SVB is equal to saving the “favorite class”, Xi’s opportunity in Silicon Valley and other comments

Republican: SVB = saving the “favorite class”

When Treasury Secretary Janet Yellen announced that “all the tech companies that deposited money” in Silicon Valley Bank, Vivek Ramaswamy thunders in Newsweek, “It’s going to be complete, the federal government is sending a clear message to the American people: There are alternative rules if you’re part of the preferred class.” After all, “the normal rules of the road are clear: The first $250,000 is FDIC-insured. After that, the customer is liable for the loss. But Silicon Valley wanted a different set of rules for itself” — and got it, through arguments. “False” amounts to “raw self-interest masquerading as altruistic concern for the country”, whereby “venture investors can easily inject fresh capital against any losses on the balance sheet”. The truth is: “It’s a rescue, pure and simple.”

Watching China: Xi’s Opportunity in Silicon Valley

“China likes to sell with fire,” Notes Emily de la Bruyere and Nathan Pekaresque in The Hill Watch her actions in the 2008 financial crisis, when she bought US stocks at a huge discount. Post-SVB bailout, “there is no reason to stop China from gaining closer proximity” to “important and foundational emerging technology” because “the dominant banking partner of the US tech ecosystem has disappeared overnight.” Therefore, “the United States should be wary of China sweeping into the vacuum.” Such efforts, if successful, would directly feed into China’s military modernization program and technology-enabled surveillance state. “Let’s not let China define the period ahead. Instead, let’s treat this moment as a warning that underscores the strategic importance of private market capital flows. And let’s treat it as a competitive arena.”

Epidemic Journal: Ignore the hype in Wuhan market

An “impressive piece” in The Atlantic claims there is “new evidence” that COVID started in a seafood market in Wuhan, but that it “fails to clear the first hurdle” He parodies Matt Ridley in The Spectator. She says raccoon dogs illegally sold there “may have been carrying the virus and may have been shedding it” at the end of 2019. “Notice,” Ridley says, “You could have, this old hype-and-circle retreat.” We’ve known for years that the market sold raccoon dogs, and Chinese scientists “discovered the virus in sixty-four places in the market” — “in each case the ‘virus’ has a ‘human form’.” This is just the latest episode in a “strange trend in which a small group of Western virologists with easy access to the media” are desperate not to acknowledge that the pandemic may have started in a virology lab.

From right: The Stakes in Chicago’s Runoff

The Chicago Teachers Union threw its “frantic support for progressive candidate Brandon Johnson” in the city’s mayoral runoff on April 4, The Wall Street Journal editors warned. “The Anti-Terrorism Unit and its Political Action Committee gave Mr. Johnson over $2 million and even dipped into the pot of individual teacher dues to give him an extra boost” since: “If the union could get Mr. Johnson to City Council, he would sit on my side.” negotiating table,” nor would declining public approval rates matter. Meanwhile, “about 83% of Chicago students graduate from high school but less than a third are proficient in reading or math on a SAT.”

Gadfly: Bank failures show elite madness

The new capitalists were supposed to be different. Fraser Myers from Muses Spiked, but “the collapse of Silicon Valley Bank (SVB) should shatter these illusions, once and for all”. SVB “had more money than places to put it”. Why? “Easy money has created a tech landscape that is built less on real innovation or consumer benefit than on hype, deception, and adventure.” So many of Silicon Valley’s lavishly funded projects are sheer silliness. and Deliveroo, built on financial sands.” “In SVB’s Downfall, we see illusions of elites return home to take up residence. The dream of Silicon Valley, sold with hype and backed by easy money, has turned into a nightmare.”

– Prepared by the editorial board of the post