Thought Leadership Threads


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Frank Rotman

People constantly wonder why the US has so many Banks compared to other countries!

Are you wondering if the US system makes sense?

Do you want to know where it's heading?

Here's some history, charts, and thoughts: 🧵👇

March 22, 2023

Frank Rotman

SVB’s biggest mistake was creating a balance sheet that wasn’t resilient in a rising rate environment.

Correctly calculating the Beta of their deposits would have led them to construct a short duration investment portfolio.

A primer on Deposit Beta and Deposit Stability:🧵👇

March 18, 2023

Frank Rotman

Every business has a core function. Some businesses make athletic shoes while others make wide screen televisions.

What’s become clear over the past week is that many people don’t understand what Banks actually do.

A simplified explanation if you're interested:🧵👇

March 16, 2023

Yusuf Ozdalga

The rapid erosion of value in SVB's bond portfolio made plain the power of math and markets and how they can turn against you like an unexpected flash flood.

Here is a simple explainer on basic bond math that is good to know even if you are not a bank CFO.

March 14, 2023

Yusuf Ozdalga

There is lots of anxiety in the start-up community after SVB became the 2nd largest bank failure in US history.

This is understandable. Lining up action plans with back up options is key.

Undertake all planning and communication in a calm manner. This is in everybody’s interest

March 11, 2023

Frank Rotman

The current spike in #inflation has lasted longer and is more challenging to manage than expected.

The Fed is combatting inflation with increases in interest rates and the equity markets aren’t happy.

Why have equities sold off and when does the recovery begin? 🧵👇

September 18, 2022

Frank Rotman

We’re in the middle of a crash and burn crypto cycle with “Exhibit A” being a handful of large lenders unable to meet their obligations due to “technical insolvency”.Could TradFi policies have prevented these meltdowns?The answer isn’t clear but is worth exploring.🧵👇

July 27, 2022

Yusuf Ozdalga

Buy-now-pay-later is not the same as traditional lending.

Used successfully, BNPL creates a rare win-win-win for consumers, merchants and banks.

When you deviate from what makes it unique, a cascading failure takes place and everything breaks down.

Here's why it is important.

June 9, 2022

Frank Rotman

A crypto mortgage? Is it possible? 🤨

Web3’s potential has been building for years as it aims to correct major flaws with web2 constructs.

But for many ideas, web3 Founders might have to build web2.5 versions first.

Crypto mortgages fall into this camp: 👇🧵

March 19, 2022