Discussion

• @davidsacks David Sacks on x

  Where is Powell? Where is Yellen? Stop this crisis NOW. Announce that all depositors will be safe. Place SVB with a Top 4 bank. Do this before Monday open or there will be contagion and the crisis will spread.

• @ddisparte Dante Disparte on x

  @circle is currently protecting #USDC from a black swan failure in the U.S. banking system. @SVB_Financial is a critical bank in the U.S. economy and its failure - without a Federal rescue plan - will have broader implications for business, banking and entrepreneurs. https://twit…

• @cpa_trendlines Rick Telberg on x

  How founders are reacting to Silicon Valley Bank's collapse: The ripple effect of SVB's downfall is reverberating throughout the tech sector. How founders are reacting to Silicon Valley Bank's collapse by... https://techcrunch.com/... > https://confirmsubscription.com/ ... #tech…

• @yoda Drew Olanoff on x

  This is the most important part of this SVB situation. The companies. https://twitter.com/...

• @katie_roof Katie Roof on x

  At least one startup was planning to do layoffs today, but the Silicon Valley Bank situation forestalled those plans because the business, which banked with SVB, no longer had the capital to pay severance https://www.bloomberg.com/...

• @jsrailton John Scott-Railton on x

  Watching venture capitalists panic as they realize they've been cosplaying as Howard Roark & we aren't living in The Fountainhead is something to behold...

• @martinsfp @martinsfp on x

  Some debate in the replies about how many UK startups are affected but... it's a lot. https://twitter.com/...

• @brianroemmele Brian Roemmele on x

  Many have an array of opinions on the failure of Silicon Valley Bank. At the end of the day real people have been impacted by events that should not have taken place. There was trust, that was shattered today. https://twitter.com/...

• @alex @alex on x

  huge reporting lift here: How founders are reacting to Silicon Valley Bank's collapse https://techcrunch.com/...

• @kateclarktweets Kate Clark on x

  Investment firm StepStone Group, for instance, told LPs Friday that SVB serves as its depository bank and credit facility provider and asked LPs not to wire outstanding capital to the firm's SVB account. https://www.theinformation.com/ ...

• @alexweprin Alex Weprin on x

  Vimeo says it had bank accounts at Silicon Valley Bank, but the balance should be covered by the FDIC. https://www.sec.gov/...

• @jsrailton John Scott-Railton on x

  Silicon valley libertarians up through yesterday: Gov stifles innovation, keep them away. This morning: we need immediate, drastic government action.

• @dominicmadori Dom on x

  TechCrunch looked at how founders are reacting to SVB's collapse. Spoiler alert, emotions are high. “I never thought about the need to have more than one bank account for a company,” one first-time founder said. “This could end some companies.” https://techcrunch.com/...

• @cullend Cullen on x

  This is wild. This will effect so many more people outside of tech. For instance this company that partners with Medicare and Medicaid to deliver food and medicine to low income communities https://twitter.com/... https://twitter.com/...

• @scott_wiener Senator Scott Wiener on x

  The situation at Silicon Valley Bank has left many on edge SVB had $175B in deposits, a large % coming from SF small businesses, nonprofits & tech startups that are locked up due to the collapse. There are big ramifications if the Fed & US Treasury don't take fast action:🧵

• @bayareawriter Mary Ann Azevedo on x

  One founder promptly moved his company's money out of SVB and moved it to another bank.... https://techcrunch.com/...

• @mollypriddy Molly Priddy on x

  this is clearly a bummer but again, not sure why roku's business decisions are the taxpayers' responsibility https://twitter.com/...

• @stephennellis Stephen Nellis on x

  From an 8-K just filed: Roku has more than a quarter of its cash at SVB. Roku “does not know to what extent the Company will be able to recover its cash on deposit at SVB.” https://www.sec.gov/...

• @xpangler Todd Spangler on x

  Roku said it “does not know to what extent the company will be able to recover its cash on deposit at SVB” but says it has enough cash on hand & from expected cash flow to cover costs for 12+ months https://variety.com/... via @variety

• @devincow @devincow on x

  If anyone starts the Too Big To Fail crap I'm going to scream. https://twitter.com/...

• @adamblevine Adam B. Levine on x

  TFW you deposit half a billion dollars into a bank that goes bust and only $250k is covered by fdic 🤦‍♂️🤦‍♂️🤦‍♂️ https://www.cnbc.com/...

• @mikeisaac Rat King on x

  how many Rokus are out there preparing 8K filings right now.... what a nightmare https://www.cnbc.com/...

• @laurenshirsch Lauren Hirsch on x

  Per new bankruptcy filing, BlockFi has $227m in Silicon Valley Bank. The bankruptcy trustee warned them on Mon that bc those funds are in a money market mutual fund, they're not FDIC secured — which could be a prblm w/ keeping in compliance of bankruptcy law https://twitter.com/.…

• @frances_coppola Frances ‘Cassandra’ Coppola on x

  “FDIC secured” is meaningless anyway for that amount of money. The FDIC limit is $250k. https://twitter.com/...

• @justafamilyman_ @justafamilyman_ on x

  BlockFi is the gift that keeps on giving and not in a good way. This is a mess of epic proportions. smh https://twitter.com/...

• @bowtiedbull @bowtiedbull on x

  Thanks for playing. Hope you enjoyed your 2% “extra” return for that 12 month period. https://twitter.com/...

• @danprimack Dan Primack on x

  Why Silicon Valley is kinda screwed if no one buys SVB this weekend, and deposits remain frozen (or mostly frozen): 1/ Many companies need to meet payroll next Wednesday. Plus other expenses. 2/ Lines of credit tied up too. 3/ Many VC funds keep $$ in SVB, or SVB is an LP.

• @pitdesi Sheel Mohnot on x

  The best explainer of the SVB situation, unsurprisingly from @matt_levine Also unsurprisingly, his assessment is that depositors will be made whole by the acquirer https://www.bloomberg.com/...

• @danprimack Dan Primack on x

  Sure it's capitalizing on a bad situation. But it also could be a lifeline for certain companies... https://twitter.com/...

• @besttrousers Matt Darling on x

  “But there is another, subtler, more dangerous exposure to interest rates: You are the Bank of Startups, and startups are a low-interest-rate phenomenon.” https://twitter.com/...

• @bcmerchant Brian Merchant on x

  It will be rather telling if elite financiers and investors can swiftly cobble together $44 billion to wildly overpay for a beleaguered social media network at the behest of Elon Musk, but cannot find a way to stabilize a bank integral to the entire Silicon Valley economy https:/…

• @davidmwessel David Wessel on x

  Matt Levine has a good piece on SVB: One problem for Silicon Valley Bank is that its customers had too much cash, and now they don't. https://www.bloomberg.com/... via @opinion

• @alexjamesfitz Alex Fitzpatrick on x

  “If payrolls are missed, the pain could spread from boardrooms to kitchen tables.” https://www.axios.com/... via @danprimack

• @georgenhammond George Hammond on x

  “There's a lot of money that flows through those bank accounts every day that suddenly is not moving. There will be big consequences for the whole ecosystem. Employees getting paid, suppliers getting paid, financing [rounds] closing.” https://www.ft.com/...

• @nmasc_ Natasha Mascarenhas on x

  “You can use the code BANKRUN at checkout.” Here's how founders are reacting to SVB's collapse https://techcrunch.com/... w/ @bayareawriter @DominicMadori @Kyle_L_Wiggers @kirstenkorosec

• @mims Christopher Mims on x

  In worst case scenario, “tens of thousands” of employees at tech companies / startups may not get paid next week because of collapse of Silicon Valley Bank One startup founder said layoffs could result. Unclear at present if that will come to pass. https://www.bloomberg.com/...

• @stevematthews12 Steve Matthews on x

  Startup businesses are starting to worry about whether they will be able to keep paying employees following the failure of Silicon Valley Bank. “Expect mass layoffs later today, Monday at latest.” https://www.bloomberg.com/... via @technology

• @carnage4life Dare Obasanjo on x

  If your employer banks with SVB, it's currently unknown if there'll be money to pay you next week given the bank's failure. If anyone tells you this is FUD, then they are underplaying the impact of this crisis. https://www.axios.com/...

• @rabble @rabble on x

  Yesterday was crazy.... thanks to @mercury for coming through for us. https://twitter.com/...

• @axios @axios on x

  This weekend is key to determining if Silicon Valley Bank's collapse escalates from an inconvenience to a crisis for SVB clients — most of which are businesses that need to meet payroll. https://www.axios.com/...

• @robinwigg Robin Wigglesworth on x

  JPMorgan's banking analysts think the panic around “world class” Silicon Valley Bank is overdone. “We would be buyers of SIVB shares at this highly attractive valuation.” https://twitter.com/...

• @fedguy12 Joseph Wang on x

  So $SVIB has $200b in assets, of which $116 are securities. About $80b of that are high quality liquid assets that could be sold or repo'd for cash. Looks good until.. https://twitter.com/...

• @robynobrienusa Robyn O'Brien on x

  How did this happen? Silicon Valley Bank's president successfully pressured lawmakers to weaken bank risk regulations before his bank's collapse. They captured the regulator. And as a result, 93% of the bank's $161 billion in deposits are uninsured. #PolicyMatters https://twitter…

• @eringriffith Erin Griffith on x

  How is the start-up world reacting to the collapse of SVB?? Well https://www.nytimes.com/... https://twitter.com/...

• @rachaelrad Rachael Horwitz on x

  “None of my reps will call me back,” Ms. Tyrner said. “It's the worst 24 hours of my life.” Her startup delivers food to Medicare and Medicaid participants. That's whose hurting right now. https://www.nytimes.com/...

• @ivanthek @ivanthek on x

  Yeesh. Timing couldn't have been worse. However, this weekend, an acquirer might agree with the supporting opinions, especially at $0 per share. It might even be their employer. https://twitter.com/...

• @anshublog Anshu Sharma on x

  “There are two things in life that only exist if you believe in them: God and bank runs”, via @nytimes @eringriffith on @SVB_Financial https://www.nytimes.com/...

• @trippmickle Tripp Mickle on x

  “This is the worst email I've ever had to write to you,” a venture firm said in a memo to backers. @eringriffith on the panic sweeping startup land https://www.nytimes.com/...

• @eringriffith Erin Griffith on x

  This story has a little of everything! Angry, scared, wary and determined founders. Memes. Memos. Firesales. Apologies. Emergency bridge loans. Harrowing moments. Contingency plans. And Chick-fil-A. https://www.nytimes.com/...

• @chrisabraham Chris Abraham on x

  >Young companies raced to get their money out of the bank, which was central to the start-up industry. Some said they could not make payroll. >Silicon Valley Bank's Collapse Causes Start-Up Chaos https://www.nytimes.com/...

• @denniskelleher Dennis Kelleher on x

  Of course @jpmorgan would be buying; this crisis is non-TBTF banks whipsawed by @federalreserve's policy pivot; see my PR here: “Growing Banking Crisis Caused by Contagion from Silicon Valley Bank Failure Going to Get Worse, Inevitable Due to Fed”: https://bettermarkets.org/... h…