this post was submitted on 22 Nov 2024
295 points (97.7% liked)
Technology
59710 readers
5603 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Risky investment turns out to be risky. No one could have seen that coming.
This isn't about shareholders being wiped out. It's about account holders of what they thought were bank accounts losing everything because their accounts were powered on the back end by a company they'd never heard of or directly dealt with.
Scam bank sounded like a scam to begin with.
If you see this as investment, then consider that investors were lied to (the startups claimed to have FDIC coverage) and didn't have accurate information to assess the risk.
Synapse lied to the fintechs, too.
Yeah, it’s almost weird that it’s news.
Imagine if they made news after a big fight about people who gambled and lost.
Imo the bigger news is the financial illiteracy of the average person.
Damn funny how this bravado is never around for the svb failed... The rich got bailed and normies said it was good.
Normies get ducked here and other normies come out in droves to dunk on them.
Microcosm of USian culture haha