peter teal- were worried? peter teal started the _ were worried?rried? peter teal started the rumour mill. were worried? peter teall started the rumour mill on were worried? peter teal- started the rumour mill on this but if you look at the structural changes happening in the us and happening in markets like the uk, we see new entrants coming into the markets and being able to acquire customers very cheaply using digital —— peter thiel. it is true of deposits, we've seen that in markets like china. so banks of are still requiring on older distribution methods have difficulties in raising deposits as they did in the past. raising deposits as they did in the ast. �* , .,, raising deposits as they did in the ast. �* , ., ., the past. and people at home ma be the past. and people at home may be worried _ the past. and people at home may be worried that _ the past. and people at home may be worried that this - the past. and people at home may be worried that this is . the past. and people at home may be worried that this is a i may be worried that this

people like peter teal led the charge. there is two issues here. the first is why did techies not see this coming. and it is partly because the people have been working in silicon valley are so dazzled by computer science and so addicted to the idea of being anti-establishment, moving fast and breaking things, to quote mark zuckerberg, trying to disrupt everything and essentially hating washington and hating wall street, that they've been very, very scornful of things like old fashion the banking. and they spent far more town at the founders the start-ups thinking about computer science and never bothering to look at this banking relationships or asking whether it was a good idea to use silicon valley bank to heavily and put so many eggs in one basket and they didn't see what other people saw which is silicon valley balance sheet was sitting on enormous and streamly dangerous losses which would be threatening. that is part of the problem. but the other problem is that when the crisis started, essentially the silicon valley

was this bad acting by venture capitalist firms led by people like peter teal? is this the first bank run caused by a tweet? and in many cases it might have been. so i think that trying to unpack and figure out what happened here, but the fallout, i think you may have a federal reserve that may slow down interest rate increases, because there are other mid-size banks that may have made the same mistakes that silicone valley bank made in trying to manage its assets in a rising interest rate climate. so i think we have to figure that out. but we shouldn't ignore the role that people like peter teal and others who are super online people and maybe overreact to the moment. and their overreaction just destroyed a bank that they may regret they destroyed. >> indeed. what a fascinating confidence. you have the former chair of the fdic, who was the chair during the last great recession. so we look forward to that conversation today. chuck, thanks for joining us with that preview this morning. we hope you do join chuck for "meet the press." we'll have a full lineup of in

is a backer of brex and had money at silicon valley bank and peter teal encourage add lot of startupsmoney out starting on march 1 because he was worried -- march 19 because he was worried about silicon valley bank's stability. you know, there's people who are looking at this staying, well, sure he d. he backs brex and probably told them to get out of svb and put it into brex and that's how you got all the money. what do you say to that and can you give us a window on how all that worked? >> yeah, number one peter is an early investor of brex and never talked to us about saving our money out and silicon valley bank and saying to other portfolio companies may be true but definitely not to us. number two is i would say that there was every vy that i know in s silicon valley was saying e same thing and the venture capitalist and by someone specifically and i do think that for brex, silicon valley bank going under is negative even though it may seem good from the outside because of the short term and all small community banks around the country and silicon valley bank were examples for ev

is attracted to men -- "advocate" magazine, one of the leading lgbtqia plus magazines and said peter tealnot gay after he spoke at the rnc because he did not represent the gay voice -- peter thiel. now you start to see a pattern which brings us to the doorstep of the third religion that has america in a chokehold which is the newest one that looks like it is here to stay until we do something about it, and we will. that is the climate religion in america that says that we have to fight carbon emissions at all costs in the united states while we shipped those same carbon emissions to places like china that supposedly -- even if you believe in this religion, you would have embraced nuclear energy, which is the best form of carbon-free energy production known to mankind, and yet these people oppose nuclear energy. what's really going on is that the climate religion has about as much to do with the climate as the spanish inquisition had to do with christ, which is to say nothing at all. it is about power, dominion, control, punishment, and apologizing for what we have achieved in this country

peter teal, he is gay he is a man attracted to men.he advocate a magazine a leading lgbtqia plus magazine, after he spoke at the republican convention where trump was nominated for the first time, they famously wrote a piece that said peter teal is not gay because he doesn't represent the gay voice. ayanna pressley, black voice. peter teal, gay voice. that brings us to the third religion. this is going to be the most dangerous of all that has staying power. not from elected president it doesn't but i will tell you what i'm going to do about it. right now, absent us doing something about this drastically starting today, the new climate religion in america. it has about as much to do with the client as the spanish inquisition had to do with christ. which is to say, nothing at all. this is about power and punishment. i can prove that to you, actually. because the religion is supposed to be about giving off global warming. it's a perfectly fine with telling u.s. companies like exile and an chevron, and producers here at home to stop produc

all of a sudden, peter teal, he can't win somehow, so whoever is supposed to be minding the henhouseell, but they didn't. it was interesting, how quickly this happened. they were solvent on wednesday and not on friday? that was very quick. kevin o'leary from "shark tank" was on "newsroom" this morning and he things the government did overreact and we are heading down into this position where you would have no private sector banks. you wonder why elizabeth warren is licking her chops, because she wants nationalized government banks. she wants all of those banks to be backed up by the federal government. is not the right thing to do? i don't think so, and i don't think we could do that overnight. i think congress has to have some sort of say in it and we do not have it yet. i want to do a little what about his own because why not? it's been 10 minutes, haven't done it. smaller, regional agricultural banks are very important to rural america. so if you are a farmer or a rancher, you usually know your banker. i remember the banker that my grandfather had. he came and he was part of the c

. >> the fact that it was a bank run, steve and it was venture capitalists and peter teal's name whoame famous in political circles for getting heavily involved in the 2022 elections he pulled his money out and said hey, guys, something doesn't look good lear here and it started a run. does this tell you that there is something that could be isolated or could this happen at other banks? >> chuck, you're asking the question that wall street has, i think, 24/7, been debating since this happened. let's put this in context. this is probably the first bank run in the digital age and i don't know if sheila would confirm that and that means a tweak can cause a bank run. i don't know if a tweak has caused a bank run before and comments like peter teal and others have caused a massive amount of deposits. so there are four things that are thought to make this bank unique. it had a particular risk in its balance sheet when it came to interest rates. it did not seem to hedge that risk. second, it was highly concentrated in the industry so that all of its -- most of its depositors and borrowers,

lawmakers proposing bills that would ban the apps or give president biden the authority to ban it, peter teald specifically tiktok. we spoke to one of those investors ahead of the event. >> his weapon up influencers to showcase that is beside the point. the point is it's a backdoor in your living room, and the living rooms of americans. >> reporter: the stage is set, tomorrow on the hill, the survival of the company. stuart: see you again soon. is green this morning, inching up. most people think we will raise rates 25 basis points. they think the market can take it. house republicans released a report on merrick garland's memo that labeled parents domestic terrorists. julian turner with us. what did the investigation find? >> reporter: we will find out even more than we know this our. republicans hold a hearing to consider the parents bill of rights act the names to give parents more rights in their children's classrooms. the interim report they released indicated they plan to go all in on attacking the biden administration. >> could be a hot button issue if democrats continue to jam policie

. >> founders' found was peter teal's fund early backer of facebook. >> i build companies and supportcket ships. >> he had also just been the only major tech investor to back donald trump in the 2016 presidential elections. peter teal kind of put a stick in the ground in the tech world saying i'm not going to shay away from something i think is good business because i might have a checkered past. and so one of the partners was going to join the board. >> i've invested in companies in my career such as uber, spacex. >> she was known for being an incredible friend to founders and actually working with them in the trenches. >> founders funds whole managing principle is we don't get in the way of founders. russ knows he's going to have free reign with founders funds money and colin, you go back and keep coding and engineering and keep this game up and running and russ will be the ceo and take all the glory. that's the way i read it. ♪ ♪ >> you can go back to every article, every interview with russ, what's the future of hq? russ' whole thing is i'm going to give away a million dollars. >>

.>> bloomberg reported doing her and venture capitalist peter teal had his companies pull their funds from sbb this week. do we know what kind of role that played in all of this? >> peter is an incredibly influential figure in silicon valley. right now there is a lot of finger-pointing going on about what caused this. he is reported to pull out thursday and encouraged his companies to pull them out as well. word spreads quickly. you have group chats and people are talking. we saw tens of billions of dollars being withdrawn from svb, which basically was the kiss of death. you may remember he was a big proponent of crypto. he was very bullish on bitcoin. he attacked the critics of bitcoin as enemies. meanwhile, he sold crypto and made billions of dollars in profit. people in the valley know that he is very skilled at moving his billions of dollars to safe harbor when there is volatility in the markets. >> there may be some volatility to come. john, thank you very much.>>> texa s is urging people not to travel to mexico during the spring break holiday. the warning follows the highly publ

the wall street journal is reporting silicon valley executives including peter teal are forming an yous against china's involvement in the u.s. tech industry. they're calling themselves the hill and valley forum. they'll meet on wednesday to discuss china and protecting america's national security ahead of tiktok's testimony on capitol hill this week. the ceo of tiktok will testify thursday. joining me is competitive enterprise institute center for technology innovation court ink, jesjessmalusian. let's talk about this. >> i think you're seeing more proof this is one of the few bipartisan issues left o there, concern around china. you see the business community which probably has sincere national security concerns but also u view tiktok as a competitive threat in the app market and you're seeing them aligned with both parties in washington, the biden administration p pushing back on tiktok and lots of republicans in congress have had concerns for a great while. maria: there's another wildly popular chinese app, his is bytedance has another app in the u.s. called cap cut. it's a video e

i mentioned peter teal and $50 million. he spoke at trump's nomination in 2016 -- the convention. it is not a simple matter of democrat versus republican or democrats uld get paid back and republicans wouldn't. the left-right politi of this are ambiguous and kind of inside track to the real issues this story exposes. host: let's go to yogesh in smyrna, georgia. are you there? caller: hello? host: are you there? caller: yes. host: go ahead. caller: i already said my question. the government could have a problem with signature bank a few months earlier. host: what do you think? caller: -- guest: this is a big question. therwere concerns within e government about silicon valley bank. i don't kn as much about the background of signature and when or if supervisors became concerned about it. not only was the reporting my other colleagues at bloomberg inditing regulators were concerned, silicon valley bank should have raised some alarms, especially thanks to its size and rapid deposit growth. it's size is significant and the fact that if it were to fail, it would be costly and dangerous.

i mentioned peter teal and $50 million. he spoke at trump's nomination in 2016 -- the convention.t is not a simple matter of democrat versus republica or democrats would get paid back and republicans wouldn't. the left-right politics of th are ambiguous and kind of inside track to the real issues this story exposes. host: let's go to yogesh in smyrna, georgia. are you there? caller: hello? host: are you there? caller: yes. host: go ahead. caller: i already said my question. the government could have problem with signature bank a few months earlier. host: what do you think? caller: -- guest: this is a big question. there were concerns within the government about silicon valley bank. i don't know as much about the background of signature and when or if supeisors became concerned about it. not only was the reporting my other colleagues at bloomberg indicating regulators were concerned, silicon valley bank should have raised some alarm, especially thanks to its size and rapid dosit growth. it's sizes significant and the fact that if it were to fail, it wod be costly and dangerous. whe

peter teal has given money to give awards for people that they think should be holding up. it goes a lot of different ways. on this issue of information for law enforcement, you believe in making sure that there are warrants and people could get access to that information is that correct? ms. sohn: yes if i'm confirmed i will fully abide by kolya and i do believe that law enforcement needs to abide by the first and fourth amendments. i don't think that's a radical position. but people get confused on and to end encryption and don't think there is data there. sen. cantwell: you support law enforcement getting access to the initial information and the decrypted information. ms. sohn: yes. sen. cantwell: there is a misalignment about what your view is at least from the respect and i hope week continue to have information and correction on that. to the point of the settlement of another board you were on and another settlement which you didn't have anything to do with the details of the settlement and in consequence, you also you were before this committee you are prohibited in

. >> i was hoping they would call on peter teal, who i'm not saying -- he did play a role.and to your point about the nature of the digital speed here. >> right. >> the nature of the ability -- >> on twitter fired the alarm and telling his portfolio companies involved with they would be best to take money out of svb. that did not help the situation at all. you know congress will be political, they don't talk about the digital technicalities. it's the democrats saying the republicans rolled back in 2018 dodd/frank and it was president trump's fault and also this bank executives too woke to focus on running a sound bank and the democrats will say that that's what the republicans will say. it's all political points and they have their narratives, does anything get done from a regulation standpoint or fact finding standpoint. >> barr's testimony is interesting. it's not the job of supervisors to fix the issues identified. it's management and the board to fix its own problems. steve liesman with his take on this morning's hearing. hey, steve. >> guys you have it right. the polit

host: a question for yoon twitter, i think you alluded to this earlier, what about the actis of peter tealrawing all of his money from the bank and encouraging investors to do the same which cause the run on the bank. he does not exactlyave the well-being of our democracy in mind. guest: it will be tough for the regulators. i do not think they had considered the possibility of a group of bank depositors fleeing all at once over social media. i do not think the rules envisioned $40 billion going out the door in a single day. it is hard to regulate for that. there were things that were missed at the firm. i'm not sure why they were missed. it is difficult to anticipate the social media and all of the new technology. ho: our gue is following the washington angle on this story. his story today at, "why top washingtonfficials choseo scue s deposors." whatre you lookingt next? guest: what are ting to writ aut wasike a tikto-- we wanteto gui readers over what happened. we foced on key decision. in 2008 you had all of these marathon weekend meetings where the regulators were bailing ou bas and ted

peter teal a republican backer who spoke at the gop convention in 2016, he is a man who is attractedeading lgbtq advocacy magazine said he is not gay because he does not represent the gay voice. now i'm going to tell you about how this mystery wraps up when i tell you about the third cult that has arisen at the same time. that is the new climate cult in this country. it says that we face an existential risk as human being's unless we combat carbon emissions yet here is the contradiction in this cult which is it does not say a peep about carbon emissions in places like china even as petro china buys up the projects we force chevron to drop on the other side of the world emitting even more carbon in the process. the other mystery about this cult is that it is also weirdly hostile to nuclear energy is the best known form of carbon energy production known to mankind. nuclear energy might be too good at solving the alleged climate problem. the climate religion has about as much to do with the climate as the spanish inquisition had to do with priced which is to say nothing at all. it is ab

peter teal a republican backer who spoke at the gop convention in 2016, he is a man who is attractedeading lgbtq advocacy magazine said he is not gay because he does not represent the gay voice. now i'm going to tell you about how this mystery wraps up when i tell you about the third cult that has arisen at the same time. that is the new climate cult in this country. it says that we face an existential risk as human being's unless we combat carbon emissions yet here is the contradiction in this cult which is it does not say a peep about carbon emissions in places like china even as petro china buys up the projects we force chevron to drop on the other side of the world emitting even more carbon in the process. the other mystery about this cult is that it is also weirdly hostile to nuclear energy is the best known form of carbon energy production known to mankind. nuclear energy might be too good at solving the alleged climate problem. the climate religion has about as much to do with the climate as the spanish inquisition had to do with priced which is to say nothing at all. it is ab

peter teal a republican backer who spoke at the gop convention in 2016, he is a man who is attractedgbtq advocacy magazine said he not gay because he does not represent the gay voice. now i'm going to tell you about how this mystery wraps up when i tell youbout the third cult that has arisen at the same ti. that is the new climate cult in this country. it says that we face an existential risk as human being's unless we combat carbon emissions yet here is the contradiction in this cult which is it does not say a peep about carbon emissions in places like china even as petro china buys up the projects we force chevron to drop onhe other side of the world emitting even more carbon in the process. the other mystery about this cult is that it is also weirdly hostile to nuclear energy is the best known form of carbon energy production known to mankind. nuclear energy might be too good at solving t alleged climate problem. the climate religion has about as much to do with the climate as the spanish inquisition had to do with priced which is to say nothing at all. it is about power, dominion

peter thiel had $50 million of his own money in silicon valley bank when it went under, financial times reporting teald not draw down from his own account because he believed the bank would not fail, even though his founders fund had warned its portfolio companies to move money away from the tech focus to lender. latest petronas plans to expand its corporate vcr by up to 200 million as early as april according to reuters citing sources branch will focus on making investments across isa -- asia-pacific but the plan being finalized. finally walmart is investing another $200 million in indian payment at phone pay. this was done at a valuation of $12 billion part of an ongoing finance effort to raise the total to $1 million for the start up. caroline: let's think into the flow of money and particularly around the current banking crisis, how it has unfolded, who it has tented, who in managed to highlight the strike. the vc world is when we will focus on in the slick and bally vanke and others in the name realm so being a concern. our next guest is with us and i say we are not quite out the woods yet becaus