The collapse of Silicon Valley Bank and subsequent depositor rescue by the Biden administration through the FDIC has launched a firehose of finger-pointing, ass covering and general controversy. Tech industry investor David Sacks tells Jimmy that government incompetence led to the debacle, which is why government intervention was necessary to save depositors from sustaining heavy losses and possibly inspiring a run on other banks.
Jimmy and Sacks discuss the history that led to SVB’s demise and the Biden administration’s subsequent actions.
David Sacks on Twitter: https://twitter.com/DavidSacks
David Sacks’ podcast: https://www.allinpodcast.co/
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