This Week in Startups Banking crisis impact, more Meta cuts, and GPT-4 with Sunny Madra and Vinny Lingham | E1700
Mar 16, 2023
Sunny Madra, an entrepreneur and investor in the startup ecosystem, and Vinny Lingham, known for his insights into cryptocurrency and technology, join Jason for an engaging discussion. They dive into the repercussions of recent banking shutdowns and how these events impact the startup world. The conversation also touches on Meta's workforce cuts and the potential of GPT-4 to reshape business strategies. Their insights on navigating financial crises and the evolving landscape of digital currencies provide valuable takeaways for entrepreneurs.
AI Snips
Chapters
Transcript
Episode notes
Banking Crisis Impact
- One company moved eight figures from Silvergate to SVB, then to First Republic.
- Vinny bought gold due to the banking crisis.
Prisoner's Dilemma in Bank Runs
- Seeing multiple banks experience runs creates a prisoner's dilemma for depositors.
- Jason Calacanis describes the situation and his own reaction.
Redundancy in Banking
- Maintain multiple bank accounts to mitigate risk and ensure access to funds.
- Jason Calacanis recommends having three or four bank accounts.