Everything posted by wackawacka
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2023 bank failures
it changed the threshold from $50b in assets to $250b this was predictable and comical how the regulators have backed themselves into this corner.
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More Students Are Turning Away From College and Toward Apprenticeships
Pointless degrees are finally going away. https://www.wsj.com/articles/more-students-are-turning-away-from-college-and-toward-apprenticeships-15f3a05d
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So uh..Austin Subway*, Light Rail Expansions and $3.2 - $10.2 Billion
I grew up in Houston! You can encourage population density and reverse urban sprawl. It just requires zoning and regulation which I know is heresy in Texas
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So uh..Austin Subway*, Light Rail Expansions and $3.2 - $10.2 Billion
it needs to have the reach to support local commuters. the issue is how it is sold as likely won't pay dividends for decades as the light rail in houston doesn't actually go anywhere. the problem with most of these plans is longer-term investment so usable for local commuters. if you showed that total cost, it would never pass. it is clear that more roads aren't the answer but politics won't allow for the investment needed for large scale public transit. we should increase gas tax and use that to fund public transit. look at any tier 1 city and notice all the places people want to live or visit has a huge network of public transit. the us has way under invested in that which results in shit hole cities like Houston and LA.
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So uh..Austin Subway*, Light Rail Expansions and $3.2 - $10.2 Billion
mass transit is a public good - it doesn't have to make economic sense. i rather burn tax dollars than have our city look like the katy freeway More lanes = more demand and same level of congestion. only way cities can solve traffic is investing in public transit.
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2023 bank failures
- 2023 bank failures
On a client briefing call with a major bank (e.g., JP, GS), they are ripping SVB.- 2023 bank failures
People keep shitting on Thiel (founders fund) but there was a number of VC funds that pulled all their money and told all their PortCo to do the same. (YC, Coatue, Union Square to name a few...)- 2023 bank failures
Most of the deposits is VC money....- 2023 bank failures
No-CR: There is no political appetite for bail-outs- 2023 bank failures
https://www.ft.com/content/ebba73d9-d319-4634-aa09-bbf09ee4a03b- 2023 bank failures
This wasn't to save SVB but the potential run on regional banks that were expecting huge outflows Monday AM. Lots of noise from law firms and large banks on safety of regionals to FDIC had to do something to stop the Lehman moment.- 2023 bank failures
- 2023 bank failures
- 2023 bank failures
While I am not concerned about depositors mostly if not full whole, this is the short-term issue. Loan docs from VCs are circulating to fund payroll in many circles to help with short-term issue but that assumes you are on good terms with your VC or they are vultures when many are.- Markets still falling like whoa
I would expect 2 or 3 regional banks to also fail after this...all near to SVB customer base.- Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
Lulz Crytpo being taken down another notch by a bank failure.- 2023 bank failures
- FT Not sure why people are advocating for bail out unless they were caught on the wrong side the trade.- 2023 bank failures
The floor has been set per Bloomberg- The barely too Early 2023 SXSW band, venue, RSVP suggestion thread!
City hasn't bounced back. I usually feel a vibe shift when this comes to town. The city actually feels more dead than usual- 2023 bank failures
Venture analysis: ~67% of deposits easily covered 30% hard to market loans would need to be a haircut of 5%-10% for the deposits to be under water Most expect worse case that deposits take max 10% haircut but believe if not rapid sell off of loan portfolio then deposits will be made 100% whole. Issue is more timing of selling HTM loan portfolio- Markets still falling like whoa
This isn't true.- 2023 bank failures
a lot of start-up CFO or head of finance (my peer group) have no business being in that role. SF / bay area over indexes on right school and background vs who should be in the role. not enough gray hairs in the c-suite of many of these companies.- 2023 bank failures
they are still available Part of SVB requirements for their lending and debt facilities is placing majority of your deposits with them. While it was "cheap" money if you had VC backing, it required you to mostly bank solely with them.- Markets still falling like whoa
there is no buyer. pure piece meal asset sale. it is a shit show - 2023 bank failures
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