FDIC shuts down Silicon Valley Bank, crash incoming? Update: 2nd bank, Signature Bank in NY closed

[KFBF]

I've spent fifteen minutes on the Strongsuit website and I still can't tell what it is.

Prior to founding Strongsuit, Lindsey was a business strategist and management consultant with McKinsey & Company. Lindsey has more than 10 years of experience in business strategy with experience across the healthcare, retail, and media industries. Both as a consultant and corporate strategy leader, Lindsey focused largely on business model transformation and large scale M&A and joint venture creation. She has an MBA from Duke University and a undergraduate degree from DePauw University. Lindsey lives in Ohio with her husband and four young children.

 

[bnew]

FWIW I'm not against all modern tech, but I don't see how public message boards have made my life or anyone else's better. I can point to plenty of ways to how society is worse off because of it now though.

I've always been a hands on learner, I'm capable in both the automotive and construction trades and rarely ever went on youtube to teach me any of this stuff. It was all done by either being in the field or running out to an automotive store to buy a book dedicated to the specific car I was working on. Now everyone has all this info at there fingertips yet craftmanship and work ethic is at an all time low lol. Again, I'm not really seeing what a lot of these startups are bring to the table by and large. All I've really seen is it leading to a society based on instant gratification that's tethered to something that could easily have the switch flipped on them.

we're a service/information economy and productivity is at an all time high.

 

[69 others]

You know what this is too easy.....

fukk it, this is like manna from heaven for them

I've spent fifteen minutes on the Strongsuit website and I still can't tell what it is.

I was wondering why her shyt keeps coming up she's going on like she's some single mother on her last dime. she damn well know that mckinsey badge probably got her the founding. I looked at the site it's vague as fukk this video was the clearest thing i found for an explanation and it seems like her business is providing human calendars for people I'm still confused, like who is funding this type of bullshyt





EDIT:


EDIT:
people on twitter is saying her "husband in manufacturing" is a steel mill executive.

Don't care to dig further but this woman really tried to run with a sob story. I only feel sorry for her staff. either way, she need to go get a loan or something elsewhere to pay those people and stop bullshyting.
Also if she ain't a coastal elite why was she banking with a silicon valley bank? why not put that into a local credit union or something.

 

[NaijaProdigy Redux]

I'm pretty confident they'll announce some type of support / backstop ahead of the market open.

I wouldn't take anything Yellen says at face value. She's careful about how she's characterizing a bailout.

 

[Payday23]

He knows damn well the FDIC won’t do that .

He’s gonna try to cause unnecessary panic ,short stocks and then change positions before everyone realizes it’s been overblown.


Make money both ways

He should be charged with market manipulation then

 

[69 others]

I'm pretty confident they'll announce some type of support / backstop ahead of the market open.

I wouldn't take anything Yellen says at face value. She's careful about how she's characterizing a bailout.

They already announced that uninsured customers will get a payout based on the remaining assets plus they're trying to auction off the entire thing or parts of it by tomorrow.

 

[FaTaL]

 

[the bossman]

I'm pretty confident they'll announce some type of support / backstop ahead of the market open.

I wouldn't take anything Yellen says at face value. She's careful about how she's characterizing a bailout.

Same crew that said inflation was transitory

 

[IIVI]

What do you think is about to go down or is it a nothing burger?

I really can't call it: it's really red wire/blue wire. Out of my hands as we've seen good points from both sides.

Concoda seems have have updated their take to being less bullish for what it's worth:


Which really goes to show plenty of experts are waiting to see what happens along with everyone else.

 

[NaijaProdigy Redux]

They already announced that uninsured customers will get a payout based on the remaining assets plus they're trying to auction off the entire thing or parts of it by tomorrow.

That’s always the case when a bank goes into receivership. The issue is selling off the remaining assets to redeem the uninsured deposit receipts takes time. No way that gets figured out by the government before market open unless someone comes in and buys it.

Also the advanced dividend later in the week I don’t think has been quantified

What they could do is communicate some level of guarantee above the normal FDIC threshold or provide some credit facility

The option of last resort for a lot of these start ups probably involves selling their uninsured deposit receipts for cents on the dollar to special lending firms

 

[Creepn]

Also if she ain't a coastal elite why was she banking with a silicon valley bank? why not put that into a local credit union or sosomething.

I wonder if it's part of the vc deal that they have to deposit at a svb?

 

[NaijaProdigy Redux]

I wonder if it's part of the vc deal that they have to deposit at a svb?

Yes. Most debt raised via SVB contained a covenant in the credit agreement requiring SVB to be the sole provider

 

[FaTaL]

I wonder if it's part of the vc deal that they have to deposit at a svb?

yes it was

 

[Paper Boi]

 

[jwinfield]