This link may;may not open for you if you’re not on Twitter tonight.
The really good argument going on here is that this bank run at Silicon Valley Bank $SIVB was caused by the Silicon Valley Bros (the VCs) going on national TV and telling their friends to pull out their money.
Cohodes says don’t reward any of these VCs, especially Peter Thiel. who thinks orchestrated this bank run.
He thinks we are rewarding bad risks taken by Silicon Valley Bros scraping their riches from Zombie Banks, Zombie Companies, Zombie Crypto Scams, etc.
Cohodes just said Silverbank is worthless.
Said he believes someone will buy Silicon Valley Bank because it has 2500 corporate accounts, the franchise, he believes, could be bought for .50 cents a share by say Jamie Dimon (if the FDIC were to agree).
The arguments were pro/con if Peter Thiel caused the bank run at Silicon Valley run on Friday, and both sides scored good points.
But to a person, Peter Thiel will be investigated - with other Silicon Valley Bros - if he shorted $SIVB by purchasing puts. Imagine if he did. Imagine if $SIVB opens at .50 cents per share on Monday.
Supposedly this podcast is now over 12 hours long on twitter. That shows you how seriously worried Silicon Valley is here.
When I first started listening, everyone was deferring to Cohodes.
There’s this guy who just read a Powell decision in 1991 when Bank of New England had a run. Powell’s paper explained that there was no doubt the Fed would bail out the FDIC.
I just heard that Musk Bro Jason Calcanis predicts runs at regional banks all over America this coming Monday.
Cohodes left the interview. Many of these VCs are trying to bully this woman, Kat, and she’s cutting them to shreds.
If Thiel, Calcanis, Chamath, any of the Usual Suspects shorted banks last Friday after Thiel tips off each and every VC in SV, yeah, there’s gonna be some big fireworks in the future.
The SEC San Francisco had better have called in every single employee for work this weekend. This is going to grow in panic is the Silicon Valley Bros get facetime on all the Sunday TV News shows.
Wow, these VCs really think this Monday could be apocalyptic. These folks are on highest alert, red flags flying, hyperventilating about $FRC $FHN $SI $SIVB, and that bank runs will happen.
One VC said 100,000 will run to their regional bank for withdrawals.
Another predicted 500,000 will take part in Monday runs.
These young companies dependent on credit facilities are going to be in trouble. A half-dozen of these VCs are agreeing on this.
This guy, David Sacks, was on the podcast earlier predicting America is going to be left behind if his buddies aren’t bailed out. He predicts America will lose its tech edge if we don’t have giant bailouts for SV now. (Guess how he makes a living? Of course, he’s a VC investing in worthless companies built on undermining Unions, breaking labor laws, working to hide investments in dozens of overseas LLCs which works as trading houses for shady crypto shenanigans.
Yeah, the hypocrisy meter just pegged red again.
Sic Semper Libertarianus Sociopathus (I hated Latin beat into me by Benedictine Monks, but you can catch my drift if you know the Virginia State Flag.)
This image is becoming a staple on these posts about all these scam greed hounds pretending to be Capitalists.
I forgot to mention this weasel is also one-fourth of the All In Podcast which deifies and runs hot, hot, hot for dear old Musk who is like Lord of the Universe to these lapdogs on that podcast. That’s all you need to know. Another freaking Galt’s Gulch hypocrite.