[00:00:47] <⁦Fiddlestix⁩#9401> yikes [00:01:57] <⁦Fiddlestix⁩#9401> nothing is faster than wikipedians updating is with was and updating the infoboxes [00:03:17] <⁦NotAracham⁩#0009> Someone had that sitting in drafts for sure [00:03:54] <⁦Fiddlestix⁩#9401> i ever really heard of svb but damn [00:08:31] <⁦NotAracham⁩#0009> Yeah, it was essentially the spigot for venture capital money, and the instrument through which money moved back and forth in the tech sector. [00:11:20] <⁦LichMaster98⁩#5678> Until it wasn’t 🙂 [00:16:59] <⁦BWM⁩#6978, replying to ⁦Agent⁩#3928> i know several startups had a lot in SVB [00:17:02] <⁦BWM⁩#6978> this is freaky [00:17:31] <⁦BWM⁩#6978, replying to ⁦NotAracham⁩#0009> for some it isn’t sadly, how much money did people lose…. [00:19:45] <⁦NotAracham⁩#0009> Thankfully it looks like folks will get back more than the 250k, reading some other reporting those holding greater amounts of uncovered deposits were provided receiver's certificates. Essentially, IOUs that get paid back first if any value can be salvaged from the remnants and also serves as debt payable by the eventual buyer, if any. [00:20:50] <⁦NotAracham⁩#0009> Given the why for why the collapsed, good chance there will be plenty worth salvaging [00:22:23] <⁦NotAracham⁩#0009> Still, wildly, possibly endingly awful for those business that were holding their run-the-business cash on deposit there. [00:45:14] <⁦BWM⁩#6978, replying to ⁦NotAracham⁩#0009> this is the scariest part [00:45:21] <⁦BWM⁩#6978> i also just kind of feel bad for SVB tbh [00:45:32] <⁦BWM⁩#6978> they didn’t really do anything wrong or mismanage much [00:45:40] <⁦BWM⁩#6978> the market around them just gotfucked [00:45:53] <⁦BWM⁩#6978, replying to ⁦NotAracham⁩#0009> hoping so [00:46:42] <⁦BWM⁩#6978, replying to ⁦NotAracham⁩#0009> i….just feel bad [00:50:09] <⁦NotAracham⁩#0009, replying to ⁦BWM⁩#6978> [1/2] They made an oversized bet that in normal markets would have been poorly-advised but wouldn't have been a problem. [00:50:09] <⁦NotAracham⁩#0009, replying to ⁦BWM⁩#6978> [2/2] But the pandemic + fear and irrationality made those bets a menace, and weird activist investors made things even worse. [00:50:33] <⁦BWM⁩#6978> yeah i suppose [00:51:27] <⁦BWM⁩#6978, replying to ⁦NotAracham⁩#0009> just hoping that people get their money back [00:51:31] <⁦BWM⁩#6978> it’s a catastrophe [01:17:40] <⁦BWM⁩#6978> https://twitter.com/RepSwalwell/status/1634258231718494208?s=20 @NotAracham [01:17:40] [Twitter] Rep. Eric Swalwell (@RepSwalwell): I’m working with my CA colleagues to address the Silicon Valley Bank crisis. We must make sure all deposits exceeding the FDIC $250k limit are honored. Banking is about confidence. If depositors lose confidence on the safety of their deposits over 250k then we are in trouble. | 852 RTs | 6264 ♥s | Posted: 2023-03-10 - 18:21:40UTC [02:02:08] <⁦NotAracham⁩#0009> I'm curious what they plan to get through this congress, but I'm interested to see where they're planning to go with this. There's some routes that don't require a floor vote... [02:49:21] <⁦huhug⁩#2950> This year was the 12th year since the Tohoku Earthquake. [02:56:11] <⁦BWM⁩#6978, replying to ⁦NotAracham⁩#0009> not sure if an executive order can be drafted or if that’s overreach for this but it’s an option [03:47:51] <⁦BWM⁩#6978> interesting [03:48:03] <⁦BWM⁩#6978> something new just popped up [05:21:38] <⁦Colleiflower⁩#9284> [1/5] Hello everyone. This is Donald Trump. Hopefully your favorite President of all time. Better than Lincoln, better than Washington, with an important announcement to make. I'm doing my first Official Donald J. Trump NFT collection right here and right now. They're called Trump Digital Trading Cards. These cards feature some of the really incredible artwork pertaining to my [05:21:38] <⁦Colleiflower⁩#9284> [2/5] life and my career. It's been very exciting. You can collect your Trump Digital Cards just like a baseball card or other collectibles. Here's one of the best parts, each card comes with an automatic chance to win amazing prizes like dinner with me. I don't know if that's an amazing prize but it's what we have. Or golf with you and a group of your friends at one of my beau [05:21:38] <⁦Colleiflower⁩#9284> [3/5] tiful golf courses, and they are beautiful. I'm also doing Zoom calls, a one-on-one meeting, Autographing memorabilia and so much more. We're doing a lot. My Official Trump Digital Trading Cards are $99 which doesn't sound like very much for what you're getting. Buy one and you will join a very exclusive community. It's my community and I think it's something you're going [05:21:38] <⁦Colleiflower⁩#9284> [4/5] to like and you're going to like it a lot. They also make perfect gifts, so you can buy them with your credit card or crypto. All you need is an email address. Go to CollectTrumpCards .com and buy your Trump Digital Trading Cards right now before they are all gone and they will be gone. This is my first Official Trump Trading Card NFT collection and you get a chance to m [05:21:39] <⁦Colleiflower⁩#9284> [5/5] eet me. Go to CollectTrumpCards .com right now and remember Christmas is coming and this makes a great Christmas gift. (No purchase necessary. Void where prohibited.) [05:25:20] <⁦BWM⁩#6978> let’s not [05:25:27] <⁦BWM⁩#6978> i’m too exhausted to read all tjat [05:25:31] <⁦BWM⁩#6978> tl;dr [05:47:33] <⁦NotAracham⁩#0009> The og human was already plenty [05:53:25] <⁦BWM⁩#6978> yup [21:55:20] <⁦Colleiflower⁩#9284, replying to ⁦BWM⁩#6978> its the transcript of trump's NFT ad [22:30:15] <⁦Fiddlestix⁩#9401, replying to ⁦Colleiflower⁩#9284> quite an interesting thing [22:30:43] <⁦Colleiflower⁩#9284> lmao [22:30:44] <⁦Colleiflower⁩#9284> yes [22:31:56] <⁦Fiddlestix⁩#9401> "Hopefully your favorite President of all time. Better than Lincoln, better than Washington" lmaooo his ego [22:34:55] <⁦raidarr⁩#6550> oh yeah, better than washington [22:34:57] <⁦raidarr⁩#6550> what a joke [22:35:27] <⁦raidarr⁩#6550> and lincoln, heh, trump's more likely to cause what it would take a lincoln to fix