What do you think about this one? https://www.barrons.com/articles/roku-losses-from-svb-failure-25f9d1b5 #SAVfailure #tech #recession
What other big names might be affected?
It seems that Shopify merchant payments went through SVB. (For transparency, I don’t work in that area of Shopify and have no idea about it internally but I saw people talking about it on Twitter).
Paywall
We’re fine, we got a bil and a half cash after this.
Which only translate to 12 month…. Y’all need to cut some people fast.
They’re going to get the money back. SVB has $209B in assets which is more than liabilities. Feds will sell that off and should be able to make everyone mostly whole, it’ll just take some time. Smaller companies and startups are really screwed though because they don’t have cash to cover themselves through the end of month
I believe it was because there was a run on the bank and they didn’t have enough liquidity to cover everything being taken out that day hence why the feds had to step in and shut them down to secure deposits otherwise they might’ve sold them for pennies on the dollar to cover themselves and stay in business screwing those who didn’t take their money out. The $200B in assets will take considerable time to unwind cant just do it over night
Why did Roku have $s in SVB? Would think that part of the scale up to IPO would have involved fixing this problem. Does Roku have a good finance function?
You’re gonna find out all the big players had a significant chunk of cash in SVB, Roku is just the first big company to report it
Why would any company hold more than 10 percent in one bank? Lazy asses
Yeah, put 2B in 8k banks. That is smart
Roku is fuc$ed up, I think more layoff coming wether accept it or not
Have an offer from Roku. Should I even consider given what happened?
Sooo…. Time to down size. Ya’ll want your old building back or what?