gsibble

34 ms·

421.
by gsibble 4y ago
I really don't think personal attacks are called for. Only Iridium was my company, which built a pretty unique app that was featured in the App Store in its very first year (of the App Store). You conveniently left out Omnivore.io, the
422.
by gsibble 4y ago
Thank you :)
423.
by gsibble 4y ago
My attorneys made it 100% clear that missing payroll would make the officers and directors liable immediately in this situation. It was news to a lot of the companies we talked to.
424.
by gsibble 4y ago
I don't think it has. This was a once in a lifetime kind of thing. My other companies are all innovative technology companies, like you said.
425.
by gsibble 4y ago
I'm definitely not saying I need a bailout. And we were offering 90-95 cents on the dollar while banks and hedge funds were offering 60-70.
426.
by gsibble 4y ago
Thank you :) That was the idea.
427.
by gsibble 4y ago
It was incredibly fun and a wild experience. We also weren't going to make much profit. We were offering 90-95c on the dollar compared to 60-70 from banks and hedge funds. This was about saving companies and jobs. Thought I'd shar
428.
by gsibble 4y ago
Interesting observation. Thanks.
429.
by gsibble 4y ago
Solid question.
430.
by gsibble 4y ago
Kind of why I mentioned it. Most CEOs and Directors don't know they are personally liable if wages aren't paid.
431.
by gsibble 4y ago
We were negotiating over 90-95c on the dollar while hedge funds and banks were offering 60-70.
432.
by gsibble 4y ago
I am glad it wasn't needed. I was also offering significantly better terms and not even making much profit at all.
433.
by gsibble 4y ago
Ha! Now there's an idea.
434.
The fall of SVB and how I tried to save as many straps as I could(startupdreams.substack.com)
31 points by gsibble 4y ago|78 comments
435.
by gsibble 4y ago
If this was some big bank serving farming companies in Oklahoma this never would have happened. This only happened because wealthy and powerful politically connected investors stood to lose billions if it didn't. And surprise, they&#x2
436.
SVB collapse highlights $620B hole lurking in banks’ balance sheets(finance.yahoo.com)
4 points by gsibble 4y ago|0 comments
437.
by gsibble 4y ago
The only reason they stepped in to protect these depositors was because their investors were politically connected and powerful and they stood to lost billions.
438.
by gsibble 4y ago
I bet if all the startup investors were Republican this wouldn't have happened.
439.
by gsibble 4y ago
Exactly. This is really bailing out the rich and their investments. Such bullshit.
440.
by gsibble 4y ago
Everyone should google "moral hazard"
441.
by gsibble 4y ago
I think the downvotes prove my point.
442.
by gsibble 4y ago
Bidding ended at 2pm Eastern. We would have heard if there was a buyer by now.
443.
by gsibble 4y ago
Can we just cut through the bull and admit the only reason the federal government is even considering this is because all the super wealthy who own all the startups and who had a lot of their own money in SVB are Democrats? If these people
444.
by gsibble 4y ago
Well put.
445.
by gsibble 4y ago
Archive: https://12ft.io/proxy?&q=https%3A%2F%2Fwww.ft.com%2Fcontent%...
446.
SVB collapse leaves founders liable for unpaid wages(ft.com)
3 points by gsibble 4y ago|2 comments
447.
by gsibble 4y ago
Most people lack the ability to help themselves when they need government intervention.
448.
by gsibble 4y ago
The fact that VCs would rather have taxpayers save their investments rather than pony up themselves really tells you all you need to know about fucking VCs.
449.
by gsibble 4y ago
This is the political/elite class of SF pressuring Treasury and the Fed to protect their investments in the startup world. We shouldn't stand for this.
450.
FDIC, Fed, and Treasury are considering a plan to backstop all SVB depositors
4 points by gsibble 4y ago|5 comments

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