Silicon Valley Bank Crash Explained - Why Some Hate Crybaby Capitalists
Valuetainment
Valuetainment Episodes
4.8 • 1.7K Ratings
🗓️ 23 March 2023
⏱️ 7 minutes
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Summary
In this episode, Patrick Bet-David breaks down the silicon valley bank collapse and explains why this collapse pissed off a lot of people. FaceTime or Ask Patrick any questions on https://minnect.com/ Recommended video: 10 Reasons To Love Capitalism: https://youtu.be/Al-B8ZMz4DM Subscribe to our channel: http://bit.ly/2aPEwD4 To reach the Valuetainment team, you can email: info@valuetainment.com
Transcript
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| 0:00.0 | Silicon Valley bank 16 biggest bank in America would over 200 billion dollars in assets goes belly up with people |
| 0:05.4 | Making a run on the bank. Everybody's panicking |
| 0:07.7 | What's gonna happen if this goes on to other banks? One side of the hour sin |
| 0:10.7 | We got to bail them out. We can't let them go now. These are billionaires. Oh, yeah |
| 0:13.8 | You want to have capitalism for the rest of us, but socialism for the rich. This is exactly why Bernie Sanders was right |
| 0:18.9 | They're doing the same thing they did to actually know. It's a very different. How is it different? Lots of questions |
| 0:22.8 | We're gonna cover all of that in today's show |
| 0:30.4 | So if you get value from the video give it a thumbs up and subscribe to the channel to fully understand what's going on with us |
| 0:37.9 | You have to put a different lens on to understand different people's perspective meaning when Benghazi happened most people have forgotten about Benghazi |
| 0:43.8 | The only people that are still thinking about Benghazi on a regular basis are those who lost a family member |
| 0:49.0 | One of the four family members are thinking about it till today |
| 0:51.1 | Why? Because it was a direct impact of pain to you Silicon Valley bank. There's different people there those who work for Silicon Valley as an employee |
| 1:00.0 | Well, they're gonna take a hit those who own shares in Silicon Valley bank. They were owners |
| 1:04.4 | They're gonna take a hit. There are those that have $20,000 or less with Silicon Valley bank |
| 1:08.7 | They'll be protected by FDIC |
| 1:09.9 | But then there is those that have over $250,000. They're not protected by the FDIC and then outside of that |
| 1:14.8 | You have those who have their business accounts with them that are trying to make payroll |
| 1:18.4 | They don't know how to make payroll next thing |
| 1:20.4 | You know all these employees at the startups are sitting there saying how am I gonna pay my salary and last but not least |
| 1:24.5 | They're outsiders me and you you ain't got shares |
| 1:27.2 | I ain't got shares if you don't we're kind of sitting here saying they should do this and they should do that |
| 1:31.0 | But you got to look at it from different people's list now having said that let's get right into it |
... |
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