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SVB CEO to VCs: please don’t tell anyone to withdraw their money or we could be in trouble VCs: [immediately texting after hearing the above from the CEO] atte
by nico 4y ago
SVB CEO to VCs: please don’t tell anyone to withdraw their money or we could be in trouble
VCs: [immediately texting after hearing the above from the CEO] attention all portfolio companies, SVB seems to be in trouble, don’t keep your money with them
- raincom 4y agoAlso VCs should start shorting the stock
- zht 4y agoIt would be surprising if VCs exhibited any original thought, after watching them fomoing into one thing after another
- vgatherps 4y agoYou very much want to be first out if there’s a bank run, the behavior here is very rational. It’s also what makes having any sign of balance sheet weakness a death spiral, as anyone who knows runs for the exits, making things even worse.
- strbean 4y agoSomeone at Founders Fund had an original thought (start a bank run at SVB). Everyone else FOMOd after them. Waiting to see how this shakes out for Peter Thiel.