Name: Y Combinator CEO On Silicon Valley Bank Collapse: This Is An Extinction Level Event For Startups
Uploaded: 2023-03-11T17:55:41+00:00
Duration: 5 min 27 s
Description: "This will hurt all of American innovation and our competitiveness in the world if we allow these startups to go under in the next 30-60 days." "I would guess that this affects about a thousand startu

1 year ago

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"This will hurt all of American innovation and our competitiveness in the world if we allow these startups to go under in the next 30-60 days."

"I would guess that this affects about a thousand startups and a third of those startups will not be able to make payroll in the next 30 days in the current configuration . . . These are the small guys [startups that need access to their money to stay in business]. If we damage them, it hurts us all . . . This is a national security issue because this is a lot bigger; this will splash across all of the economy."

-- Y Combinator CEO, Garry Tan

Video Source:
https://rumble.com/v2cmtig--y-combinator-ceo-on-svb-this-is-an-extinction-level-event-for-startups.html

Related Comment from Michael Krieger @LibertyBlitz:

"Three things are needed to facilitate the rollout of the CBDC [Central Bank Digital Currency] system.

"1) Make holding money in banks feel completely unsafe.

"2) Destroy competitors or make them unattractive as viable alternatives (bitcoin, etc)

"3) Economic collapse then tie welfare to CBDC.

"All are in play."