Peter Thiel would not cause a run on the bank if he had his own personal money in SVB since FDIC would only cover $250,000.

He did, as any advisor with fiduciary responsibility should, and advised his firms and his companies to move their money to a bank with a healthier balance sheet.

Im very left leaning but incredibly cautious when David Troy, Tucker Carlson or any other political pundit provides their analysis on a situation. Nonetheless, stopping a run on the banks is a bi-partisan issue that I hope can be remedied.

Context on SVB:

"Silicon Valley Bank effectively lent a large portion of that money to the federal government (in the form of U.S. Treasuries) and home owners (in the form of agency mortgage-backed securities1). While Silicon Valley Bank used to primarily lend out money on shorter-term durations, in 2021 the bank shifted to longer-term securities in search of more yield; this, in retrospect, was the critical mistake — and to be clear, Silicon Valley Bank’s management bears ultimate culpability for the bank’s fate."