Tech businesses tend to have more direct access to information (e.g. Twitter, emails), and listen to VCs and investors.
Regular people and businesses don't hear about these things. Today, only 1 other person in my friend group of 6 heard about SVB.
Regular people and businesses don't hear about these things. Today, only 1 other person in my friend group of 6 heard about SVB.
Thiel tells his startups to bank-run SVB, and they bank-run SVB, and all the other VC start telling their firms to follow suit. It's all herd mentality among an undiversified group of customers (startups all of which are hit hard by raising interest rates), which is perfect for a bank run.
Really? My mom knew about it, and she's a retired teacher who doesn't live in the Bay Area.