Welcome to this week's FU, where we talked about the week that was, and what a week it was. Lots of bank failures and a possibility of some new banks.
Bank of America were one of the winners this week whilst First Republic Bank were a possible loser, until they were thrown a last minute lifeline by the banking industry in an unusual show of solidarity – or maybe they were just desperately trying to prevent the contagion from spreading? Pornhub, Stripe and Credit Suisse also came up in conversation, which included the normal blend of chaos mixed with insights that you might have come to expect from the team by now.
Watch the show here (it's also available as a podcast and more):
And a few links to stuff we spoke about:-
- First Republic had a narrow escape this week but can they manage to survive?
- Silicon Valley Bank’s losses were Bank Of America’s (BofA) gains
- A few of the Neobanks also had a good week
- We couldn’t make the PornHub story up – yes, it’s true!
- Take a look at this Korean k-pop band for a glimpse of what the future of entertainment holds
- How fast the mighty Stripe has fallen – was it always over-valued?
- OK – we agree with Rik – Chris wrote a good article about Credit Suisse and you should give it a read
- ECB’s Lagarde basically says “Keep Calm and Bank On”
- How big a part did social media play in the downfall of Silicon Valley Bank?
- Stop blaming wokeness for everything that goes wrong in the world
- Sam Bankman Fried and friends seemed to treat FTX as their own personal bank account
- The origins of the word Woke
- And the back story to this year's Oscar winners Jamie Lee Curtis and Ke Huy Quan
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Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...