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> Also, SVB depositors weren’t just random individuals, they are some of the wealthiest people and organizations in the country or even the world Not anymore!
by nibbleshifter 4y ago
> Also, SVB depositors weren’t just random individuals, they are some of the wealthiest people and organizations in the country or even the world
Not anymore!
- capableweb 4y agoEven if you end up getting back "only" 250K USD, you end up being in the 1% of the world when it comes to wealth. That sort of cash is really not "normal" or "common" to have in a bank account, in the world at large. Looks differently in concentrated high-wealth areas like Silicon Valley of course, but still plenty of wealth compared to the rest of the world.
- mrkurt 4y agoThat's an incredibly normal amount for a business. That's one payroll cycle for ~50 people making $75k per year each.
- capableweb 4y agoSure, in the context of the US (and specifically Silicon Valley), but context was "SVB depositors weren’t just random individuals, they are some of the wealthiest people and organizations in the country or even the world"
- dv_dt 4y agoI think it's a mistake to equate simply having an amount of wealth in the 1% worldwide having any significant power or independence. It's basically something of a non-sequitur ignoring what that wealth gets you in context.