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> So the VC thinkbois basically created a run on SVB. Nice job guys! On purpose. Billions of their wealth depended on FED's easy monetary policy (ZIRP, NIRP, Q
by chewz 4y ago
> So the VC thinkbois basically created a run on SVB. Nice job guys!
On purpose. Billions of their wealth depended on FED's easy monetary policy (ZIRP, NIRP, QE infinite) for last 30 years or so.
For likes of Gary Tan, Peter Thiel and Cathie Wood (and Ray Dalio) creating moral panic and trying to force FED's hand to reverse normalising monetary policy is the only possible way to keep status quo and their wealth.
Is The Fed Listening? | ITK with Cathie Wood - https://www.youtube.com/watch?v=jvL2Q0cJLyo https://www.youtube.com/watch?v=jvL2Q0cJLyo
30% of YC companies exposed through SVB can’t make payroll in the next 30 days - https://news.ycombinator.com/item?id=35100743 https://news.ycombinator.com/item?id=35100743
Peter Thiel’s Founders Fund Advises Companies to Withdraw Money From SVB - https://www.bloomberg.com/news/articles/2023-03-09/founders-fund-advises-companies-to-withdraw-money-from-svb#xj4y7vzkg https://www.bloomberg.com/news/articles/2023-03-09/founders-...
- sidibe 4y agoIt definitely seems to be done on purpose, but they didn't tell all their friends (David Sacks for example). For Thiel this was a win-win thing, his companies are all fine while hurting the competition and he gets to whine about government from new angles. Also quite in keeping with his soulless character