March 17 2023 Recap Chamath recently enjoyed a Laura Piana dinner, and now, it's time to recap the week in Silicon Valley. People have been reacting to Jason's all-caps tweeting, and a Wall Street Journal editorial blamed Bill Ackman and Sacks for spreading panic. Silvergate's failure has led some to point fingers at cryptocurrency, while others blamed VCs for the issues at SVB. Meanwhile, Signature Bank, First Republic, and Credit Suisse are all experiencing problems, with the Swiss government backing the latter. The current banking crisis is a result of poor decisions made during the Covid-19 pandemic. The lockdown economy, money printing, and lowering interest rates have all contributed to the massive costs that have to be borne at some point. The Federal Reserve's claim that inflation is transitory has proven false, and their subsequent rapid raising of interest rates may also be misguided. With global debt at 360% of global GDP, the question of who to blame for t
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