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 & 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 'THEY'. Just look at their recent tweets - did Mark Cuban said today that unlimited FDIC is a very bad thing - should 'Never' be a thing ? Amazing stuff. (edit: Here is the link => <a href="https://twitter.com/mcuban/status/1635282882259476486?s=20" rel="nofollow">https://twitter.com/mcuban/status/1635282882259476486?s=20</a> )<p>Make no mistake - the 3 banks in trouble (there will be more. Once the fire is lit, it's hard to stop it) were extremely specific and were crypto / VCs banks. It's not random banks that failed. They failed specifically because of business they were servicing.