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wackawacka

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Everything posted by wackawacka

  1. On a client briefing call with a major bank (e.g., JP, GS), they are ripping SVB.
  2. People keep shitting on Thiel (founders fund) but there was a number of VC funds that pulled all their money and told all their PortCo to do the same. (YC, Coatue, Union Square to name a few...)
  3. Most of the deposits is VC money....
  4. No-CR: There is no political appetite for bail-outs
  5. https://www.ft.com/content/ebba73d9-d319-4634-aa09-bbf09ee4a03b
  6. This wasn't to save SVB but the potential run on regional banks that were expecting huge outflows Monday AM. Lots of noise from law firms and large banks on safety of regionals to FDIC had to do something to stop the Lehman moment.
  7. While I am not concerned about depositors mostly if not full whole, this is the short-term issue. Loan docs from VCs are circulating to fund payroll in many circles to help with short-term issue but that assumes you are on good terms with your VC or they are vultures when many are.
  8. I would expect 2 or 3 regional banks to also fail after this...all near to SVB customer base.
  9. Lulz Crytpo being taken down another notch by a bank failure.
  10. - FT Not sure why people are advocating for bail out unless they were caught on the wrong side the trade.
  11. The floor has been set per Bloomberg
  12. City hasn't bounced back. I usually feel a vibe shift when this comes to town. The city actually feels more dead than usual
  13. Venture analysis: ~67% of deposits easily covered 30% hard to market loans would need to be a haircut of 5%-10% for the deposits to be under water Most expect worse case that deposits take max 10% haircut but believe if not rapid sell off of loan portfolio then deposits will be made 100% whole. Issue is more timing of selling HTM loan portfolio
  14. a lot of start-up CFO or head of finance (my peer group) have no business being in that role. SF / bay area over indexes on right school and background vs who should be in the role. not enough gray hairs in the c-suite of many of these companies.
  15. they are still available Part of SVB requirements for their lending and debt facilities is placing majority of your deposits with them. While it was "cheap" money if you had VC backing, it required you to mostly bank solely with them.
  16. there is no buyer. pure piece meal asset sale. it is a shit show
  17. Bigger issue now talking with fellow CFOs is payroll processing and vendors (e.g., Rippling) use SVB.
  18. WHO IS SAYING CHASE SUCKS NOW!?! We bank with Chase so happy days for me
  19. I have a mix of herbs and random vegetables that I planted last weekend as seeds. I do the spray and pray method but already seeing small sprouts through the dirt.
  20. I expect this year to be flat or down but still piling all my extra cash into the market. YOLO!
  21. Lulz blaming regulators on crypto going down the toilet. The ponzi scheme unravels and people are crying because regulators didn't step in sooner and because they are stepping in to stop further frauds.
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