Silicon Valley Bank unmasks the hypocrisy of libertarian tech bros
You know what I hate the most in all of it ?<p>There was no panic to begin with - in the worst case scenario, the cut for depositors was definitely less than 10%, most probably 0.<p>The Jason Calacanis, David Sacks &amp; co, decided that even that small % of losses were enough to start a bank run in order to get government involved - and make sure they are made whole.<p>Stress on &#x27;THEY&#x27;. Just look at their recent tweets - did Mark Cuban said today that unlimited FDIC is a very bad thing - should &#x27;Never&#x27; be a thing ? Amazing stuff. (edit: Here is the link =&gt; <a href="https:&#x2F;&#x2F;twitter.com&#x2F;mcuban&#x2F;status&#x2F;1635282882259476486?s=20" rel="nofollow">https:&#x2F;&#x2F;twitter.com&#x2F;mcuban&#x2F;status&#x2F;1635282882259476486?s=20</a> )<p>Make no mistake - the 3 banks in trouble (there will be more. Once the fire is lit, it&#x27;s hard to stop it) were extremely specific and were crypto &#x2F; VCs banks. It&#x27;s not random banks that failed. They failed specifically because of business they were servicing.