Official thread

The Power of Panic

Silicon Valley Bank collapsed in 24 hours because their CEO made the wrong statement.

It literally went from totally solvent to bankrupt because of ONE SENTENCE he said:

"There's no problem unless everyone starts to PANIC."

That's like saying "Whatever you do, don't think of a pink elephant dancing in the rain with a big yellow umbrella on its head."

SVB was one of the good guys. And they got annihilated because their CEO sucks at SALES. 😢

-SM

🎤 Sahil

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CadenceCombat

Tycoon

Account Executive

Certainly, that line was a misstep but, I mean, come on… They were over leveraged, made a terrible bet and we’re all going to be left holding the bag, as per usual.

It’s amazing to me how many people in the BANKING industry couldn’t predict rates going up when they were at an all time low for so long and the writing was on the wall that this was coming…

Maybe there’s something I’m missing but it’s not about being ‘one of the good ones’, it’s about needing to reinstate the regulations that put more safeguards in place to make sure that the “smartest people in the room” can’t be emboldened to further privatize profits via public losses.

As long as the financial system allows this to happen, it will happen.

Maybe I’m just a simpleton but I share Corp’s outrage calling out Tech for being a joke right now.

CuriousFox

WR Officer

🦊

Definitely going to be interesting to see what happens tomorrow.

DungeonsNDemos

Big Shot

Rolling 20's all day

Monday will be interesting to say the least

Maximas

Tycoon

Senior Sales Executive

I agree.

But how about people any chance they would get their money back?

TennisandSales

Politicker

Head Of Sales

i saw one of your other posts on Linked In about how FDIC insurance is a main problem here and how if companies cant trust that their payroll is secure, the EVERYTHING we know falls apart.

This makes sense to me, but i feel like you starting getting the government involved and alot of ppl hate that shit.

is there some way to allow businesses to proceed with some sense of security that doesnt give more control to the government?

GingerBarbarian

Opinionated

Lead Sales

Saying it was just the one sentence is a bit of an oversimplification. They took a nearly $2 billion loss on treasury binds. That alone points to significant mismanagement.

Gasty

Notable Contributor

War Room Community Manager

Wasn’t that like 1% of their AUM?

GingerBarbarian

Opinionated

Lead Sales

I am sure you saw this yesterday, but I loved this breakdown.

Pachacuti

Politicker

They call me Daddy, Sales Daddy

Did the CEO suck because he was right, or was he right because he sucked at his job?

GDO

Politicker

BDM

I love this example of the wrong sentence :)

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The Power of Panic

10 comments

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