Author of the Network State. Founder of the Network School.

Balaji

Investing in a bank is a high risk activity. Like buying PayPal stock.

But merely depositing in a bank is *supposed* to be a low risk activity. Like using PayPal.

Now, there is a school of thought that says that this isn’t the case.

That any money you have in the fiat banking… https://t.co/iFWXl0PzZv

Only comment because ppl will confuse the 2:

1. Equity holders of SVB do not deserve a bailout. That's the risk of buying their stock. You get wiped.

2. A massive structural risk is if *depositors* face losses. US gov cannot let that happen. Puts every small bank at risk.

I do healthcare & tech stuff. Founder of https://t.co/uJTXjZVNJt, Flatiron Health (acq @Roche~$2b) & Invite Media (acq @Google~$81m). 

Invest @ https://t.co/2D00yW2Be4

Tweets from Zach Weinberg

Two more points

1) Yes, fully aware that PayPal does freeze many accounts, which I’ve written about many times. But that’s marketed as an edge case, not something you assume happens with high probability on every transaction.

Once you start thinking it *is* high probability… https://t.co/tRihqnrDUW https://t.co/iSvLug4riB https://t.co/jFSCfkhh9n

Immutable money, infinite frontier, eternal life. #Bitcoin

from Balaji | by Balaji