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Silicon Valley Bank collapse sends tech startups scrambling
edition.cnn.com/2023/03/10/tec…

That story again:

#SiliconValley tech startups learn first hand about the dangers of centralization. 👀

#SVB

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Screenshot from the bank's website. Text: We bank: Nearly Half 2022 U.S. venture-backed technology and life science companies* 44% 2022 U.S. venture-backed technology and healthcare IPOs* 44% 2022 U.S. venture-backed technology and healthcare IPs Source: PitchBook and SVB analysis.
#siliconvalley #svb
This entry was edited (1 year ago)
in reply to Michał "rysiek" Woźniak · 🇺🇦

Michał "rysiek" Woźniak · 🇺🇦
Michał "rysiek" Woźniak · 🇺🇦
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Hypercapitalist techbros already calling for, wait for it, government intervention!

What happened to "the market will solve it"? :blobcatthinking:

"The market solves it" only if it's your money on the line, not their stock options. :blobcatthinksmart:

Remember all this bullshit about "we get the big payouts because we take the big risks"? Yeah, well… observe what happens when the risks actually materialize. Crying for risk-mitigating bailout *checks notes* literally the next day.

#SVB

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Screenshot of a tweet by Garry Tan (@garrytan). Text: 30% of YC companies exposed through SVB can’t make payroll in the next 30 days. If you or your company are affected, I recommend that you reach out to your local congressman to get this on their radar TODAY. Now. house.gov/representative...
#svb
This entry was edited (1 year ago)
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