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When a building is on fire, no one is going to (nor should they) blame you for trying to get to the exit. Did Peter Thiel cause the bank to fail? No, their mis

When a building is on fire, no one is going to (nor should they) blame you for trying to get to the exit. Did Peter Thiel cause the bank to fail? No, their mis-management did. Did Peter Thiel try to safeguard his companies' bank positions? Yes, so they can make payroll and operate. Who are these people to throw blame, when the building's still smoldering ashes and the smoke hasn't cleared. Maybe he called the CEO and got bad messages. Maybe no one talked to him, so he said, "F it, pull out". No one yet knows all the factors which caused the failure, but let's start with the company itself, not its customers.

twblalock 4y ago
> Did Peter Thiel try to safeguard his companies' bank positions? Yes, so they can make payroll and operate. Seriously, if I was a CEO trying to make payroll right now and I found out a board member knew my bank was screwed and didn't try to help me, I'd be working on a lawsuit. Thiel did his duty as a board member and investor. He should not be blamed for acting rationally. The bank should be blamed for making a run the only rational choice.