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In the aftermath of SilverGate and SVB demise people are rightfully (from their perspective) rooting for a shake-up at the top of the social pyramid. I don't k
by JumpinJack_Cash 4y ago
In the aftermath of SilverGate and SVB demise people are rightfully (from their perspective) rooting for a shake-up at the top of the social pyramid.
I don't know if people realize but living in San Francisco and being at the helm of your own company with millions in equity funding is an extreme privilege.
Millions of things have to go right in order for that person to be in such position. That is the dream of many individuals who were not so lucky.
Now one thing goes wrong for them and there could be a turnover at the top, at least a shake-up, meaning other people will get to be in such extreme privileged position and the formerly privileged have to back down and go do something else instead. Something a bit less privileged.
Instead here comes daddy-government to ensure that everything is freezed in place with no shake up whatsoever.
- TechBro8615 4y agoFor every one privileged founder there are dozens of employees who won't get paid.
- JumpinJack_Cash 4y agoAnd each and everyone of them has a slam-dunk case in a class action lawsuit against the board of the company they were employed. Not to mention employees didn't have their savings in SVB so their net worth is not at risk, whereas it's the 'net worth' of the company which is at risk because it was all stored in SVB accounts.