Submitted by PossessionStandard42 t3_11tuevi in technology
ImmediateLobster1 t1_jcp5h2y wrote
Reply to comment by JeebusJones in Peter Thiel says he had $50M in SVB when it collapsed. by PossessionStandard42
Your numbers are right, but one item is important: He didn't even lose the $50M. He just lost access to the $50M for a short period of time. The FDIC is guaranteeing all depositors will get their money back (normally they "only" guarantee the first $250,000 in an account, but in this case they're covering everyone).
JeebusJones t1_jcqc323 wrote
A great point!
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