Is This a Bank Run by Idiots?

Adam Sobel: Silicon Valley bank's failure about the bank's own mismanagement or Fed's interest rate hikes. But he says it was a bank run by depositors, who were themselves under influence of venture capital influencers in Silicon Valley. "It's almost as though you're running a bank with the deposits from a flighty, skittish, somewhat bitchy high school playground," said Sobel. 'And they didn't hedge it'