Non-Political Market/Economy/Finance/etc. Thread

[pissclams]

i’m a working mom who wants to pay $600 a month to an app that will help me manage my life. 

[wetwillie]

We roasting this gal cause her business checking account was at a bank that failed?

I would say the main reason is bc her business is a joke

I’m not sure how you came to that conclusion from the twitter thread.  Sounded like business was good and her payroll and working capital are frozen at the bank she chose to use. 

[sys]

her payroll and working capital are frozen at the bank she chose to use.

it'll be (partially or wholly) unfrozen by monday.  relax and trust our federal bank regulators.

[Pete]

I wonder if the real reason she is pissed is that her line of credit just dried up and she suspects that other banks will not be as inclined to gamble on her crazy ideas?

[michigancat]

can someone explain why so many startups put their deposits in SVB?

[Pete]

can someone explain why so many startups put their deposits in SVB?

My guess is that it is in return for ridiculous loans and lines of credit.

[michigancat]

can someone explain why so many startups put their deposits in SVB?

My guess is that it is in return for ridiculous loans and lines of credit.

why wouldn't that attract a more diverse pool of depositors?

[wetwillie]

I wonder if the real reason she is pissed is that her line of credit just dried up and she suspects that other banks will not be as inclined to gamble on her crazy ideas?

If that’s the case then I’ll get out the popcorn so we can all laugh at her

[sys]

can someone explain why so many startups put their deposits in SVB?

i've seen it explained as:

1.  they were genuinely good and experienced at making loans and arranging financial services for atypical/early phase businesses
2.  easier when related parties all used the same bank
3.  a condition of loans/startup funding (including allegations that vc's got unrelated favorable treatment in exchange for directing deposits to svb).
4.  just sort of standard agglomeration effects.  like many of my coworkers use the same liability insurance agents and accountants and it's just because they pass recommendations btwn themselves and it's just easier because those people already know what products and services we need.

[sys]

if everyone was as good at their jobs as federal bank regulators, what an amazing world it would be.

https://twitter.com/TheStalwart/status/1635042362870345728

[sonofdaxjones]

SVB and Signature.  Who's next on the Jim Cramer "They're Solid" hit parade?

[michigancat]

So do we nationalize banks now? (Economics are always politics)

[steve dave]

SVB and Signature.  Who's next on the Jim Cramer "They're Solid" hit parade?

lmao

https://twitter.com/jimcramer/status/1634222320398086145?s=46&t=odWzhuZU7P443NcVwlC1iQ


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[Pete]

Man, I wish I had enough money in a bank to help contribute to a run on the banks.

[_33]

When will mortgage rates go down? (Is this the right thread for this? I don't feel comfortable here)

[michigancat]

I doubt they go down soon but I don't think they'll go up as much or as quickly as a lot of folks thought last week.

[michigancat]

Man, I wish I had enough money in a bank to help contribute to a run on the banks.

I'm going to brag a bit here but I have a friend who is CEO of a vc-funded startup and got put on one of these tech group chats by his investors to connect with other CEOs. He told me they mostly talked about hiring fuckable HR managers (other CEOs, not my friend!!!) but I'm going to ask him if one of them started a bank run. I'm guessing he is on a much lower rung than the David sacks one but still.

[XocolateThundarr]

When, I wonder, will we get back to the point where car dealers are truly desperate for customers?  I miss the days when they demeaned themselves regularly.

If you are looking for a new car it won't be long at all. Few months. Used may take longer.

Yeah, I have a freshman in high school right now who will need a used car at the end of summer.  Hoping that the new car market has stagnate inventory by then, and collapses the used car market.  I could push it to November or December, but not beyond that.

I found an old SRO Crown Vic at an auction for my daughter to drive.  It isn't much to look at, but is a sound, safe car.  I only paid a couple grand for it.  You might look at auctions to see what you can find for a school car.

[Pete]

When, I wonder, will we get back to the point where car dealers are truly desperate for customers?  I miss the days when they demeaned themselves regularly.

If you are looking for a new car it won't be long at all. Few months. Used may take longer.

Yeah, I have a freshman in high school right now who will need a used car at the end of summer.  Hoping that the new car market has stagnate inventory by then, and collapses the used car market.  I could push it to November or December, but not beyond that.

I found an old SRO Crown Vic at an auction for my daughter to drive.  It isn't much to look at, but is a sound, safe car.  I only paid a couple grand for it.  You might look at auctions to see what you can find for a school car.

That's fine for a daughter, but no one ever in the history of the world has factored in a girl's car into the calculation of whether they would date her or not.

[Pete]

When will mortgage rates go down? (Is this the right thread for this? I don't feel comfortable here)

My wild guess is 10 years.

[steve dave]

When, I wonder, will we get back to the point where car dealers are truly desperate for customers?  I miss the days when they demeaned themselves regularly.

If you are looking for a new car it won't be long at all. Few months. Used may take longer.

Yeah, I have a freshman in high school right now who will need a used car at the end of summer.  Hoping that the new car market has stagnate inventory by then, and collapses the used car market.  I could push it to November or December, but not beyond that.

I found an old SRO Crown Vic at an auction for my daughter to drive.  It isn't much to look at, but is a sound, safe car.  I only paid a couple grand for it.  You might look at auctions to see what you can find for a school car.

That's fine for a daughter, but no one ever in the history of the world has factored in a girl's car into the calculation of whether they would date her or not.

BIG BACK SEAT!

[steve dave]

When will mortgage rates go down? (Is this the right thread for this? I don't feel comfortable here)

I doubt we see anything under 4 for awhile but who knows. The good news is that you can just refinance when they do go down and it's a lot cheaper to do so these days than it used to be.

[kim carnes]

The regional banking system is like collapsing. Mainly in California, but that’s like the worlds 4th largest economy so that seems pretty significant…

[wetwillie]

Kim give it to me straight, how bad are we talking here.

[bucket]

The regional banking system is like collapsing

Yes, this is what I want to talk about. I read somewhere the banks are much more stable than they were in 2008. This is a Twitter problem where a panic can be manufactured to create a run on banks.