28 ms·

Sam Altman on SVB

• deleted 4y ago
  [deleted]
• breck 4y ago
  Asking for a bailout for the 1% is pathetic. > the government has a role to protect depositors, and we should all want this certainty. Yes, and the government DOES protect depositors and is 100% clear about it--up to $250K, which covers 95-99% of Americans. It could not have been clearer that amounts over $250K were uninsured. A seven year old can understand this. Everyone with more than $250K should take a haircut if there are not enough funds to go around. The government should NOT bail out the 1%. This affects my portfolio companies. They will survive, tougher. The lack of integrity shown by some in the VC class is pretty revealing. Sadly I bet they will get their bailout. You get a sense that their secret private message groups are becoming more organized. Anyone calling for a bailout of depositors with over $250K should be ashamed. At the very least, publish your dataset of all your positions. You want the public's help, time to make yourself more public.
  • elkos 4y ago
    I do believe that most SVB depositors will get a form of bailout. I don't want to believe that it will come without any obligations though.
    • breck 4y ago
      > I don't want to believe that it will come without any obligations though. A no strings attached guarantee of 100% depositor funds over $250K would be awful (but sadly, has a chance of happening). I hope you are right and any bailout comes with obligations. I think you could easily craft a win-win-win where companies get their >250K deposits back in return for offering a great deal to the public.