Kolek planning to go pro
Can't believe the scoop mods haven't tried this to raise funds for scoop. Picturing several scoop action figure NFT's.
Muggsy's needs a random question voice chip.
On man, just picture Topper looming over a keyboard, in mid-swing with a giant banhammer.
I have a mental picture of a variation of the GEICO 'Aunts' commercial. Only instead if 'expired', we get the mods saying 'banned'.
BTW, what's up with GEICO recycling a bunch of ads from a few years ago?
Muggsy the Miniature Manatee
With Silicon Valley Credit Union going belly up, it is going to be an interesting start to the week everywhere.
I know it is. Forgive me. I was engaging in snark due to the insular nature of the bank and its clients.
As a multi-time client of SVB I can expand on this to counter your snark a little. SVB caters to a set of clients that other banks struggle to work with. Most banks aren't super helpful when you have a $20MM-$200MM deposit coming in and need it deployed somewhere while you draw down over the next 2-3 years. SVB is pretty great to work with on the startup/VC side of things. They also royally effed up.I get that not many people have the same problems that VC-backed startups and VC funds have, but SVB served an otherwise underserved market. Another FI needs to step up to fill that gap.
Talking to my friend who is director in essentially competitor intel and research for a large FI, I found it interesting that SVB’s biggest competitor was Chase. But also speaks to the lack of comparable offerings in the space
Yeah it's odd. You'd think the major banks would fight over holding that much cash. SVB operated a little like a neo-bank though, which the big banks can't figure out how to do. My better half works at an FI with >1T under management and they move as slow as molasses. I'm surprised the big boys haven't just acquired a neo-bank instead of rolling their own.My guess is that SVB operates more like a consumer bank and most of the big boys are moving away from retail and moving towards the wealth/govt side of the market which is more stable. Big opp here for the neo-banks to go after retail and SMBs.
Buy something worthless, get something worthless.
*pokes bear*
Bored Apes down 90%, get'em while you can.