Tech Moguls React To The Silicon Valley Bank Collapse

Tech Moguls React To The Silicon Valley Bank Collapse

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The collapse of Silicon Valley Bank is the largest failure of a financial institution since Washington Mutual went under in 2008. The Onion asked tech moguls how they felt about the bank’s failure, and this is what they said.

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Safra Catz , Oracle

Safra Catz , Oracle

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“Collapse sounds bad, but getting shut down by regulators is simply the final phase of innovation.”

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Dara Khosrowshahi, UberEats

Dara Khosrowshahi, UberEats

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“And to think they could’ve avoided this all with a more prudent business model centered around making people pay $40 for a soggy sub they’ll get in two hours.”

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Steve Ballmer, Former Microsoft CEO

Steve Ballmer, Former Microsoft CEO

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“I really feel for the venture capitalists who’ve lost everything except millions in liquid assets stashed elsewhere.”

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Sergey Brin, Alphabet

Sergey Brin, Alphabet

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“Oh no, whatever shall we do with all these lobbyists we have on retainer to pressure the government to bail us out?”

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Elon Musk, Twitter

Elon Musk, Twitter

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“A true leader would’ve made sure it was the No. 1 worst bank failure in history, even worse than the Great Depression.”

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Daniel Ek, Spotify

Daniel Ek, Spotify

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“They should consider making interactive charts for every business that banks with them. People will forgive a lot of unethical treatment when you give them interactive charts.”

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Sundar Pichai, Alphabet

Sundar Pichai, Alphabet

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“This is the perfect thing to explain why we won’t be giving out the raises and bonuses that we weren’t going to give out anyways.”

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Mark Zuckerberg, Meta

Mark Zuckerberg, Meta

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“Wow, this seems like a very stressful event for people who have much less money than I do.”

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Gregory Becker, Silicon Valley Bank

Gregory Becker, Silicon Valley Bank

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“Fuck, I wish I had shorted SVB shares.”

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Peter Thiel, Palantir

Peter Thiel, Palantir

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“If they weren’t so hell-bent on diversity, equity, and inclusion, I wouldn’t have had to orchestrate a bank run.”

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Tim Cook, Apple

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“We’ve had processes in place for years to make sure events like this only drive our stock price higher.”

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Herbert Wilson, Wilson Enterprises

Herbert Wilson, Wilson Enterprises

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“I keep trying to tell you I’m not a tech mogul. I just own an iPhone.”

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Jack Dorsey, Block, Inc.

Jack Dorsey, Block, Inc.

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“In the future, when money has become obsolete and sexual gratification is the only remaining form of currency, the only banks we will need are our own turgid, throbbing genitals.”

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Andy Jassy, Amazon

Andy Jassy, Amazon

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“I want to reassure investors and consumers that we’re too powerful to fail without taking the entire economy with us.”

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Zhang Yiming, ByteDance

Zhang Yiming, ByteDance

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“There’s just something quaint about a good old-fashion bank run.”

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Mark Benioff, Salesforce

Mark Benioff, Salesforce

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“It’s important that we maintain confidence in the central system that we use every day to commit fraud.”

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Michael Dell, Dell

Michael Dell, Dell

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“We still exist? Hey, that’s neat.”

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