SVB failed per newer article. FDIC in charge of it now.
Correct, the bigger companies got their money out, all the average depositors now have to wait to get their money assuming they will get anything.
Being that today is Friday, I would be willing to bet a good number of people will be wondering where their paychecks are.
Did Thiel tip it?
Probably not. Folks make fun of Silicon Valley start ups. Hose guys pay attention to the money. As soon as one of them got a whiff, it was off to the races. Phone calls and texts were sent. And that’s how runs start.
The average guy on the street is not paying attention. But, the money guys are.