Elon Musk is messing with people by teasing some kind of SVB (Silicon Valley Bank) purchase.
I think Twitter should buy SVB and become a digital bank.
— Min-Liang Tan (@minliangtan) March 11, 2023
I’m open to the idea
— Elon Musk (@elonmusk) March 11, 2023
If there was no buyer then the loans are auctioned.
The funds from the auction or sale would go to pay depositors.
The FDIC could find a buyer through a bidding process for both the assets and liabilities. JP Morgan is the most likely bank to try to buy all of SVB.
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Plenty of high tec startups that could be a better fit and a cheaper fit to accelerate Twitter.
But needs Twitter on satallite to make a working platform payoff
Plenty of high tec startups that could be a better fit and a cheaper fit to accelerate Twitter.
But needs Twitter on satallite to make a working platform payoff
I am glad he was only joking.
Because I can see him trying to link the assets of SVB to Twitter, and rushing ahead with X.com At this point, Musk needs to stabilize the software at the foundation of Twitter. I don’t want Elon turning Twitter into a payments platform too quickly.
After the twitter disaster, the Musk has a money for another one. The Musk will be remembered as the man to spent his fortune the fastest.
I think its a good idea. Bill Ackman should call on Musk rather than the government to buy/bailout SVR.
Maybe he can do to SVB what he did to Twitter?