No losses will be borne by the taxpayers. Instead, the money will come from fees that banks pay into the deposit insurance fund. If the bank is taken over by FDIC, the people running the bank should not work there anymore. Third, investors in the banks will not be protected. They knowingly took a risk and when the risk didn't pay off, investors lose their money. That's how capitalism works. And fourth, there are important questions of how these banks got into the circumstance in the first place.
Jason kicks off Monday by recapping this weekend’s chaos caused by the collapse of Silicon Valley Bank (1:45). Then, he advises founders on preventing a scare like this from happening again before interviewing Andrew R McHugh of Wist Labs, who is building a platform to capture and relive memories in AR and VR (13:40).
(0:00) Jason kicks off the show
(1:45) The past weekend’s chaos and triaging startups
(12:18) Pilot - Get 20% off the first 6 months at https://pilot.com/twist
(13:40) The government’s response and advice for founders
(24:12) LinkedIn Marketing - Get a $100 LinkedIn ad credit at https://linkedin.com/thisweekinstartups
(25:39) Andrew R McHugh of Wist Labs
(37:28) Brilliant.org - Get 20% off an annual subscription at http://brilliant.org/twist
(38:56) Reliving past experiences and Generative AI applications
(57:00) Raising capital in the weeks to come
FOLLOW Andrew: https://twitter.com/armthethinker
FOLLOW Jason: https://linktr.ee/calacanis
Check out Founder University the podcast at https://www.founder.university/podcast