Yeah but apparently SVB couldn’t sell their bonds yet because they’re worth less due to interest rates increasing so they were illiquid. They had the money it was just tied up in bonds.
Discussion
They had funds but thiel took out 16 billion which isnt a small sum. Idk they had no business serving a client like that at a regional level. He played the system of regional banks and how they create a competitive market to big banks. Not saying i care just they shouldve weighed their position more on taking him on as a client.
Have you seen the new Coffeezilla video? That’s where I’m getting most of my information.