236. The SVB Banking Crisis and the Role of Government Response with Michael Lewis
This week Logan and Evan are join by Michael Lewis, Co-Founder at THESIS Education, to discuss the Silicon Valley Bank crisis that shook the tech industry. SVB received an influx of deposits due to the tech boom and VC, leading to unrealized losses when they invested poorly. They sold at a loss and raised more money, causing a run on the bank. We explore the misunderstanding of the $250k FDIC deposit insurance limit, the systemic risk, and the government response, including guaranteeing deposits and letting banks fail.
In our AI Edge segment, we showcase Chat-GPT 4's impressive abilities such as turning a napkin sketch into a website and generating recipes from grocery photos. We also delve into the backstory of OpenAI LP, a capped profit company spun up in 2019.
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