Peter Thiel was smart enough to withdraw his money and take it elsewhere. Several officers of the bank sold millions of dollars worth of shares before they became worthless. Did they put the millions into their own bank, I wonder? That would be poetic justice.
That's an excellent point. One of the conditions SVB made to startups who got loans was that SVB was to be their sole bank. Think banks should require that of all C-level executives as well. Doubt the SVB executives who sold their stock reinvested it in the bank.
Peter Thiel was smart enough to withdraw his money and take it elsewhere. Several officers of the bank sold millions of dollars worth of shares before they became worthless. Did they put the millions into their own bank, I wonder? That would be poetic justice.
ReplyDeleteThat's an excellent point. One of the conditions SVB made to startups who got loans was that SVB was to be their sole bank. Think banks should require that of all C-level executives as well. Doubt the SVB executives who sold their stock reinvested it in the bank.
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