The downfall of the Silicon Valley Bank affected Reddit co-founder Alexis Ohanian personally. Obviously, it was a loss that many other tech startups and companies also faced. However, the husband of Serena Williams made sure to use his social media platforms, especially Twitter to spread important information. But that does not mean everyone was sailing in the same boat. So, when the government stepped up, Ohanian felt that the same people should show gratitude to President Biden.
Discontent was prevalent, and the fears were soaring high. However, the government took matters into its hands and extended the date to let the depositors have access to their money.
Alexis Ohanian asks Twitter users to acknowledge the efforts of President Joe Biden and his government
The collapse of Silicon Valley Bank was something that no one had seen coming. A lot of tech startups and their founders had deposited their money in the bank. The payroll of these companies was coming from the bank, so it was obviously a stressful situation.
However, the federal government took the matter into its hands and found a solution to it. That is why Ohanian wished for people to acknowledge its efforts. In a CNBC podcast, Ohanian stated, “I think a lot of folks saw some pretty heated tweets from the community.”
But the federal government did the damage control, and the situation calmed down. He added, “I do hope the very same folks using their platforms to spread alarm and concern are also gonna use those platforms to say thank you to appreciate the fact that Secretary Yellen and the Fed, President Biden stepped up here.”
Furthermore, Ohanian credited people who helped to spread the message and calm down the apprehensions of the depositors. He stated, “Because it was a crucial need and credits to folks, Congressman Ro Khanna and folks going to get the word out both publicly and behind the scenes actually gets work done here.”
The prevalent frenzy that has become the new normal when things go down was common in this case too. Many Twitter users raised alarm regarding the situation.
Husband of Serena Williams on the toxic effect of social media
Despite being a Twitter Junkie, Ohanian knew he carries the responsibility of making sound comments. However, not everybody thought like him, and some users raised tension amongst the people. During the same interview, he stated social media became a home for this catastrophe and called it a “perfect storm.”