muzz

6 ms·

31.
by muzz 3y ago
More like "from low-interest borrowing" Institutional buying peaked in 2022 and has fallen off a cliff as interest rates have gone up
32.
by muzz 3y ago
No, those are states with the highest percentage of vacant homes, not the most. The states with the most vacant homes are Florida, California, Texas, and New York. https://www.lendingtree.com/home/mortgage/vacanc
33.
by muzz 3y ago
It wasn't the narrative. It wasn't the "overbuilding crisis", it was always the "subprime crisis"
34.
by muzz 3y ago
Rising mortgage rates is literally mentioned as a cause in the title of the linked source from ATTOM, and seems to be completely ignored by all commenters.
35.
New app lets you rent private bathrooms on-demand in San Diego(10news.com)
1 points by muzz 3y ago|0 comments
36.
An Accelerator for AI-Native Startups(conviction.com)
2 points by muzz 3y ago|0 comments
37.
by muzz 3y ago
No, they took risk by buying long dated bonds which had X% yield rather than short dated ones which had close to 0% yield. It was a huge gamble.
38.
by muzz 3y ago
It would have been even quicker than that-- a large portion of the uninsured deposits would have been available on Monday March 13 ie _the next business day_ after the bank was seized: https://www.bloomberg.com/news/art
39.
by muzz 3y ago
The "haircut" would have been less than 15%, this is why the bailout of $151B in uninsured desposits was less than $20B and not $151B. So if they had $5M uninsured in SVB they would have received $4.25M and suffered only a 750k lo
40.
Rubrik Hires Banks for IPO(reuters.com)
1 points by muzz 3y ago|0 comments
41.
by muzz 3y ago
Hinton calls it a nuance: https://twitter.com/geoffreyhinton/status/165309276016385228...
42.
by muzz 3y ago
Exactly. The cost will ultimately be borne by bank customers
43.
by muzz 3y ago
This is eventually a subsidy to the sellers (while the program is in effect)
44.
by muzz 4y ago
With externalities thrust upon the neighbors
45.
by muzz 4y ago
I view it more like a corporate version of John Locke's social contract, and that it's not the way they laid off people, but the simple fact that they did. Some good performers were laid off, so the pre-existing situation-- wh
46.
by muzz 4y ago
The article seems to be at odds with Garry's assertion just 20 seconds in to this clip: https://www.cnbc.com/video/2023/03/10/y-combinators-garry-ta...
47.
by muzz 4y ago
The whole article appears to be about a few hours on Friday The entire SVB situation was made to be much ado about nothing by self-promoters. You didn't see veterans from Sequoia, Kleiner, etc, screaming on Friday.
48.
by muzz 4y ago
It was crisis acting
49.
Startups Asked for Help Making Payroll After SVB. VC Responses Were Mixed(forbes.com)
2 points by muzz 4y ago|0 comments
50.
by muzz 4y ago
Isn't there a secondary market for the shares? Also, if/when a company has too many shareholders it has to release it's financials to the public, and at that point it might as well be public. Facebook faced this issue in 201
51.
Social-Media Postings Amplify Anxiety over SVB Collapse(wsj.com)
1 points by muzz 4y ago|0 comments
52.
Silicon Valley Learns to Love Socialism for the Rich(thenation.com)
122 points by muzz 4y ago|69 comments
53.
by muzz 4y ago
$20 Billion is roughly $60 for every person in the country It's more the state government budget for about 1/3 of the states in the union
54.
by muzz 4y ago
And also "people with bank accounts who don't make enough to pay taxes" like my grandma.
55.
by muzz 4y ago
The market cap of SVB on Friday was $6 B The amount of uninsured deposits was $150 B The value of all the stock is 4% of the amount of uninsured deposits
56.
by muzz 4y ago
Yes I forgot to mention the key part
57.
by muzz 4y ago
Good points > presumably marked to market This is the key-- not sure if we really know what is marked to market at what isn't > held the rest of the book to maturity That's like 8 years? and a gain in nominal terms but to r
58.
by muzz 4y ago
"Help depositors" means a taxpayer bailout of uninsured deposits
59.
by muzz 4y ago
Isn't the loan backed by the deposit at SVB? That seems like the whole point of it. Yes some startups will go bankrupt and most of the remaining ones won't be profitable any time soon. Surely Brex isn't counting on the prof
60.
by muzz 4y ago
True but that doesn't happen all at once. Rates have been rising for more than a year now (not in a straight line but overall of course). They could have unwound this carry trade in March 2022 and probably come out ahead. Had they w

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