Now, many of those same Tech titans practically beg for public assistance to bail out their investments and deposits as banks flail because of the runaway inflation created by their chosen man.
Specifically, venture capital firms clamor for guarantees from regular taxpayers to cover the losses - or potential losses - of their favored banks.
For years, these venture capital firms have successfully projected a public image of daring dreamers who provide the investment jet fuel to propel American innovation.
Even worse, now that these venture firms and their connected companies feel the full wrath of Biden's economic failures, the industry clamors for bailouts from regular Americans.
As the FT recently observed: "The venture capital index looks roughly like the average of the last five quarters of the public market benchmark." Given the outsize risks of VC, this lack of longer-term outperformance is damning.
Should a working single mom waitress in the California Central Valley guarantee the commercial account of a venture firm at Silicon Valley Bank?
The Beverly Hills bank lost nearly $7 Billion in deposits in recent weeks - with 72% of the withdrawals emanating from venture firms.
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