Today we're going to talk about the situation with

S. V. which is Silicon Valley Bank. They have just gone bankrupt as of this

recording today, so this is almost like an emergency podcast. And we're

going to talk about some high level around it first and what we believe will actually happen with the US government stepping in.

So, Neil, you want to add some context?

First off, I don't think they went bankrupt, the government more so it just shut them down.

So there was no quote-unquote a fair. bankrupt, the government more so just shut them down.

So there was no quote unquote official bankruptcy or anything like that.

But same kind of result.

Depends, bankruptcy proceedings are very, very different.

You know, right now what ended up happening is Silicon Valley Bank,

I believe had some investments in some bonds or something like that, went bad, or they're pretty

much lacking like I think what $2 billion and then they were going to raise 500 from General

Atlantic 1.5 from someone else or somewhere around there. But nonetheless,

none of that stuff really matters. What really matters is everyone started pulling out

their money from Silicon Valley Bank. VCs, everyone just said, take your money out of Silicon Valley Bank and it's really hurt them

so much so that the government just stepped in and shut down their operations and the

FDIC is there to protect insured depositors but the FDIC only protects

250,000.

And my prediction is the government will hold people up

on everything they had in their accounts.

Because think about it this way.

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