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Inside the CRAZY Final Hours of SVB's Bank Run that Could END Silicon Valley
13-03-2023, 07:42 AM
Another crap talker...end silicon valley my foot
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
13-03-2023, 07:50 AM
One of my close friends who is a VC backed startup Founder in Silicon Valley told me they deserve it. They are a very lazy bank. Doesn't do due diligence on depositors etc. They were thankful to have swapped out of SVB a few years ago.
13-03-2023, 07:53 AM
(13-03-2023, 07:50 AM)toothpick Wrote: One of my close friends who is a VC backed startup Founder in Silicon Valley told me they deserve it. They are a very lazy bank. Doesn't do due diligence on depositors etc. They were thankful to have swapped out of SVB a few years ago.
Why do you do "due diligence" on depositors ...who are giving you $$$?
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
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13-03-2023, 04:23 PM
(13-03-2023, 07:53 AM)sgbuffett Wrote: Why do you do "due diligence" on depositors ...who are giving you $$$?
When someone deposits $10M - 100M you need to ask where these money come from.
No bank will bother to ask where your $10k come from.
For loans as well, banks need to do the necessary DD. SVB doesnt do much of these.
Basically lazy executives.
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