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Goodgoditsgrowing t1_jclxfa5 wrote

You mean he had a bunch of money invested when he actively tried and succeeded in making SVB collapse by telling everyone he knew to withdraw all their deposits, creating a run on the bank, and making the bank go under.

He’s either an idiot who did his utmost to tank his own investment or he’s angling to buy up SVB for pennies on the dollar.

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downonthesecond t1_jco18xn wrote

Did Moody's downgrade of SVB Financial's credit rating have nothing to do with Thiel and others' decision to withdraw their money from SVB?

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engi_nerd t1_jcs4c3q wrote

It’s lost on them that Theil is more competent than the people running this bank. He made a smart business move because he was paying attention 🤷‍♂️

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nomadofwaves t1_jcni1jr wrote

It would make sense because in some loans SVB gets percentage stake in some start ups.

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