SVB's risk management was terrible, Jamal says. They signed up for these long-dated securities when the market they serve is incredibly volatile,. Freiburg and Saks each share a bit of the blame here," he adds.
(0:00) Bestie intro!
(1:57) Overview of the SVB collapse and bank run
(17:53) Who or what is to blame? Debating venture debt
(37:11) Contagion risk, second- and third-order effects, government backstops
(1:00:36) What does this mean for the VC industry? Silicon Valley panic cycle, advice for founders