Silicon Valley Bank Collapses

[GunsOfFrankEaton]

SVB plays a central role in the start-up economy of San Francisco. According to Bloomberg, it does business with about half of venture capital backed start up firms in the U.S.

First domino?

Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours

As dust begins to settle on the biggest American bank failure since 2008, members of the VC community lament the role other investors played in SVB's demise.

www.cnbc.com

 

[davidallen]

SVB plays a central role in the start-up economy of San Francisco. According to Bloomberg, it does business with about half of venture capital backed start up firms in the U.S.

First domino?

Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours

As dust begins to settle on the biggest American bank failure since 2008, members of the VC community lament the role other investors played in SVB's demise.

www.cnbc.com

San Francisco? More like North America. Is hope a strategy? Asking for a friend....

 

[LAY THE WOODY]

San Francisco? More like North America. Is hope a strategy? Asking for a friend....

Where's nanshee or Gavin? 🤣

 

[2012Bearcat]

San Francisco? More like North America. Is hope a strategy? Asking for a friend....

Rich and compelling contribution.

 

[davidallen]

Rich and compelling contribution.

Less rich today than Wednesday.

 

[LAY THE WOODY]

Less rich today than Wednesday.

Cali, the bail out state. 👍

 

[davidallen]

Rich and compelling contribution.

Tough day today. We had several companies impacted and spent significant efforts addressing issues that resulted. What a cluster ****.

 

[Ponca Dan]

Tough day today. We had several companies impacted and spent significant efforts addressing issues that resulted. What a cluster ****.

In spite of how often we have clashed I want you to know I’m sincerely sorry if you’ve suffered a loss.

 

[22LR]

In spite of how often we have clashed I want you to know I’m sincerely sorry if you’ve suffered a loss.

@davidallen I feel the same. Could happen to me soon.

 

[Syskatine]

Tough day today. We had several companies impacted and spent significant efforts addressing issues that resulted. What a cluster ****.

Shades of Penn Square.

Don't understand how this happened.

 

[LAY THE WOODY]

CNBC's Jim Cramer eviscerated for touting Silicon Valley Bank weeks before disastrous collapse

Jim Cramer touted the potential of SVB Financial back in February. His words did not age well, and he has been skewered on social media by major accounts.

www.foxnews.com

 

[LAY THE WOODY]

CEO of failed Silicon Valley Bank no longer a director at SF Fed

The chief executive officer of failed Silicon Valley Bank, Greg Becker, is no longer on the board of directors at the Federal Reserve Bank of San Francisco.

www.reuters.com

 

[Cowguy]

Shades of Penn Square.

Don't understand how this happened.

Funny. I was telling a buddy that I’d seen this movie. Up close and personal

 

[Sunburnt Indian]

I'm winding down my checking account at Well Fargo. I plan to keep Extraco checking and Wells Fargo Active Cash Rewards Card. It seems Wells Fargo pays record fines for doing stupid stuff. Wells Fargo is Gay Bay based.

 

[Rdcldad]

so no a ha moment?

where you realize what you voted for manifests directly in your financial life?

who knew long term treasury yield could kill a bank?

boog said inflation is captain america
not yesterday not last month

it will take your ccp/dnc destroying this great country to wake people up

conspiracy theorists are undefeated

 

[LAY THE WOODY]

so no a ha moment?

where you realize what you voted for manifests directly in your financial life?

who knew long term treasury yield could kill a bank?

boog said inflation is captain america
not yesterday not last month

it will take your ccp/dnc destroying this great country to wake people up

conspiracy theorists are undefeated

My man! 👍

 

[davidallen]

so no a ha moment?

where you realize what you voted for manifests directly in your financial life?

who knew long term treasury yield could kill a bank?

boog said inflation is captain america
not yesterday not last month

it will take your ccp/dnc destroying this great country to wake people up

conspiracy theorists are undefeated

You've put a nice bow on that simple little package.

Good news is we got all four through. Payroll will run. New lines of credit are opened. Cash will flow.

Bad news is there too but we will work through that.

 

[LAY THE WOODY]

Lay, Madoff, Stanford etc etc etc.......Dimon? Think about it.

 

[davidallen]

Shades of Penn Square.

Don't understand how this happened.

A mix of bad decisions, bad timing, and emotional decision making.

There will be some ugly stories in the coming weeks about who knew what when. I'm no expert but I would suspect some DOJ activity on a couple of fronts.

 

[davidallen]

In spite of how often we have clashed I want you to know I’m sincerely sorry if you’ve suffered a loss.

Thanks.

We had no direct relationships with SVB. Though some companies we have invested in did.

We have one founder who wept at what the impact might be for their firm. We helped plug the immediate holes.

For another the immediate impact to their personal net worth is low 8 figures as an imminent liquidity event will be postponed. Our firm and investors will have to wait for the dust to settle as well.

 

[Rdcldad]

You've put a nice bow on that simple little package.

Good news is we got all four through. Payroll will run. New lines of credit are opened. Cash will flow.

Bad news is there too but we will work through that.

it is very simple

no need for the spin ccp/dnc spin cycle

 

[2012Bearcat]

No big deal, the Biden administration says everything is fine.

Biden officials say 'resilient' banking system can withstand Silicon Valley Bank collapse

Treasury Secretary Yellen met with regulators to discuss the biggest bank failure since 2008, and the chair of the White House Council of Economic Advisers briefed reporters.

www.nbcnews.com

 

[LAY THE WOODY]

No big deal, the Biden administration says everything is fine.

Biden officials say 'resilient' banking system can withstand Silicon Valley Bank collapse

Treasury Secretary Yellen met with regulators to discuss the biggest bank failure since 2008, and the chair of the White House Council of Economic Advisers briefed reporters.

www.nbcnews.com

I laugh at his every incoherent cobweb whisper. Nothing but dust from shits.

 

[davidallen]

it is very simple

no need for the spin ccp/dnc spin cycle

Uh huh.

 

[Rdcldad]

We have one founder who wept at what the impact might be for their firm. We helped plug the immediate holes.

they wept over money?

have them send me an email so i can help with their perspective

seriously

 

[davidallen]

they wept over money?

have them send me an email so i can help with their perspective

seriously

They wept over not being able to pay their 25 employees and putting their families at risk. I think they have a fine perspective. Have you ever struggled to make payroll boog?

 

[Rdcldad]

They wept over not being able to pay their 25 employees and putting their families at risk. I think they have a fine perspective. Have you ever struggled to make payroll boog?

tough financial situation

their families are not at risk
stop there

 

[2012Bearcat]

They wept over not being able to pay their 25 employees and putting their families at risk. I think they have a fine perspective. Have you ever struggled to make payroll boog?

Yea I remember not taking a penny out of the business for almost 2 years under the Obama administration to meet the payroll of my employees. The infuriating part of if is the whole time the Obama Administration and Democrats kept calling me greedy and telling me I didn't build anything.

 

[long-duc-dong]

We have one founder who wept at what the impact might be for their firm.

Wept? You’ve gotta be kidding! Are you making this shit up?

 

[ClintonDavidScott]

Wept? You’ve gotta be kidding! Are you making this shit up?

You’re an idiot.



carry on

 

[long-duc-dong]

You’re an idiot.



carry on

😂


Carry on dumbass

 

[davidallen]

tough financial situation

their families are not at risk
stop there

Rent and groceries are over rated.

It's all good now, but for a first time founder there was a moment of panic.

 

[davidallen]

Yea I remember not taking a penny out of the business for almost 2 years under the Obama administration to meet the payroll of my employees.

This is the way.

The infuriating part of if is the whole time the Obama Administration and Democrats kept calling me greedy and telling me I didn't build anything.

I wouldn't expect yore jimmies to be so easily rustled.

 

[long-duc-dong]

Rent and groceries are over rated.

It's all good now, but for a first time founder there was a moment of panic.

So you made up the weeping part? I knew it.

 

[davidallen]

Wept? You’ve gotta be kidding! Are you making this shit up?

Can you imagine the frustration of busting ass for 6 months to get a funding round closed that secures an additional year of runway and then waking up a week later to find out that you can't run payroll because your bank locked the doors.

 

[davidallen]

So you made up the weeping part? I knew it.

No.

 

[long-duc-dong]

Can you imagine the frustration of busting ass for 6 months to get a funding round closed that secures an additional year of runway and then waking up a week later to find out that you can't run payroll because your bank locked the doors.

No but I can imagine the frustration my dad had after busting his ass for over 15 years only to wake up one morning and find his, along with many others, funding gone. He didn’t weep about it. Put his boots on and busted his ass to get it back. Penn Square kicked him and many others right in the nuts. There’s no crying baseball or elections David.

 

[long-duc-dong]

No.

That individual is weak.

 

[LAY THE WOODY]

No but I can imagine the frustration my dad had after busting his ass for over 15 years only to wake up one morning and find his, along with many others, funding gone. He didn’t weep about it. Put his boots on and busted his ass to get it back. Penn Square kicked him and many others right in the nuts. There’s no crying baseball or elections David.

Someone should be held accountable though brother. Folks were robbed.

 

[long-duc-dong]

Someone should be held accountable though brother. Folks were robbed.

That’s a different topic.