Silicon Valley had a bank... HAD

How will the Silicon Valley Bank failure affect software engineers and tech startups? Find out why SVB got into trouble and what it means for the average programmer.

#tech #svb #thecodereport

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🔖 Topics Covered

- How did SVB collapse?
- Simple explanation of Silicon Valley Bank failure?
- Will SVB customers get their money back?
- Why did USDC Depeg?
- Outlook of the tech Job Market

[shantanukulkarni]

In the tech industry, you always gotta keep changing tools but this time it seems like a pretty big change from vscode to shovels

[TomNook.]

Imagine losing staff and customers not because your product is crap, or your working conditions horrible.... But because you chose the wrong bank

[turolretar]

Thanks Jeff for my daily dose of optimism

[alexjones]

I moved to NYC to work in film back in 2018, lost job and had to move due to covid policies. Started investing in crypto in '21, then learned to code after crypto crashed in '22. Looks like I'm right on schedule to get fucked again.

[dexternepo]

Loved the "learn to mine" pun. I guess this is a reference to that news from a few years ago when some journalists suggested miners to learn coding to move away from the fossil-fuel industry

[tylerhxc]

Looking forward to the rebrand as Firestarter, where you post tuts on how to build actual fires and survive in the wild

[AntonioBianh]

Global financial markets have been significantly impacted by SVB's demise, prompting investors to sell off bank equities hastily and reevaluate their interest rate expectations. I am a $350, 000 investor who is at a crossroads and wondering if it is wise to hold onto securities that are losing value. I want guidance on the best approaches to maximizing my returns in this negative market.

[Gabrielle..]

We fail to realize that banks are commercial enterprises that are driven by greed as well. The over-leveraging of assets by banks starting in 2020 was one of the factors that led to SVBs collapse. I’ve never felt secure keeping a large sum of money in a bank I rather made investments with the guidance of an investment advisor, reap the benefits and then save for retirement.

[kyle-silver]

SVB’s real problem was the homogeneity of their depositors. A liquidity crunch in the startup scene meant that pretty much all of their cash was gone. Had they had a more diversified pool of depositors, this wouldn’t have stung as badly

[NycroLP]

Machines will do art, writing, even coding so we can do mundane jobs like working in a factory. What a time to be alive!

[ujjawalsrivastava]

Mining in 100 seconds - kindly consider this topic for the next video

Could be important 🤔🤔

[trentlangford]

Crazy, this crash affects me as an employee at a bagel shop in a completely different state

[christianhabermann]

"some guy in a PATAGONIA VEST", wow this is bizarrely accurate haha, i love your brilliant view on the world

[sourabhravi]

I watched this informative video, uninstalled VSCode, and now I am looking for a shovel.

Edit: thanks for so many likes

[oggolbat]

Fun fact: there's an open diamond mine in Arkansas where you can go and mine, and you can keep to yourself what to find. On average, a diamond is found once a day.

[SirDamatoIII]

Always gold! Still salivating over the promised SvelteKit deep dive vid, can’t wait!

[glenbert]

The failure of Silicon Valley Bank has torn into global markets, with investors ripping up their forecasts for further rises in interest rates and dumping bank stocks around the world. I'm at a crossroads deciding if to liquidate my dipping 200k stocck portfolio, what’s the best way to take advantage of this bear market?

[yuzee]

Goddamn I can barely call myself a "programmer" but I really love your style of content.
Keep it up, Fireship!

[ytpeerz]

Me changing my university course midway from Computer Science to Mining

[zenxel]

I knew all my years of grinding in minecraft wasn't for nothing 💪