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4min chapter
E120: Banking crisis and the great VC reset
All-In with Chamath, Jason, Sacks & Friedberg
The Complex Relationship Between VCs and Silicon Valley Bank
Venture capitalists were given cheap, very cheap interest rate loans by Silicon Valley Bank. The same VCs would be directing their companies to put their deposits inside of SVV who would then take those deposits and buy risks. There was a little bit of people working in lockstep together and there was a lack of functional responsibility around how to be a true fiduciary.
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