David Sacks

@DavidSacks ↗

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Last Checked April 3, 2023

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Tue Mar 14 21:03:17 +0000 2023

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David Sacks @DavidSacks

On Thursday morning, the financial press widely reported SVB’s need for new capital, and short sellers were all over the stock. The CEO’s disastrous “don’t panic” call later that morning only heightened fears and undermined confidence in the bank. https://t.co/7u0KDRbvdH — PolitiTweet.org

Posted March 14, 2023

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David Sacks @DavidSacks

The match was lit when SVB announced on Wednesday March 9 that it had sold substantially all of its available-for-sale securities and needed to raise fresh capital because of large unrealized losses from its mortgage bond portfolio. https://t.co/KBXOFp1q7A — PolitiTweet.org

Posted March 14, 2023

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David Sacks @DavidSacks

The idea that one needed “non-public information” to understand that SVB was at risk is drivel being peddled by populist demagogues. Any depositor who could read the WSJ or watch the stock ticker could understand that there was no upside in waiting to see what would happen next. — PolitiTweet.org

Posted March 14, 2023