https://www.cnbc.com/2023/03/10/silicon-valley-bank-is-shut-down-by-regulators-fdic-to-protect-insured-deposits.html
https://twitter.com/TheRealCorpBro/status/1634210020954099712?s=20
I bet Hock Tan wishes he could reduce the buy price for VMW now! 🤣
“I am your warrior. I am your justice. And for those who have been wronged and betrayed: I am your retribution,” - Hock Tan
Etsy is reporting cash flow issues over SVB shut down.
Roku, Roblox, BlockFi, Juniper Networks - lots of companies were banking with SVB.
Anyone know if Silverlake or AVGO used them to fund deals?
He can’t possibly run SVB, no folks from India are in leadership positions.
https://www.svb.com/leadership
The SVB sh-t will start to hit the fan soon enough…
Didn’t realize Magoo ran SVB.
at least from SEC database point of view, svb is lender.
https://www.sec.gov/edgar/search/#/q=silicon%2520valley%2520bank&dateRange=custom&ciks=0001124610&entityName=VMWARE%252C%2520INC.%2520(VMW)%2520(CIK%25200001124610)&startdt=2008-01-01&enddt=2023-03-11
not sure not filling yet recent status
Does VMW bank with SVB?
Ummm... Perhaps finance companies involved with the "merger" may no longer have the desire, nor liquidity to finance this perfect marriage? Don't be so cranky. It may open you up to thoughts other than how sh---y things are, supposedly
Nobody knows exactly how deep this will go, but repercussions to the tech industry will be far more severe, be deeper and last much longer than some financial pundits and talking heads on CNBC are saying and talking about very dismissively at the moment.
Does anyone know if VMware or Broadcom had any deposits in SVB Financial?
Strangely enough and perhaps only coincidentally, I had to reach out to payroll Today because a payment for expenses that I had submitted and was notified should be in my bank account within a specific number of business days but wasn't - in fact some days beyond that point. They've always been quick to make these payments and for them to show up in my bank account, so this is unusual. The only response I got is "we're looking into it." which was not very reassuring given this news about SVB Financial. It sounds like some people in tech may not be getting paid on their next pay day and some possibly be out of a job by next week because of this seeing as some payroll companies' their employees may not have the funds to do so.
How does this pertain to VMW or Broadcom?