[05:44:34] <⁦BWM⁩#6978> Jesus [05:44:44] <⁦BWM⁩#6978> Silicon Valley infrastructure is coming apart [05:47:36] <⁦BWM⁩#6978> it's a lot of market anxiety [05:47:48] <⁦BWM⁩#6978> but that anxiety just destroyed a crucial part of the valley [05:47:49] <⁦BWM⁩#6978> wow [05:53:17] <⁦Agent⁩#3928> RIP SVB [05:53:51] <⁦Agent⁩#3928> Seems like a bank run may be imminent [05:55:55] <⁦Agent⁩#3928> It's amazing how expensive Silicon Valley is and how it's become such a hotbed in the past few years [05:56:49] <⁦Agent⁩#3928> I was watching a documentary on a local theme park in Santa Clara, California's Great America, and it's crazy to see how the land the park was on was once just an orange field [05:57:14] <⁦Agent⁩#3928> and was bought very cheaply [05:57:39] <⁦BWM⁩#6978, replying to ⁦Agent⁩#3928> I love great america hah [05:57:47] <⁦Agent⁩#3928> I do too [05:57:51] <⁦Agent⁩#3928> lol [05:57:58] <⁦BWM⁩#6978, replying to ⁦Agent⁩#3928> yeah it's just....sad to see [05:58:07] <⁦BWM⁩#6978> and it wasn't even SVB's fault persay [05:58:13] <⁦BWM⁩#6978> just anxiety from everyone [05:58:23] <⁦BWM⁩#6978> the only thing there is to fear.....is fear itself [05:58:47] <⁦Agent⁩#3928> The commotion from people like Peter Thiel who's telling everyone to withdrawn ASAP certainly isn't helping [05:58:57] <⁦Agent⁩#3928> We'll likely see a bank run soon [05:59:10] <⁦Agent⁩#3928> and what's worse is that supposedly a lot of deposits there aren't FDIC insured [05:59:18] <⁦BWM⁩#6978> i believe several companies have already pulled their funds [05:59:29] <⁦Agent⁩#3928> they're a pretty big bank though [05:59:36] <⁦Agent⁩#3928> somewhere in the top 20s in the US [05:59:37] <⁦BWM⁩#6978, replying to ⁦Agent⁩#3928> they're the startup bank [05:59:49] <⁦BWM⁩#6978> and silicon valley is made of startups [05:59:56] <⁦Agent⁩#3928> interesting [06:00:07] <⁦Agent⁩#3928> Before today, I honestly can't say I had heard of the bank [06:00:20] <⁦Agent⁩#3928> I did see it trending and then saw people panicking about their stock flopping 60% [06:00:35] <⁦BWM⁩#6978, replying to ⁦Agent⁩#3928> yeah.....if SVB doesn't get bought out, the worst-case catastrophe scenario is that a massive amount of valley startups file for bankruptcy [06:00:49] <⁦BWM⁩#6978> which sets the entire Silicon Valley culture in a sense, back a decade or more [06:00:54] <⁦BWM⁩#6978, replying to ⁦Agent⁩#3928> 80% now [06:00:58] <⁦Agent⁩#3928> yikes [06:01:02] <⁦Agent⁩#3928> time to invest? [06:01:05] <⁦Agent⁩#3928> lol [06:01:09] <⁦BWM⁩#6978> you never know lol [06:01:14] <⁦BWM⁩#6978> but it's just sad to see [06:01:29] <⁦BWM⁩#6978> SVB seems to be a victim of the current economic climate [06:02:02] <⁦Agent⁩#3928> with the very high cost of living in Silicon Valley, I'd really hope that companies don't have to shutter and leave their employees out in the cold [06:02:14] <⁦BWM⁩#6978, replying to ⁦Agent⁩#3928> SVB will have to at the very minimum [06:02:21] <⁦BWM⁩#6978> all those stock options for their employees, poof [06:02:32] <⁦BWM⁩#6978> bond holders, maybe, but still likely poof [06:02:55] <⁦BWM⁩#6978, replying to ⁦Agent⁩#3928> i believe so [06:03:01] <⁦Agent⁩#3928> Something's going to have to be done, this will certainly wipe out a lot of companies [06:03:10] <⁦BWM⁩#6978> on the tiny bright side though.....it won't touch retail banking [06:03:12] <⁦Agent⁩#3928> some project it can propel us closer to a recession [06:03:26] <⁦BWM⁩#6978> the second it comes close to hitting individual consumers, the FDIC steps in [06:03:33] <⁦BWM⁩#6978, replying to ⁦Agent⁩#3928> it probably will tbh [06:03:51] <⁦Agent⁩#3928> It has $170B in deposits [06:03:58] <⁦Agent⁩#3928> if they fail, that'd be quite the scandal [06:04:14] <⁦Agent⁩#3928> that's many times bigger than FTX and FTX caused a lot of commotion [06:04:20] <⁦BWM⁩#6978> yup [06:04:21] <⁦Agent⁩#3928> now imagine a bank 3x their size failing [06:04:31] <⁦BWM⁩#6978> SVB is on the verge of failure [06:05:05] <⁦BWM⁩#6978> we'll have to wait and see i suppose [06:05:10] <⁦BWM⁩#6978> but tomorrow will dictate a lot [06:05:50] <⁦Agent⁩#3928> I traded stocks for a long time but it's just so tiring to have to keep up with things like this [06:06:38] <⁦Agent⁩#3928> better just put your money in a 0.01% APY savings account :P [06:06:40] <⁦Agent⁩#3928> at this point [06:06:54] <⁦BWM⁩#6978> honestly yeah i wouldn't really disagree [06:07:09] <⁦BWM⁩#6978> and somehow it isn't even on the front page of the Times [06:07:47] <⁦BWM⁩#6978> it just pops up near the bottom [06:07:59] <⁦BWM⁩#6978> but Trump was also rumored to be indicted today so that's front-page headlines for NYT [06:08:43] <⁦Agent⁩#3928> supposedly [06:08:51] <⁦Agent⁩#3928> I don't really think he'll ever face any real issue [06:09:10] <⁦Agent⁩#3928> knowing him, he'll always be able to dodge anything thrown at him [06:09:18] <⁦BWM⁩#6978> sadly yes [06:09:32] <⁦BWM⁩#6978> but federal obstruction charges would be hard to go around [06:09:44] <⁦BWM⁩#6978> and that's what the Special Counsel is trying to nail him for [06:09:54] <⁦BWM⁩#6978> that's the best shot at Trump imo [06:10:41] <⁦Agent⁩#3928> The judge will issue a slap on the wrist [06:10:49] <⁦Agent⁩#3928> that's how it's always been [06:12:23] <⁦BWM⁩#6978> that's true, sadly [06:12:29] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [1/10] If Your Doctor Spoke Like Trump [06:12:29] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [2/10] [06:12:29] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [3/10] So it seems you’ve tested positive for the Chinese virus, the so-called Covid NINETEEN, the Corona—nobody knows what to call it, quite frankly. It’s the most amazing thing, no one knew anything about Corona until a few weeks ago. [06:12:30] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [4/10] [06:12:30] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [5/10] But the moment I heard about it—the Wuhan flu; it’s also the Wuhan, or WuHAAN—that’s a city in China. Many people don’t know that. But t [06:12:30] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [2/8] he moment I heard about this Chinese flu, I ordered a test. And it’s an amazing test. We do better testing than anywhere in the world. Some say the Germans have the best tests, but they don’t. Our tests are even better. [06:12:31] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [3/8] [06:12:31] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [4/8] So you’re positive for Corona. And usually “positive” is a positive word—it’s a very good word, frankly. Everybody thinks it’s good, apart from what you hear on the news—which is [06:12:31] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [3/8] fake. It’s largely fake. But in medicine, “positive” is not so good. So it’s very confusing. And I’ve always been very clear about that. Some say “positive” is always good, but I’ve never agreed with that. [06:12:32] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [4/8] [06:12:32] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [5/8] So you’re positive for the Corona. But you’ll be fine. Totally fine. You might think you’re going to die—and everybody does die, eventually. But you’ll be fine. You feel fine, right? You won’t [06:12:32] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> [4/10] need a ventilator. There are no ventilators—but you won’t need one. [06:13:08] <⁦BWM⁩#6978> jesus [06:13:16] <⁦Colleiflower⁩#9284> on r/copypasta [06:13:17] <⁦Colleiflower⁩#9284> lmao [06:13:21] <⁦BWM⁩#6978> wow [06:13:23] <⁦BWM⁩#6978> that's [06:13:24] <⁦BWM⁩#6978> uh [06:13:27] <⁦BWM⁩#6978> something [06:13:34] <⁦Colleiflower⁩#9284> yes [06:13:35] <⁦Colleiflower⁩#9284> lmao [06:13:38] <⁦Colleiflower⁩#9284> there's been worse things there [06:14:07] <⁦Colleiflower⁩#9284> there are several kb essays from people talking about their fantasies about lolis [06:14:21] <⁦BWM⁩#6978> yeah i don't need to know that [06:14:24] <⁦Colleiflower⁩#9284> ok sorry lmao [06:14:44] <⁦BWM⁩#6978> hah [06:14:57] <⁦BWM⁩#6978> it's been a long day [06:15:10] <⁦BWM⁩#6978> might just call it a night early [06:15:13] <⁦BWM⁩#6978> not yet though [06:15:23] <⁦Colleiflower⁩#9284> alr lmao [06:17:55] <⁦BWM⁩#6978> oh my nitro sub ends in 11 days [06:18:04] <⁦BWM⁩#6978> it was a free month [06:18:05] <⁦BWM⁩#6978> sad [06:23:47] <⁦Agent⁩#3928> Congrats @Pincle! [06:24:13] <⁦Agent⁩#3928> Please <⁦BWM⁩#6978, replying to ⁦Agent⁩#3928> congrats! [07:03:44] <⁦NotAracham⁩#0009> RE: SVB, it's bumming me out. Entirely unnecessary follow-on to the unnecessary panic + layoff brainworms we've already seen bouncing around tech leadership, this is precisely how you cause an unnecessary recession or push it much, much closer. [07:05:18] <⁦NotAracham⁩#0009> But to be less of a downer, Congrats to Buehl now that it's official, and soon to be congrats to 1108-Kiju! 🥳 [07:16:48] <⁦Legroom⁩#2748> what w/ Buehl? [08:25:25] <⁦Pincle⁩#0312> /auth [08:27:23] <⁦Pincle⁩#0312, replying to ⁦Agent⁩#3928> Thank you,Agent,BrandonWM,NotAracham! [08:27:59] <⁦Pincle⁩#0312, replying to ⁦Legroom⁩#2748> It's me [08:30:03] <⁦Legroom⁩#2748> I mean what congrats are about xd [08:53:51] <⁦NotAracham⁩#0009> Elected global rollbacker [09:05:37] <⁦Legroom⁩#2748> I see, congrats [10:41:50] <⁦Kiju⁩#5889, replying to ⁦NotAracham⁩#0009> Thank you NotAracham! [11:49:45] <⁦Fiddlestix⁩#9401> congrats @Pincle! [12:11:00] <⁦Agent⁩#3928, replying to ⁦Pincle⁩#0312> Just click this blue link: <⁦Kiju⁩#5889> Congrats to @Buehl106! [15:02:03] <⁦Pincle⁩#0312> [15:02:15] <⁦Pincle⁩#0312> Error is happening [15:03:23] <⁦Colleiflower⁩#9284> i've had the same thing happen before [15:03:31] <⁦Colleiflower⁩#9284> i forgot what causes it [15:09:08] <⁦raidarr⁩#6550> Congrats to Buehl106, and early to what is surely a successful Kiju vote, and a likely successful Brandon vote after that [15:09:50] <⁦raidarr⁩#6550> may spam and vandalism be purged under their benevolent tyranny and may all of them (when they get their rights, buehl already) feel free to reach out to a GS/steward for fire support or advice anytime [15:12:13] <⁦Agent⁩#3928, replying to ⁦Pincle⁩#0312> Strange. Keep typing <⁦Agent⁩#3928> But he's, congrats!! [15:12:21] <⁦Agent⁩#3928> Welcome to CVT [15:13:48] <⁦Pincle⁩#0312> [15:13:59] <⁦Kiju⁩#5889, replying to ⁦Pincle⁩#0312> I have encountered that error before, but when I tried again a few hours later, it succeeded. [15:14:01] <⁦Pincle⁩#0312> I was just confirmed! [15:14:49] <⁦Kiju⁩#5889> Glad you were successful in getting it confirmed. [15:16:36] <⁦Agent⁩#3928, replying to ⁦Pincle⁩#0312> I've granted you the roles [15:16:44] <⁦Agent⁩#3928> Welcome! [15:17:00] <⁦Pincle⁩#0312> Thank you! [15:17:04] <⁦Agent⁩#3928> np [15:36:06] <⁦Kiju⁩#5889> I'm embarrassed to ask this now, what is "Announcement Pings" roll? [15:36:29] <⁦raidarr⁩#6550, replying to ⁦Kiju⁩#5889> to be pinged when announcements are posted [15:37:15] <⁦raidarr⁩#6550> a compromise to not use the everyone ping, which can irritate members, therefore the announcement ping is opting in to be pinged [15:39:29] <⁦Kiju⁩#5889> I see. Thank you for teach me. [15:40:27] <⁦raidarr⁩#6550> np [16:55:17] <⁦BWM⁩#6978> wow [16:55:29] <⁦BWM⁩#6978> california regulators just closed SVB [16:55:48] <⁦BWM⁩#6978> 93% of the $170B in deposits at SVB aren't FDIC-insured [16:55:57] <⁦BWM⁩#6978> holy shit [17:17:54] <⁦NotAracham⁩#0009> Uhhh. [17:17:56] <⁦NotAracham⁩#0009> Uh oh [17:18:26] <⁦NotAracham⁩#0009> Sorry guys, been a great run, but I may be looking for work soon. 😱 [17:18:44] <⁦NotAracham⁩#0009> (light jokes, but we'll see how much the tech sector craters after that) [22:41:46] <⁦Agent⁩#3928> https://twitter.com/CNBCnow/status/1634320417908482049 [22:41:47] [Twitter] CNBC Now (@CNBCnow): Roku tumbles in after-hours trading after saying that 26% of its cash and cash equivalents were held at Silicon Valley Bank and “does not know to what extent the Company will be able to recover its cash on deposit at SVB.” https://video.twimg.com/ext_tw_video/1634320283979882496/pu/vid/1280x720/_Gu_anBfLwFO7mAe.mp4?tag=12 | 53 RTs | 81 ♥s | Posted: 2023-03-10 - 22:28:46UTC