We discuss the clear and present danger throughout the global financial system, with crises happening in the banking sector that have not been seen since the 2008 crash. However, these are not sudden and surprising explosions—at least not to industry and regulatory insiders—they are instead the slow motion ticking of bombs that are under review. We also get further into the failures of the VC industry and the fact that reforms—even severe ones that cut deep—are not enough to fix an industry, let alone bring it to heel, which is structurally incapable of serving the social good.

Some stuff we reference

••• How Venture Capital Can Avoid the Next Silicon Valley Bank Fiasco | Del Johnson https://www.wired.com/story/to-save-the-innovation-economy-break-big-venture-capital/

••• Enmeshment in Venture https://www.laconiacapitalgroup.com/blog/enmeshment

••• A Death in the Valley: What the End of SVB Reveals About VC Class Solidarity | Doug Henwood https://www.thenation.com/article/economy/svb-bank-interest-rates/

••• Fed Blocked Mention of Regulatory Flaws in Silicon Valley Bank Rescue https://www.nytimes.com/2023/03/16/business/fed-regulation-svb.html

••• Before Collapse of Silicon Valley Bank, the Fed Spotted Big Problems https://www.nytimes.com/2023/03/19/business/economy/fed-silicon-valley-bank.html

••• UBS Agrees to Buy Credit Suisse for More Than $3 Billion https://www.wsj.com/articles/ubs-offers-1-billion-to-take-over-credit-suisse-bfac51fa

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Hosted by Jathan Sadowski (www.twitter.com/jathansadowski) and Edward Ongweso Jr. (www.twitter.com/bigblackjacobin). Production / Music by Jereme Brown (www.twitter.com/braunestahl)