying to manufacture opinion to get the government to bail them out 99% of the discourse is oligarchs putting their thumb on the scale of discourse like you said, but there's a lot of smaller startups that may get hosed over. seems like a lot of vc people insisted that startups keep their money in that bank as a condition for their funding. also just a lot of people who know a lot about mobile apps and sales pitch decks but nothing about banking risk/liability
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Mar 12, 2023 23:05
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The federal government should bail out the banks to protect the job creators.
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Mar 12, 2023 23:12
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Crazypoops posted:Y'all think boobs are great, but try changing "boobs" to "Hitlers". 
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Mar 12, 2023 23:14
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tech bros aren't real
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Mar 12, 2023 23:17
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Farmers: Honest hard workers creating a product that nourishes my body and soul SV Tech Bros: Lazy keyboard jockeys whose products are slowly giving me schizophrenia
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Mar 12, 2023 23:17
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dog poo poo computer trash. just go watch ilsa she-wolf of the ss if you want ths type of content. idiot
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Mar 12, 2023 23:18
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quote:1:30 PM: SVB is a solid bank. I know their CEO, Greg Becker. Great guy. I figure this is a temporary issue caused mainly by people panicking. They'll recover. I buy shares of SVB at what I consider significantly low prices.
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Mar 12, 2023 23:18
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usually they are just normal lil nerds. or board game people wish they were bros
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Mar 12, 2023 23:18
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also im starting to think ait might be a tech bro computer toucher guy or... or maybe a project owner
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Mar 12, 2023 23:19
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Just a Moron posted:Farmers: Honest hard workers creating a product that nourishes my body and soul hello james harrington
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Mar 12, 2023 23:22
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In Training posted:The federal government should bail out the banks to protect the job creators. been sayin this
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Mar 12, 2023 23:22
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bvj191jgl7bBsqF5m posted:just curious what happens if i post a really love tweet and how embeds handle it one sec sounds like he doesnt have to pay his mortgage anymore. Pretty sweet.
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Mar 12, 2023 23:23
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speng31b posted:yes lol her company deleted the pricing page on their website
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Mar 12, 2023 23:25
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Smythe posted:hello james harrington I'm not sophisticated enough to get this joke but I take it the guy liked farmers
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Mar 12, 2023 23:31
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Cuttlefush posted:also im starting to think ait might be a tech bro computer toucher guy He's a projection owner. Al! posted:an entire valley of silicon???? Yeah, your sand arse crack!
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Mar 12, 2023 23:36
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You coulda said Projectionist if you wanted to make that joke mate.
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Mar 12, 2023 23:37
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Even though it sucks that there might be a subset of people who don't have a lot of money saved due to having incomes many times that of the average worker, it seems like the vast majority of companies that could go under from this are going to be "start-ups" that never should have existed in the first place (since most actual serious companies aren't going to be putting all their money in some retail bank like this). It's basically like the people worrying about health insurance employees losing their jobs if our healthcare system were turned into a national or single-payer one. The answer isn't "we need to make sure all these start-ups can continue to exist in perpetuity to preserve the jobs of their employees" (especially when most of those employees are making way more money than the vast majority of Americans and/or chose their jobs because they wanted to ownership in the start-up). This is especially the case for tech stuff - there's a lot of work for that, even if it might be hard to find stuff paying the sort of inflated salaries many currently pay. If anything I'd have more sympathy for some random office worker at a health insurance company under the nationalization/single-payer scenario, since there probably isn't as much demand for those skills.
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Mar 12, 2023 23:45
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Just a Moron posted:I'm not sophisticated enough to get this joke but I take it the guy liked farmers the little freak loved farmers and wanted the world to be ruled by an agrarian aristocracy. he also wrote a lot of other crazy and stupid rear end poo poo. thats the extent of my harrington knowledge at this time
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Mar 12, 2023 23:50
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Ytlaya posted:ompanies that could go under i'm afraid i've got some bad news
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Mar 12, 2023 23:50
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bvj191jgl7bBsqF5m posted:i'm afraid i've got some bad news Yeah that's why I put "could" (since there's no way it's actually going to end up happening).
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Mar 12, 2023 23:54
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oh so you say you don't want us to spend money on bombs? You're so anti-worker, those Raytheon employees are counting on us murdering people overseas to feed their families, you monster
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Mar 12, 2023 23:57
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