Equity The one where Alex and Natasha catch the Equity audience up on SVB
Mar 13, 2023
Alex and Natasha tackle the recent chaos surrounding the Silicon Valley Bank crisis. They discuss the unpredictable stock market dynamics and the surprising resilience of crypto assets. Major developments include Qualtrics' massive $12.5 billion deal and Rivian's partnership with Amazon. The duo dives into the turmoil affecting startups and the broader banking sector, highlighting the risks of uninsured deposits and rising tensions in venture capital. Despite the downturn, there's a glimmer of hope for the tech community as they navigate these challenging times.
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Market Reactions to SVB Crisis
- The U.S. stock market reacted counterintuitively to the SVB crisis, rising on bets that the Federal Reserve would slow interest rate hikes.
- Cryptocurrencies, particularly Bitcoin and Ethereum, saw significant gains amidst the banking turmoil.
Qualtrics Goes Private
- Qualtrics, an experience management software company, is going private for $12.5 billion after a complex journey.
- This demonstrates that large deals are still possible despite the current M&A climate.
Rivian Seeks Broader Customer Base
- Rivian is negotiating with Amazon to end the exclusivity of their electric van deal, potentially allowing Rivian to sell to other customers.
- This could enable Rivian to increase sales volume and improve profitability in the competitive EV market.