https://www.zerohedge.com/markets/f...sh-60-regional-bank-crisis-confidence-spreads
Here's another one.
These banks aren't exactly retail banks. These are investment Banks....kinda like a Charles Schwab or JP Morgan except instead of regular stocks These banks are for small businesses that receive angel investing. And anyone can be an angel investor with these banks. You don't have to be a millionaire to use them or invest with them.
And half of all Tech Startups used SVIB. Meaning that a HUGE portion of these companies are in a huge mess. Their bank is broke and their payroll is not going to be made.
The other investment banks are now in trouble too as there is a run on these type of banks....everyone wants their money out now!
So many people wonder how this affects them...
Well,
Wife works at A major cancer research University Hospital. I can go into details about the layers and levels of paperwork that medical research requires....but the hours needed would bore you to death.
But all this paperwork and documentation needs a system for the hundreds of thousands of research projects ongoing at any one time. So several companies have created complicated software systems to organize all this stuff.
These software systems are not inexpensive to create or maintain. They require millions to develop. All cloud based stuff.
A startup Creates a system and begins selling it out there to places like University hospitals. And the code monkeys keep it all going and operating.
Until the Startups bank crashes....and then everyone who works there runs out to find a new job because their current job can't make payroll.
So where do you go for a new job?
A bunch of code monkeys are out of work....no where to go because half of the code monkeys out there are unemployed.
Nevermind the code monkeys from India who will work for peanuts. (But they tend to write viruses into the system)
Or how about the company that makes special gizmos for diagnostics on a particular brand of air handlers....it's a startup...and doing well....expecting to get bought out soon.....until their bank collapsed and they can't even pay rent on their warehouse much less payroll....
What now?
Less than 10% of all companies in the US are multinational companies....90% of all companies are small businesses....AKA Startups.
And Startups have jobs that pay. I remember when Amazon was a startup. People were excited when their site got hits....now it's a nightmare. But if they had crashed because of the bank.....
Here's another one.
These banks aren't exactly retail banks. These are investment Banks....kinda like a Charles Schwab or JP Morgan except instead of regular stocks These banks are for small businesses that receive angel investing. And anyone can be an angel investor with these banks. You don't have to be a millionaire to use them or invest with them.
And half of all Tech Startups used SVIB. Meaning that a HUGE portion of these companies are in a huge mess. Their bank is broke and their payroll is not going to be made.
The other investment banks are now in trouble too as there is a run on these type of banks....everyone wants their money out now!
So many people wonder how this affects them...
Well,
Wife works at A major cancer research University Hospital. I can go into details about the layers and levels of paperwork that medical research requires....but the hours needed would bore you to death.
But all this paperwork and documentation needs a system for the hundreds of thousands of research projects ongoing at any one time. So several companies have created complicated software systems to organize all this stuff.
These software systems are not inexpensive to create or maintain. They require millions to develop. All cloud based stuff.
A startup Creates a system and begins selling it out there to places like University hospitals. And the code monkeys keep it all going and operating.
Until the Startups bank crashes....and then everyone who works there runs out to find a new job because their current job can't make payroll.
So where do you go for a new job?
A bunch of code monkeys are out of work....no where to go because half of the code monkeys out there are unemployed.
Nevermind the code monkeys from India who will work for peanuts. (But they tend to write viruses into the system)
Or how about the company that makes special gizmos for diagnostics on a particular brand of air handlers....it's a startup...and doing well....expecting to get bought out soon.....until their bank collapsed and they can't even pay rent on their warehouse much less payroll....
What now?
Less than 10% of all companies in the US are multinational companies....90% of all companies are small businesses....AKA Startups.
And Startups have jobs that pay. I remember when Amazon was a startup. People were excited when their site got hits....now it's a nightmare. But if they had crashed because of the bank.....
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