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The FDIC, Federal Reserve, and Treasury announced that depositors will be fully protected, and have access to all of their money starting 2023-03-13, so any EA-destined funds at SVB should be fine.
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AI Use Note: Main body text entirely human written. Claude (Opus 4.8) helped develop models of animal life histories in the appendix.
Cross-posted from Good Structures.
Executive Summary
* Animal advocates sometimes make claims like “there are X of this animal...
“How long have you been v*g*n?”
This is one of the most common icebreakers at animal protection events. It’s a baseline assumption, and it mostly holds true: if you’re out advocating for animals not to be tortured or abused, realistically these days you are v**n, or close. And it makes for good conversation. It seems fairly safe to assume when you meet strangers.
But this assumption is hurting the movement in a way which we don’t always notice: someone new comes into the sp...
Summary
Back in November 2023 I posted here to launch Spiro and raise our first $198k. Two and a half years later this is an update and a fundraiser for the next step.
The short version: we've now reached over-5,900 people with TB preventive medicine, including over 3,000 children under five years old. Our early results have held up well an...
Recent opportunities to take action
[Update: As to depositors, see Jeff's comment.]
Probably very little? While there's a chance that depositors will take a haircut, that haircut is likely to be modest. The larger issue for depositors may be loss of access to funds for a while, although I expect next week's advance payment will be substantial. And if I had money, I'd lend it with very little hesitation with the uninsured deposits as collateral -- would probably want something like 1.10 in deposits backing 1 in loans to be safe.
Such a large percentage of SVB deposits were uninsured that there isn't going to be a concentration of losses in that class the way there might be at other banks.
If a major funder has significant exposure to SVB bonds or stock, that might be a different story.