Re:FDIC Takes over Silicon Valley Bank
by strbean on Saturday March 11, 2023 @12:00PM
(#35110202)
No, it's Peter Thiel's fault for intentionally initiating a bank run?
SVB's systemic risk was just that the vast majority of their depositors are startups, and can corralled into action by VCs. Thiel decided all the startups he backed should withdraw all their money from SVB at once, and knew the rest of the VC world would follow suit.
SVB's systemic risk was just that the vast majority of their depositors are startups, and can corralled into action by VCs. Thiel decided all the startups he backed should withdraw all their money from SVB at once, and knew the rest of the VC world would follow suit.