We live in a corporate feudal society.
We live in a corporate feudal society.
A good view of what actually happened with SVB
A good view of what actually happened with SVB
Journalists are idiots. Point-in-case:
If they’re viable, businesses could raise capital from the same venture capitalists who already funded them to fill the hole of what they’d lost at SVB.
Where TF do you think these VCs held their funds? Yep ... SVB. (Maybe ~1/4 of the VC money is offshore, but the bulk is in the US and the bulk of that was at SVB.)
I'm not a customer of SVB and I'm not in favor of bailouts, but I've got to point out that this basic premise is wrong:
Big Tech wins unfair advantage over American workers in SVB scandal
No. This is Small Tech vs. Big Tech.
A long term freeze of SVB funds would have gutted the entire VC / start-up world and would have resulted in 1000's of VCs and startups closing shop. Which would have resulted in the big tech firms gobbling up the startups for pennies on the dollar. Resulting in the big tech firms becoming even bigger and more powerful. (And, with fewer tech firms viable, this leads to fewer options for employment, which is bad for the tech workers.)
Arguing about bailouts is like teaching sex ed to a group of women who are all 8 months pregnant. Horse is out of the barn, so to speak.
There are good solutions to this, but the politicians (and their pay masters) aren't interested in solutions, just misdirection.
Journalists are idiots. Point-in-case:
> If they’re viable, businesses could raise capital from the same venture capitalists who already funded them to fill the hole of what they’d lost at SVB.
Where TF do you think these VCs held their funds? Yep ... SVB. (Maybe ~1/4 of the VC money is offshore, but the bulk is in the US and the bulk of that was at SVB.)
I'm not a customer of SVB and I'm not in favor of bailouts, but I've got to point out that this basic premise is wrong:
> Big Tech wins unfair advantage over American workers in SVB scandal
No. This is Small Tech vs. Big Tech.
A long term freeze of SVB funds would have gutted the entire VC / start-up world and would have resulted in 1000's of VCs and startups closing shop. Which would have resulted in the big tech firms gobbling up the startups for pennies on the dollar. Resulting in the big tech firms becoming even bigger and more powerful. (And, with fewer tech firms viable, this leads to fewer options for employment, which is bad for the tech workers.)
Arguing about bailouts is like teaching sex ed to a group of women who are all 8 months pregnant. Horse is out of the barn, so to speak.
There are good solutions to this, but the politicians (and their pay masters) aren't interested in solutions, just misdirection.
(post is archived)