StarZero All shows Try the podcast clipper →

Kris Dickson

Independent Director, Chewy · 1 appearance on the record.

computed by AI from the episodes · how this works → · full disclaimer →

executiveoperatorinvestor.chewy.com/governance/board-of-directors/person-details/default.aspx?ItemId=fe8b6932-9cbb-4bc4-b771-477bf274ca8f ↗

Kristine Dickson served as CFO and Chief Lending Officer of Lead Bank and spent a decade as CAO and CFO of post-bankruptcy Lehman Brothers Holdings Inc. She currently serves on the board of directors of Chewy, Inc. and as an advisor to Flexible Finance.

11statements → 10claims → 10claims resolved → 90%fully supported → 3.91/5average certainty → 1.64/5average debate potential →

9 supported 0 partly supported 1 contradicted how the 10 claims stand · each chip opens the sources

1 prediction · 9 assertions · 1 opinion · every statement was checked. The prediction and assertions are the 10 claims: statements the public record can support or contradict. 10 are resolved. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Kris argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Dickson: FDIC reported $620B in unrealized US bank losses in Q4 2022
“The report noted that banks' aggregate unrealized losses on securities remain, in their words, elevated at six hundred twenty billion dollars in Q-IV. In fact, throughout 2022, these unrealized losses were materially higher than at any other time in the last 1…”
Kris Dickson Mar 13, 2023 ▶ 8:14 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings

Their most notable contradicted claim

Prediction Didn’t hold up
Dickson: FDIC will orchestrate SVB sale to prevent systemic crisis
“I'm in complete agreement because I think the FDIC is fully aware that the potential crisis of confidence among depositors is something that must be avoided at all costs, and the simplest and most elegant solution to that is orchestrating continuity through a …”
Kris Dickson Mar 13, 2023 ▶ 52:07 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings

Expressed certainty vs assessment result

none yet certainty 1
none yet certainty 2
50% certainty 3
100% certainty 4
100% certainty 5

weighted support: a fully supported claim counts one, a partly supported claim counts half. Each filled bar is clickable and opens exactly those claims; "none yet" means nothing said at that certainty level has resolved yet

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. We have 1,969 words of Kris Dickson, and that is not enough to publish a rate. This says nothing about how they speak.

How the interview went all their pushback → series average →

Across 1 rated episode:

host pushback ▾ 3/10
pushed back at the host ▾ 2/10
setup questions received 20%

Everything Kris Dickson said on 20VC that made the record, most notable first. Filter by type, assessment or year in the ledger →

Opinion
Dickson: Capital concentration into mega-banks would be a travesty
“The community and regional banking system is the lifeblood of our Main Street economy, and if the outcome of all of this is a super concentration of funding and control of the banking system into systemically important institutions, that would be a travesty.”
Kris Dickson Mar 13, 2023 ▶ 16:59 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings
Assertion Supported
Dickson: FDIC reported $620B in unrealized US bank losses in Q4 2022
“The report noted that banks' aggregate unrealized losses on securities remain, in their words, elevated at six hundred twenty billion dollars in Q-IV. In fact, throughout 2022, these unrealized losses were materially higher than at any other time in the last 1…”
Kris Dickson Mar 13, 2023 ▶ 8:14 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings
Assertion Supported
Dickson: Only nine US banks failed in five years post-financial crisis reforms
“After, after Lehman's collapse, and that the global financial crisis, almost 400 banks failed in this three years after Lehman went down. And so then the regulatory frameworks were amped up, liquidity and capital requirements were amped up, and in the last fiv…”
Kris Dickson Mar 13, 2023 ▶ 16:01 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings
Assertion Supported
Dickson: SVB failed due to duration and concentration risks, not credit risk
“For SVB, but unlike Lehman, their investments were in agency-backed MBS and Treasuries, relatively conservative and low risk at the time. They just went long on duration for their investments, and they had concentration risk in their depositor base.”
Kris Dickson Mar 13, 2023 ▶ 20:54 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings
Assertion Supported
Dickson: SVB asset values exceeded total deposits at year end
“Now, if a quick look at their, and SVB's balance sheet as of year end if you take the market value of their investment portfolio, both the AFS securities and the health for maturity securities plus their loan portfolio, which should be saleable it's more than …”
Kris Dickson Mar 13, 2023 ▶ 26:30 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings
Prediction Didn’t hold up
Dickson: FDIC will orchestrate SVB sale to prevent systemic crisis
“I'm in complete agreement because I think the FDIC is fully aware that the potential crisis of confidence among depositors is something that must be avoided at all costs, and the simplest and most elegant solution to that is orchestrating continuity through a …”
Kris Dickson Mar 13, 2023 ▶ 52:07 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings
Assertion Supported
Dickson: SVB invested over $90B in long-dated MBS
“So SVB invested heavily in long-dated securities, over ninety billion dollars, mostly in MBS with maturities greater than 10 years.”
Kris Dickson Mar 13, 2023 ▶ 3:17 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings
Assertion Supported
Dickson: SVB's $15B mark-to-market gap exceeded its Q4 market cap
“At the end of 22, they reported ninety-one billion dollars of held to maturity securities, with the actual value of seventy-six billion. That 15, fifteen billion dollar gap Was bigger than their market cap for most of the fourth quarter.”
Kris Dickson Mar 13, 2023 ▶ 4:21 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings
Assertion Supported
Dickson: SVB depositors tried to withdraw over $40B in one day
“When that didn't materialize, depositors panicked and attempted to withdraw over forty billion dollars in a single day.”
Kris Dickson Mar 13, 2023 ▶ 5:11 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings
Assertion Supported
Dickson: Lehman Brothers Estate Distributed Over $129B by End of 2022
“Through the end of twenty-twenty-two, that estate had liquidated and distributed over a hundred twenty-nine billion dollars of assets.”
Kris Dickson Mar 13, 2023 ▶ 1:42 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings
Assertion Supported
Dickson: FDIC-insured US banks halved over 20 years to 4,700
“There are about 4700 FDIC-insured banks today. That's already down by half from 20 years ago, as they have shut down and been gobbled up by the larger banks.”
Kris Dickson Mar 13, 2023 ▶ 16:47 Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Harry Stebbings

Appearances (1)

EpisodeDateSpeaking time
Jackie Reses & Kris Dickson: What Happened with SVB? Are VCs to Blame? | E988 · 20VC with Mar 13, 2023 10m
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 1,200 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.

Try the podcast clipper Learn more