SVB Parent files for bankruptcy
Check also StaRt speech app that helps children pronounce better
SVB Parent files for bankruptcy.
The parent of SVB bank files a motion for creditor protection with the court. Apparently, they have financial problems.
Some bank experts commented SVB bank was run more like a hedge fund than a bank. Making unnecessary risks by betting against the market (guessing the wave).
So the dominos are starting to reveal themselves. I am still betting on an FTX connection, but time will tell what will happen.
President Biden is asking Congress for more power against CEOs of fallen banks. And Fear of bank runs and liquidity problems does not go away in the USA in the EU. Not going away even with several 10s of billions of dollars.
This one is short. I am going for a St. Patrick's beer and trying to forget the madness people in charge are making.
p.s.: If you have time, check this App called StaRt from Bits Lab. It uses a type of gamification to provide speech therapy. For Apple users, it works on Ipad only (why I do not know yet). It uses bio-feedback.
What they have done is massive research and appealing design. They have taken in-depth ultrasound images and incorporated them into predicted ocean waves. Speech therapy is usually costly because it takes a lot of time. And is generally too late to be administered effectively.
Because it is late, at least 3x of the time and effort is needed. So in the age where children grow up with a smartphone, such an app is spot on. The people behind them are scientists from New York University Steinhardt.
Why the ocean waves and gamification?
Because it helps children understand, see and hear the difference between how they speak and how they should pronounce certain letters.
The letter "R" is usually the most problematic because it combines different vocal organs that must work together. And because R comes in 3 major typical types, which are entirely different (hard R, nasal R, semi-hard R). Hence the name StaRt.
They are looking into ways to improve the App. But until then, it is the best we've seen on the market.