Silicon Valley Bank.....has this happened before? The rest of the last episode.
The demise of SVB. Black Friday and Black Monday. What it was like to work for a arbitrage desk on Black Monday. What happened after the crash. Maybe the artist that painted the picture below has a point.
0:00 Yeah. And here. Wow, it's been crazy. We expect to see some crazy on Monday, but you know, we the thing that that I always think back about is that like that job was real short term job, but it helped me start my first company because I only work 10 minutes an hour. It was incredibly stressful, the guy worked for what was part of the Yuppie five and you guys don't remember that unless you're like a hundred years old. But he was involved with steel. I think they took they were alleged to have taking insider trading Secrets. They broke into both skis office and me and he he they stole from the best criminal there was and they got caught and they are, they took from somebody else. I do remember the SEC, nailed all five of them. There was the company I work for was Arthur tyche teicher and Company.
0:59 He Great guy went in for the interview. I remember and he said there might and even told me he said, you know I'm under investigation, there might be, there might be something coming down. I'm like, you know, and I didn't understand it because I was like, I had no, I don't understand what that meant. I don't know what the hell insider trading was then and he said, yeah, there's something he said, you know what's insider trading? Someone gives you information, you know, and you trade on it and you know, what is that? And I would have loved that. That's really, I don't think so. Or like I just sort of like was like and I was just too stupid to grasp it at the time, but I worked there for a while and it worked out, but if you weren't in the office, you weren't going to go anywhere. I mean, I was, I was remote.
1:47 It was paper-based documents. I know that I saved him a lot of money in a couple cases and you know, I miss things in other cases and I think that it would have been an interesting String career path. If I'd continued and move to another firm because they were very close there. Like we got six people. That's what we got. We make, we maximize our revenue, and each one wanted to make their revenue and then retire. You know as I heard the word 50 Millions, bulletproof, I want 50 million and want to be bulletproof and nothing will approve the matter and so that you know and it's like You know, when they had, they had something like that furniture.
2:29 Yeah, it probably had something in here that for investing at the time, or but, I mean it was crazy because all the orbs shop said 10 or 15 or 20 million, it wasn't like hedge funds where they go to Harvard and Harvard. Okay, we got a we got a trillion dollars to put out we're going to give you 100 million it's not even a drop in the bucket to you know the different okay? The different type of private equity and hedge funds that we have today. The venture capitalist, these guys were trading daily with daily report cards and, you know, in the, the strangest thing is, is like, well, you, you know, you you would mention that.
3:09 Wow. Hey Tuesday. Saved you a million bucks? And basically it was just like I was fucking yesterday. What do you do for me then? Yeah, that was it. I don't care yesterday was yesterday. That's this is today, what's happening today? And every single. And he started to get in that mentality. That a pretty vicious your day, your day started, and you had to perform and you wanted up, you want to, you want to throw numbers on the board by the end of the day and if you could throw numbers on the board, what the fuck were you doing there? And absolutely that brutal? Because I don't I don't think Victor cuss but I think everybody else did it varying levels and and they were quite brutal.
4:03 I had a really brilliant Finance guy, Jack. Who was just like look at financials and go through them and say you know, these guys are going to do, they have this big pot of cash. They're in an industry that's growing. So they're going to buy something, they're gonna buy something. I know they're going to buy something. I don't know what they're going to buy. We need to find out where their CEO goes. We need to find that out. I mean, those kind of things like that. Yeah. I mean, that kind of logic. Did you ever hear about the, the quarterly review sessions and Lawn used to host for the employees? And now, they would run out like a Convention Center. Her and they would get up on the stage, like on the stage and they would roast a single employee. And then like they say you're fired, it was crazy because you would have all these employees. It would root out one pulley and I guess if you were smart, you would have a bunch of friends read a single person, but you had other employees rating fellow employees on how they were doing well. And then when the quarterly review came people would get behind a microphone and they would shout your name that shout at you like into the eye.
5:02 And so they say, get out, get out of this really. It's crazy to think about. Well, I mean, think about think about Elon Musk with what's he got 100 million followers firing on what a do we working on Twitter? Twitter of firing him. Yeah, her on video. So if you do about that. Yeah. Yeah I mean think about 100 million Enron the only the only George you had was, of course, it was very, very close and personal, it's 3,000 and they're all in Denim and they're all yelling at you and that was a such a shit bucket company. Really treated people and stuff but it's like, yeah.
5:45 Can you imagine if someone that has a hundred and there's no response to that, you can't go out and I can talk to my Hundred followers and convince everybody that I'm not a shit bucket and, you know. Yeah. Yeah. No, you can't. You have no microphone. So when a person with a really see, that's the thing I think is kind of On about that is when a person with a really, really large microphone craps on people that have no microphone is just that's a destroys their life, it's not. Yeah, I mean, you hear about where people have to move because followers in the group do things to them, and they go after that because they feel like exact, well, you know, so-and-so said she was bad or he was bad for whatever political reason or social reason or whatever and it's like and then they don't have a reputable career anymore either. So, Oh, it's like gosh.
6:33 Well that's I mean, I mean I coach people through my whole career that work with me work with other companies that I've and a little space in them in and they will get, you know, discriminate against, you know, or though that you know, they'll be some, you know, that will come against them and it's like what you want me to do and it's like a my mime usual response to help you find a job. Yeah. But I got an EEOC complaint I said okay so you you're a legal Or your legal you work in the legal industry. There are three big guys that are in the legal industry. Three big companies. There's probably a 15 or 20 around the peripheral on the outside and you're going to take an action against the one top three, how quickly do you think that's going to get around and you're not going to be able to work in the industry and not and blacklisted for the rest and you you may get enough money in the end to but but no one ever know did that actually went there. But you won't get a job and if you do get a job, it won't. It will be a, it'll be a, what do you call it? A straw Hut compared to them?
7:42 The palace he had before and you're not there, you're not sad locating, but this is the reason that people don't go after people that wrong them of power. And it said it's very, very sad and there is no, you know, and that's the reason when people start shitting on whistleblowers and they try to show their names, I'm like that's wrong. On that's wrong. Those people have no defense. The reason they wrote indigenous ancestry as you were stealing and cheating. You got caught. So what you're going to do is you're going to destroy their life, their family going to make the move you're going to make every fall the people around think had their horrible and they don't have a microphone speak back on and that's just exactly that's an equitable.
8:22 I mean it would almost seem to me that it would be kind of cool to have the, you know, whistleblowers speak back Network. You know they get OT interest, how'd you know that they could come? Back. And it's like, the guys that that, you know, that all the powers that be the crap on them and go after them with their hundred million followers. You grab together a network of like 10 people that have 10 million followers and you say this is distributed through them. So you get actually some way to say, hey he's full of shit. He lied, he cheated, he had a contract, the only reason he's doing this is because he wants to save money and, you know me but how would you do make a reputable Network? Like that? Like how would that have any sort?
9:02 I rain like, how would you? Well, I mean verified. How did you verify that Network? You'd have to? I mean, money-driven, of course, oh obviously, at the same time you would need because like King whistleblower compared to somebody that actually has. Well, you just said it, I love the ending whistleblower. That would be a great need for a network. Yeah, I mean stead of slitter we have King whistleblower and they're the people Buddy, that's been wronged and business or whatever gets it's a platform to speak. You know, if that is also the equity following individual there and they speak on LinkedIn but they speak anonymously in there like so and so just got fired. I mean think about if you worked for Google or Microsoft or meta for 8 10, 12 years and you went home on Friday and you know things are going well and you're thinking about your bonus is going to come and March 1st.
10:00 Yeah and you log On on Sunday, to check your emails early you can't get in and you can't get into anything and you can't find anything and you don't have a pass and then you notice in your email, you got an email last thing you can see. Is it you've been terminated? Yes, say like I've worked for you for eight years and you sent them. This is how it's gonna be. And you've told me, you've told me culture, you know, we had foosball, we had parties. Everybody got, we had a ping-pong table. We love everybody. And, and yo, you, you have been terminated and here's your package.
10:42 Please, it makes me think of it was that George Clooney of thing. Oh up in the air about here. Please just refer to the packet just reserved for the packing. Don't just stuff like the maket. Yeah. And I mean, the whole Yasser questions, I can't just refer to the packet and they go out and shoot themselves and it's like the movie really hit on the inter personalization of the tank or being fired from a company. Yeah, the lack of it. Yeah. Very very little granting. We're going into another topic here. Yeah, I think we're going to wrap up actually. Yeah, we got a Wrap up again, you have the next one. This is, this is the great. I love the Silicon Valley thing I think. I think that everybody should sit on eggs and let's stop the fear all weekend long. So the markets crash on Monday were all bankrupt. What do you think figure that idea? All bankrupt, all their new album, they are texting people as soon as I get off here and and on that note, always for this, listen to your listen, listen to this on what Spotify you can follow us on Instagram at a record of my father podcast.
11:44 You can also go to our website. My father.com. And please join us for further episodes. Thank you. And give us. Give us sight, give us some input. We want ideas, we do we want criticisms? Well he does, I don't, I want I want and maybe more accolades and criticisms, please party on.
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