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PIZZA.BAT posted:not really, no come on. youve been posting for 10 years in anticipation of this exact moment
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Mar 17, 2023 15:57
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oh the tech bubble finally imploding hell yeah that’s great. kind of sucks because a lot of us have either been directly or indirectly benefitting from the absurd money flowing in but this had to happen eventually. i’m glad these garbage startups with no actual model or use to society are finally going to be swept up the whole bank contagion part means there will probably a lot of collateral damage as well which isn’t as fun. though i guess in hindsight of course there would be collateral damage
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Mar 17, 2023 16:16
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the surgical excision of the tech lesion
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Mar 17, 2023 16:18
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I am genuinely curious if any of the senior decision makers at svb will face any actual consequences since basically the only people harmed by this were its investors and they're the ones with some pull
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Mar 17, 2023 16:35
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no, because if they start punishing each others for their gently caress ups that’s a slippery slope for them.
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Mar 17, 2023 16:38
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raminasi posted:if your problem is that the c-suite isn't being sufficiently punished, then how does screwing over uninsured depositors help? you think they don't care about shareholders, what makes you think they care about uninsured depositors? i am not saying they should screw over uninsured depositors
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Mar 17, 2023 16:38
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just to be clear, uninsured depositors are those depositors with more than 250k in their account which isn’t a lot for a corporation, but…
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Mar 17, 2023 16:43
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FrozenVent posted:just to be clear, uninsured depositors are those depositors with more than 250k in their account it means they dont make payroll lol
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Mar 17, 2023 17:04
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qirex posted:I am genuinely curious if any of the senior decision makers at svb will face any actual consequences since basically the only people harmed by this were its investors and they're the ones with some pull even if they get pushed out, they'll be able to enter some vc hut at the highest level or they'll hit those guys up for some money and start some new scammy fintech in the "regulatory arbitrage" space imagine the insufferable corporate intro video: "as head of risk at svb, i experienced first hand how hard it can be to make sure your startup has access to next months payroll. with our new service paychq, we help you allocate..."
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Mar 17, 2023 17:19
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Beeftweeter posted:i am not saying they should screw over uninsured depositors then what are you objecting to? Beeftweeter posted:that doesn't matter. they are saying "everyone who deposits at SVB is fully insured up to any amount, which you will not get at another bank" "consequences" here is the potential for normally uninsured depositors to lose their money, and you seem to take issue with preventing that raminasi fucked around with this message at 17:26 on Mar 17, 2023 |
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Mar 17, 2023 17:24
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qirex posted:I am genuinely curious if any of the senior decision makers at svb will face any actual consequences since basically the only people harmed by this were its investors and they're the ones with some pull i mean the ceo already got away with it once before hopping over to svb so...
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Mar 17, 2023 17:33
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PIZZA.BAT posted:i mean the ceo already got away with it once before hopping over to svb so... maybe he won't get invited to the good parties anymore? that's probably the actual worst thing that can happen to folks like that
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Mar 17, 2023 17:36
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raminasi posted:then what are you objecting to? no. you said: raminasi posted:what should she do instead? if she says "everyone's insured" then bankers will do even more coke and gamble even more with depositor money. if she says "only these specific banks are insured" then it will trigger runs on all the other ones. "you might or might not be insured, if you don't wanna find out then don't gently caress around" doesn't seem like the worst middle ground. to which i showed you they are doing exactly that. you identified the problem all on your own: they are literally encouraging people to pull out the deposits in a volume that had already made one bank (their own) collapse
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Mar 17, 2023 18:30
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how did this conversation get dumber than it was a week ago when this was breaking news?
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Mar 17, 2023 18:47
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infernal machines posted:how did this conversation get dumber than it was a week ago when this was breaking news?
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Mar 17, 2023 18:51
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FMguru posted:yospos, bhitc!
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Mar 17, 2023 19:00
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EricBauman posted:enter some vc hut i read that wrong
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Mar 17, 2023 19:14
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FMguru posted:yospos, bhitc!
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Mar 17, 2023 19:14
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qirex posted:basically the only people harmed by this were its investors and they're the ones with some pull My wife’s employer had half their revenue from working with SVB. That’s about 70 families that are worried about paying their bills right now. Plus the several thousand employees of SVB who don’t know where their paychecks are coming from when their temporary employment ends. There is plenty of the usual kind of harm when a business goes belly up.
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Mar 18, 2023 05:45
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wins32767 posted:My wife’s employer had half their revenue from working with SVB. That’s about 70 families that are worried about paying their bills right now. Plus the several thousand employees of SVB who don’t know where their paychecks are coming from when their temporary employment ends. drat that sucks fr fr, but also this is the thread that has been wishing for literally this exact thing to happen for a decade plus so 
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Mar 18, 2023 06:17
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wins32767 posted:My wife’s employer had half their revenue from working with SVB. That’s about 70 families that are worried about paying their bills right now. Plus the several thousand employees of SVB who don’t know where their paychecks are coming from when their temporary employment ends. why are they worried about paying their bills? depositors are not impacted by this and they can access funds as normal similarly there are several goons working at SVB right now that post in cspam. salaried workiers are making 1.5x what they were and hourlies are making 2x. their paychecks are coming from "svb bridge bank, n.a."
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Mar 18, 2023 06:21
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Beeftweeter posted:why are they worried about paying their bills? depositors are not impacted by this and they can access funds as normal i think hes saying that svb was a large customer of his wife's employer.
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Mar 18, 2023 06:50
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well ok, but are they not still?
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Mar 18, 2023 07:04
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Beeftweeter posted:why are they worried about paying their bills? depositors are not impacted by this and they can access funds as normal My wife’s company had a contract with SVB that no longer exists. The FDIC is keeping some of their folks on as “essential contractors” but not everyone and they haven’t gotten any clarity about how long that will last. My wife has been working 14 hour days since this went down trying to find some other deals to plug the huge revenue hole. And all those SVB folks are getting paid right now, but the way this ends is for an acquisition to happen and that’s going to mean a big layoff. That’s why they’re getting paid so much.
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Mar 18, 2023 07:05
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wins32767 posted:My wife’s company had a contract with SVB that no longer exists. The FDIC is keeping some of their folks on as “essential contractors” but not everyone and they haven’t gotten any clarity about how long that will last. My wife has been working 14 hour days since this went down trying to find some other deals to plug the huge revenue hole. i see. i really do appreciate the explanation, i wasn't trying to be argumentative and figured it was operating as normal (because that's essentially what the cspam folks say) that does suck. if it's any consolation i also think an eventual acquisition is likely, the FDIC is not in the business of running banks. rumor is that BoA is going to take over signature bank which was apparently in much worse shape e: which of course does not help immediately, but it's possible the contract could be renewed once one happens Beeftweeter fucked around with this message at 07:18 on Mar 18, 2023 |
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Mar 18, 2023 07:15
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Beeftweeter posted:i see. i really do appreciate the explanation, i wasn't trying to be argumentative and figured it was operating as normal (because that's essentially what the cspam folks say) No worries, just been a stressful week in casa del 32767 and I’m a bit touchy about the whole thing.
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Mar 18, 2023 07:26
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https://arstechnica.com/gadgets/2023/03/employees-say-google-is-botching-those-12000-layoffs/quote:Current and former employees feel Google is being cruel in how it's treating employees who were on medical or parental leave during the layoffs. CNBC reports that Google has decided to not honor pre-approved leave for laid-off employees. Some Googlers formed a group called "Laid off on Leave," which is attempting to get Google to honor its previously agreed-to timelines for employees going through major life changes. whoa, a large company not honoring its agreements?????
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Mar 19, 2023 01:24
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wow, i bet you can save a lot of money by just laying off everyone on disability and personal leave i can't believe google is the first company to discover this who says google doesn't innovate?
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Mar 19, 2023 01:27
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bob dobbs is dead posted:there needs to be a way to become more short on housing than the default way of consuming housing I agree, further financializing the housing market can only lead to good things.
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Mar 19, 2023 01:47
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remember around 2008ish people just wanted to hand control of the country over to google lol, lmao
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Mar 19, 2023 01:59
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Beeftweeter posted:remember around 2008ish people just wanted to hand control of the country over to google instead, they turned over to the 'star' of the apprentice a mere eight years later
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Mar 19, 2023 02:10
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Beeftweeter posted:remember around 2008ish people just wanted to hand control of the country over to google Even knowing that I must have been excited when I first started using the google search engine, signed up for gmail, and started using chrome the idea of anyone having any faith in google seems almost incomprehensible at this point mystes fucked around with this message at 02:35 on Mar 19, 2023 |
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Mar 19, 2023 02:33
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you forget how bad pre-google search was it became one of the most trusted sites on the internet very, very fast
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Mar 19, 2023 02:56
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the goog still has a 70%something approval rating among normal peeps
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Mar 19, 2023 03:31
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haveblue posted:you forget how bad pre-google search was i remember using altavista for a while and then google coming out of nowhere and just smoking them on results
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Mar 19, 2023 03:33
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the normal state of affairs was to attempt your search query on all of your favorite search engines and your list of favorite search engines changed week to week google went from one of the search engines you use to the only search engine you use almost overnight
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Mar 19, 2023 03:36
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mystes posted:I don't even remember that but 2008 also feels like it was approximately 500 years ago they did have some pretty good stuff from like, idk, 2001-9ish. it wasn't really as ridiculous as it sounds now, they were still competent back then
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Mar 19, 2023 03:40
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you can never have permanently good software, because if software is too good and too useful you end up paying the software peeps millions of bucks and they gently caress off and sip mai tais on a beach somewhere which is what happened to goog peeps 2000-2008.
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Mar 19, 2023 03:41
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bob dobbs is dead posted:the goog still has a 70%something approval rating among normal peeps for real? i thought the public shine had worn off of google long ago. maybe it's just my fellow computer-touching cynics then
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Mar 19, 2023 04:07
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it kinda goes to poo poo if you ask about big tech tho, iirc. simpsons paradox strikes again
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Mar 19, 2023 04:10
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