<story><title>Peter Thiel&apos;s Founders Fund pulled cash from SVB before collapse: Report</title><url>https://www.businessinsider.com/peter-thiel-founders-fund-pulled-cash-svb-before-collapse-report-2023-3</url></story><parent_chain><item><author>paulgb</author><text>I’m worried about setting a precedent that the right thing to do is head to the exits the moment rumors start to circulate. It’s hard to argue now that that wasn’t the right move for any individual depositor in retrospect.&lt;p&gt;I can easily imagine this being weaponized by short sellers and foreign actors.</text></item></parent_chain><comment><author>itsoktocry</author><text>&amp;gt;&lt;i&gt;I can easily imagine this being weaponized by short sellers and foreign actors.&lt;/i&gt;&lt;p&gt;Hate to break it to you, bank runs have been a thing for hundreds of years.  This isn&amp;#x27;t new.  You put &lt;i&gt;your own&lt;/i&gt; money at risk by participating.&lt;p&gt;One of Elon&amp;#x27;s biggest achievements is normalizing demonizing &amp;quot;the shorts&amp;quot;.  In this case the Bank took took much risk and was insolvent; the shorts would be right.</text></comment>
<story><title>Peter Thiel&apos;s Founders Fund pulled cash from SVB before collapse: Report</title><url>https://www.businessinsider.com/peter-thiel-founders-fund-pulled-cash-svb-before-collapse-report-2023-3</url></story><parent_chain><item><author>paulgb</author><text>I’m worried about setting a precedent that the right thing to do is head to the exits the moment rumors start to circulate. It’s hard to argue now that that wasn’t the right move for any individual depositor in retrospect.&lt;p&gt;I can easily imagine this being weaponized by short sellers and foreign actors.</text></item></parent_chain><comment><author>JumpCrisscross</author><text>&amp;gt; &lt;i&gt;worried about setting a precedent that the right thing to do is head to the exits the moment rumors start to circulate&lt;/i&gt;&lt;p&gt;I’m surprised this is news so recently after a financial crisis. When the CEO of the bank starts pleading for deposits to stay, you wire out.</text></comment>