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Sam Altman on SVB

4 pointsby TimCTRLabout 2 years ago

1 comment

breckabout 2 years ago
Asking for a bailout for the 1% is pathetic.<p>&gt; the government has a role to protect depositors, and we should all want this certainty.<p>Yes, and the government DOES protect depositors and is 100% clear about it--up to $250K, which covers 95-99% of Americans. It could not have been clearer that amounts over $250K were uninsured. A seven year old can understand this.<p>Everyone with more than $250K should take a haircut if there are not enough funds to go around. The government should NOT bail out the 1%.<p>This affects my portfolio companies. They will survive, tougher.<p>The lack of integrity shown by some in the VC class is pretty revealing.<p>Sadly I bet they will get their bailout. You get a sense that their secret private message groups are becoming more organized.<p>Anyone calling for a bailout of depositors with over $250K should be ashamed. At the very least, publish your dataset of all your positions. You want the public&#x27;s help, time to make yourself more public.
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