The Founders Fund, It Looks Like He Got His Money Out

It's an open question right now whether there was an organized conspiracy by smart people to take advantage of this situation. I have no idea what A16Z or Sequoia or Peter Teal might have against this bank, but they didn't make themselves vulnerable. Why in the world would they invest their depositors excess money at a time when the bond market was uninvestable? That is malpractice in my mind.