4 ms·

Now we just need an "incredible journey" blog post from SVB spinning this acquisition as a great win for both customers and investors.

colpabar 4y ago
Bonus points if they mention effective altruism, and how great it is, but how also it can be bad sometimes.
- hef19898 4y ago
  A pitty FTX went under before, just imagine SBF announcing he is bailing out SVB!
  - jollyllama 4y ago
    If you bail him out of jail, he'll bail out your bank, and then he'll bail out of the country.
huslage 4y ago
That's not really possible. SVB as an entity no longer exists once the FDIC steps in.
- NordSteve 4y ago
  Not entirely correct. There is still a "bad bank" which is the SVB entity (and will be wound up in bankruptcy), and the "new bank" which has all of the insured deposits.
khazhoux 4y ago
Or a cute 404 page when you login to your account: "Oops, looks like Santa misplaced his bag with all your money! Don't worry, his elves are busy looking for it all over the North Pole."
- adrianmonk 4y ago
  Kinda seems like it should be a 503 Money Unavailable.
  - oefrha 4y ago
    410 Gone is more accurate.
    - dpkirchner 4y ago
      402 Payment Required
    - rtp4me 4y ago
      420 - up in smoke
    - deleted 4y ago
      [deleted]
  - deleted 4y ago
    [deleted]
  - capableweb 4y ago
    Or 301 Moved Permanently. Or 406 Not Acceptable. Or 410 Gone. Or 417 Expectation Failed. Or 429 Too Many Requests. So many fitting status codes to chose between I don't know what to do!
    - hef19898 4y ago
      Using all of them, and switch between them? Maybe doing some AB testing to figure out which ones work best with users?
    - mayormcmatt 4y ago
      Damn, this guy HTTPs.
      - 4y ago
deleted 4y ago
[deleted]
lukewrites 4y ago
"This was a learning experience that will provide velocity in our continued disruption of the finance space for startups. We look forward to continuing to maintain a growth mindset as we ~cash your checks~ earn your trust."
Exuma 4y ago
Here's why a bank collapse is a good thing.
ignost1cky 4y ago
[dead]
tibbon 4y ago
They’ll have chatGPT write it
Imnimo 4y ago
Don't forget the cutesy nickname for its employees and users. "Dear Sveebles and Sveeblettes..."
jdoliner 4y ago
ChatGPT is happy to oblige: Silicon Valley Bank, founded in 1983, has had a long and incredible journey leading up to its acquisition by the FDIC in 2023. As a bank that specializes in working with the technology and innovation industries, it has been at the forefront of many of the industry's most significant developments. The bank started its journey as a small community bank in Santa Clara, California. At that time, it was known as the Santa Clara Valley Bank. The founders, Bill Biggerstaff, Ken Wilcox, and Bob Medearis, saw an opportunity to create a financial institution that focused on serving the unique needs of the technology and innovation industries. In the early years, the bank faced many challenges as it worked to establish itself as a leader in the industry. One of the biggest obstacles was convincing investors and regulators that the bank's specialized approach to banking was viable. The founders knew that they needed to build a strong foundation and establish a reputation for being a reliable and trustworthy financial institution. Over the years, the bank grew and expanded its reach, opening offices across the United States and in key global markets. It also broadened its focus beyond just technology and innovation to include life sciences, healthcare, energy, and more. This diversification helped to insulate the bank from the ups and downs of any one industry and made it more resilient in the face of economic uncertainty. Throughout its journey, Silicon Valley Bank has remained committed to its core values of innovation, excellence, and customer focus. It has always been willing to take calculated risks and to push the boundaries of what is possible. This approach has paid off in many ways, as the bank has been recognized as one of the most innovative and respected financial institutions in the world. In 2023, Silicon Valley Bank achieved a major milestone when it was acquired by the FDIC. This acquisition was a testament to the bank's success and the strength of its business model. It also signaled a new era of growth and opportunity for the bank, as it now has the backing of one of the most respected regulatory bodies in the world. Looking ahead, Silicon Valley Bank is poised to continue its incredible journey and to make an even greater impact on the world. As the technology and innovation industries continue to evolve and grow, the bank is well-positioned to help fuel that growth and to support the entrepreneurs and visionaries who are driving it forward. With its deep expertise, strong relationships, and unwavering commitment to excellence, Silicon Valley Bank is poised to remain a leader in the financial services industry for many years to come.
- boeingUH60 4y ago

colpabar 4y ago

Bonus points if they mention effective altruism, and how great it is, but how also it can be bad sometimes.

hef19898 4y ago
A pitty FTX went under before, just imagine SBF announcing he is bailing out SVB!
- jollyllama 4y ago
  If you bail him out of jail, he'll bail out your bank, and then he'll bail out of the country.

huslage 4y ago

That's not really possible. SVB as an entity no longer exists once the FDIC steps in.

NordSteve 4y ago
Not entirely correct. There is still a "bad bank" which is the SVB entity (and will be wound up in bankruptcy), and the "new bank" which has all of the insured deposits.

khazhoux 4y ago

Or a cute 404 page when you login to your account: "Oops, looks like Santa misplaced his bag with all your money! Don't worry, his elves are busy looking for it all over the North Pole."

adrianmonk 4y ago
Kinda seems like it should be a 503 Money Unavailable.
- oefrha 4y ago
  410 Gone is more accurate.
  - dpkirchner 4y ago
    402 Payment Required
  - rtp4me 4y ago
    420 - up in smoke
  - deleted 4y ago
    [deleted]
- deleted 4y ago
  [deleted]
- capableweb 4y ago
  Or 301 Moved Permanently. Or 406 Not Acceptable. Or 410 Gone. Or 417 Expectation Failed. Or 429 Too Many Requests. So many fitting status codes to chose between I don't know what to do!
  - hef19898 4y ago
    Using all of them, and switch between them? Maybe doing some AB testing to figure out which ones work best with users?
  - mayormcmatt 4y ago
    Damn, this guy HTTPs.
    - 4y ago

deleted 4y ago

[deleted]

lukewrites 4y ago

"This was a learning experience that will provide velocity in our continued disruption of the finance space for startups. We look forward to continuing to maintain a growth mindset as we ~cash your checks~ earn your trust."

Exuma 4y ago

Here's why a bank collapse is a good thing.

ignost1cky 4y ago

[dead]

tibbon 4y ago

They’ll have chatGPT write it

Imnimo 4y ago

Don't forget the cutesy nickname for its employees and users. "Dear Sveebles and Sveeblettes..."

jdoliner 4y ago

ChatGPT is happy to oblige: Silicon Valley Bank, founded in 1983, has had a long and incredible journey leading up to its acquisition by the FDIC in 2023. As a bank that specializes in working with the technology and innovation industries, it has been at the forefront of many of the industry's most significant developments. The bank started its journey as a small community bank in Santa Clara, California. At that time, it was known as the Santa Clara Valley Bank. The founders, Bill Biggerstaff, Ken Wilcox, and Bob Medearis, saw an opportunity to create a financial institution that focused on serving the unique needs of the technology and innovation industries. In the early years, the bank faced many challenges as it worked to establish itself as a leader in the industry. One of the biggest obstacles was convincing investors and regulators that the bank's specialized approach to banking was viable. The founders knew that they needed to build a strong foundation and establish a reputation for being a reliable and trustworthy financial institution. Over the years, the bank grew and expanded its reach, opening offices across the United States and in key global markets. It also broadened its focus beyond just technology and innovation to include life sciences, healthcare, energy, and more. This diversification helped to insulate the bank from the ups and downs of any one industry and made it more resilient in the face of economic uncertainty. Throughout its journey, Silicon Valley Bank has remained committed to its core values of innovation, excellence, and customer focus. It has always been willing to take calculated risks and to push the boundaries of what is possible. This approach has paid off in many ways, as the bank has been recognized as one of the most innovative and respected financial institutions in the world. In 2023, Silicon Valley Bank achieved a major milestone when it was acquired by the FDIC. This acquisition was a testament to the bank's success and the strength of its business model. It also signaled a new era of growth and opportunity for the bank, as it now has the backing of one of the most respected regulatory bodies in the world. Looking ahead, Silicon Valley Bank is poised to continue its incredible journey and to make an even greater impact on the world. As the technology and innovation industries continue to evolve and grow, the bank is well-positioned to help fuel that growth and to support the entrepreneurs and visionaries who are driving it forward. With its deep expertise, strong relationships, and unwavering commitment to excellence, Silicon Valley Bank is poised to remain a leader in the financial services industry for many years to come.

boeingUH60 4y ago