5 ms·

Elon Musk is ‘open to the idea’ of buying Silicon Valley Bank

11 points by clumsysmurf 4y ago

mska 4y ago
How would this even work? Just by paying the market cap of SVB which is currently 6.2B?
rvz 4y ago
Well someone's dream could come true with an opportunity landing for their ambition [0] and an interested buyer. Problem is folks, his name is Elon R. Musk. [0] https://www.forbes.com/sites/dereksaul/2023/03/07/musks-new-twitter-dream-become-biggest-financial-institution-in-the-world/?sh=54d04d0666a4 https://www.forbes.com/sites/dereksaul/2023/03/07/musks-new-...
bell-cot 4y ago
Yeah... And who, exactly, would keep large sums of money deposited in a bank run by "rabid bull in the Twitter China Shop" Elan? He figures that he doesn't owe his landlord the agreed-and-signed office rent. Why would he let his depositors withdraw their money, ever?
labrador 4y ago
I blocked Elon Musk on Twitter today because his Tweet appeared uninvited (for no reason I could discern) on my feed saying the QAnon shaman is innocent - this after this person has already pled guilty, apologized and is serving a prison term, which is more evidence I have not to take anything Musk says seriously.
- globalreset 4y ago
  [flagged]
  - tsuujin 4y ago
    We’re talking about the guy we have clear video evidence doing the thing he was accused of, admitted to, and convicted of, right?
  - mtmail 4y ago
    45min interview with him in prison https://www.youtube.com/watch?v=Xwdkng6ZGp8 https://www.youtube.com/watch?v=Xwdkng6ZGp8 I have no doubt he's guilty. And crazy, like more crazy and dilusioned than I expected (that's not why he's in prison though).
    - globalreset 4y ago
      Obviously he is guilty of some stuff. You're probably guilty of some stuff too, and so am I. But being guilt is not a binary outcome is it? For justice to be served one needs to take into account all the circumstances and evidence. There's a difference between harming and endangering other people, and damaging property, being coerced, being set up for crime and many other things (IANAL). Saying "nah, he's guilty, I know it, no new evidence can make a difference here..." is ridiculous. It just show for who the goal is not justice, but politically motivated vengeance.
- almog 4y ago
  This might explain why it appeared in your feed: https://www.theguardian.com/technology/2023/feb/15/elon-musk-changes-twitter-algorithm-super-bowl-slump-report https://www.theguardian.com/technology/2023/feb/15/elon-musk...
  - labrador 4y ago
    I remember that. That's what I thought too, but I thought he had turned it off after people complained. Apparently not. It's very "Dear Leader" to force your message on people. I just got through watching "Secret State of North Korea (full documentary) | FRONTLINE" and in video sneaked out, Kim has his speeches blasting on a loop over city streets for months at a time https://www.youtube.com/watch?v=N-cX1d4BSCI https://www.youtube.com/watch?v=N-cX1d4BSCI
dragonwriter 4y ago
I don’t think that’s realistically on the table: as I understand it, if FDIC can’t facilitate a takeover by an existing, operating, licensed bank (which Musk is not, and it takes some time to set one up) – their preferred option in bank failures, which they’ve usually managed to do even with the biggest – they are going to sell the assets to cover the costs of the insured depositors and if there is a surplus, provide what compensation that allows to the uninsured depositors. They aren’t going to sell the bank as a bank to a billionaire who happens to have an urge to own a financial services business since he got driven out of the last one he was CEO of. If Musk as a not-bank wanted to buy SVB as a going concern, he should have done so when it was, in fact, a going concern
- nikau 4y ago
  step 1: present token gesture offer of help step 2: people call out stupidity of the plan step 3: call someone a pedo
BulgarianIdiot 4y ago
He's trolling. There is nothing to buy. Why are we covering this?

11 points by clumsysmurf 4y ago

mska 4y ago

How would this even work? Just by paying the market cap of SVB which is currently 6.2B?

rvz 4y ago

Well someone's dream could come true with an opportunity landing for their ambition [0] and an interested buyer. Problem is folks, his name is Elon R. Musk. [0] https://www.forbes.com/sites/dereksaul/2023/03/07/musks-new-twitter-dream-become-biggest-financial-institution-in-the-world/?sh=54d04d0666a4 https://www.forbes.com/sites/dereksaul/2023/03/07/musks-new-...

bell-cot 4y ago

Yeah... And who, exactly, would keep large sums of money deposited in a bank run by "rabid bull in the Twitter China Shop" Elan? He figures that he doesn't owe his landlord the agreed-and-signed office rent. Why would he let his depositors withdraw their money, ever?

labrador 4y ago

I blocked Elon Musk on Twitter today because his Tweet appeared uninvited (for no reason I could discern) on my feed saying the QAnon shaman is innocent - this after this person has already pled guilty, apologized and is serving a prison term, which is more evidence I have not to take anything Musk says seriously.

globalreset 4y ago
[flagged]
- tsuujin 4y ago
  We’re talking about the guy we have clear video evidence doing the thing he was accused of, admitted to, and convicted of, right?
- mtmail 4y ago
  45min interview with him in prison https://www.youtube.com/watch?v=Xwdkng6ZGp8 https://www.youtube.com/watch?v=Xwdkng6ZGp8 I have no doubt he's guilty. And crazy, like more crazy and dilusioned than I expected (that's not why he's in prison though).
  - globalreset 4y ago
    Obviously he is guilty of some stuff. You're probably guilty of some stuff too, and so am I. But being guilt is not a binary outcome is it? For justice to be served one needs to take into account all the circumstances and evidence. There's a difference between harming and endangering other people, and damaging property, being coerced, being set up for crime and many other things (IANAL). Saying "nah, he's guilty, I know it, no new evidence can make a difference here..." is ridiculous. It just show for who the goal is not justice, but politically motivated vengeance.
almog 4y ago
This might explain why it appeared in your feed: https://www.theguardian.com/technology/2023/feb/15/elon-musk-changes-twitter-algorithm-super-bowl-slump-report https://www.theguardian.com/technology/2023/feb/15/elon-musk...
- labrador 4y ago
  I remember that. That's what I thought too, but I thought he had turned it off after people complained. Apparently not. It's very "Dear Leader" to force your message on people. I just got through watching "Secret State of North Korea (full documentary) | FRONTLINE" and in video sneaked out, Kim has his speeches blasting on a loop over city streets for months at a time https://www.youtube.com/watch?v=N-cX1d4BSCI https://www.youtube.com/watch?v=N-cX1d4BSCI

dragonwriter 4y ago

I don’t think that’s realistically on the table: as I understand it, if FDIC can’t facilitate a takeover by an existing, operating, licensed bank (which Musk is not, and it takes some time to set one up) – their preferred option in bank failures, which they’ve usually managed to do even with the biggest – they are going to sell the assets to cover the costs of the insured depositors and if there is a surplus, provide what compensation that allows to the uninsured depositors. They aren’t going to sell the bank as a bank to a billionaire who happens to have an urge to own a financial services business since he got driven out of the last one he was CEO of. If Musk as a not-bank wanted to buy SVB as a going concern, he should have done so when it was, in fact, a going concern

nikau 4y ago
step 1: present token gesture offer of help step 2: people call out stupidity of the plan step 3: call someone a pedo

BulgarianIdiot 4y ago

He's trolling. There is nothing to buy. Why are we covering this?