David Sacks

@DavidSacks ↗

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Last Checked April 3, 2023

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Tue Mar 14 21:19:49 +0000 2023

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David Sacks @DavidSacks

(Perhaps this is why SVB had an “A” rating from Moodys and had passed all of its regulatory exams.) — PolitiTweet.org

Posted March 14, 2023

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David Sacks @DavidSacks

But it’s important to understand that SVB’s failure didn’t arise from risky startups doing risky startup things. It arose from SVB’s over-exposure to boring old mortgage bonds, which were considered safe at the time SVB bought them. — PolitiTweet.org

Posted March 14, 2023

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David Sacks @DavidSacks

What turned the mortgage bonds toxic? The most rapid rate-tightening cycle we’ve seen in decades. You can see the connection here between rapid rate hikes and unrealized losses in the banking system. https://t.co/cjcx5CnkYI — PolitiTweet.org

Posted March 14, 2023