VC billionaires demand bailout … for the little people
In the wake of the Silicon Valley Bank collapse, the squealing from the venture capitalist community will not stop until they get theirs. Of course, that’s not how they’re selling their demands. But as with the 2008 financial collapse, the Randian elites are covering their own asses first.
Silicon Valley Bank on Friday paid out annual bonuses to eligible U.S. employees, just hours before the bank was seized by the U.S. government, Axios has learned from multiple sources.
What to know: The bonuses were for work done during 2022, and were previously scheduled to be disbursed on March 10. That date ultimately coincided with the bank’s takeover by the Federal Deposit Insurance Corporation.
Anand Giridharadas’ (“Winners Take All: The Elite Charade of Changing the World“) Twitter feed is filled with the rich advocating for the poor, poor paycheck worker.
Giridharadas is still swapping barbs with billionaire Mark Cuban over the SVB bailout demand.
“So please tell us what changes Silicon Valley will be making out of gratitude to the American people for help?” Giridharadas asks Cuban. No reply.
Nick Hanauer warned “My Fellow Zillionaires” in 2014 that “The Pitchforks Are Coming… For Us Plutocrats.” We’re still waiting.
Paul Krugman has a long thread with his take on the SVB collapse.