I'm worried is this would have a ripple effect on tech stocks starting Monday morning. https://unusualwhales.com/news/nearly-half-of-all-us-venture-capital-backed-startups-were-involved-with-silicon-valley-bank #tech
IPO'd companies aren't really startups anymore so I am not sure many of them would still bank with svb & be directly impacted. But yea tech and banking stocks are probably gonna be in for a rough few days/weeks anyway
If only they hired someone capable instead of a diversity hire as head of risk management. Now they are diversely f’ed.
There are only 2 genders. Repeat after me. Hire based on skills and nothing else. Repeat after me.
@meh In a lot of people’s minds, there are definitely more than two genders. Any gender that is not identified with male and He/him falls under diversity hire category. In SVB case, the chief risk officer indeed f’ed up the company with poor risk management skills.
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I hope this will be a wake up call for Powell that he is suffocating and killing American businesses with interest rates.
I can bet JP will not change course and the interest rates will continue to increase
I mean, he’s not really killing American businesses per se, just a subset of dumb Stanford grads who got drunk on free money Your neighborhood laundromat will be just fine.