The difference with this bank run and say the 2008 financial crisis is that we have outsized powerful people with great influence who had a vested interest. And they were screaming on social media, which meant that they could fear longer. That created a lot of pressure on the government, more pressure than they already faced. Yes, but I don't think the government's paying attention to Twitter. It just creates a situation of contagion.
After a quick rundown of Kara’s Twitter feud with SVB-enthusiast David Sacks, we turn to an interview with a former Silicon Valley Bank customer: Kevin Systrom. When you found one of the most successful social media apps at 27, it’s tough to figure out where to go with Act Two. But after leaving Facebook (now Meta) in 2018, Systrom is back with an AI-powered news-reader called Artifact which has been dubbed a “Tiktok for Text.” Onstage at SXSW this weekend, as the SVB crisis was playing out, Kara and Kevin discuss his regrets about Instagram, his plans to crack the news business and what’s wrong with tech bros.
Questions? Comments? Email us at on@voxmedia.com or find us on Twitter @karaswisher and @nayeema
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