Jimmy Dore Interview With David Sacks - Here’s Who’s Responsible For Silicon Valley’s Bank Collapse
It's The Wall Street Journal, ... with a bit of help from Washington, ...
It’s painful for me to watch so many smart pundits and politicians on both the right and the left buy into a media narrative that seeks to blame “wealthy speculators” or “tech bros” or VCs for a banking crisis that ultimately started in Washington. Let me explain. 🧵
— David Sacks (@DavidSacks) March 14, 2023
See The Incredible Tantrum Venture Capitalists Threw Over Silicon Valley Bank:
... For over a decade, low interest rates have allowed venture capitalists to accumulate huge funds to give increasingly unprofitable firms with unrealistic business models increasingly larger valuations—one 2021 analysis found that not only were 90 percent of U.S. startups that were valued over $1 billion unprofitable, but that most would remain so. ...
See Sacks' The All-in Podcast: https://www.allinpodcast.co/
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