WEBVTT #Elemental Media Engine(TM) 2.17.1.0 00:00:01.401 --> 00:00:01.501 VALLEY 00:00:01.501 --> 00:00:01.568 VALLEY TURNED 00:00:01.568 --> 00:00:01.634 VALLEY TURNED ON 00:00:01.634 --> 00:00:01.901 VALLEY TURNED ON ITS 00:00:01.901 --> 00:00:02.035 VALLEY TURNED ON ITS OWN 00:00:02.035 --> 00:00:02.302 VALLEY TURNED ON ITS OWN HERE 00:00:02.302 --> 00:00:02.435 VALLEY TURNED ON ITS OWN HERE AND 00:00:02.435 --> 00:00:02.602 VALLEY TURNED ON ITS OWN HERE AND WHAT 00:00:02.602 --> 00:00:02.902 VALLEY TURNED ON ITS OWN HERE AND WHAT DOES 00:00:02.902 --> 00:00:03.069 VALLEY TURNED ON ITS OWN HERE AND WHAT DOES IT 00:00:03.069 --> 00:00:03.136 VALLEY TURNED ON ITS OWN HERE AND WHAT DOES IT MEAN 00:00:03.136 --> 00:00:03.603 VALLEY TURNED ON ITS OWN HERE AND WHAT DOES IT MEAN FOR 00:00:03.603 --> 00:00:03.770 VALLEY TURNED ON ITS OWN HERE AND WHAT DOES IT MEAN FOR THE 00:00:03.770 --> 00:00:04.170 AND WHAT DOES IT MEAN FOR THE 00:00:04.170 --> 00:00:04.371 AND WHAT DOES IT MEAN FOR THE FINANCING 00:00:04.371 --> 00:00:04.838 AND WHAT DOES IT MEAN FOR THE FINANCING LANDSCAPE 00:00:04.838 --> 00:00:05.205 AND WHAT DOES IT MEAN FOR THE FINANCING LANDSCAPE FOR 00:00:05.205 --> 00:00:05.405 FINANCING LANDSCAPE FOR 00:00:05.405 --> 00:00:05.972 FINANCING LANDSCAPE FOR START-UPS 00:00:05.972 --> 00:00:06.239 FINANCING LANDSCAPE FOR START-UPS GOING 00:00:06.239 --> 00:00:06.272 FINANCING LANDSCAPE FOR START-UPS GOING FORWARD? 00:00:06.272 --> 00:00:06.406 START-UPS GOING FORWARD? 00:00:06.406 --> 00:00:06.506 START-UPS GOING FORWARD? LET'S 00:00:06.506 --> 00:00:07.007 START-UPS GOING FORWARD? LET'S BRING 00:00:07.007 --> 00:00:07.040 START-UPS GOING FORWARD? LET'S BRING IN 00:00:07.040 --> 00:00:07.240 START-UPS GOING FORWARD? LET'S BRING IN A 00:00:07.240 --> 00:00:08.475 START-UPS GOING FORWARD? LET'S BRING IN A COUPLE 00:00:08.475 --> 00:00:08.508 START-UPS GOING FORWARD? LET'S BRING IN A COUPLE OF 00:00:08.508 --> 00:00:08.675 LET'S BRING IN A COUPLE OF 00:00:08.675 --> 00:00:09.209 LET'S BRING IN A COUPLE OF EXPERTS 00:00:09.209 --> 00:00:09.976 LET'S BRING IN A COUPLE OF EXPERTS AND 00:00:09.976 --> 00:00:14.748 LET'S BRING IN A COUPLE OF EXPERTS AND DAN 00:00:14.748 --> 00:00:14.981 LET'S BRING IN A COUPLE OF EXPERTS AND DAN PRIMAK 00:00:14.981 --> 00:00:16.116 LET'S BRING IN A COUPLE OF EXPERTS AND DAN PRIMAK IS 00:00:16.116 --> 00:00:16.349 LET'S BRING IN A COUPLE OF EXPERTS AND DAN PRIMAK IS AXIOS, 00:00:16.349 --> 00:00:16.383 LET'S BRING IN A COUPLE OF EXPERTS AND DAN PRIMAK IS AXIOS 00:00:16.383 --> 00:00:16.549 EXPERTS AND DAN PRIMAK IS AXIOS 00:00:16.549 --> 00:00:16.716 EXPERTS AND DAN PRIMAK IS AXIOS WELCOME 00:00:16.716 --> 00:00:17.083 EXPERTS AND DAN PRIMAK IS AXIOS WELCOME TO 00:00:17.083 --> 00:00:17.350 EXPERTS AND DAN PRIMAK IS AXIOS WELCOME TO YOU 00:00:17.350 --> 00:00:17.384 EXPERTS AND DAN PRIMAK IS AXIOS WELCOME TO YOU BOTH. 00:00:17.384 --> 00:00:17.517 WELCOME TO YOU BOTH. 00:00:17.517 --> 00:00:17.584 WELCOME TO YOU BOTH. THERE 00:00:17.584 --> 00:00:17.984 WELCOME TO YOU BOTH. THERE ARE 00:00:17.984 --> 00:00:18.184 WELCOME TO YOU BOTH. THERE ARE PEOPLE 00:00:18.184 --> 00:00:18.284 WELCOME TO YOU BOTH. THERE ARE PEOPLE SAYING 00:00:18.284 --> 00:00:18.451 WELCOME TO YOU BOTH. THERE ARE PEOPLE SAYING THIS 00:00:18.451 --> 00:00:18.485 WELCOME TO YOU BOTH. THERE ARE PEOPLE SAYING THIS WAS 00:00:18.485 --> 00:00:19.152 THERE ARE PEOPLE SAYING THIS WAS 00:00:19.152 --> 00:00:19.652 THERE ARE PEOPLE SAYING THIS WAS A 00:00:19.652 --> 00:00:20.020 THERE ARE PEOPLE SAYING THIS WAS A MUTUALLY 00:00:20.020 --> 00:00:20.553 THERE ARE PEOPLE SAYING THIS WAS A MUTUALLY BENEFICIAL 00:00:20.553 --> 00:00:21.054 THERE ARE PEOPLE SAYING THIS WAS A MUTUALLY BENEFICIAL ECOSYSTEM 00:00:21.054 --> 00:00:21.354 A MUTUALLY BENEFICIAL ECOSYSTEM 00:00:21.354 --> 00:00:22.188 A MUTUALLY BENEFICIAL ECOSYSTEM HERE, 00:00:22.188 --> 00:00:22.422 A MUTUALLY BENEFICIAL ECOSYSTEM HERE, AND 00:00:22.422 --> 00:00:22.489 A MUTUALLY BENEFICIAL ECOSYSTEM HERE, AND INSTEAD 00:00:22.489 --> 00:00:22.789 A MUTUALLY BENEFICIAL ECOSYSTEM HERE, AND INSTEAD IT 00:00:22.789 --> 00:00:23.757 A MUTUALLY BENEFICIAL ECOSYSTEM HERE, AND INSTEAD IT WAS 00:00:23.757 --> 00:00:23.790 A MUTUALLY BENEFICIAL ECOSYSTEM HERE, AND INSTEAD IT WAS VCs 00:00:23.790 --> 00:00:23.957 HERE, AND INSTEAD IT WAS VCs 00:00:23.957 --> 00:00:24.224 HERE, AND INSTEAD IT WAS VCs TURNING 00:00:24.224 --> 00:00:24.791 HERE, AND INSTEAD IT WAS VCs TURNING ON 00:00:24.791 --> 00:00:25.025 HERE, AND INSTEAD IT WAS VCs TURNING ON A 00:00:25.025 --> 00:00:25.058 HERE, AND INSTEAD IT WAS VCs TURNING ON A BANK. 00:00:25.058 --> 00:00:25.258 TURNING ON A BANK. 00:00:25.258 --> 00:00:25.392 TURNING ON A BANK. SOME 00:00:25.392 --> 00:00:25.625 TURNING ON A BANK. SOME REPORTS 00:00:25.625 --> 00:00:25.725 TURNING ON A BANK. SOME REPORTS THAT 00:00:25.725 --> 00:00:26.092 TURNING ON A BANK. SOME REPORTS THAT THEY 00:00:26.092 --> 00:00:26.259 TURNING ON A BANK. SOME REPORTS THAT THEY WERE 00:00:26.259 --> 00:00:26.426 SOME REPORTS THAT THEY WERE 00:00:26.426 --> 00:00:26.893 SOME REPORTS THAT THEY WERE GETTING 00:00:26.893 --> 00:00:26.993 SOME REPORTS THAT THEY WERE GETTING THEIR 00:00:26.993 --> 00:00:27.293 SOME REPORTS THAT THEY WERE GETTING THEIR MONEY 00:00:27.293 --> 00:00:27.861 SOME REPORTS THAT THEY WERE GETTING THEIR MONEY OUT 00:00:27.861 --> 00:00:27.894 SOME REPORTS THAT THEY WERE GETTING THEIR MONEY OUT BEFORE 00:00:27.894 --> 00:00:28.061 GETTING THEIR MONEY OUT BEFORE 00:00:28.061 --> 00:00:28.161 GETTING THEIR MONEY OUT BEFORE TELLING 00:00:28.161 --> 00:00:29.095 GETTING THEIR MONEY OUT BEFORE TELLING THEIR 00:00:29.095 --> 00:00:29.229 GETTING THEIR MONEY OUT BEFORE TELLING THEIR START-UPS 00:00:29.229 --> 00:00:29.662 GETTING THEIR MONEY OUT BEFORE TELLING THEIR START-UPS TO 00:00:29.662 --> 00:00:29.696 GETTING THEIR MONEY OUT BEFORE TELLING THEIR START-UPS TO GET 00:00:29.696 --> 00:00:29.829 TELLING THEIR START-UPS TO GET 00:00:29.829 --> 00:00:30.563 TELLING THEIR START-UPS TO GET THEIR 00:00:30.563 --> 00:00:30.663 TELLING THEIR START-UPS TO GET THEIR OWN 00:00:30.663 --> 00:00:31.297 TELLING THEIR START-UPS TO GET THEIR OWN MONEY 00:00:31.297 --> 00:00:31.331 TELLING THEIR START-UPS TO GET THEIR OWN MONEY OUT. 00:00:31.331 --> 00:00:31.431 THEIR OWN MONEY OUT. 00:00:31.431 --> 00:00:31.564 THEIR OWN MONEY OUT. IT 00:00:31.564 --> 00:00:31.831 THEIR OWN MONEY OUT. IT WAS 00:00:31.831 --> 00:00:31.965 THEIR OWN MONEY OUT. IT WAS A 00:00:31.965 --> 00:00:32.098 THEIR OWN MONEY OUT. IT WAS A BAD 00:00:32.098 --> 00:00:32.399 THEIR OWN MONEY OUT. IT WAS A BAD LOOK 00:00:32.399 --> 00:00:32.532 THEIR OWN MONEY OUT. IT WAS A BAD LOOK ALL 00:00:32.532 --> 00:00:32.966 THEIR OWN MONEY OUT. IT WAS A BAD LOOK ALL AROUND 00:00:32.966 --> 00:00:32.999 THEIR OWN MONEY OUT. IT WAS A BAD LOOK ALL AROUND AND 00:00:32.999 --> 00:00:33.199 IT WAS A BAD LOOK ALL AROUND AND 00:00:33.199 --> 00:00:33.466 IT WAS A BAD LOOK ALL AROUND AND A 00:00:33.466 --> 00:00:33.633 IT WAS A BAD LOOK ALL AROUND AND A LOT 00:00:33.633 --> 00:00:33.867 IT WAS A BAD LOOK ALL AROUND AND A LOT OF 00:00:33.867 --> 00:00:33.967 IT WAS A BAD LOOK ALL AROUND AND A LOT OF BAD 00:00:33.967 --> 00:00:34.501 IT WAS A BAD LOOK ALL AROUND AND A LOT OF BAD BLOOD 00:00:34.501 --> 00:00:34.701 IT WAS A BAD LOOK ALL AROUND AND A LOT OF BAD BLOOD AND 00:00:34.701 --> 00:00:34.968 IT WAS A BAD LOOK ALL AROUND AND A LOT OF BAD BLOOD AND A 00:00:34.968 --> 00:00:35.502 IT WAS A BAD LOOK ALL AROUND AND A LOT OF BAD BLOOD AND A LOT 00:00:35.502 --> 00:00:35.668 IT WAS A BAD LOOK ALL AROUND AND A LOT OF BAD BLOOD AND A LOT OF 00:00:35.668 --> 00:00:37.103 A LOT OF BAD BLOOD AND A LOT OF 00:00:37.103 --> 00:00:38.004 A LOT OF BAD BLOOD AND A LOT OF PEOPLE 00:00:38.004 --> 00:00:38.304 A LOT OF BAD BLOOD AND A LOT OF PEOPLE FURIOUS 00:00:38.304 --> 00:00:39.239 A LOT OF BAD BLOOD AND A LOT OF PEOPLE FURIOUS OVER 00:00:39.239 --> 00:00:39.272 A LOT OF BAD BLOOD AND A LOT OF PEOPLE FURIOUS OVER WHAT'S 00:00:39.272 --> 00:00:40.874 PEOPLE FURIOUS OVER WHAT'S 00:00:40.874 --> 00:00:40.940 PEOPLE FURIOUS OVER WHAT'S PERCEIVED 00:00:40.940 --> 00:00:40.974 PEOPLE FURIOUS OVER WHAT'S PERCEIVED TO 00:00:40.974 --> 00:00:41.141 PEOPLE FURIOUS OVER WHAT'S PERCEIVED TO BE 00:00:41.141 --> 00:00:41.174 PEOPLE FURIOUS OVER WHAT'S PERCEIVED TO BE TERRIBLE 00:00:41.174 --> 00:00:41.441 PERCEIVED TO BE TERRIBLE 00:00:41.441 --> 00:00:41.941 PERCEIVED TO BE TERRIBLE MISMANAGEMENT 00:00:41.941 --> 00:00:42.909 PERCEIVED TO BE TERRIBLE MISMANAGEMENT AND 00:00:42.909 --> 00:00:43.076 PERCEIVED TO BE TERRIBLE MISMANAGEMENT AND IN 00:00:43.076 --> 00:00:43.209 PERCEIVED TO BE TERRIBLE MISMANAGEMENT AND IN RETROSPECT 00:00:43.209 --> 00:00:43.343 MISMANAGEMENT AND IN RETROSPECT 00:00:43.343 --> 00:00:43.643 MISMANAGEMENT AND IN RETROSPECT LEFT 00:00:43.643 --> 00:00:43.843 MISMANAGEMENT AND IN RETROSPECT LEFT THEM 00:00:43.843 --> 00:00:44.411 MISMANAGEMENT AND IN RETROSPECT LEFT THEM FULLY 00:00:44.411 --> 00:00:44.477 MISMANAGEMENT AND IN RETROSPECT LEFT THEM FULLY EXPOSED 00:00:44.477 --> 00:00:45.011 MISMANAGEMENT AND IN RETROSPECT LEFT THEM FULLY EXPOSED TO 00:00:45.011 --> 00:00:45.045 MISMANAGEMENT AND IN RETROSPECT LEFT THEM FULLY EXPOSED TO ITS 00:00:45.045 --> 00:00:45.245 LEFT THEM FULLY EXPOSED TO ITS 00:00:45.245 --> 00:00:45.278 LEFT THEM FULLY EXPOSED TO ITS DEMISE 00:00:45.278 --> 00:00:45.412 DEMISE 00:00:45.412 --> 00:00:45.478 DEMISE WHAT 00:00:45.478 --> 00:00:45.779 DEMISE WHAT ARE 00:00:45.779 --> 00:00:46.079 DEMISE WHAT ARE YOU 00:00:46.079 --> 00:00:46.112 DEMISE WHAT ARE YOU HEARING 00:00:46.112 --> 00:00:46.212 WHAT ARE YOU HEARING 00:00:46.212 --> 00:00:46.312 WHAT ARE YOU HEARING >> 00:00:46.312 --> 00:00:46.613 WHAT ARE YOU HEARING >> THERE 00:00:46.613 --> 00:00:46.813 WHAT ARE YOU HEARING >> THERE ARE 00:00:46.813 --> 00:00:47.047 WHAT ARE YOU HEARING >> THERE ARE A 00:00:47.047 --> 00:00:47.380 WHAT ARE YOU HEARING >> THERE ARE A LOT 00:00:47.380 --> 00:00:48.448 WHAT ARE YOU HEARING >> THERE ARE A LOT OF 00:00:48.448 --> 00:00:48.615 WHAT ARE YOU HEARING >> THERE ARE A LOT OF VENTURE 00:00:48.615 --> 00:00:48.848 >> THERE ARE A LOT OF VENTURE 00:00:48.848 --> 00:00:48.915 >> THERE ARE A LOT OF VENTURE CAPITALISTS 00:00:48.915 --> 00:00:49.015 >> THERE ARE A LOT OF VENTURE CAPITALISTS WHO 00:00:49.015 --> 00:00:49.816 >> THERE ARE A LOT OF VENTURE CAPITALISTS WHO TOLD 00:00:49.816 --> 00:00:49.849 >> THERE ARE A LOT OF VENTURE CAPITALISTS WHO TOLD PORTFOLIO 00:00:49.849 --> 00:00:50.050 CAPITALISTS WHO TOLD PORTFOLIO 00:00:50.050 --> 00:00:50.116 CAPITALISTS WHO TOLD PORTFOLIO COMPANIES 00:00:50.116 --> 00:00:50.283 CAPITALISTS WHO TOLD PORTFOLIO COMPANIES TO 00:00:50.283 --> 00:00:51.084 CAPITALISTS WHO TOLD PORTFOLIO COMPANIES TO GET 00:00:51.084 --> 00:00:51.384 CAPITALISTS WHO TOLD PORTFOLIO COMPANIES TO GET THEIR 00:00:51.384 --> 00:00:51.651 CAPITALISTS WHO TOLD PORTFOLIO COMPANIES TO GET THEIR MONEY 00:00:51.651 --> 00:00:51.684 CAPITALISTS WHO TOLD PORTFOLIO COMPANIES TO GET THEIR MONEY OUT 00:00:51.684 --> 00:00:51.785 COMPANIES TO GET THEIR MONEY OUT 00:00:51.785 --> 00:00:51.885 COMPANIES TO GET THEIR MONEY OUT AND 00:00:51.885 --> 00:00:52.085 COMPANIES TO GET THEIR MONEY OUT AND THERE 00:00:52.085 --> 00:00:52.485 COMPANIES TO GET THEIR MONEY OUT AND THERE WERE 00:00:52.485 --> 00:00:52.552 COMPANIES TO GET THEIR MONEY OUT AND THERE WERE THOSE 00:00:52.552 --> 00:00:53.219 COMPANIES TO GET THEIR MONEY OUT AND THERE WERE THOSE THAT 00:00:53.219 --> 00:00:53.386 COMPANIES TO GET THEIR MONEY OUT AND THERE WERE THOSE THAT ARE 00:00:53.386 --> 00:00:53.620 AND THERE WERE THOSE THAT ARE 00:00:53.620 --> 00:00:55.188 AND THERE WERE THOSE THAT ARE SUPPORTIVE 00:00:55.188 --> 00:00:55.321 AND THERE WERE THOSE THAT ARE SUPPORTIVE OF 00:00:55.321 --> 00:00:55.355 AND THERE WERE THOSE THAT ARE SUPPORTIVE OF SVB. 00:00:55.355 --> 00:00:55.655 SUPPORTIVE OF SVB. 00:00:55.655 --> 00:00:56.423 SUPPORTIVE OF SVB. ONE 00:00:56.423 --> 00:00:56.656 SUPPORTIVE OF SVB. ONE THING 00:00:56.656 --> 00:00:57.690 SUPPORTIVE OF SVB. ONE THING IS 00:00:57.690 --> 00:00:57.924 SUPPORTIVE OF SVB. ONE THING IS THERE'S 00:00:57.924 --> 00:00:58.024 SUPPORTIVE OF SVB. ONE THING IS THERE'S A 00:00:58.024 --> 00:00:58.892 SUPPORTIVE OF SVB. ONE THING IS THERE'S A SENSE 00:00:58.892 --> 00:00:59.059 SUPPORTIVE OF SVB. ONE THING IS THERE'S A SENSE OF 00:00:59.059 --> 00:00:59.292 ONE THING IS THERE'S A SENSE OF 00:00:59.292 --> 00:00:59.325 ONE THING IS THERE'S A SENSE OF PRAGMATISM 00:00:59.325 --> 00:00:59.626 PRAGMATISM 00:00:59.626 --> 00:00:59.659 PRAGMATISM I'M 00:00:59.659 --> 00:01:00.593 PRAGMATISM I'M A 00:01:00.593 --> 00:01:00.960 PRAGMATISM I'M A LITTLE 00:01:00.960 --> 00:01:01.227 PRAGMATISM I'M A LITTLE SYMPATHETIC 00:01:01.227 --> 00:01:01.394 PRAGMATISM I'M A LITTLE SYMPATHETIC WHO 00:01:01.394 --> 00:01:01.561 PRAGMATISM I'M A LITTLE SYMPATHETIC WHO ON 00:01:01.561 --> 00:01:01.761 I'M A LITTLE SYMPATHETIC WHO ON 00:01:01.761 --> 00:01:02.262 I'M A LITTLE SYMPATHETIC WHO ON THURSDAY 00:01:02.262 --> 00:01:02.429 I'M A LITTLE SYMPATHETIC WHO ON THURSDAY STARTED 00:01:02.429 --> 00:01:03.063 I'M A LITTLE SYMPATHETIC WHO ON THURSDAY STARTED TELLING 00:01:03.063 --> 00:01:03.096 I'M A LITTLE SYMPATHETIC WHO ON THURSDAY STARTED TELLING THEIR 00:01:03.096 --> 00:01:03.296 THURSDAY STARTED TELLING THEIR 00:01:03.296 --> 00:01:03.463 THURSDAY STARTED TELLING THEIR PORTFOLIO 00:01:03.463 --> 00:01:03.596 THURSDAY STARTED TELLING THEIR PORTFOLIO COMPANIES 00:01:03.596 --> 00:01:03.797 THURSDAY STARTED TELLING THEIR PORTFOLIO COMPANIES YOU 00:01:03.797 --> 00:01:03.963 THURSDAY STARTED TELLING THEIR PORTFOLIO COMPANIES YOU MIGHT 00:01:03.963 --> 00:01:04.097 PORTFOLIO COMPANIES YOU MIGHT 00:01:04.097 --> 00:01:04.364 PORTFOLIO COMPANIES YOU MIGHT WANT 00:01:04.364 --> 00:01:04.431 PORTFOLIO COMPANIES YOU MIGHT WANT TO 00:01:04.431 --> 00:01:04.764 PORTFOLIO COMPANIES YOU MIGHT WANT TO GET 00:01:04.764 --> 00:01:06.166 PORTFOLIO COMPANIES YOU MIGHT WANT TO GET YOUR 00:01:06.166 --> 00:01:06.599 PORTFOLIO COMPANIES YOU MIGHT WANT TO GET YOUR MONEY 00:01:06.599 --> 00:01:06.633 PORTFOLIO COMPANIES YOU MIGHT WANT TO GET YOUR MONEY OUT 00:01:06.633 --> 00:01:06.866 WANT TO GET YOUR MONEY OUT 00:01:06.866 --> 00:01:07.300 WANT TO GET YOUR MONEY OUT ULTIMATELY 00:01:07.300 --> 00:01:07.634 WANT TO GET YOUR MONEY OUT ULTIMATELY THE 00:01:07.634 --> 00:01:07.967 WANT TO GET YOUR MONEY OUT ULTIMATELY THE RESPONSIBLE 00:01:07.967 --> 00:01:08.001 WANT TO GET YOUR MONEY OUT ULTIMATELY THE RESPONSIBLE SIT 00:01:08.001 --> 00:01:08.101 ULTIMATELY THE RESPONSIBLE SIT 00:01:08.101 --> 00:01:08.535 ULTIMATELY THE RESPONSIBLE SIT TO 00:01:08.535 --> 00:01:08.701 ULTIMATELY THE RESPONSIBLE SIT TO THEIR 00:01:08.701 --> 00:01:08.768 ULTIMATELY THE RESPONSIBLE SIT TO THEIR COMPANIES 00:01:08.768 --> 00:01:09.002 ULTIMATELY THE RESPONSIBLE SIT TO THEIR COMPANIES AND 00:01:09.002 --> 00:01:09.035 ULTIMATELY THE RESPONSIBLE SIT TO THEIR COMPANIES AND NOT 00:01:09.035 --> 00:01:09.169 ULTIMATELY THE RESPONSIBLE SIT TO THEIR COMPANIES AND NOT TO 00:01:09.169 --> 00:01:09.369 TO THEIR COMPANIES AND NOT TO 00:01:09.369 --> 00:01:09.469 TO THEIR COMPANIES AND NOT TO THE 00:01:09.469 --> 00:01:09.769 TO THEIR COMPANIES AND NOT TO THE BANK 00:01:09.769 --> 00:01:09.969 TO THEIR COMPANIES AND NOT TO THE BANK AND 00:01:09.969 --> 00:01:10.170 TO THEIR COMPANIES AND NOT TO THE BANK AND THIS 00:01:10.170 --> 00:01:10.270 TO THEIR COMPANIES AND NOT TO THE BANK AND THIS BANK 00:01:10.270 --> 00:01:10.570 TO THEIR COMPANIES AND NOT TO THE BANK AND THIS BANK HAS 00:01:10.570 --> 00:01:10.770 TO THEIR COMPANIES AND NOT TO THE BANK AND THIS BANK HAS DONE 00:01:10.770 --> 00:01:10.837 THE BANK AND THIS BANK HAS DONE 00:01:10.837 --> 00:01:11.171 THE BANK AND THIS BANK HAS DONE A 00:01:11.171 --> 00:01:11.471 THE BANK AND THIS BANK HAS DONE A LOT 00:01:11.471 --> 00:01:11.604 THE BANK AND THIS BANK HAS DONE A LOT OF 00:01:11.604 --> 00:01:12.605 THE BANK AND THIS BANK HAS DONE A LOT OF GOOD 00:01:12.605 --> 00:01:13.039 THE BANK AND THIS BANK HAS DONE A LOT OF GOOD FOR 00:01:13.039 --> 00:01:13.173 THE BANK AND THIS BANK HAS DONE A LOT OF GOOD FOR SILICON 00:01:13.173 --> 00:01:13.239 THE BANK AND THIS BANK HAS DONE A LOT OF GOOD FOR SILICON VALLEY 00:01:13.239 --> 00:01:13.339 A LOT OF GOOD FOR SILICON VALLEY 00:01:13.339 --> 00:01:13.440 A LOT OF GOOD FOR SILICON VALLEY AND 00:01:13.440 --> 00:01:13.706 A LOT OF GOOD FOR SILICON VALLEY AND WHAT 00:01:13.706 --> 00:01:14.174 A LOT OF GOOD FOR SILICON VALLEY AND WHAT THE 00:01:14.174 --> 00:01:14.274 A LOT OF GOOD FOR SILICON VALLEY AND WHAT THE DEMISE 00:01:14.274 --> 00:01:14.407 A LOT OF GOOD FOR SILICON VALLEY AND WHAT THE DEMISE WILL 00:01:14.407 --> 00:01:14.574 A LOT OF GOOD FOR SILICON VALLEY AND WHAT THE DEMISE WILL MEAN 00:01:14.574 --> 00:01:14.674 AND WHAT THE DEMISE WILL MEAN 00:01:14.674 --> 00:01:14.974 AND WHAT THE DEMISE WILL MEAN FOR 00:01:14.974 --> 00:01:16.910 AND WHAT THE DEMISE WILL MEAN FOR THE 00:01:16.910 --> 00:01:16.943 AND WHAT THE DEMISE WILL MEAN FOR THE FUTURE 00:01:16.943 --> 00:01:17.110 AND WHAT THE DEMISE WILL MEAN FOR THE FUTURE OF 00:01:17.110 --> 00:01:17.143 AND WHAT THE DEMISE WILL MEAN FOR THE FUTURE OF START-UP 00:01:17.143 --> 00:01:17.377 FOR THE FUTURE OF START-UP 00:01:17.377 --> 00:01:17.410 FOR THE FUTURE OF START-UP FORMATION. 00:01:17.410 --> 00:01:17.510 FORMATION. 00:01:17.510 --> 00:01:17.577 FORMATION. IF 00:01:17.577 --> 00:01:18.178 FORMATION. IF YOU 00:01:18.178 --> 00:01:18.611 FORMATION. IF YOU HAVE 00:01:18.611 --> 00:01:18.778 FORMATION. IF YOU HAVE PAYROLLS 00:01:18.778 --> 00:01:19.079 FORMATION. IF YOU HAVE PAYROLLS OR 00:01:19.079 --> 00:01:19.345 FORMATION. IF YOU HAVE PAYROLLS OR YOU'RE 00:01:19.345 --> 00:01:19.379 FORMATION. IF YOU HAVE PAYROLLS OR YOU'RE A 00:01:19.379 --> 00:01:19.546 IF YOU HAVE PAYROLLS OR YOU'RE A 00:01:19.546 --> 00:01:20.313 IF YOU HAVE PAYROLLS OR YOU'RE A COMPANY 00:01:20.313 --> 00:01:20.580 IF YOU HAVE PAYROLLS OR YOU'RE A COMPANY WITH 00:01:20.580 --> 00:01:21.047 IF YOU HAVE PAYROLLS OR YOU'RE A COMPANY WITH PAYROLLS 00:01:21.047 --> 00:01:21.548 IF YOU HAVE PAYROLLS OR YOU'RE A COMPANY WITH PAYROLLS NEXT 00:01:21.548 --> 00:01:21.581 IF YOU HAVE PAYROLLS OR YOU'RE A COMPANY WITH PAYROLLS NEXT WEEK, 00:01:21.581 --> 00:01:21.748 COMPANY WITH PAYROLLS NEXT WEEK, 00:01:21.748 --> 00:01:21.981 COMPANY WITH PAYROLLS NEXT WEEK, THE 00:01:21.981 --> 00:01:22.248 COMPANY WITH PAYROLLS NEXT WEEK, THE PRAGMATIC 00:01:22.248 --> 00:01:22.315 COMPANY WITH PAYROLLS NEXT WEEK, THE PRAGMATIC THING 00:01:22.315 --> 00:01:22.348 COMPANY WITH PAYROLLS NEXT WEEK, THE PRAGMATIC THING TO 00:01:22.348 --> 00:01:22.749 COMPANY WITH PAYROLLS NEXT WEEK, THE PRAGMATIC THING TO DO 00:01:22.749 --> 00:01:23.283 COMPANY WITH PAYROLLS NEXT WEEK, THE PRAGMATIC THING TO DO WAS 00:01:23.283 --> 00:01:23.316 COMPANY WITH PAYROLLS NEXT WEEK, THE PRAGMATIC THING TO DO WAS TO 00:01:23.316 --> 00:01:23.416 THE PRAGMATIC THING TO DO WAS TO 00:01:23.416 --> 00:01:23.616 THE PRAGMATIC THING TO DO WAS TO AT 00:01:23.616 --> 00:01:23.983 THE PRAGMATIC THING TO DO WAS TO AT LEAST 00:01:23.983 --> 00:01:24.050 THE PRAGMATIC THING TO DO WAS TO AT LEAST DIVERSIFY 00:01:24.050 --> 00:01:24.317 THE PRAGMATIC THING TO DO WAS TO AT LEAST DIVERSIFY AND 00:01:24.317 --> 00:01:24.684 THE PRAGMATIC THING TO DO WAS TO AT LEAST DIVERSIFY AND MAKE 00:01:24.684 --> 00:01:24.717 THE PRAGMATIC THING TO DO WAS TO AT LEAST DIVERSIFY AND MAKE SURE 00:01:24.717 --> 00:01:24.818 AT LEAST DIVERSIFY AND MAKE SURE 00:01:24.818 --> 00:01:24.951 AT LEAST DIVERSIFY AND MAKE SURE YOU 00:01:24.951 --> 00:01:26.119 AT LEAST DIVERSIFY AND MAKE SURE YOU WOULD 00:01:26.119 --> 00:01:26.486 AT LEAST DIVERSIFY AND MAKE SURE YOU WOULD HAVE 00:01:26.486 --> 00:01:26.519 AT LEAST DIVERSIFY AND MAKE SURE YOU WOULD HAVE CASH. 00:01:26.519 --> 00:01:26.719 YOU WOULD HAVE CASH. 00:01:26.719 --> 00:01:28.321 YOU WOULD HAVE CASH. REMEMBER, 00:01:28.321 --> 00:01:28.388 YOU WOULD HAVE CASH. REMEMBER, EVERYONE 00:01:28.388 --> 00:01:28.521 YOU WOULD HAVE CASH. REMEMBER, EVERYONE WHO 00:01:28.521 --> 00:01:28.555 YOU WOULD HAVE CASH. REMEMBER, EVERYONE WHO WAS 00:01:28.555 --> 00:01:28.721 REMEMBER, EVERYONE WHO WAS 00:01:28.721 --> 00:01:28.788 REMEMBER, EVERYONE WHO WAS FREAKED 00:01:28.788 --> 00:01:29.355 REMEMBER, EVERYONE WHO WAS FREAKED OUT 00:01:29.355 --> 00:01:29.522 REMEMBER, EVERYONE WHO WAS FREAKED OUT ON 00:01:29.522 --> 00:01:29.756 REMEMBER, EVERYONE WHO WAS FREAKED OUT ON SATURDAY, 00:01:29.756 --> 00:01:29.789 REMEMBER, EVERYONE WHO WAS FREAKED OUT ON SATURDAY, THOSE 00:01:29.789 --> 00:01:29.956 FREAKED OUT ON SATURDAY, THOSE 00:01:29.956 --> 00:01:30.423 FREAKED OUT ON SATURDAY, THOSE WERE 00:01:30.423 --> 00:01:30.590 FREAKED OUT ON SATURDAY, THOSE WERE THE 00:01:30.590 --> 00:01:30.657 FREAKED OUT ON SATURDAY, THOSE WERE THE COMPANIES 00:01:30.657 --> 00:01:30.790 FREAKED OUT ON SATURDAY, THOSE WERE THE COMPANIES THAT 00:01:30.790 --> 00:01:30.824 FREAKED OUT ON SATURDAY, THOSE WERE THE COMPANIES THAT DIDN'T 00:01:30.824 --> 00:01:30.957 WERE THE COMPANIES THAT DIDN'T 00:01:30.957 --> 00:01:31.491 WERE THE COMPANIES THAT DIDN'T PULL 00:01:31.491 --> 00:01:31.825 WERE THE COMPANIES THAT DIDN'T PULL THEIR 00:01:31.825 --> 00:01:32.092 WERE THE COMPANIES THAT DIDN'T PULL THEIR MONEY 00:01:32.092 --> 00:01:32.125 WERE THE COMPANIES THAT DIDN'T PULL THEIR MONEY OUT 00:01:32.125 --> 00:01:32.325 PULL THEIR MONEY OUT 00:01:32.325 --> 00:01:32.592 PULL THEIR MONEY OUT THEY 00:01:32.592 --> 00:01:32.725 PULL THEIR MONEY OUT THEY COULD 00:01:32.725 --> 00:01:32.959 PULL THEIR MONEY OUT THEY COULD HAVE 00:01:32.959 --> 00:01:33.693 PULL THEIR MONEY OUT THEY COULD HAVE HAD 00:01:33.693 --> 00:01:33.726 PULL THEIR MONEY OUT THEY COULD HAVE HAD REAL 00:01:33.726 --> 00:01:33.927 THEY COULD HAVE HAD REAL 00:01:33.927 --> 00:01:34.627 THEY COULD HAVE HAD REAL PROBLEMS 00:01:34.627 --> 00:01:34.761 THEY COULD HAVE HAD REAL PROBLEMS AND 00:01:34.761 --> 00:01:34.961 THEY COULD HAVE HAD REAL PROBLEMS AND THERE'S 00:01:34.961 --> 00:01:35.228 THEY COULD HAVE HAD REAL PROBLEMS AND THERE'S AN 00:01:35.228 --> 00:01:35.261 THEY COULD HAVE HAD REAL PROBLEMS AND THERE'S AN ENORMOUS 00:01:35.261 --> 00:01:35.428 PROBLEMS AND THERE'S AN ENORMOUS 00:01:35.428 --> 00:01:36.062 PROBLEMS AND THERE'S AN ENORMOUS AMOUNT 00:01:36.062 --> 00:01:36.329 PROBLEMS AND THERE'S AN ENORMOUS AMOUNT OF 00:01:36.329 --> 00:01:36.529 PROBLEMS AND THERE'S AN ENORMOUS AMOUNT OF ANIMOSITY 00:01:36.529 --> 00:01:36.796 PROBLEMS AND THERE'S AN ENORMOUS AMOUNT OF ANIMOSITY AND 00:01:36.796 --> 00:01:36.963 PROBLEMS AND THERE'S AN ENORMOUS AMOUNT OF ANIMOSITY AND BAD 00:01:36.963 --> 00:01:37.097 AMOUNT OF ANIMOSITY AND BAD 00:01:37.097 --> 00:01:37.263 AMOUNT OF ANIMOSITY AND BAD BLOOD 00:01:37.263 --> 00:01:37.464 AMOUNT OF ANIMOSITY AND BAD BLOOD RIGHT 00:01:37.464 --> 00:01:37.730 AMOUNT OF ANIMOSITY AND BAD BLOOD RIGHT NOW 00:01:37.730 --> 00:01:38.565 AMOUNT OF ANIMOSITY AND BAD BLOOD RIGHT NOW AND 00:01:38.565 --> 00:01:38.731 AMOUNT OF ANIMOSITY AND BAD BLOOD RIGHT NOW AND I'M 00:01:38.731 --> 00:01:38.965 BLOOD RIGHT NOW AND I'M 00:01:38.965 --> 00:01:39.032 BLOOD RIGHT NOW AND I'M SYMPATHETIC 00:01:39.032 --> 00:01:39.199 BLOOD RIGHT NOW AND I'M SYMPATHETIC TO 00:01:39.199 --> 00:01:39.332 BLOOD RIGHT NOW AND I'M SYMPATHETIC TO BOTH 00:01:39.332 --> 00:01:42.435 BLOOD RIGHT NOW AND I'M SYMPATHETIC TO BOTH POINTS 00:01:42.435 --> 00:01:42.602 BLOOD RIGHT NOW AND I'M SYMPATHETIC TO BOTH POINTS OF 00:01:42.602 --> 00:01:42.769 SYMPATHETIC TO BOTH POINTS OF 00:01:42.769 --> 00:01:42.802 SYMPATHETIC TO BOTH POINTS OF VIEW 00:01:42.802 --> 00:01:43.670 VIEW 00:01:43.670 --> 00:01:43.736 VIEW >> 00:01:43.736 --> 00:01:43.837 VIEW >> DUNK 00:01:43.837 --> 00:01:44.037 VIEW >> DUNK A 00:01:44.037 --> 00:01:44.137 VIEW >> DUNKCAN, 00:01:44.137 --> 00:01:44.270 VIEW >> DUNKCAN, HAVE 00:01:44.270 --> 00:01:44.737 VIEW >> DUNKCAN, HAVE YOU 00:01:44.737 --> 00:01:44.771 VIEW >> DUNKCAN, HAVE YOU SEEN 00:01:44.771 --> 00:01:44.971 >> DUNKCAN, HAVE YOU SEEN 00:01:44.971 --> 00:01:45.038 >> DUNKCAN, HAVE YOU SEEN ANYTHING 00:01:45.038 --> 00:01:45.438 >> DUNKCAN, HAVE YOU SEEN ANYTHING LIKE 00:01:45.438 --> 00:01:45.939 >> DUNKCAN, HAVE YOU SEEN ANYTHING LIKE THIS 00:01:45.939 --> 00:01:45.972 >> DUNKCAN, HAVE YOU SEEN ANYTHING LIKE THIS BEFORE? 00:01:45.972 --> 00:01:46.072 ANYTHING LIKE THIS BEFORE? 00:01:46.072 --> 00:01:46.206 ANYTHING LIKE THIS BEFORE? >> 00:01:46.206 --> 00:01:46.573 ANYTHING LIKE THIS BEFORE? >> I'VE 00:01:46.573 --> 00:01:46.973 ANYTHING LIKE THIS BEFORE? >> I'VE SEEN 00:01:46.973 --> 00:01:47.073 ANYTHING LIKE THIS BEFORE? >> I'VE SEEN BANK 00:01:47.073 --> 00:01:47.240 ANYTHING LIKE THIS BEFORE? >> I'VE SEEN BANK RUNS 00:01:47.240 --> 00:01:47.373 ANYTHING LIKE THIS BEFORE? >> I'VE SEEN BANK RUNS AND 00:01:47.373 --> 00:01:47.407 ANYTHING LIKE THIS BEFORE? >> I'VE SEEN BANK RUNS AND ALL 00:01:47.407 --> 00:01:47.640 >> I'VE SEEN BANK RUNS AND ALL 00:01:47.640 --> 00:01:47.774 >> I'VE SEEN BANK RUNS AND ALL BANK 00:01:47.774 --> 00:01:47.874 >> I'VE SEEN BANK RUNS AND ALL BANK RUNS 00:01:47.874 --> 00:01:48.575 >> I'VE SEEN BANK RUNS AND ALL BANK RUNS ARE 00:01:48.575 --> 00:01:49.008 >> I'VE SEEN BANK RUNS AND ALL BANK RUNS ARE UNHAPPY 00:01:49.008 --> 00:01:49.142 >> I'VE SEEN BANK RUNS AND ALL BANK RUNS ARE UNHAPPY IN 00:01:49.142 --> 00:01:49.242 >> I'VE SEEN BANK RUNS AND ALL BANK RUNS ARE UNHAPPY IN THEIR 00:01:49.242 --> 00:01:49.542 BANK RUNS ARE UNHAPPY IN THEIR 00:01:49.542 --> 00:01:49.809 BANK RUNS ARE UNHAPPY IN THEIR OWN 00:01:49.809 --> 00:01:49.843 BANK RUNS ARE UNHAPPY IN THEIR OWN WAY. 00:01:49.843 --> 00:01:49.976 OWN WAY. 00:01:49.976 --> 00:01:50.043 OWN WAY. THIS 00:01:50.043 --> 00:01:50.210 OWN WAY. THIS ONE 00:01:50.210 --> 00:01:50.710 OWN WAY. THIS ONE WAS 00:01:50.710 --> 00:01:51.044 OWN WAY. THIS ONE WAS SO 00:01:51.044 --> 00:01:51.211 OWN WAY. THIS ONE WAS SO AVOIDABLE, 00:01:51.211 --> 00:01:51.511 OWN WAY. THIS ONE WAS SO AVOIDABLE, MY 00:01:51.511 --> 00:01:51.644 THIS ONE WAS SO AVOIDABLE, MY 00:01:51.644 --> 00:01:51.744 THIS ONE WAS SO AVOIDABLE, MY GOD, 00:01:51.744 --> 00:01:51.911 THIS ONE WAS SO AVOIDABLE, MY GOD, WHAT 00:01:51.911 --> 00:01:52.245 THIS ONE WAS SO AVOIDABLE, MY GOD, WHAT A 00:01:52.245 --> 00:01:52.445 THIS ONE WAS SO AVOIDABLE, MY GOD, WHAT A DUMB 00:01:52.445 --> 00:01:52.479 THIS ONE WAS SO AVOIDABLE, MY GOD, WHAT A DUMB THING 00:01:52.479 --> 00:01:52.846 THIS ONE WAS SO AVOIDABLE, MY GOD, WHAT A DUMB THING TO 00:01:52.846 --> 00:01:53.146 THIS ONE WAS SO AVOIDABLE, MY GOD, WHAT A DUMB THING TO SAY 00:01:53.146 --> 00:01:53.179 THIS ONE WAS SO AVOIDABLE, MY GOD, WHAT A DUMB THING TO SAY IN 00:01:53.179 --> 00:01:53.413 GOD, WHAT A DUMB THING TO SAY IN 00:01:53.413 --> 00:01:54.681 GOD, WHAT A DUMB THING TO SAY IN A 00:01:54.681 --> 00:01:54.914 GOD, WHAT A DUMB THING TO SAY IN A CEO 00:01:54.914 --> 00:01:54.948 GOD, WHAT A DUMB THING TO SAY IN A CEO CONVERSATION 00:01:54.948 --> 00:01:55.515 A CEO CONVERSATION 00:01:55.515 --> 00:01:55.882 A CEO CONVERSATION DON'T 00:01:55.882 --> 00:01:55.915 A CEO CONVERSATION DON'T PANIC? 00:01:55.915 --> 00:01:56.082 DON'T PANIC? 00:01:56.082 --> 00:01:56.182 DON'T PANIC? THAT'S 00:01:56.182 --> 00:01:56.883 DON'T PANIC? THAT'S WHY 00:01:56.883 --> 00:01:57.083 DON'T PANIC? THAT'S WHY EVERYONE 00:01:57.083 --> 00:01:57.117 DON'T PANIC? THAT'S WHY EVERYONE PANICKED 00:01:57.117 --> 00:01:57.250 THAT'S WHY EVERYONE PANICKED 00:01:57.250 --> 00:01:57.617 THAT'S WHY EVERYONE PANICKED DAN 00:01:57.617 --> 00:01:57.917 THAT'S WHY EVERYONE PANICKED DAN IS 00:01:57.917 --> 00:01:58.418 THAT'S WHY EVERYONE PANICKED DAN IS EXACTLY 00:01:58.418 --> 00:01:58.451 THAT'S WHY EVERYONE PANICKED DAN IS EXACTLY RIGHT 00:01:58.451 --> 00:01:58.551 DAN IS EXACTLY RIGHT 00:01:58.551 --> 00:01:58.618 DAN IS EXACTLY RIGHT WE 00:01:58.618 --> 00:01:58.718 DAN IS EXACTLY RIGHT WE HAD 00:01:58.718 --> 00:01:58.852 DAN IS EXACTLY RIGHT WE HAD TO 00:01:58.852 --> 00:01:59.285 DAN IS EXACTLY RIGHT WE HAD TO TELL 00:01:59.285 --> 00:02:00.086 DAN IS EXACTLY RIGHT WE HAD TO TELL OUR 00:02:00.086 --> 00:02:00.120 DAN IS EXACTLY RIGHT WE HAD TO TELL OUR COMPANIES 00:02:00.120 --> 00:02:00.520 WE HAD TO TELL OUR COMPANIES 00:02:00.520 --> 00:02:00.820 WE HAD TO TELL OUR COMPANIES EVEN 00:02:00.820 --> 00:02:01.087 WE HAD TO TELL OUR COMPANIES EVEN THOUGH 00:02:01.087 --> 00:02:01.354 WE HAD TO TELL OUR COMPANIES EVEN THOUGH WE 00:02:01.354 --> 00:02:01.421 WE HAD TO TELL OUR COMPANIES EVEN THOUGH WE KNEW 00:02:01.421 --> 00:02:01.621 WE HAD TO TELL OUR COMPANIES EVEN THOUGH WE KNEW IT 00:02:01.621 --> 00:02:01.654 WE HAD TO TELL OUR COMPANIES EVEN THOUGH WE KNEW IT WOULD 00:02:01.654 --> 00:02:01.788 EVEN THOUGH WE KNEW IT WOULD 00:02:01.788 --> 00:02:01.855 EVEN THOUGH WE KNEW IT WOULD LEAVE 00:02:01.855 --> 00:02:03.323 EVEN THOUGH WE KNEW IT WOULD LEAVE TO 00:02:03.323 --> 00:02:03.756 EVEN THOUGH WE KNEW IT WOULD LEAVE TO THE 00:02:03.756 --> 00:02:03.890 EVEN THOUGH WE KNEW IT WOULD LEAVE TO THE CONTAGION, 00:02:03.890 --> 00:02:03.990 EVEN THOUGH WE KNEW IT WOULD LEAVE TO THE CONTAGION, THEY 00:02:03.990 --> 00:02:04.124 LEAVE TO THE CONTAGION, THEY 00:02:04.124 --> 00:02:04.257 LEAVE TO THE CONTAGION, THEY HAVE 00:02:04.257 --> 00:02:04.924 LEAVE TO THE CONTAGION, THEY HAVE TO 00:02:04.924 --> 00:02:05.925 LEAVE TO THE CONTAGION, THEY HAVE TO PROTECT 00:02:05.925 --> 00:02:05.959 LEAVE TO THE CONTAGION, THEY HAVE TO PROTECT THEMSELVES 00:02:05.959 --> 00:02:06.092 HAVE TO PROTECT THEMSELVES 00:02:06.092 --> 00:02:06.192 HAVE TO PROTECT THEMSELVES THEY 00:02:06.192 --> 00:02:06.259 HAVE TO PROTECT THEMSELVES THEY CAN'T 00:02:06.259 --> 00:02:06.659 HAVE TO PROTECT THEMSELVES THEY CAN'T MAKE 00:02:06.659 --> 00:02:06.826 HAVE TO PROTECT THEMSELVES THEY CAN'T MAKE PAYROLL, 00:02:06.826 --> 00:02:07.393 HAVE TO PROTECT THEMSELVES THEY CAN'T MAKE PAYROLL, THEY 00:02:07.393 --> 00:02:07.427 HAVE TO PROTECT THEMSELVES THEY CAN'T MAKE PAYROLL, THEY GO 00:02:07.427 --> 00:02:07.861 THEY CAN'T MAKE PAYROLL, THEY GO 00:02:07.861 --> 00:02:07.894 THEY CAN'T MAKE PAYROLL, THEY GO DOWN 00:02:07.894 --> 00:02:08.094 DOWN 00:02:08.094 --> 00:02:08.261 DOWN THEY 00:02:08.261 --> 00:02:08.595 DOWN THEY GO 00:02:08.595 --> 00:02:08.661 DOWN THEY GO UNDER 00:02:08.661 --> 00:02:08.962 DOWN THEY GO UNDER AND 00:02:08.962 --> 00:02:09.462 DOWN THEY GO UNDER AND IT'S 00:02:09.462 --> 00:02:09.496 DOWN THEY GO UNDER AND IT'S A 00:02:09.496 --> 00:02:10.029 THEY GO UNDER AND IT'S A 00:02:10.029 --> 00:02:10.163 THEY GO UNDER AND IT'S A PRISONER'S 00:02:10.163 --> 00:02:10.497 THEY GO UNDER AND IT'S A PRISONER'S DILEMMA 00:02:10.497 --> 00:02:12.198 THEY GO UNDER AND IT'S A PRISONER'S DILEMMA AND 00:02:12.198 --> 00:02:12.365 THEY GO UNDER AND IT'S A PRISONER'S DILEMMA AND THAT'S 00:02:12.365 --> 00:02:12.465 PRISONER'S DILEMMA AND THAT'S 00:02:12.465 --> 00:02:12.565 PRISONER'S DILEMMA AND THAT'S YET 00:02:12.565 --> 00:02:12.732 PRISONER'S DILEMMA AND THAT'S YET WHOLE 00:02:12.732 --> 00:02:12.832 PRISONER'S DILEMMA AND THAT'S YET WHOLE INDUSTRY 00:02:12.832 --> 00:02:12.899 PRISONER'S DILEMMA AND THAT'S YET WHOLE INDUSTRY ACTED 00:02:12.899 --> 00:02:12.966 PRISONER'S DILEMMA AND THAT'S YET WHOLE INDUSTRY ACTED THE 00:02:12.966 --> 00:02:12.999 PRISONER'S DILEMMA AND THAT'S YET WHOLE INDUSTRY ACTED THE WAY 00:02:12.999 --> 00:02:13.199 YET WHOLE INDUSTRY ACTED THE WAY 00:02:13.199 --> 00:02:13.299 YET WHOLE INDUSTRY ACTED THE WAY IT 00:02:13.299 --> 00:02:13.399 YET WHOLE INDUSTRY ACTED THE WAY IT ACTED. 00:02:13.399 --> 00:02:13.500 IT ACTED. 00:02:13.500 --> 00:02:13.600 IT ACTED. >> 00:02:13.600 --> 00:02:13.666 IT ACTED. >> WOULD 00:02:13.666 --> 00:02:14.100 IT ACTED. >> WOULD YOU 00:02:14.100 --> 00:02:14.267 IT ACTED. >> WOULD YOU HAVE 00:02:14.267 --> 00:02:14.400 IT ACTED. >> WOULD YOU HAVE STEPPED 00:02:14.400 --> 00:02:14.834 IT ACTED. >> WOULD YOU HAVE STEPPED UP 00:02:14.834 --> 00:02:14.868 IT ACTED. >> WOULD YOU HAVE STEPPED UP AND 00:02:14.868 --> 00:02:15.235 >> WOULD YOU HAVE STEPPED UP AND 00:02:15.235 --> 00:02:15.301 >> WOULD YOU HAVE STEPPED UP AND PUT 00:02:15.301 --> 00:02:15.368 >> WOULD YOU HAVE STEPPED UP AND PUT IN 00:02:15.368 --> 00:02:15.768 >> WOULD YOU HAVE STEPPED UP AND PUT IN YOUR 00:02:15.768 --> 00:02:16.169 >> WOULD YOU HAVE STEPPED UP AND PUT IN YOUR PERSONAL 00:02:16.169 --> 00:02:16.503 >> WOULD YOU HAVE STEPPED UP AND PUT IN YOUR PERSONAL CAPITAL 00:02:16.503 --> 00:02:16.669 >> WOULD YOU HAVE STEPPED UP AND PUT IN YOUR PERSONAL CAPITAL TO 00:02:16.669 --> 00:02:16.803 PUT IN YOUR PERSONAL CAPITAL TO 00:02:16.803 --> 00:02:16.903 PUT IN YOUR PERSONAL CAPITAL TO HELP 00:02:16.903 --> 00:02:17.504 PUT IN YOUR PERSONAL CAPITAL TO HELP PEOPLE 00:02:17.504 --> 00:02:18.738 PUT IN YOUR PERSONAL CAPITAL TO HELP PEOPLE MAKE 00:02:18.738 --> 00:02:18.905 PUT IN YOUR PERSONAL CAPITAL TO HELP PEOPLE MAKE PAYROLL, 00:02:18.905 --> 00:02:19.072 HELP PEOPLE MAKE PAYROLL, 00:02:19.072 --> 00:02:19.105 HELP PEOPLE MAKE PAYROLL, DUNCAN 00:02:19.105 --> 00:02:19.272 DUNCAN 00:02:19.272 --> 00:02:19.305 DUNCAN >> 00:02:19.305 --> 00:02:20.173 DUNCAN >> WE 00:02:20.173 --> 00:02:20.206 DUNCAN >> WE AREN'T 00:02:20.206 --> 00:02:20.440 DUNCAN >> WE AREN'T IN 00:02:20.440 --> 00:02:20.707 DUNCAN >> WE AREN'T IN THAT 00:02:20.707 --> 00:02:20.874 DUNCAN >> WE AREN'T IN THAT SITUATION, 00:02:20.874 --> 00:02:20.974 >> WE AREN'T IN THAT SITUATION, 00:02:20.974 --> 00:02:21.040 >> WE AREN'T IN THAT SITUATION, AND 00:02:21.040 --> 00:02:22.108 >> WE AREN'T IN THAT SITUATION, AND WE 00:02:22.108 --> 00:02:22.342 >> WE AREN'T IN THAT SITUATION, AND WE ARE 00:02:22.342 --> 00:02:22.909 >> WE AREN'T IN THAT SITUATION, AND WE ARE FAIRLY 00:02:22.909 --> 00:02:23.109 >> WE AREN'T IN THAT SITUATION, AND WE ARE FAIRLY WELL 00:02:23.109 --> 00:02:23.143 >> WE AREN'T IN THAT SITUATION, AND WE ARE FAIRLY WELL PROTECTED 00:02:23.143 --> 00:02:23.243 AND WE ARE FAIRLY WELL PROTECTED 00:02:23.243 --> 00:02:23.343 AND WE ARE FAIRLY WELL PROTECTED IN 00:02:23.343 --> 00:02:24.043 AND WE ARE FAIRLY WELL PROTECTED IN OUR 00:02:24.043 --> 00:02:24.310 AND WE ARE FAIRLY WELL PROTECTED IN OUR PORTFOLIO, 00:02:24.310 --> 00:02:24.644 AND WE ARE FAIRLY WELL PROTECTED IN OUR PORTFOLIO, FINGERS 00:02:24.644 --> 00:02:24.844 IN OUR PORTFOLIO, FINGERS 00:02:24.844 --> 00:02:24.911 IN OUR PORTFOLIO, FINGERS CROSSED, 00:02:24.911 --> 00:02:25.011 IN OUR PORTFOLIO, FINGERS CROSSED, BUT 00:02:25.011 --> 00:02:25.311 IN OUR PORTFOLIO, FINGERS CROSSED, BUT I 00:02:25.311 --> 00:02:25.678 IN OUR PORTFOLIO, FINGERS CROSSED, BUT I THINK 00:02:25.678 --> 00:02:25.879 IN OUR PORTFOLIO, FINGERS CROSSED, BUT I THINK THE 00:02:25.879 --> 00:02:26.045 IN OUR PORTFOLIO, FINGERS CROSSED, BUT I THINK THE BIGGER 00:02:26.045 --> 00:02:26.179 CROSSED, BUT I THINK THE BIGGER 00:02:26.179 --> 00:02:26.346 CROSSED, BUT I THINK THE BIGGER ISSUE 00:02:26.346 --> 00:02:26.379 CROSSED, BUT I THINK THE BIGGER ISSUE HERE 00:02:26.379 --> 00:02:26.779 CROSSED, BUT I THINK THE BIGGER ISSUE HERE IS 00:02:26.779 --> 00:02:27.046 CROSSED, BUT I THINK THE BIGGER ISSUE HERE IS THIS, 00:02:27.046 --> 00:02:27.213 CROSSED, BUT I THINK THE BIGGER ISSUE HERE IS THIS, THE 00:02:27.213 --> 00:02:27.380 CROSSED, BUT I THINK THE BIGGER ISSUE HERE IS THIS, THE SPEED 00:02:27.380 --> 00:02:27.614 ISSUE HERE IS THIS, THE SPEED 00:02:27.614 --> 00:02:27.881 ISSUE HERE IS THIS, THE SPEED WITH 00:02:27.881 --> 00:02:28.181 ISSUE HERE IS THIS, THE SPEED WITH WHICH 00:02:28.181 --> 00:02:28.515 ISSUE HERE IS THIS, THE SPEED WITH WHICH THEY 00:02:28.515 --> 00:02:28.581 ISSUE HERE IS THIS, THE SPEED WITH WHICH THEY CAME 00:02:28.581 --> 00:02:28.648 ISSUE HERE IS THIS, THE SPEED WITH WHICH THEY CAME INTO 00:02:28.648 --> 00:02:28.982 ISSUE HERE IS THIS, THE SPEED WITH WHICH THEY CAME INTO THE 00:02:28.982 --> 00:02:29.149 WITH WHICH THEY CAME INTO THE 00:02:29.149 --> 00:02:29.916 WITH WHICH THEY CAME INTO THE MARKET, 00:02:29.916 --> 00:02:30.250 WITH WHICH THEY CAME INTO THE MARKET, THE 00:02:30.250 --> 00:02:30.817 WITH WHICH THEY CAME INTO THE MARKET, THE REGULATORS 00:02:30.817 --> 00:02:30.850 WITH WHICH THEY CAME INTO THE MARKET, THE REGULATORS WAS 00:02:30.850 --> 00:02:32.385 MARKET, THE REGULATORS WAS 00:02:32.385 --> 00:02:32.452 MARKET, THE REGULATORS WAS ACTUALLY 00:02:32.452 --> 00:02:32.585 MARKET, THE REGULATORS WAS ACTUALLY TOO 00:02:32.585 --> 00:02:32.619 MARKET, THE REGULATORS WAS ACTUALLY TOO SLOW. 00:02:32.619 --> 00:02:32.719 ACTUALLY TOO SLOW. 00:02:32.719 --> 00:02:32.785 ACTUALLY TOO SLOW. WE 00:02:32.785 --> 00:02:33.653 ACTUALLY TOO SLOW. WE ALL 00:02:33.653 --> 00:02:33.753 ACTUALLY TOO SLOW. WE ALL REMEMBER 00:02:33.753 --> 00:02:33.953 ACTUALLY TOO SLOW. WE ALL REMEMBER IT'S 00:02:33.953 --> 00:02:34.454 ACTUALLY TOO SLOW. WE ALL REMEMBER IT'S A 00:02:34.454 --> 00:02:34.487 ACTUALLY TOO SLOW. WE ALL REMEMBER IT'S A WONDERFUL 00:02:34.487 --> 00:02:34.654 WE ALL REMEMBER IT'S A WONDERFUL 00:02:34.654 --> 00:02:35.021 WE ALL REMEMBER IT'S A WONDERFUL LIFE 00:02:35.021 --> 00:02:35.421 WE ALL REMEMBER IT'S A WONDERFUL LIFE AND 00:02:35.421 --> 00:02:35.655 WE ALL REMEMBER IT'S A WONDERFUL LIFE AND YOU 00:02:35.655 --> 00:02:35.889 WE ALL REMEMBER IT'S A WONDERFUL LIFE AND YOU GO 00:02:35.889 --> 00:02:35.922 WE ALL REMEMBER IT'S A WONDERFUL LIFE AND YOU GO DOWN 00:02:35.922 --> 00:02:36.156 WE ALL REMEMBER IT'S A WONDERFUL LIFE AND YOU GO DOWN TO 00:02:36.156 --> 00:02:36.389 WE ALL REMEMBER IT'S A WONDERFUL LIFE AND YOU GO DOWN TO THE 00:02:36.389 --> 00:02:36.422 WE ALL REMEMBER IT'S A WONDERFUL LIFE AND YOU GO DOWN TO THE BANK 00:02:36.422 --> 00:02:36.556 LIFE AND YOU GO DOWN TO THE BANK 00:02:36.556 --> 00:02:36.623 LIFE AND YOU GO DOWN TO THE BANK AND 00:02:36.623 --> 00:02:36.856 LIFE AND YOU GO DOWN TO THE BANK AND GET 00:02:36.856 --> 00:02:37.123 LIFE AND YOU GO DOWN TO THE BANK AND GET YOUR 00:02:37.123 --> 00:02:37.257 LIFE AND YOU GO DOWN TO THE BANK AND GET YOUR MONEY 00:02:37.257 --> 00:02:37.423 LIFE AND YOU GO DOWN TO THE BANK AND GET YOUR MONEY OUT 00:02:37.423 --> 00:02:37.757 LIFE AND YOU GO DOWN TO THE BANK AND GET YOUR MONEY OUT AND 00:02:37.757 --> 00:02:37.790 LIFE AND YOU GO DOWN TO THE BANK AND GET YOUR MONEY OUT AND YOU 00:02:37.790 --> 00:02:37.924 AND GET YOUR MONEY OUT AND YOU 00:02:37.924 --> 00:02:37.991 AND GET YOUR MONEY OUT AND YOU HAVE 00:02:37.991 --> 00:02:38.191 AND GET YOUR MONEY OUT AND YOU HAVE TIME 00:02:38.191 --> 00:02:38.324 AND GET YOUR MONEY OUT AND YOU HAVE TIME TO 00:02:38.324 --> 00:02:38.625 AND GET YOUR MONEY OUT AND YOU HAVE TIME TO STOP 00:02:38.625 --> 00:02:38.925 AND GET YOUR MONEY OUT AND YOU HAVE TIME TO STOP A 00:02:38.925 --> 00:02:39.025 AND GET YOUR MONEY OUT AND YOU HAVE TIME TO STOP A BANK 00:02:39.025 --> 00:02:39.392 AND GET YOUR MONEY OUT AND YOU HAVE TIME TO STOP A BANK RUN 00:02:39.392 --> 00:02:39.425 AND GET YOUR MONEY OUT AND YOU HAVE TIME TO STOP A BANK RUN AND 00:02:39.425 --> 00:02:40.026 HAVE TIME TO STOP A BANK RUN AND 00:02:40.026 --> 00:02:40.226 HAVE TIME TO STOP A BANK RUN AND THE 00:02:40.226 --> 00:02:40.393 HAVE TIME TO STOP A BANK RUN AND THE REGULATORS 00:02:40.393 --> 00:02:40.627 HAVE TIME TO STOP A BANK RUN AND THE REGULATORS HAVE 00:02:40.627 --> 00:02:40.894 HAVE TIME TO STOP A BANK RUN AND THE REGULATORS HAVE NO 00:02:40.894 --> 00:02:40.994 HAVE TIME TO STOP A BANK RUN AND THE REGULATORS HAVE NO TIME 00:02:40.994 --> 00:02:41.161 HAVE TIME TO STOP A BANK RUN AND THE REGULATORS HAVE NO TIME AND 00:02:41.161 --> 00:02:41.261 THE REGULATORS HAVE NO TIME AND 00:02:41.261 --> 00:02:41.394 THE REGULATORS HAVE NO TIME AND IT 00:02:41.394 --> 00:02:43.196 THE REGULATORS HAVE NO TIME AND IT WAS 00:02:43.196 --> 00:02:43.263 THE REGULATORS HAVE NO TIME AND IT WAS TOO 00:02:43.263 --> 00:02:43.329 THE REGULATORS HAVE NO TIME AND IT WAS TOO SLOW 00:02:43.329 --> 00:02:43.463 THE REGULATORS HAVE NO TIME AND IT WAS TOO SLOW FOR 00:02:43.463 --> 00:02:43.630 THE REGULATORS HAVE NO TIME AND IT WAS TOO SLOW FOR SILICON 00:02:43.630 --> 00:02:43.796 IT WAS TOO SLOW FOR SILICON 00:02:43.796 --> 00:02:43.830 IT WAS TOO SLOW FOR SILICON VALLEY 00:02:43.830 --> 00:02:44.697 VALLEY 00:02:44.697 --> 00:02:44.764 VALLEY IF 00:02:44.764 --> 00:02:45.198 VALLEY IF THEY 00:02:45.198 --> 00:02:45.832 VALLEY IF THEY HAD 00:02:45.832 --> 00:02:46.566 VALLEY IF THEY HAD ASKED 00:02:46.566 --> 00:02:46.666 VALLEY IF THEY HAD ASKED GPT, 00:02:46.666 --> 00:02:47.200 VALLEY IF THEY HAD ASKED GPT, WHAT 00:02:47.200 --> 00:02:47.233 VALLEY IF THEY HAD ASKED GPT, WHAT DO 00:02:47.233 --> 00:02:47.433 IF THEY HAD ASKED GPT, WHAT DO 00:02:47.433 --> 00:02:47.800 IF THEY HAD ASKED GPT, WHAT DO WE 00:02:47.800 --> 00:02:47.834 IF THEY HAD ASKED GPT, WHAT DO WE DO? 00:02:47.834 --> 00:02:47.967 WE DO? 00:02:47.967 --> 00:02:48.067 WE DO? THEY 00:02:48.067 --> 00:02:48.268 WE DO? THEY WOULD 00:02:48.268 --> 00:02:48.434 WE DO? THEY WOULD HAVE 00:02:48.434 --> 00:02:48.968 WE DO? THEY WOULD HAVE GOTTEN 00:02:48.968 --> 00:02:49.369 WE DO? THEY WOULD HAVE GOTTEN A 00:02:49.369 --> 00:02:49.402 WE DO? THEY WOULD HAVE GOTTEN A QUICKER 00:02:49.402 --> 00:02:49.569 THEY WOULD HAVE GOTTEN A QUICKER 00:02:49.569 --> 00:02:49.636 THEY WOULD HAVE GOTTEN A QUICKER ANSWER 00:02:49.636 --> 00:02:49.903 THEY WOULD HAVE GOTTEN A QUICKER ANSWER THAN 00:02:49.903 --> 00:02:52.105 THEY WOULD HAVE GOTTEN A QUICKER ANSWER THAN WHAT 00:02:52.105 --> 00:02:52.539 THEY WOULD HAVE GOTTEN A QUICKER ANSWER THAN WHAT THEY 00:02:52.539 --> 00:02:52.705 THEY WOULD HAVE GOTTEN A QUICKER ANSWER THAN WHAT THEY RESPONDED 00:02:52.705 --> 00:02:52.872 ANSWER THAN WHAT THEY RESPONDED 00:02:52.872 --> 00:02:52.906 ANSWER THAN WHAT THEY RESPONDED WITH 00:02:52.906 --> 00:02:52.972 WITH 00:02:52.972 --> 00:02:53.072 WITH I 00:02:53.072 --> 00:02:53.139 WITH I THINK 00:02:53.139 --> 00:02:53.473 WITH I THINK THE 00:02:53.473 --> 00:02:53.506 WITH I THINK THE ANSWER 00:02:53.506 --> 00:02:55.675 WITH I THINK THE ANSWER IS 00:02:55.675 --> 00:02:55.742 WITH I THINK THE ANSWER IS NOT 00:02:55.742 --> 00:02:55.808 WITH I THINK THE ANSWER IS NOT TO 00:02:55.808 --> 00:02:55.875 WITH I THINK THE ANSWER IS NOT TO PUT 00:02:55.875 --> 00:02:56.910 I THINK THE ANSWER IS NOT TO PUT 00:02:56.910 --> 00:02:56.976 I THINK THE ANSWER IS NOT TO PUT MORE 00:02:56.976 --> 00:02:57.076 I THINK THE ANSWER IS NOT TO PUT MORE TARP 00:02:57.076 --> 00:02:57.143 I THINK THE ANSWER IS NOT TO PUT MORE TARP TRAIL 00:02:57.143 --> 00:02:57.243 I THINK THE ANSWER IS NOT TO PUT MORE TARP TRAIL ON 00:02:57.243 --> 00:02:57.877 I THINK THE ANSWER IS NOT TO PUT MORE TARP TRAIL ON TH 00:02:57.877 --> 00:02:57.977 I THINK THE ANSWER IS NOT TO PUT MORE TARP TRAPAPER 00:02:57.977 --> 00:02:58.044 I THINK THE ANSWER IS NOT TO PUT MORE TARP TRAPAPER TRAIL 00:02:58.044 --> 00:02:58.311 I THINK THE ANSWER IS NOT TO PUT MORE TARP TRAPAPER TRAIL ON 00:02:58.311 --> 00:02:58.745 I THINK THE ANSWER IS NOT TO PUT MORE TARP TRAPAPER TRAIL ON THE 00:02:58.745 --> 00:02:58.778 I THINK THE ANSWER IS NOT TO PUT MORE TARP TRAPAPER TRAIL ON THES 00:02:58.778 --> 00:02:58.878 MORE TARP TRAPAPER TRAIL ON THES 00:02:58.878 --> 00:02:59.812 MORE TARP TRAPAPER TRAIL ON THES AND 00:02:59.812 --> 00:03:00.947 MORE TARP TRAPAPER TRAIL ON THES AND THE 00:03:00.947 --> 00:03:01.014 MORE TARP TRAPAPER TRAIL ON THES AND THE INTERNET 00:03:01.014 --> 00:03:01.080 MORE TARP TRAPAPER TRAIL ON THES AND THE INTERNET GOES 00:03:01.080 --> 00:03:01.181 MORE TARP TRAPAPER TRAIL ON THES AND THE INTERNET GOES TOO 00:03:01.181 --> 00:03:01.247 MORE TARP TRAPAPER TRAIL ON THES AND THE INTERNET GOES TOO FAST. 00:03:01.247 --> 00:03:01.347 AND THE INTERNET GOES TOO FAST. 00:03:01.347 --> 00:03:01.414 AND THE INTERNET GOES TOO FAST. >> 00:03:01.414 --> 00:03:02.115 AND THE INTERNET GOES TOO FAST. >> DID 00:03:02.115 --> 00:03:02.215 AND THE INTERNET GOES TOO FAST. >> DID THEY 00:03:02.215 --> 00:03:02.348 AND THE INTERNET GOES TOO FAST. >> DID THEY REACH 00:03:02.348 --> 00:03:02.615 AND THE INTERNET GOES TOO FAST. >> DID THEY REACH OUT 00:03:02.615 --> 00:03:02.882 AND THE INTERNET GOES TOO FAST. >> DID THEY REACH OUT TO 00:03:02.882 --> 00:03:03.016 AND THE INTERNET GOES TOO FAST. >> DID THEY REACH OUT TO YOU 00:03:03.016 --> 00:03:03.049 AND THE INTERNET GOES TOO FAST. >> DID THEY REACH OUT TO YOU AND 00:03:03.049 --> 00:03:03.149 >> DID THEY REACH OUT TO YOU AND 00:03:03.149 --> 00:03:03.516 >> DID THEY REACH OUT TO YOU AND SAY 00:03:03.516 --> 00:03:03.650 >> DID THEY REACH OUT TO YOU AND SAY YOU 00:03:03.650 --> 00:03:04.083 >> DID THEY REACH OUT TO YOU AND SAY YOU ACTED 00:03:04.083 --> 00:03:04.517 >> DID THEY REACH OUT TO YOU AND SAY YOU ACTED TOO 00:03:04.517 --> 00:03:04.551 >> DID THEY REACH OUT TO YOU AND SAY YOU ACTED TOO QUICKLY? 00:03:04.551 --> 00:03:04.918 SAY YOU ACTED TOO QUICKLY? 00:03:04.918 --> 00:03:05.051 SAY YOU ACTED TOO QUICKLY? >> 00:03:05.051 --> 00:03:05.084 SAY YOU ACTED TOO QUICKLY? >> NO. 00:03:05.084 --> 00:03:05.485 >> NO. 00:03:05.485 --> 00:03:05.919 >> NO. THE 00:03:05.919 --> 00:03:05.985 >> NO. THE PROBLEM 00:03:05.985 --> 00:03:06.085 >> NO. THE PROBLEM WAS 00:03:06.085 --> 00:03:06.619 >> NO. THE PROBLEM WAS ONCE 00:03:06.619 --> 00:03:07.086 >> NO. THE PROBLEM WAS ONCE EVERYTHING 00:03:07.086 --> 00:03:07.287 THE PROBLEM WAS ONCE EVERYTHING 00:03:07.287 --> 00:03:07.387 THE PROBLEM WAS ONCE EVERYTHING CRATERED, 00:03:07.387 --> 00:03:07.487 THE PROBLEM WAS ONCE EVERYTHING CRATERED, WHAT 00:03:07.487 --> 00:03:07.620 THE PROBLEM WAS ONCE EVERYTHING CRATERED, WHAT ARE 00:03:07.620 --> 00:03:08.188 THE PROBLEM WAS ONCE EVERYTHING CRATERED, WHAT ARE YOU 00:03:08.188 --> 00:03:08.321 THE PROBLEM WAS ONCE EVERYTHING CRATERED, WHAT ARE YOU GOING 00:03:08.321 --> 00:03:08.488 THE PROBLEM WAS ONCE EVERYTHING CRATERED, WHAT ARE YOU GOING TO 00:03:08.488 --> 00:03:10.323 CRATERED, WHAT ARE YOU GOING TO 00:03:10.323 --> 00:03:10.356 CRATERED, WHAT ARE YOU GOING TO DO 00:03:10.356 --> 00:03:10.456 DO 00:03:10.456 --> 00:03:10.557 DO YOU 00:03:10.557 --> 00:03:10.590 DO YOU HAVE 00:03:10.590 --> 00:03:10.657 DO YOU HAVE NO 00:03:10.657 --> 00:03:10.723 DO YOU HAVE NO WAY 00:03:10.723 --> 00:03:10.790 DO YOU HAVE NO WAY OUT 00:03:10.790 --> 00:03:10.857 DO YOU HAVE NO WAY OUT OF 00:03:10.857 --> 00:03:10.890 DO YOU HAVE NO WAY OUT OF IT. 00:03:10.890 --> 00:03:10.957 YOU HAVE NO WAY OUT OF IT. 00:03:10.957 --> 00:03:11.057 YOU HAVE NO WAY OUT OF IT. A 00:03:11.057 --> 00:03:11.491 YOU HAVE NO WAY OUT OF IT. A BANK 00:03:11.491 --> 00:03:11.524 YOU HAVE NO WAY OUT OF IT. A BANK RUN 00:03:11.524 --> 00:03:12.492 YOU HAVE NO WAY OUT OF IT. A BANK RUN IS 00:03:12.492 --> 00:03:12.992 YOU HAVE NO WAY OUT OF IT. A BANK RUN IS A 00:03:12.992 --> 00:03:14.394 YOU HAVE NO WAY OUT OF IT. A BANK RUN IS A HUMAN 00:03:14.394 --> 00:03:14.427 YOU HAVE NO WAY OUT OF IT. A BANK RUN IS A HUMAN PSYCHOLOGY 00:03:14.427 --> 00:03:14.627 A BANK RUN IS A HUMAN PSYCHOLOGY 00:03:14.627 --> 00:03:14.661 A BANK RUN IS A HUMAN PSYCHOLOGY PROBLEM. 00:03:14.661 --> 00:03:14.761 PROBLEM. 00:03:14.761 --> 00:03:14.861 PROBLEM. YOU 00:03:14.861 --> 00:03:14.961 PROBLEM. YOU DON'T 00:03:14.961 --> 00:03:15.228 PROBLEM. YOU DON'T SOLVE 00:03:15.228 --> 00:03:16.462 PROBLEM. YOU DON'T SOLVE IT 00:03:16.462 --> 00:03:16.963 PROBLEM. YOU DON'T SOLVE IT BY 00:03:16.963 --> 00:03:16.996 PROBLEM. YOU DON'T SOLVE IT BY SAYING 00:03:16.996 --> 00:03:17.130 YOU DON'T SOLVE IT BY SAYING 00:03:17.130 --> 00:03:17.197 YOU DON'T SOLVE IT BY SAYING DON'T 00:03:17.197 --> 00:03:17.297 YOU DON'T SOLVE IT BY SAYING DON'T ACT 00:03:17.297 --> 00:03:17.964 YOU DON'T SOLVE IT BY SAYING DON'T ACT LIKE 00:03:17.964 --> 00:03:18.598 YOU DON'T SOLVE IT BY SAYING DON'T ACT LIKE EVERYBODY 00:03:18.598 --> 00:03:18.631 YOU DON'T SOLVE IT BY SAYING DON'T ACT LIKE EVERYBODY ELSE. 00:03:18.631 --> 00:03:18.831 DON'T ACT LIKE EVERYBODY ELSE. 00:03:18.831 --> 00:03:19.098 DON'T ACT LIKE EVERYBODY ELSE. YOU 00:03:19.098 --> 00:03:19.165 DON'T ACT LIKE EVERYBODY ELSE. YOU SOLVE 00:03:19.165 --> 00:03:19.666 DON'T ACT LIKE EVERYBODY ELSE. YOU SOLVE IT 00:03:19.666 --> 00:03:19.899 DON'T ACT LIKE EVERYBODY ELSE. YOU SOLVE IT BY 00:03:19.899 --> 00:03:19.999 DON'T ACT LIKE EVERYBODY ELSE. YOU SOLVE IT BY PROTECTIONING 00:03:19.999 --> 00:03:20.166 YOU SOLVE IT BY PROTECTIONING 00:03:20.166 --> 00:03:20.433 YOU SOLVE IT BY PROTECTIONING THE 00:03:20.433 --> 00:03:20.833 YOU SOLVE IT BY PROTECTIONING THE ASSET 00:03:20.833 --> 00:03:21.534 YOU SOLVE IT BY PROTECTIONING THE ASSET AS 00:03:21.534 --> 00:03:21.568 YOU SOLVE IT BY PROTECTIONING THE ASSET AS QUICKLY 00:03:21.568 --> 00:03:21.634 YOU SOLVE IT BY PROTECTIONING THE ASSET AS QUICKLY AS 00:03:21.634 --> 00:03:21.801 YOU SOLVE IT BY PROTECTIONING THE ASSET AS QUICKLY AS YOU 00:03:21.801 --> 00:03:21.834 YOU SOLVE IT BY PROTECTIONING THE ASSET AS QUICKLY AS YOU CAN. 00:03:21.834 --> 00:03:22.001 THE ASSET AS QUICKLY AS YOU CAN. 00:03:22.001 --> 00:03:22.268 THE ASSET AS QUICKLY AS YOU CAN. >> 00:03:22.268 --> 00:03:22.402 THE ASSET AS QUICKLY AS YOU CAN. >> WHEN 00:03:22.402 --> 00:03:22.735 THE ASSET AS QUICKLY AS YOU CAN. >> WHEN DID 00:03:22.735 --> 00:03:23.870 THE ASSET AS QUICKLY AS YOU CAN. >> WHEN DID YOU 00:03:23.870 --> 00:03:24.404 THE ASSET AS QUICKLY AS YOU CAN. >> WHEN DID YOU GET 00:03:24.404 --> 00:03:24.437 THE ASSET AS QUICKLY AS YOU CAN. >> WHEN DID YOU GET WIND 00:03:24.437 --> 00:03:24.537 >> WHEN DID YOU GET WIND 00:03:24.537 --> 00:03:24.837 >> WHEN DID YOU GET WIND WAS 00:03:24.837 --> 00:03:24.904 >> WHEN DID YOU GET WIND WAS IT 00:03:24.904 --> 00:03:25.538 >> WHEN DID YOU GET WIND WAS IT LAST 00:03:25.538 --> 00:03:25.572 >> WHEN DID YOU GET WIND WAS IT LAST WEEK 00:03:25.572 --> 00:03:25.705 WAS IT LAST WEEK 00:03:25.705 --> 00:03:25.772 WAS IT LAST WEEK THERE 00:03:25.772 --> 00:03:25.838 WAS IT LAST WEEK THERE WAS 00:03:25.838 --> 00:03:26.239 WAS IT LAST WEEK THERE WAS A 00:03:26.239 --> 00:03:26.372 WAS IT LAST WEEK THERE WAS A NEWSLETTER 00:03:26.372 --> 00:03:26.439 WAS IT LAST WEEK THERE WAS A NEWSLETTER ABOUT 00:03:26.439 --> 00:03:26.573 THERE WAS A NEWSLETTER ABOUT 00:03:26.573 --> 00:03:26.873 THERE WAS A NEWSLETTER ABOUT THIS 00:03:26.873 --> 00:03:28.007 THERE WAS A NEWSLETTER ABOUT THIS IN 00:03:28.007 --> 00:03:28.041 THERE WAS A NEWSLETTER ABOUT THIS IN NOVEMBER 00:03:28.041 --> 00:03:28.174 THIS IN NOVEMBER 00:03:28.174 --> 00:03:28.675 THIS IN NOVEMBER THERE 00:03:28.675 --> 00:03:28.841 THIS IN NOVEMBER THERE WAS 00:03:28.841 --> 00:03:29.375 THIS IN NOVEMBER THERE WAS JONATHAN 00:03:29.375 --> 00:03:29.509 THIS IN NOVEMBER THERE WAS JONATHAN WEIL 00:03:29.509 --> 00:03:29.609 THIS IN NOVEMBER THERE WAS JONATHAN WEIL WRITING 00:03:29.609 --> 00:03:31.177 THERE WAS JONATHAN WEIL WRITING 00:03:31.177 --> 00:03:31.244 THERE WAS JONATHAN WEIL WRITING ABOUT 00:03:31.244 --> 00:03:31.277 THERE WAS JONATHAN WEIL WRITING ABOUT IT 00:03:31.277 --> 00:03:31.377 THERE WAS JONATHAN WEIL WRITING ABOUT IT IN 00:03:31.377 --> 00:03:31.444 THERE WAS JONATHAN WEIL WRITING ABOUT IT IN "THE 00:03:31.444 --> 00:03:32.312 THERE WAS JONATHAN WEIL WRITING ABOUT IT IN "THE WALL 00:03:32.312 --> 00:03:32.345 THERE WAS JONATHAN WEIL WRITING ABOUT IT IN "THE WALL STREET 00:03:32.345 --> 00:03:32.545 ABOUT IT IN "THE WALL STREET 00:03:32.545 --> 00:03:32.612 ABOUT IT IN "THE WALL STREET JOURNAL. 00:03:32.612 --> 00:03:32.979 JOURNAL. 00:03:32.979 --> 00:03:33.046 JOURNAL. WHEN 00:03:33.046 --> 00:03:33.246 JOURNAL. WHEN DID 00:03:33.246 --> 00:03:33.513 JOURNAL. WHEN DID YOU 00:03:33.513 --> 00:03:33.646 JOURNAL. WHEN DID YOU FIRST 00:03:33.646 --> 00:03:34.180 JOURNAL. WHEN DID YOU FIRST GET 00:03:34.180 --> 00:03:34.214 JOURNAL. WHEN DID YOU FIRST GET ANY 00:03:34.214 --> 00:03:34.380 WHEN DID YOU FIRST GET ANY 00:03:34.380 --> 00:03:35.715 WHEN DID YOU FIRST GET ANY INKLING 00:03:35.715 --> 00:03:36.082 WHEN DID YOU FIRST GET ANY INKLING THAT 00:03:36.082 --> 00:03:36.349 WHEN DID YOU FIRST GET ANY INKLING THAT THIS 00:03:36.349 --> 00:03:36.516 WHEN DID YOU FIRST GET ANY INKLING THAT THIS INSTITUTION 00:03:36.516 --> 00:03:36.649 INKLING THAT THIS INSTITUTION 00:03:36.649 --> 00:03:36.783 INKLING THAT THIS INSTITUTION WOULD 00:03:36.783 --> 00:03:36.950 INKLING THAT THIS INSTITUTION WOULD HAVE 00:03:36.950 --> 00:03:37.116 INKLING THAT THIS INSTITUTION WOULD HAVE THIS 00:03:37.116 --> 00:03:37.383 INKLING THAT THIS INSTITUTION WOULD HAVE THIS KIND 00:03:37.383 --> 00:03:37.750 INKLING THAT THIS INSTITUTION WOULD HAVE THIS KIND OF 00:03:37.750 --> 00:03:38.051 INKLING THAT THIS INSTITUTION WOULD HAVE THIS KIND OF A 00:03:38.051 --> 00:03:38.251 WOULD HAVE THIS KIND OF A 00:03:38.251 --> 00:03:38.284 WOULD HAVE THIS KIND OF A PROBLEM? 00:03:38.284 --> 00:03:38.384 PROBLEM? 00:03:38.384 --> 00:03:38.451 PROBLEM? >> 00:03:38.451 --> 00:03:38.518 PROBLEM? >> THIS 00:03:38.518 --> 00:03:39.152 PROBLEM? >> THIS WAS 00:03:39.152 --> 00:03:41.554 PROBLEM? >> THIS WAS NOT 00:03:41.554 --> 00:03:41.754 PROBLEM? >> THIS WAS NOT A 00:03:41.754 --> 00:03:41.788 PROBLEM? >> THIS WAS NOT A SURPRISE 00:03:41.788 --> 00:03:41.921 >> THIS WAS NOT A SURPRISE 00:03:41.921 --> 00:03:41.988 >> THIS WAS NOT A SURPRISE WHEN 00:03:41.988 --> 00:03:42.055 >> THIS WAS NOT A SURPRISE WHEN THE 00:03:42.055 --> 00:03:42.088 >> THIS WAS NOT A SURPRISE WHEN THE FED 00:03:42.088 --> 00:03:42.222 >> THIS WAS NOT A SURPRISE WHEN THE FED IS 00:03:42.222 --> 00:03:42.322 >> THIS WAS NOT A SURPRISE WHEN THE FED IS RAISING 00:03:42.322 --> 00:03:42.388 >> THIS WAS NOT A SURPRISE WHEN THE FED IS RAISING RATES 00:03:42.388 --> 00:03:42.488 WHEN THE FED IS RAISING RATES 00:03:42.488 --> 00:03:42.589 WHEN THE FED IS RAISING RATES AND 00:03:42.589 --> 00:03:42.655 WHEN THE FED IS RAISING RATES AND IT'S 00:03:42.655 --> 00:03:43.856 WHEN THE FED IS RAISING RATES AND IT'S NOT 00:03:43.856 --> 00:03:44.324 WHEN THE FED IS RAISING RATES AND IT'S NOT A 00:03:44.324 --> 00:03:44.357 WHEN THE FED IS RAISING RATES AND IT'S NOT A SURPRISE. 00:03:44.357 --> 00:03:44.591 AND IT'S NOT A SURPRISE. 00:03:44.591 --> 00:03:44.691 AND IT'S NOT A SURPRISE. THE 00:03:44.691 --> 00:03:44.857 AND IT'S NOT A SURPRISE. THE REAL 00:03:44.857 --> 00:03:45.058 AND IT'S NOT A SURPRISE. THE REAL ESTATE 00:03:45.058 --> 00:03:46.025 AND IT'S NOT A SURPRISE. THE REAL ESTATE MARKET 00:03:46.025 --> 00:03:46.192 AND IT'S NOT A SURPRISE. THE REAL ESTATE MARKET AROUND 00:03:46.192 --> 00:03:46.292 THE REAL ESTATE MARKET AROUND 00:03:46.292 --> 00:03:46.459 THE REAL ESTATE MARKET AROUND SAN 00:03:46.459 --> 00:03:46.960 THE REAL ESTATE MARKET AROUND SAN FRANCISCO 00:03:46.960 --> 00:03:47.427 THE REAL ESTATE MARKET AROUND SAN FRANCISCO IS 00:03:47.427 --> 00:03:47.460 THE REAL ESTATE MARKET AROUND SAN FRANCISCO IS DEPRESSED 00:03:47.460 --> 00:03:47.594 THE REAL ESTATE MARKET AROUND SAN FRANCISCO IS DEPRESSED IS 00:03:47.594 --> 00:03:47.727 SAN FRANCISCO IS DEPRESSED IS 00:03:47.727 --> 00:03:47.927 SAN FRANCISCO IS DEPRESSED IS NOT 00:03:47.927 --> 00:03:48.394 SAN FRANCISCO IS DEPRESSED IS NOT A 00:03:48.394 --> 00:03:48.561 SAN FRANCISCO IS DEPRESSED IS NOT A SURPRISE, 00:03:48.561 --> 00:03:48.828 SAN FRANCISCO IS DEPRESSED IS NOT A SURPRISE, BUT 00:03:48.828 --> 00:03:48.861 SAN FRANCISCO IS DEPRESSED IS NOT A SURPRISE, BUT PEOPLE 00:03:48.861 --> 00:03:49.028 NOT A SURPRISE, BUT PEOPLE 00:03:49.028 --> 00:03:49.329 NOT A SURPRISE, BUT PEOPLE THOUGHT 00:03:49.329 --> 00:03:49.629 NOT A SURPRISE, BUT PEOPLE THOUGHT THE 00:03:49.629 --> 00:03:49.796 NOT A SURPRISE, BUT PEOPLE THOUGHT THE MANAGEMENT 00:03:49.796 --> 00:03:50.330 NOT A SURPRISE, BUT PEOPLE THOUGHT THE MANAGEMENT OF 00:03:50.330 --> 00:03:50.363 NOT A SURPRISE, BUT PEOPLE THOUGHT THE MANAGEMENT OF THIS 00:03:50.363 --> 00:03:50.496 THOUGHT THE MANAGEMENT OF THIS 00:03:50.496 --> 00:03:50.630 THOUGHT THE MANAGEMENT OF THIS BANK 00:03:50.630 --> 00:03:51.898 THOUGHT THE MANAGEMENT OF THIS BANK WHICH 00:03:51.898 --> 00:03:52.298 THOUGHT THE MANAGEMENT OF THIS BANK WHICH WE 00:03:52.298 --> 00:03:52.332 THOUGHT THE MANAGEMENT OF THIS BANK WHICH WE LOVE 00:03:52.332 --> 00:03:52.465 BANK WHICH WE LOVE 00:03:52.465 --> 00:03:52.532 BANK WHICH WE LOVE THIS 00:03:52.532 --> 00:03:52.665 BANK WHICH WE LOVE THIS BANK 00:03:52.665 --> 00:03:52.899 BANK WHICH WE LOVE THIS BANK IS 00:03:52.899 --> 00:03:53.266 BANK WHICH WE LOVE THIS BANK IS SUCH 00:03:53.266 --> 00:03:53.933 BANK WHICH WE LOVE THIS BANK IS SUCH A 00:03:53.933 --> 00:03:54.100 BANK WHICH WE LOVE THIS BANK IS SUCH A GREAT 00:03:54.100 --> 00:03:54.334 THIS BANK IS SUCH A GREAT 00:03:54.334 --> 00:03:54.400 THIS BANK IS SUCH A GREAT INSTITUTION 00:03:54.400 --> 00:03:54.534 THIS BANK IS SUCH A GREAT INSTITUTION WE 00:03:54.534 --> 00:03:54.934 THIS BANK IS SUCH A GREAT INSTITUTION WE THOUGHT 00:03:54.934 --> 00:03:55.101 THIS BANK IS SUCH A GREAT INSTITUTION WE THOUGHT THEY 00:03:55.101 --> 00:03:55.235 INSTITUTION WE THOUGHT THEY 00:03:55.235 --> 00:03:55.301 INSTITUTION WE THOUGHT THEY WOULD 00:03:55.301 --> 00:03:55.335 INSTITUTION WE THOUGHT THEY WOULD BE 00:03:55.335 --> 00:03:55.435 INSTITUTION WE THOUGHT THEY WOULD BE ON 00:03:55.435 --> 00:03:55.501 INSTITUTION WE THOUGHT THEY WOULD BE ON TOP 00:03:55.501 --> 00:03:56.102 INSTITUTION WE THOUGHT THEY WOULD BE ON TOP OF 00:03:56.102 --> 00:03:56.236 INSTITUTION WE THOUGHT THEY WOULD BE ON TOP OF THE 00:03:56.236 --> 00:03:56.336 INSTITUTION WE THOUGHT THEY WOULD BE ON TOP OF THE ISSUE 00:03:56.336 --> 00:03:56.436 WOULD BE ON TOP OF THE ISSUE 00:03:56.436 --> 00:03:56.869 WOULD BE ON TOP OF THE ISSUE THE 00:03:56.869 --> 00:03:57.237 WOULD BE ON TOP OF THE ISSUE THE SURPRISE 00:03:57.237 --> 00:03:57.337 WOULD BE ON TOP OF THE ISSUE THE SURPRISE HIT 00:03:57.337 --> 00:03:57.704 WOULD BE ON TOP OF THE ISSUE THE SURPRISE HIT ON 00:03:57.704 --> 00:03:58.037 WOULD BE ON TOP OF THE ISSUE THE SURPRISE HIT ON WEDNESDAY 00:03:58.037 --> 00:03:58.204 THE SURPRISE HIT ON WEDNESDAY 00:03:58.204 --> 00:03:58.304 THE SURPRISE HIT ON WEDNESDAY NIGHT, 00:03:58.304 --> 00:03:58.338 THE SURPRISE HIT ON WEDNESDAY NIGHT, AND 00:03:58.338 --> 00:03:58.438 THE SURPRISE HIT ON WEDNESDAY NIGHT, AND I 00:03:58.438 --> 00:03:58.538 THE SURPRISE HIT ON WEDNESDAY NIGHT, AND I DON'T 00:03:58.538 --> 00:03:58.705 THE SURPRISE HIT ON WEDNESDAY NIGHT, AND I DON'T KNOW 00:03:58.705 --> 00:04:00.006 THE SURPRISE HIT ON WEDNESDAY NIGHT, AND I DON'T KNOW WHY 00:04:00.006 --> 00:04:00.039 THE SURPRISE HIT ON WEDNESDAY NIGHT, AND I DON'T KNOW WHY THEY 00:04:00.039 --> 00:04:00.240 NIGHT, AND I DON'T KNOW WHY THEY 00:04:00.240 --> 00:04:00.607 NIGHT, AND I DON'T KNOW WHY THEY ANNOUNCED 00:04:00.607 --> 00:04:00.707 NIGHT, AND I DON'T KNOW WHY THEY ANNOUNCED THEY 00:04:00.707 --> 00:04:00.773 NIGHT, AND I DON'T KNOW WHY THEY ANNOUNCED THEY FAILED 00:04:00.773 --> 00:04:01.541 NIGHT, AND I DON'T KNOW WHY THEY ANNOUNCED THEY FAILED TO 00:04:01.541 --> 00:04:01.574 NIGHT, AND I DON'T KNOW WHY THEY ANNOUNCED THEY FAILED TO RAISE 00:04:01.574 --> 00:04:01.741 ANNOUNCED THEY FAILED TO RAISE 00:04:01.741 --> 00:04:01.774 ANNOUNCED THEY FAILED TO RAISE MONEY. 00:04:01.774 --> 00:04:01.874 MONEY. 00:04:01.874 --> 00:04:01.975 MONEY. YOU 00:04:01.975 --> 00:04:03.109 MONEY. YOU WOULD 00:04:03.109 --> 00:04:03.209 MONEY. YOU WOULD THINK 00:04:03.209 --> 00:04:03.343 MONEY. YOU WOULD THINK THEY 00:04:03.343 --> 00:04:03.509 MONEY. YOU WOULD THINK THEY WOULDN'T 00:04:03.509 --> 00:04:03.776 YOU WOULD THINK THEY WOULDN'T 00:04:03.776 --> 00:04:03.943 YOU WOULD THINK THEY WOULDN'T SAY 00:04:03.943 --> 00:04:04.143 YOU WOULD THINK THEY WOULDN'T SAY ANYTHING 00:04:04.143 --> 00:04:04.410 YOU WOULD THINK THEY WOULDN'T SAY ANYTHING UNTIL 00:04:04.410 --> 00:04:05.311 YOU WOULD THINK THEY WOULDN'T SAY ANYTHING UNTIL THEY 00:04:05.311 --> 00:04:05.345 YOU WOULD THINK THEY WOULDN'T SAY ANYTHING UNTIL THEY RAISED 00:04:05.345 --> 00:04:05.478 SAY ANYTHING UNTIL THEY RAISED 00:04:05.478 --> 00:04:05.812 SAY ANYTHING UNTIL THEY RAISED MONEY 00:04:05.812 --> 00:04:05.945 SAY ANYTHING UNTIL THEY RAISED MONEY AND 00:04:05.945 --> 00:04:06.179 SAY ANYTHING UNTIL THEY RAISED MONEY AND ANOTHER 00:04:06.179 --> 00:04:06.679 SAY ANYTHING UNTIL THEY RAISED MONEY AND ANOTHER JUST 00:04:06.679 --> 00:04:07.113 SAY ANYTHING UNTIL THEY RAISED MONEY AND ANOTHER JUST A 00:04:07.113 --> 00:04:07.146 SAY ANYTHING UNTIL THEY RAISED MONEY AND ANOTHER JUST A BLUNDER 00:04:07.146 --> 00:04:07.247 MONEY AND ANOTHER JUST A BLUNDER 00:04:07.247 --> 00:04:07.347 MONEY AND ANOTHER JUST A BLUNDER AND 00:04:07.347 --> 00:04:07.914 MONEY AND ANOTHER JUST A BLUNDER AND THE 00:04:07.914 --> 00:04:08.114 MONEY AND ANOTHER JUST A BLUNDER AND THE BLUNDER 00:04:08.114 --> 00:04:08.381 MONEY AND ANOTHER JUST A BLUNDER AND THE BLUNDER COMPOUNDED 00:04:08.381 --> 00:04:08.414 MONEY AND ANOTHER JUST A BLUNDER AND THE BLUNDER COMPOUNDED THE 00:04:08.414 --> 00:04:08.648 AND THE BLUNDER COMPOUNDED THE 00:04:08.648 --> 00:04:08.915 AND THE BLUNDER COMPOUNDED THE NEXT 00:04:08.915 --> 00:04:08.948 AND THE BLUNDER COMPOUNDED THE NEXT DAY 00:04:08.948 --> 00:04:09.048 NEXT DAY 00:04:09.048 --> 00:04:09.315 NEXT DAY >> 00:04:09.315 --> 00:04:10.216 NEXT DAY >> GO 00:04:10.216 --> 00:04:10.550 NEXT DAY >> GO AHEAD, 00:04:10.550 --> 00:04:10.583 NEXT DAY >> GO AHEAD, DAN 00:04:10.583 --> 00:04:10.717 >> GO AHEAD, DAN 00:04:10.717 --> 00:04:11.217 >> GO AHEAD, DAN >> 00:04:11.217 --> 00:04:11.484 >> GO AHEAD, DAN >> MY 00:04:11.484 --> 00:04:11.851 >> GO AHEAD, DAN >> MY UNDERSTANDING 00:04:11.851 --> 00:04:12.051 >> GO AHEAD, DAN >> MY UNDERSTANDING FROM 00:04:12.051 --> 00:04:12.085 >> GO AHEAD, DAN >> MY UNDERSTANDING FROM TALKING 00:04:12.085 --> 00:04:12.185 >> MY UNDERSTANDING FROM TALKING 00:04:12.185 --> 00:04:12.285 >> MY UNDERSTANDING FROM TALKING TO 00:04:12.285 --> 00:04:12.352 >> MY UNDERSTANDING FROM TALKING TO PEOPLE 00:04:12.352 --> 00:04:12.986 >> MY UNDERSTANDING FROM TALKING TO PEOPLE WHO 00:04:12.986 --> 00:04:13.119 >> MY UNDERSTANDING FROM TALKING TO PEOPLE WHO WERE 00:04:13.119 --> 00:04:13.553 >> MY UNDERSTANDING FROM TALKING TO PEOPLE WHO WERE INVOLVED 00:04:13.553 --> 00:04:13.586 >> MY UNDERSTANDING FROM TALKING TO PEOPLE WHO WERE INVOLVED IN 00:04:13.586 --> 00:04:13.853 TO PEOPLE WHO WERE INVOLVED IN 00:04:13.853 --> 00:04:14.520 TO PEOPLE WHO WERE INVOLVED IN THOSE 00:04:14.520 --> 00:04:14.621 TO PEOPLE WHO WERE INVOLVED IN THOSE CONVERSATIONS 00:04:14.621 --> 00:04:14.854 TO PEOPLE WHO WERE INVOLVED IN THOSE CONVERSATIONS LAST 00:04:14.854 --> 00:04:15.021 TO PEOPLE WHO WERE INVOLVED IN THOSE CONVERSATIONS LAST WEEK 00:04:15.021 --> 00:04:15.121 THOSE CONVERSATIONS LAST WEEK 00:04:15.121 --> 00:04:15.188 THOSE CONVERSATIONS LAST WEEK AND 00:04:15.188 --> 00:04:15.321 THOSE CONVERSATIONS LAST WEEK AND THE 00:04:15.321 --> 00:04:15.588 THOSE CONVERSATIONS LAST WEEK AND THE WEEK 00:04:15.588 --> 00:04:15.822 THOSE CONVERSATIONS LAST WEEK AND THE WEEK BEFORE 00:04:15.822 --> 00:04:16.656 THOSE CONVERSATIONS LAST WEEK AND THE WEEK BEFORE AND 00:04:16.656 --> 00:04:16.823 THOSE CONVERSATIONS LAST WEEK AND THE WEEK BEFORE AND SVB 00:04:16.823 --> 00:04:16.990 AND THE WEEK BEFORE AND SVB 00:04:16.990 --> 00:04:17.090 AND THE WEEK BEFORE AND SVB LEADING 00:04:17.090 --> 00:04:17.257 AND THE WEEK BEFORE AND SVB LEADING INTO 00:04:17.257 --> 00:04:18.091 AND THE WEEK BEFORE AND SVB LEADING INTO THE 00:04:18.091 --> 00:04:18.124 AND THE WEEK BEFORE AND SVB LEADING INTO THE WEDNESDAY 00:04:18.124 --> 00:04:18.391 LEADING INTO THE WEDNESDAY 00:04:18.391 --> 00:04:18.424 LEADING INTO THE WEDNESDAY ANNOUNCEMENT 00:04:18.424 --> 00:04:18.558 ANNOUNCEMENT 00:04:18.558 --> 00:04:18.658 ANNOUNCEMENT THEY 00:04:18.658 --> 00:04:18.725 ANNOUNCEMENT THEY DIDN'T 00:04:18.725 --> 00:04:18.791 ANNOUNCEMENT THEY DIDN'T TRY 00:04:18.791 --> 00:04:18.958 ANNOUNCEMENT THEY DIDN'T TRY TO 00:04:18.958 --> 00:04:19.892 ANNOUNCEMENT THEY DIDN'T TRY TO RAISE 00:04:19.892 --> 00:04:19.926 ANNOUNCEMENT THEY DIDN'T TRY TO RAISE THE 00:04:19.926 --> 00:04:20.093 THEY DIDN'T TRY TO RAISE THE 00:04:20.093 --> 00:04:20.126 THEY DIDN'T TRY TO RAISE THE MONEY. 00:04:20.126 --> 00:04:20.260 MONEY. 00:04:20.260 --> 00:04:20.326 MONEY. THEY 00:04:20.326 --> 00:04:20.727 MONEY. THEY GOT 00:04:20.727 --> 00:04:20.960 MONEY. THEY GOT HALF 00:04:20.960 --> 00:04:21.527 MONEY. THEY GOT HALF A 00:04:21.527 --> 00:04:24.797 MONEY. THEY GOT HALF A BILLION 00:04:24.797 --> 00:04:24.964 MONEY. THEY GOT HALF A BILLION DOLLARS 00:04:24.964 --> 00:04:25.498 THEY GOT HALF A BILLION DOLLARS 00:04:25.498 --> 00:04:27.700 THEY GOT HALF A BILLION DOLLARS FROM 00:04:27.700 --> 00:04:27.967 THEY GOT HALF A BILLION DOLLARS FROM GENERAL 00:04:27.967 --> 00:04:28.334 THEY GOT HALF A BILLION DOLLARS FROM GENERAL ATLANTIC, 00:04:28.334 --> 00:04:28.501 THEY GOT HALF A BILLION DOLLARS FROM GENERAL ATLANTIC, AND 00:04:28.501 --> 00:04:28.668 THEY GOT HALF A BILLION DOLLARS FROM GENERAL ATLANTIC, AND THEY 00:04:28.668 --> 00:04:28.801 FROM GENERAL ATLANTIC, AND THEY 00:04:28.801 --> 00:04:29.102 FROM GENERAL ATLANTIC, AND THEY ONLY 00:04:29.102 --> 00:04:29.435 FROM GENERAL ATLANTIC, AND THEY ONLY PICKED 00:04:29.435 --> 00:04:29.602 FROM GENERAL ATLANTIC, AND THEY ONLY PICKED UP 00:04:29.602 --> 00:04:29.736 FROM GENERAL ATLANTIC, AND THEY ONLY PICKED UP THE 00:04:29.736 --> 00:04:29.969 FROM GENERAL ATLANTIC, AND THEY ONLY PICKED UP THE PHONE 00:04:29.969 --> 00:04:30.136 FROM GENERAL ATLANTIC, AND THEY ONLY PICKED UP THE PHONE THEY 00:04:30.136 --> 00:04:30.270 ONLY PICKED UP THE PHONE THEY 00:04:30.270 --> 00:04:30.470 ONLY PICKED UP THE PHONE THEY FELT 00:04:30.470 --> 00:04:30.803 ONLY PICKED UP THE PHONE THEY FELT IN 00:04:30.803 --> 00:04:31.571 ONLY PICKED UP THE PHONE THEY FELT IN HINDSIGHT 00:04:31.571 --> 00:04:31.838 ONLY PICKED UP THE PHONE THEY FELT IN HINDSIGHT A 00:04:31.838 --> 00:04:31.871 ONLY PICKED UP THE PHONE THEY FELT IN HINDSIGHT A TERRIBLE 00:04:31.871 --> 00:04:32.071 FELT IN HINDSIGHT A TERRIBLE 00:04:32.071 --> 00:04:32.138 FELT IN HINDSIGHT A TERRIBLE DECISION 00:04:32.138 --> 00:04:32.272 FELT IN HINDSIGHT A TERRIBLE DECISION GET 00:04:32.272 --> 00:04:34.774 FELT IN HINDSIGHT A TERRIBLE DECISION GET THE 00:04:34.774 --> 00:04:34.807 FELT IN HINDSIGHT A TERRIBLE DECISION GET THE HALF 00:04:34.807 --> 00:04:34.941 FELT IN HINDSIGHT A TERRIBLE DECISION GET THE HALF A 00:04:34.941 --> 00:04:35.008 FELT IN HINDSIGHT A TERRIBLE DECISION GET THE HALF A BILLION 00:04:35.008 --> 00:04:35.441 DECISION GET THE HALF A BILLION 00:04:35.441 --> 00:04:36.042 DECISION GET THE HALF A BILLION OF 00:04:36.042 --> 00:04:36.309 DECISION GET THE HALF A BILLION OF GENERAL 00:04:36.309 --> 00:04:36.376 DECISION GET THE HALF A BILLION OF GENERAL ATLANTIC 00:04:36.376 --> 00:04:36.709 DECISION GET THE HALF A BILLION OF GENERAL ATLANTIC AND 00:04:36.709 --> 00:04:36.876 DECISION GET THE HALF A BILLION OF GENERAL ATLANTIC AND THE 00:04:36.876 --> 00:04:37.043 OF GENERAL ATLANTIC AND THE 00:04:37.043 --> 00:04:37.110 OF GENERAL ATLANTIC AND THE MARKET 00:04:37.110 --> 00:04:37.677 OF GENERAL ATLANTIC AND THE MARKET WILL 00:04:37.677 --> 00:04:38.077 OF GENERAL ATLANTIC AND THE MARKET WILL GIVE 00:04:38.077 --> 00:04:38.278 OF GENERAL ATLANTIC AND THE MARKET WILL GIVE US 00:04:38.278 --> 00:04:39.078 OF GENERAL ATLANTIC AND THE MARKET WILL GIVE US THE 00:04:39.078 --> 00:04:39.646 OF GENERAL ATLANTIC AND THE MARKET WILL GIVE US THE OTHER 00:04:39.646 --> 00:04:39.812 MARKET WILL GIVE US THE OTHER 00:04:39.812 --> 00:04:39.846 MARKET WILL GIVE US THE OTHER HALF 00:04:39.846 --> 00:04:39.979 HALF 00:04:39.979 --> 00:04:40.380 HALF THEY 00:04:40.380 --> 00:04:41.881 HALF THEY WERE 00:04:41.881 --> 00:04:41.981 HALF THEY WERE FATALLY 00:04:41.981 --> 00:04:42.081 HALF THEY WERE FATALLY WRONG 00:04:42.081 --> 00:04:42.148 HALF THEY WERE FATALLY WRONG ABOUT 00:04:42.148 --> 00:04:42.282 THEY WERE FATALLY WRONG ABOUT 00:04:42.282 --> 00:04:42.415 THEY WERE FATALLY WRONG ABOUT THAT. 00:04:42.415 --> 00:04:42.515 THAT. 00:04:42.515 --> 00:04:42.582 THAT. >> 00:04:42.582 --> 00:04:42.615 THAT. >> WHY 00:04:42.615 --> 00:04:42.682 THAT. >> WHY DO 00:04:42.682 --> 00:04:42.782 THAT. >> WHY DO YOU 00:04:42.782 --> 00:04:42.949 THAT. >> WHY DO YOU THINK 00:04:42.949 --> 00:04:43.216 THAT. >> WHY DO YOU THINK THAT 00:04:43.216 --> 00:04:43.249 THAT. >> WHY DO YOU THINK THAT IS, 00:04:43.249 --> 00:04:43.416 >> WHY DO YOU THINK THAT IS, 00:04:43.416 --> 00:04:43.449 >> WHY DO YOU THINK THAT IS, DAN? 00:04:43.449 --> 00:04:43.549 DAN? 00:04:43.549 --> 00:04:43.816 DAN? >> 00:04:43.816 --> 00:04:43.850 DAN? >> I 00:04:43.850 --> 00:04:43.983 DAN? >> I DO 00:04:43.983 --> 00:04:44.450 DAN? >> I DO NOT 00:04:44.450 --> 00:04:44.484 DAN? >> I DO NOT KNOW 00:04:44.484 --> 00:04:44.550 >> I DO NOT KNOW 00:04:44.550 --> 00:04:44.784 >> I DO NOT KNOW I 00:04:44.784 --> 00:04:44.984 >> I DO NOT KNOW I CAN'T 00:04:44.984 --> 00:04:45.385 >> I DO NOT KNOW I CAN'T FIGURE 00:04:45.385 --> 00:04:45.752 >> I DO NOT KNOW I CAN'T FIGURE IT 00:04:45.752 --> 00:04:45.785 >> I DO NOT KNOW I CAN'T FIGURE IT OUT. 00:04:45.785 --> 00:04:46.152 I CAN'T FIGURE IT OUT. 00:04:46.152 --> 00:04:46.185 I CAN'T FIGURE IT OUT. IT'S 00:04:46.185 --> 00:04:46.319 I CAN'T FIGURE IT OUT. IT'S A 00:04:46.319 --> 00:04:46.519 I CAN'T FIGURE IT OUT. IT'S A QUESTION 00:04:46.519 --> 00:04:46.653 I CAN'T FIGURE IT OUT. IT'S A QUESTION I 00:04:46.653 --> 00:04:46.886 I CAN'T FIGURE IT OUT. IT'S A QUESTION I KEEP 00:04:46.886 --> 00:04:47.053 I CAN'T FIGURE IT OUT. IT'S A QUESTION I KEEP ASKING 00:04:47.053 --> 00:04:47.153 IT'S A QUESTION I KEEP ASKING 00:04:47.153 --> 00:04:47.353 IT'S A QUESTION I KEEP ASKING AND 00:04:47.353 --> 00:04:47.487 IT'S A QUESTION I KEEP ASKING AND NO 00:04:47.487 --> 00:04:47.887 IT'S A QUESTION I KEEP ASKING AND NO ONE 00:04:47.887 --> 00:04:47.920 IT'S A QUESTION I KEEP ASKING AND NO ONE HAS 00:04:47.920 --> 00:04:48.755 IT'S A QUESTION I KEEP ASKING AND NO ONE HAS AN 00:04:48.755 --> 00:04:49.088 IT'S A QUESTION I KEEP ASKING AND NO ONE HAS AN ANSWER 00:04:49.088 --> 00:04:49.222 IT'S A QUESTION I KEEP ASKING AND NO ONE HAS AN ANSWER AND 00:04:49.222 --> 00:04:49.255 IT'S A QUESTION I KEEP ASKING AND NO ONE HAS AN ANSWER AND I 00:04:49.255 --> 00:04:49.389 AND NO ONE HAS AN ANSWER AND I 00:04:49.389 --> 00:04:49.689 AND NO ONE HAS AN ANSWER AND I WOULD 00:04:49.689 --> 00:04:49.756 AND NO ONE HAS AN ANSWER AND I WOULD SAY 00:04:49.756 --> 00:04:49.856 AND NO ONE HAS AN ANSWER AND I WOULD SAY AS 00:04:49.856 --> 00:04:51.591 AND NO ONE HAS AN ANSWER AND I WOULD SAY AS THE 00:04:51.591 --> 00:04:51.691 AND NO ONE HAS AN ANSWER AND I WOULD SAY AS THE SECOND 00:04:51.691 --> 00:04:52.892 AND NO ONE HAS AN ANSWER AND I WOULD SAY AS THE SECOND PART 00:04:52.892 --> 00:04:52.925 AND NO ONE HAS AN ANSWER AND I WOULD SAY AS THE SECOND PART AND 00:04:52.925 --> 00:04:53.059 WOULD SAY AS THE SECOND PART AND 00:04:53.059 --> 00:04:53.159 WOULD SAY AS THE SECOND PART AND DUNK 00:04:53.159 --> 00:04:53.393 WOULD SAY AS THE SECOND PART AND DUNK A 00:04:53.393 --> 00:04:53.426 WOULD SAY AS THE SECOND PART AND DUN 00:04:53.426 --> 00:04:53.593 DUN 00:04:53.593 --> 00:04:53.660 DUN DUNCAN 00:04:53.660 --> 00:04:54.227 DUN DUNCAN SAID 00:04:54.227 --> 00:04:54.460 DUN DUNCAN SAID THIS, 00:04:54.460 --> 00:04:54.627 DUN DUNCAN SAID THIS, IT'S 00:04:54.627 --> 00:04:55.261 DUN DUNCAN SAID THIS, IT'S ALSO 00:04:55.261 --> 00:04:55.295 DUN DUNCAN SAID THIS, IT'S ALSO VERY 00:04:55.295 --> 00:04:55.461 DUNCAN SAID THIS, IT'S ALSO VERY 00:04:55.461 --> 00:04:55.495 DUNCAN SAID THIS, IT'S ALSO VERY CLEAR. 00:04:55.495 --> 00:04:55.628 CLEAR. 00:04:55.628 --> 00:04:55.728 CLEAR. I'VE 00:04:55.728 --> 00:04:55.828 CLEAR. I'VE NEVER 00:04:55.828 --> 00:04:56.095 CLEAR. I'VE NEVER RUN 00:04:56.095 --> 00:04:56.229 CLEAR. I'VE NEVER RUN A 00:04:56.229 --> 00:04:56.296 CLEAR. I'VE NEVER RUN A BANK 00:04:56.296 --> 00:04:56.329 CLEAR. I'VE NEVER RUN A BANK AND 00:04:56.329 --> 00:04:56.429 CLEAR. I'VE NEVER RUN A BANK AND I 00:04:56.429 --> 00:04:56.596 I'VE NEVER RUN A BANK AND I 00:04:56.596 --> 00:04:56.896 I'VE NEVER RUN A BANK AND I WOULD 00:04:56.896 --> 00:04:56.929 I'VE NEVER RUN A BANK AND I WOULD LIKE 00:04:56.929 --> 00:04:57.196 I'VE NEVER RUN A BANK AND I WOULD LIKE TO 00:04:57.196 --> 00:04:57.263 I'VE NEVER RUN A BANK AND I WOULD LIKE TO KNOW 00:04:57.263 --> 00:04:57.664 I'VE NEVER RUN A BANK AND I WOULD LIKE TO KNOW THAT 00:04:57.664 --> 00:04:57.830 I'VE NEVER RUN A BANK AND I WOULD LIKE TO KNOW THAT THE 00:04:57.830 --> 00:04:57.964 WOULD LIKE TO KNOW THAT THE 00:04:57.964 --> 00:04:58.064 WOULD LIKE TO KNOW THAT THE BANKS 00:04:58.064 --> 00:04:58.131 WOULD LIKE TO KNOW THAT THE BANKS KNOW 00:04:58.131 --> 00:04:58.197 WOULD LIKE TO KNOW THAT THE BANKS KNOW THAT 00:04:58.197 --> 00:04:58.398 WOULD LIKE TO KNOW THAT THE BANKS KNOW THAT THE 00:04:58.398 --> 00:04:58.564 WOULD LIKE TO KNOW THAT THE BANKS KNOW THAT THE POSSIBILITY 00:04:58.564 --> 00:04:58.665 BANKS KNOW THAT THE POSSIBILITY 00:04:58.665 --> 00:04:58.765 BANKS KNOW THAT THE POSSIBILITY OF 00:04:58.765 --> 00:04:59.098 BANKS KNOW THAT THE POSSIBILITY OF A 00:04:59.098 --> 00:04:59.198 BANKS KNOW THAT THE POSSIBILITY OF A BANK 00:04:59.198 --> 00:04:59.399 BANKS KNOW THAT THE POSSIBILITY OF A BANK RUN 00:04:59.399 --> 00:04:59.532 BANKS KNOW THAT THE POSSIBILITY OF A BANK RUN IS 00:04:59.532 --> 00:05:00.233 BANKS KNOW THAT THE POSSIBILITY OF A BANK RUN IS ALWAYS 00:05:00.233 --> 00:05:00.400 BANKS KNOW THAT THE POSSIBILITY OF A BANK RUN IS ALWAYS OUT 00:05:00.400 --> 00:05:00.566 OF A BANK RUN IS ALWAYS OUT 00:05:00.566 --> 00:05:00.600 OF A BANK RUN IS ALWAYS OUT THERE. 00:05:00.600 --> 00:05:00.833 THERE. 00:05:00.833 --> 00:05:01.000 THERE. IT'S 00:05:01.000 --> 00:05:01.501 THERE. IT'S REMOTE, 00:05:01.501 --> 00:05:01.534 THERE. IT'S REMOTE, BUT 00:05:01.534 --> 00:05:02.068 THERE. IT'S REMOTE, BUT IT 00:05:02.068 --> 00:05:02.802 THERE. IT'S REMOTE, BUT IT IS 00:05:02.802 --> 00:05:02.835 THERE. IT'S REMOTE, BUT IT IS THE 00:05:02.835 --> 00:05:03.069 IT'S REMOTE, BUT IT IS THE 00:05:03.069 --> 00:05:03.202 IT'S REMOTE, BUT IT IS THE WORST-CASE 00:05:03.202 --> 00:05:03.269 IT'S REMOTE, BUT IT IS THE WORST-CASE SCENARIO 00:05:03.269 --> 00:05:03.336 IT'S REMOTE, BUT IT IS THE WORST-CASE SCENARIO FOR 00:05:03.336 --> 00:05:03.569 IT'S REMOTE, BUT IT IS THE WORST-CASE SCENARIO FOR YOU 00:05:03.569 --> 00:05:03.603 IT'S REMOTE, BUT IT IS THE WORST-CASE SCENARIO FOR YOU THAT 00:05:03.603 --> 00:05:04.604 WORST-CASE SCENARIO FOR YOU THAT 00:05:04.604 --> 00:05:04.771 WORST-CASE SCENARIO FOR YOU THAT SOMEWHERE 00:05:04.771 --> 00:05:04.937 WORST-CASE SCENARIO FOR YOU THAT SOMEWHERE THERE'S 00:05:04.937 --> 00:05:05.071 WORST-CASE SCENARIO FOR YOU THAT SOMEWHERE THERE'S A 00:05:05.071 --> 00:05:06.139 WORST-CASE SCENARIO FOR YOU THAT SOMEWHERE THERE'S A PLATE 00:05:06.139 --> 00:05:06.306 WORST-CASE SCENARIO FOR YOU THAT SOMEWHERE THERE'S A PLATE GLASS 00:05:06.306 --> 00:05:06.906 SOMEWHERE THERE'S A PLATE GLASS 00:05:06.906 --> 00:05:07.173 SOMEWHERE THERE'S A PLATE GLASS MESSAGING 00:05:07.173 --> 00:05:07.206 SOMEWHERE THERE'S A PLATE GLASS MESSAGING BANK 00:05:07.206 --> 00:05:07.407 MESSAGING BANK 00:05:07.407 --> 00:05:07.507 MESSAGING BANK IF 00:05:07.507 --> 00:05:07.540 MESSAGING BANK IF THERE 00:05:07.540 --> 00:05:07.807 MESSAGING BANK IF THERE IS 00:05:07.807 --> 00:05:08.174 MESSAGING BANK IF THERE IS A 00:05:08.174 --> 00:05:08.574 MESSAGING BANK IF THERE IS A BANK 00:05:08.574 --> 00:05:08.875 MESSAGING BANK IF THERE IS A BANK RUN, 00:05:08.875 --> 00:05:08.908 MESSAGING BANK IF THERE IS A BANK RUN, FOLLOW 00:05:08.908 --> 00:05:09.042 IF THERE IS A BANK RUN, FOLLOW 00:05:09.042 --> 00:05:09.842 IF THERE IS A BANK RUN, FOLLOW STEPS 00:05:09.842 --> 00:05:09.976 IF THERE IS A BANK RUN, FOLLOW STEPS ONE, 00:05:09.976 --> 00:05:10.243 IF THERE IS A BANK RUN, FOLLOW STEPS ONE, TWO 00:05:10.243 --> 00:05:10.977 IF THERE IS A BANK RUN, FOLLOW STEPS ONE, TWO AND 00:05:10.977 --> 00:05:11.044 IF THERE IS A BANK RUN, FOLLOW STEPS ONE, TWO AND THREE 00:05:11.044 --> 00:05:11.077 IF THERE IS A BANK RUN, FOLLOW STEPS ONE, TWO AND THREE AND 00:05:11.077 --> 00:05:11.244 IF THERE IS A BANK RUN, FOLLOW STEPS ONE, TWO AND THREE AND IT 00:05:11.244 --> 00:05:11.377 STEPS ONE, TWO AND THREE AND IT 00:05:11.377 --> 00:05:11.678 STEPS ONE, TWO AND THREE AND IT DOES 00:05:11.678 --> 00:05:12.078 STEPS ONE, TWO AND THREE AND IT DOES NOT 00:05:12.078 --> 00:05:12.145 STEPS ONE, TWO AND THREE AND IT DOES NOT APPEAR 00:05:12.145 --> 00:05:12.245 STEPS ONE, TWO AND THREE AND IT DOES NOT APPEAR IT 00:05:12.245 --> 00:05:12.445 STEPS ONE, TWO AND THREE AND IT DOES NOT APPEAR IT HAD 00:05:12.445 --> 00:05:13.146 STEPS ONE, TWO AND THREE AND IT DOES NOT APPEAR IT HAD THAT 00:05:13.146 --> 00:05:13.313 STEPS ONE, TWO AND THREE AND IT DOES NOT APPEAR IT HAD THAT AND 00:05:13.313 --> 00:05:13.413 DOES NOT APPEAR IT HAD THAT AND 00:05:13.413 --> 00:05:13.513 DOES NOT APPEAR IT HAD THAT AND IF 00:05:13.513 --> 00:05:13.579 DOES NOT APPEAR IT HAD THAT AND IF IT 00:05:13.579 --> 00:05:13.780 DOES NOT APPEAR IT HAD THAT AND IF IT DID 00:05:13.780 --> 00:05:14.247 DOES NOT APPEAR IT HAD THAT AND IF IT DID IT 00:05:14.247 --> 00:05:14.480 DOES NOT APPEAR IT HAD THAT AND IF IT DID IT DIDN'T 00:05:14.480 --> 00:05:14.914 DOES NOT APPEAR IT HAD THAT AND IF IT DID IT DIDN'T INSTITUTE 00:05:14.914 --> 00:05:15.281 IF IT DID IT DIDN'T INSTITUTE 00:05:15.281 --> 00:05:15.315 IF IT DID IT DIDN'T INSTITUTE IT 00:05:15.315 --> 00:05:15.415 IT 00:05:15.415 --> 00:05:15.548 IT IF 00:05:15.548 --> 00:05:15.715 IT IF IT 00:05:15.715 --> 00:05:16.582 IT IF IT HAD 00:05:16.582 --> 00:05:16.649 IT IF IT HAD IT, 00:05:16.649 --> 00:05:17.083 IT IF IT HAD IT, DID 00:05:17.083 --> 00:05:17.383 IT IF IT HAD IT, DID IT 00:05:17.383 --> 00:05:17.417 IT IF IT HAD IT, DID IT INSTITUTE 00:05:17.417 --> 00:05:17.517 IF IT HAD IT, DID IT INSTITUTE 00:05:17.517 --> 00:05:17.650 IF IT HAD IT, DID IT INSTITUTE IT 00:05:17.650 --> 00:05:17.684 IF IT HAD IT, DID IT INSTITUTE IT BECAUSE 00:05:17.684 --> 00:05:17.850 IF IT HAD IT, DID IT INSTITUTE IT BECAUSE IT 00:05:17.850 --> 00:05:18.151 IF IT HAD IT, DID IT INSTITUTE IT BECAUSE IT WAS 00:05:18.151 --> 00:05:18.284 IF IT HAD IT, DID IT INSTITUTE IT BECAUSE IT WAS A 00:05:18.284 --> 00:05:18.584 IF IT HAD IT, DID IT INSTITUTE IT BECAUSE IT WAS A QUIET 00:05:18.584 --> 00:05:18.618 IF IT HAD IT, DID IT INSTITUTE IT BECAUSE IT WAS A QUIET PERIOD 00:05:18.618 --> 00:05:18.785 IT BECAUSE IT WAS A QUIET PERIOD 00:05:18.785 --> 00:05:18.918 IT BECAUSE IT WAS A QUIET PERIOD BECAUSE 00:05:18.918 --> 00:05:19.619 IT BECAUSE IT WAS A QUIET PERIOD BECAUSE OF 00:05:19.619 --> 00:05:20.219 IT BECAUSE IT WAS A QUIET PERIOD BECAUSE OF A 00:05:20.219 --> 00:05:20.353 IT BECAUSE IT WAS A QUIET PERIOD BECAUSE OF A SHARE 00:05:20.353 --> 00:05:20.420 IT BECAUSE IT WAS A QUIET PERIOD BECAUSE OF A SHARE SALE? 00:05:20.420 --> 00:05:20.820 BECAUSE OF A SHARE SALE? 00:05:20.820 --> 00:05:21.054 BECAUSE OF A SHARE SALE? IT 00:05:21.054 --> 00:05:21.254 BECAUSE OF A SHARE SALE? IT SHOULD 00:05:21.254 --> 00:05:21.521 BECAUSE OF A SHARE SALE? IT SHOULD HAVE 00:05:21.521 --> 00:05:21.854 BECAUSE OF A SHARE SALE? IT SHOULD HAVE SAID 00:05:21.854 --> 00:05:22.288 BECAUSE OF A SHARE SALE? IT SHOULD HAVE SAID SCREW