And did this just 3 days before the bank collapsed. Experts rule!
Seems likely that SVB will be declared “Too big to fail” and taxpayers will bailout the bankers and the not very bright tech CEOs who put all of their cash in one bank, at the direction of the not very bright VCs that ordered them to do so.
SVB’s collapse has the potential to gut the tech sector in multiple countries – plus, in the U.S., these tech folks likely made significant political contributions to the right party officials. They will be bailed out soon enough.
