Elizabeth Lopatto
It is, at minimum, bad optics to sell a bunch of your shares before your bank collapses.
And so now the federales are looking into stock sales made by Silicon Valley Bank’s leadership before the bank failed.
Elizabeth Lopatto
Senior Reporter
Senior Reporter
More From Elizabeth Lopatto
Elizabeth Lopatto
Smells like crisis PR!
Axios got some details on Peter Thiel’s Founders Fund and its decision to advise portfolio companies to pull funds from the troubled Silicon Valley Bank.
The story assures us that Thiel wasn’t “part of the conversation” and that Founders Fund told “LPs that this was all about prudently protecting their investments.”
The fall of Silicon Valley Bank, explained.
Elizabeth Lopatto
Elizabeth Lopatto
Richard Lawler
Panic! At the bank.
Silvergate is gone. The FDIC took over Silicon Valley Bank. Several other banks have lost billions in value, and it’s unclear whether a number of tech companies will be able to keep operating while all of this gets figured out.
If you’re unclear why our situation is the way it is, go back and take a look at Liz Lopatto’s article from a few weeks ago about interest rates and what they mean for tech companies right now.
Less money and more fear: what’s going on with tech
Elizabeth Lopatto
Elizabeth Lopatto
Peter Thiel’s Founders Fund tells its companies to yank funding from Silicon Valley bank.
Silicon Valley Bank, one of the most important banks for startups, said it would sell stock after the slowdown in VC funding and losses on some investments left a hole in its balance sheet. This does not seem to be the same situation as Silvergate, for what it’s worth.
But Founders Fund is advising its companies to pull the money all the same.
Elizabeth Lopatto
A deep-dive into crypto trainwreck Celsius.
If you’ve been following the case closely, most of the facts here won’t be a surprise to you. Hearing from the people who put their money into Celsius, around 15:24, is the stand-out here: people who lost money saved from years of work, and one person who couldn’t put a down payment on a house because his funds were locked in Celsius.
Bad actors prey on hope. Be careful when someone tells you what you want to hear.
Elizabeth Lopatto
Elizabeth Lopatto
“Ohana culture” is, apparently, paying Matthew McConaughey $10 million annually while laying off 8,000 workers in January alone.
Never trust a business that says “we’re all one big family,” Salesforce edition:
After an executive retreat in February, he [CEO Marc Benioff] proposed in a draft of a year-ahead strategy plan that the company rank employees based on metrics, including how much money salespeople bring in. Those in the bottom 5% would be routinely dismissed, according to a draft of the policy posted on the company’s Slack channel and described to The Wall Street Journal.
Because that’s how you treat family, right? Ohana, baby.