Uday's avatar
$95.1m follower assets
Not so smart
Its been a whorlwind of a week. Regional banks in the U.S got sold off due to fear of contagion, First Republic had to be backstopped by the large banks, The Treasury and the Fed had to step in, Credit Suisse had to be given a lifeline by the Swiss Central bank. Memories of 2008 came sprinting back to a lot of people. Fair to say, its easy and natural to lose your sense of reason and calm under duress.

You would expect the "smartest people in the room" to display a bit of maturity given the experience and their stature. Instead, you saw some of the worst takes in the world from the VC crowd and the people in tech, going to show how ignorant and inept they were. Some of these takes fanned a lot of flames amongst people who do not understand the situation as well and have lesser knowledge of finance and banks. Blatantly irresponsible from the "fiduciaries of the startup world" causing a massive unrest on social media. About time they took a finance 101 course before causing a panic.

Some of the actions they took actually might have been the real triggers of what unfolded after. But they blame the Fed and the government. They're blaming the stimulus checks! (something that they made millions off of). It disgusts me.
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