capitalism

I keep thinking about the swiftness with which Silicon Valley Bank (SVB) collapsed. In the span of 48 hours, it went bust because as interest rates rose, VC capital to SVB’s portfolio companies decreased. That required the companies to start withdrawing deposits from SVB to fund day-to-day business operations but those deposits sat in bonds [...]

This repost is from almost exactly six years ago but is still relevant today. Enjoy. I had a dream the other night my sister, Rosie, and I slept in the same bed. She started hogging all the covers and I yanked them back from her and said, “No. You can’t take all the covers.” It’s [...]

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