I think this thread will have tons of views from people in the startup world that are likely to be SVB customers. If we all agree to not do run in the bank, it will improve chances for SVB to make it through the next few days.
I'll start with committing not to withdraw money my company [redacted] holds in the bank.
Prisoner's dilemma is a situation where you're only playing the game once, and you have no way to interact with the other participant.
To the extent that this is a single bank run and the other actors are mostly anonymous and there is no way to verify whether or not someone has withdrawn their money then yeah this is a classic prisoner's dilemma and your only hope is to quickly get in line.
However, trying to change the game is also a viable strategy! Public non-anonymized commitments like this are exactly how you tie this into our broader iterated game and escape the nasty equilibrium of prisoner's dilemma.
Oof, absolutely terrible idea. The first priority always has to be making sure your business survives. You’re doing a disservice to your investors and employees.
I guess it’s kind of sweet and innocent to have such faith that a group of disparate people would act against their own self interest for only a nebulous future “common good” outcome, and that would be sparked by a comment on an internet forum.
Makes me feel kind of jaded to be honest. But maybe that’s the problem with society. Maybe we all just need to band together and not be swallowed by despair. Screw it - I also pledge to not withdraw any of my 0$ from SVB.
I'll start with committing not to withdraw money my company [redacted] holds in the bank.
We stand by SVB.
I invite others to do the same.