IT.COM

news Banks tumble as Silicon Valley Bank ignites capitalization fears

Spaceship Spaceship
Watch

J.R.

Established Member
Impact
1,243

Michael Burry has been very good about predicting the worst points of a recession, and his warning about Silicon Valley Bank being the Enron of the 2022-2023 recession will probably be proven correct by the end of business day 10 March 2023.

Per Wikipedia: Silicon Valley Bank focuses on lending to technology companies, providing multiple services to venture capital, revenue-based financing and private equity firms that invest in technology and biotechnology, and also on private banking services for high-net-worth individuals, in its home market in Silicon Valley.

In addition to taking deposits and making loans, the bank operates venture capital and private equity divisions that sometimes invest in the firm's commercial banking clients.


From Reuters: "It just gets people freaked out because Silicon Valley, historically has been a very strong, well-run bank. If they're having issues right now, people are wondering what about other banks that are lesser quality and that don't have the reputation that Silicon Valley Bank has."

https://finance.yahoo.com/news/why-...attling-americas-biggest-banks-121159393.html

Already Peter Thiel and other Silicon Valley VC influencers are advising their clients to withdraw from SVB, thus the largest bank in Silicon Valley in terms of deposits, with a 25.9% market share and a go-to bank for new startups is in the middle of a bank run.

Like the FTX failure, the SVB bank failure will drag down the economy as we close Q1 2023.

Adjust your domain buying and selling strategy accordingly, as Q2 2023 will likely be the worst quarter since July 2022. This will directly impact startup prospects within the tech sector; which for me at least are among my most valued end users.

The U.S. economy has officially entered the worst phase of the 2022-2023 recession.
 
Last edited:
5
•••
The views expressed on this page by users and staff are their own, not those of NamePros.
fdic shutters SVB largest silicon valley bank 3-10-2023 .png


From Pitchbook: Founded in 1983, SVB has long been the bank of choice for VC firms and startups. The institution serviced nearly half of all VC-backed tech and life sciences companies last year.

Per Crunchbase News: SVB alone banks about half of all venture-backed startups in the U.S., as well as many of those companies’ investors.

Per Axios: SVB is a cornerstone of the tech and life sciences startup economy. It's also America's 16th largest bank, and its failure would be the biggest since Washington Mutual.

How many more bank runs will the USA financial sector see by the end of March 2023?

This will have a devastating impact on domain investing over the next 6-12 months.

Many startups that looked healthy just yesterday, are probably going belly up next quarter.
 
3
•••
0
•••
I was seeking financial support for one of my free energy project, they declined it, then I cursed them, now they are down, this will happen to everyone who ignored me, prepare to see the bottom Rick and others!
P.s. i have their email reply but it is marked as confidential, i would gladly share but can't.
 
0
•••
1
•••
3
•••
4
•••
Last edited:
2
•••
0
•••
with govt digi coins around corner wouldn't it be something if they did all this bank issues so people do bank runs and when that's done they go.digital and declare all fiat useless hahhahahah suckers
 
0
•••
Back