Silicon Valley Bank bought a bunch of US treasuries at 2% interest. The problem is those are locked up for 10 years and nobody anticipated on the Silicon Valley bank team that the rate hike would happen so quickly, so violently. They needed to sell these early and they sold them early and they took a massive loss billions of dollars. That's what lit the fuse. In the last 18 months, not enough folks read the memo.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode