cnbc
Roku has $487 million of cash and cash equivalents in uninsured deposits at failed Silicon Valley Bank, the streaming media company said in an filing on Friday with the Securities and Exchange Commission.
About 26% of Roku’s $1.9 billion in cash was deposited with SVB, which was placed into receivership by the Federal Deposit Insurance Corp. midday Friday.
Roku shares fell over 4% in extended trading on the news. Invest
And so it begins.
I believe the word is “had”.
I don’t know ROKU but this doesn’t sound like a good thing.
mortem tyrannis
izlamo delenda est …
Roku is now Rokucked…..
I ain’t very happy either. What ever squirrel this bank set on fire also let the stock market flinch….cost us all money for nuthin’…..Bidenomics is the worst the world has ever seen…
“And so it begins”
Yea and it just warming up. The Brits lost 30 Bil. Hollyweird can’t make payroll. Fun Fun.
http://www.breitbart.com/europe/2023/03/11/svb-international-fallout-uk-and-european-lenders-lose-30-billion-overnight-as-panic-spreads/
“And so it begins”
Yea and it just warming up. The Brits lost 30 Bil. Hollyweird can’t make payroll. Fun Fun.
.breitbart.com/europe/2023/03/11/svb-international-fallout-uk-and-european-lenders-lose-30-billion-overnight-as-panic-spreads/
This is shocking
.dailymail.co.uk/news/article-11848705/Woke-head-risk-assessment-Silicon-Valley-Bank-accused-prioritizing-diversity-issues.html
Nest stop: Venezuela.
Not to worry, it’s insured, to 250 k and don’t forget there’s no time limit on when they pay you.
Roku sounds like they had assets other places too. Many did not per VC funding agreements. ETSY also used them. This admin is doing nothing to quell fear and contagion so this could blow up quickly into many areas.
Insured? Yup. Is the money sitting somewhere waiting to be doled out? Nope.
Biden’s on a mini vacay this weekend but we can be certain that he’ll be on like stink on shit Monday. Or Tuesday if he keeps Senate hours.
Get woke, go broke. The LAST place anyone wants to place unsecured assets is with any financial institution that even hints at their woke credentials. With these assholes it was something they wore on their sleeve. But don’t they all?
Silicon Valley Bank may not have liquid money to Lobby Congress for a Bail Out. But the major investors that are locked out from their $100’s of Millions will find the cash to influence Congress for our tax dollars to bail them out.
Watch California Congressman & House Speaker McCarthy, his campaign fund and the GOP Congressional Campaign fund blossom (as well as other Congressmen).
You got that right JDHasty. I moved my funds from a woke bank to a credit union for that very reason. It was a PITA, but I feel better knowing I’m doing what little I can do. I’ve also cancelled two credit cards and replaced them with those from unwoke entities but when Visa goes woke, what do you do? I’m still feeding the beast. Grrr…
I read that Harry and Meghan likely have significant exposure. Okra as well.
^^^Yeah, there’s a rumor that Harry and Meghan had all their Netflix money in there, they could be out millions. What a shame :/
Silicon Valley Bank employees received their annual bonuses Friday just hours before regulators seized the failing bank, according to people with knowledge of the payments. The Santa Clara, California-based bank has historically paid employee bonuses on the second Friday of March, said the people, who declined to be identified speaking about the awards. The payments were for work done in 2022 and had been in process days before the bank’s collapse, the sources said. -snip- A spokesman for the FDIC declined to comment on the bonuses.
@JDHasty – probably those bonuses were direct deposited into their SVB bank accounts…
Or directly converted to SVB stock (many corporations provide this option).
My wife recently gave me a Roku device for my birthday. I am remodeling the rec-room in our basement and was planning on setting up the device there to stream movies from our wi-fi once I was done the project. Waiting for the carpet to be delivered.
Oh, well…I might never get a chance to use it.
“when Visa goes woke, what do you do?”
Pay your CC off every month.
Then you get to use THEM, and get paid for the privilege.
Find the highest cashback card, get literally hundreds in free money!