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Ask HN: Is SVB collapse orchestrated by crypto bros like Balaji?
SVB collapse is an artificial one aggravated by rumors. Is there a chance that crypto influencers could be behind this?
- PaulHoule 4y agoNo.
- nothrowaways 4y agoReason?
- PaulHoule 4y agoThere was a real initiating event (SVB requiring a capital raise because they had a shortfall caused by selling bonds before term.) Many other people had a reason to pull out large deposits because they were afraid to get them back. Crypto bros may have been part of this crowd but the stampede would have happened without them.
- deleted 4y ago[deleted]
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- celticninja 4y agolook at the tweets that supposedly started this sentiment train, were they from crypto bros? Short answer: No. Long answer: No, they were VCs.
- warrenm 4y agoBy "chance", do you mean "actual, plausible chance ... say at least single digit percentage"? No If by "chance" you mean "in a hypothetical alternate universe where crypto 'influencers' actually exist, AND people care about them" ... The answer's still "no"
- KomoD 4y agoWho?
- MilnerRoute 4y agoNumerous mainstream VCs pulled their money. They did this because they knew the bank was struggling, and their own funds were uninsured. You don't need to postulate an additional extraneous role for "crypto influencers." The spark was general knowledge of those struggles, that the bank itself announced right before the run. The bank had also been badly run for years. This was also known and written about. I think this theory gives way too much supposed power to crypto influencers. It's like blaming the rain on Bigfoot. There's a line in a book I like. Paraphrasing, but... "You're not big enough for God to care that much about your sins."