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Some of the tweets of founders affected by this are horrifying. https://twitter.com/lcmichaelides/status/1634654751479541760 https://twitter.com/lcmichaelides/

Some of the tweets of founders affected by this are horrifying. https://twitter.com/lcmichaelides/status/1634654751479541760 https://twitter.com/lcmichaelides/status/1634654751479541760 https://twitter.com/torrenegra/status/1634573234187407369 https://twitter.com/torrenegra/status/1634573234187407369

jnmandal 4y ago
Ok I'm sorry but both of these tweets are funny, if only because the tech community's hubris and cluelessness is on full display. First person is trying to contrast herself with the "1%" but if you read what her startup does it's literally a concept that caters almost exclusively to people with large disposable incomes. (A service for busy people to give them personal assistant style reminders about things they might forget to do such as buy backpacks and lunchboxes for your children from the pottery barn) Second person literally joined in the bank run, had all of his money wired out of SVB and then, immediately after doing that, buys shares in SVB because he "knows the CEO" and feels it's a good bank. Honestly we did this to ourselves folks. Idiocy on full display. People are laughing at us and we probably deserve it.
- asciii 4y ago
  I’m laughing because between all his group chats, he didn’t call his good friend the CEO to see what is up? > 1:30 PM: SVB is a solid bank. I know their CEO, Greg Becker. Great guy. I figure this is a temporary issue caused mainly by people panicking. They'll recover.
- johnchristopher 4y ago
  > First person is trying to contrast herself with the "1%" but if you read what her startup does it's literally a concept that caters almost exclusively to people with large disposable incomes. (A service for busy people to give them personal assistant style reminders about things they might forget to do such as buy backpacks and lunchboxes for your children from the pottery barn) Isn't that like saying waiters working at 5 stars restaurants frequented by 1% are themselves 1% ? Or the guy setting up the wifi and internet for the restaurant is also a 1% ?
  - jnmandal 4y ago
    Do you really need someone to explain to you how being a funded startup founder is different than being an hourly worker on tipped wage at upscale restaurant? Is that a serious, genuine question or are you just trying to deflect criticism with a bad-faith take? I literally cannot tell anymore because this is the same lack of self-awareness present in her tweet. It's part of why people have come to hate our community and it's culture.
    - johnchristopher 4y ago
      > Do you really need someone to explain to you how being a funded startup founder is different than being an hourly worker on tipped wage at upscale restaurant? All I am saying is that person is not a 1% and not even close. She has every rights to contrast herself from them. > Is that a serious, genuine question or are you just trying to deflect criticism with a bad-faith take? I worded it as a question to soften it and leave the door opened to criticism. But if your stance is that those people are entitled or fake poor or hypocrites and deserved to be laughed at, frankly.. oh well, whatever.
fakedang 4y ago
First commenter says "I grew the business while navigating a high-risk pregnancy. I’d stop to see my ob en-route to the airport to get cleared to travel." 99%er Americans do not even get the chance to visit a doctor even when they have the time, even if they have a paying (low-income) job. Not to mention, she has a Fuqua MBA and worked at McKinsey at an EM level. She'll be fine. Second guy is an "investor", one of the sharks in Shark Tank Colombia. Even has a Wikipedia article on him. He'll also be fine. Let SVB fail, hedge funds will probably buy startup deposits on 50-80 cents to the dollar. Startups will also be fine, just a small valuation drop :)
BrianHenryIE 4y ago
I read a line recently ~~ > the worst case scenario for rich people is that they will have to work like middle class people The people in the two examples you just used will be, at worst, fine.
shapefrog 4y ago
These messages seem very inconsistent with their usual messaging. Isn't this one of those opportunities for people with true hustle and the right grindset to thrive?

jnmandal 4y ago

Ok I'm sorry but both of these tweets are funny, if only because the tech community's hubris and cluelessness is on full display. First person is trying to contrast herself with the "1%" but if you read what her startup does it's literally a concept that caters almost exclusively to people with large disposable incomes. (A service for busy people to give them personal assistant style reminders about things they might forget to do such as buy backpacks and lunchboxes for your children from the pottery barn) Second person literally joined in the bank run, had all of his money wired out of SVB and then, immediately after doing that, buys shares in SVB because he "knows the CEO" and feels it's a good bank. Honestly we did this to ourselves folks. Idiocy on full display. People are laughing at us and we probably deserve it.

asciii 4y ago
I’m laughing because between all his group chats, he didn’t call his good friend the CEO to see what is up? > 1:30 PM: SVB is a solid bank. I know their CEO, Greg Becker. Great guy. I figure this is a temporary issue caused mainly by people panicking. They'll recover.
johnchristopher 4y ago
> First person is trying to contrast herself with the "1%" but if you read what her startup does it's literally a concept that caters almost exclusively to people with large disposable incomes. (A service for busy people to give them personal assistant style reminders about things they might forget to do such as buy backpacks and lunchboxes for your children from the pottery barn) Isn't that like saying waiters working at 5 stars restaurants frequented by 1% are themselves 1% ? Or the guy setting up the wifi and internet for the restaurant is also a 1% ?
- jnmandal 4y ago
  Do you really need someone to explain to you how being a funded startup founder is different than being an hourly worker on tipped wage at upscale restaurant? Is that a serious, genuine question or are you just trying to deflect criticism with a bad-faith take? I literally cannot tell anymore because this is the same lack of self-awareness present in her tweet. It's part of why people have come to hate our community and it's culture.
  - johnchristopher 4y ago
    > Do you really need someone to explain to you how being a funded startup founder is different than being an hourly worker on tipped wage at upscale restaurant? All I am saying is that person is not a 1% and not even close. She has every rights to contrast herself from them. > Is that a serious, genuine question or are you just trying to deflect criticism with a bad-faith take? I worded it as a question to soften it and leave the door opened to criticism. But if your stance is that those people are entitled or fake poor or hypocrites and deserved to be laughed at, frankly.. oh well, whatever.

fakedang 4y ago

First commenter says "I grew the business while navigating a high-risk pregnancy. I’d stop to see my ob en-route to the airport to get cleared to travel." 99%er Americans do not even get the chance to visit a doctor even when they have the time, even if they have a paying (low-income) job. Not to mention, she has a Fuqua MBA and worked at McKinsey at an EM level. She'll be fine. Second guy is an "investor", one of the sharks in Shark Tank Colombia. Even has a Wikipedia article on him. He'll also be fine. Let SVB fail, hedge funds will probably buy startup deposits on 50-80 cents to the dollar. Startups will also be fine, just a small valuation drop :)

BrianHenryIE 4y ago

I read a line recently ~~ > the worst case scenario for rich people is that they will have to work like middle class people The people in the two examples you just used will be, at worst, fine.

shapefrog 4y ago

These messages seem very inconsistent with their usual messaging. Isn't this one of those opportunities for people with true hustle and the right grindset to thrive?