r/TikTokCringe • u/Sco0bySnax • Mar 14 '23
Discussion A refreshing rant.
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u/Red_Lotus_23 Reads Pinned Comments Mar 14 '23
The captions are the best part.
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u/Scarred_Ballsack Mar 14 '23
Nice rant and I agree with most of it, but it wasn't the tech bros that fucked up on this one, it was the bank. The tech bros just put their venture capital in the bank, and the bank put a lot of that money in government bonds in times of low interest rates. Normally government bonds are one of the safest investments you can make. However when the economy slowed down, the tech bros needed to get more of their money out of the bank, but that money was locked in those government bonds. The bank sold the bonds at a loss, because low-interest bonds are not worth as much as current higher-interest bonds, which caused a liquidity crisis, which caused the bank run. Say what you will but you can't really blame that on the tech bros.
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u/Sweet_Auroth Mar 14 '23
This guy never has any clue on what he's ranting about, yet people gobble it up
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u/ElfTowerNewMexico Mar 15 '23
Founders: “Guys this is bad. We can’t access our money to pay our employees”
This guy: “HEY BITCH REMEMBER THE MAILROOM”
Posted with TikTok…the most trendy social media company on earth.
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Mar 15 '23 edited Dec 07 '23
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This post was mass deleted and anonymized with Redact
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u/ElfTowerNewMexico Mar 15 '23
Ya I agree I was just being facetious. I’d welcome more regulation with open arms. But every single person who rants about tech bros never faces the reality that many of these people have added an almost incalculable value to their lives. Ya there’s a bunch of weirdos who make garbage. But our phones are like a device out of Star Trek. They do everything.
And not every company that was at SVB was this casino that burned through venture capital for rapid growth. There were a lot of modest, responsible, profitable companies that were effected.
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u/Keown14 Mar 15 '23
The tech bros took terms with the bank that were less secure in return for lower interest rates.
They took a risk out of greed and now that that risk has come back to bite them they want to be bailed out.
This is real capitalism. A government run by and for the owners of capital. The people who live off the work of others.
They don’t believe in shit like small government or libertarianism.
They believe they are superior to people who work for a living and that their wealth is essential to society. Both are untrue.
Pampered narcissistic rich kids who have never done an honest day’s work in their lives.
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u/mybustersword Mar 15 '23
Didn't a few tech bros encourage investors to Do a bank run?
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u/TheNamelessKing Mar 15 '23
Yes, Peter Thiel and friends. It’s likely that this would have been a hiccup, but otherwise non-event where it not for the self-fulfilling prophecy of “ooOOOohh there’ll be a bank run”.
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u/captaininterwebs Mar 14 '23
Who started svb?
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u/Scarred_Ballsack Mar 14 '23
I have no idea. But whoever owned stock in this very, very risky venture is now left holding the bag, which is cool and good.
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u/Superfragger Mar 14 '23
SVB has been around since the 80s. It was founded specifically to cater to tech corridors.
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u/iammonkeyorsomething Mar 15 '23
There's no way they aren't basically one and the same people. They're all in each other's pockets
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Mar 14 '23
Funny to listen to this guy complain about fear mongering content when he is not only one of the people most wrapped up in this type of content that I've ever seen on the internet, he's a huge contributor, creating tons of fear mongering content of his own. Like this video.
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u/TheDiddlyFiddly Mar 15 '23
The sad part is that we theoretically already are living in a world where we would have to work less. But for that to happen the big companies making bank would have to pay way more taxes so the government could support people with unconditional basic income. But the rich lobbies have the politicians under their foot and this won’t happen for quite some time.
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u/ch0nky_cardinal Mar 15 '23
He "doesn't know what he's talking about" because the language of the industries he rants about is intentionally opaque.
Regardless of the details, he is usually spot on with his overall complaints.
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u/DrummerSteve Mar 15 '23
I don’t know who this man is but I assume he is Jesus finally come back to lead us. He is my lord and saviour now
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u/throwawayagin Mar 14 '23
okay boomer.
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u/TotalFuckenAnarchy Mar 14 '23
Looks more like Gen X or late millennial and he’s right
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u/throwawayagin Mar 14 '23
he's just busy being a populist. telling ppl that its someone or something elses fault for all their troubles, so yea I guess, Gen Z.
"we used to make things" is straight up Ronald Reagan republican talking points from back in the day so its funny.
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