Daniel Schwarz

Redeemed / Husband / Father / CFO / Bios Partners

[Daniel Schwarz @DanielJSchwarz]

@twhitfill Congrats to the Azitra team! $AZTR

[Daniel Schwarz @DanielJSchwarz]

@Sanctuary_Bio Biotech equities have longer-duration cash flows and are disproportionately affected by rapid rate hikes just like long-duration bonds. But, if rates have reached stasis the biotech equity premium will always be attractive.

[Daniel Schwarz @DanielJSchwarz]

@hardimanjames This is the crux, ultimately subsidizing VC returns. Great summary! Now do VCs find another bank of choice for venture debt or do valuations compress?

[Daniel Schwarz @DanielJSchwarz]

@LifeSciVC We seek contagion to drive our companies' value and then curse it when it wreaks havoc. Sadly there are many more followers than leaders. The Rapport letter put it well, just signed!

[Daniel Schwarz @DanielJSchwarz]

@BowTiedBiotech Ha, science > econ everytime.
VC returns = long-duration assets lately and both of these are what caused the SVB run.

[Daniel Schwarz @DanielJSchwarz]

@BowTiedBiotech @JonahLupton Yeah, banks' sensitivity to long-duration assets dropping when the Fed hikes rates makes further hikes a potential trigger for systemic stress.

[Daniel Schwarz @DanielJSchwarz]

@msuster This exposes VC's concentration issue. The operational contagion risk from ~50% of VCs using SVB (from their latest update deck) is one thing, but the echo chamber effect in the industry is what turned the spark into a blaze.

[Daniel Schwarz @DanielJSchwarz]

@msuster Totally agree the 2008-again narrative is lazy. From SVB's latest update, their LTV of 43% and quality of assets is a far cry from the excessive risk profiles of banks in 2008.

[Daniel Schwarz @DanielJSchwarz]

@ArmstrongDrew This nails it on the head, concentration of depositors was 63% tech/lifesci and 39% of that was early-stage. Concentration kills.

[Daniel Schwarz @DanielJSchwarz]

@AAAudette from our chat yesterday, people are hungry for connection.

[Daniel Schwarz @DanielJSchwarz]

Marriage is a great look on the mirror.

[Timothy Keller (1950-2023) @timkellernyc]

Marriage does not so much bring you into confrontation with your spouse as confront you with yourself.

[Daniel Schwarz @DanielJSchwarz]

Can't put a diagnosis on malaise very easily, but our addictive and incessantly entertaining culture lulls is to sleep.

[Daniel Schwarz @DanielJSchwarz]

@BrentBeshore Can't put a diagnosis on malaise very easily, but our addictive and incessantly entertaining culture lulls is to sleep.

[Daniel Schwarz @DanielJSchwarz]

Pride pushes me to chaos, but humility restores order.

[Michael Thomas of Sharon 🌳🌳🌳🐑🐕🏡 @MichaelTG09]

In humility I ask that you please think on this.

[Daniel Schwarz @DanielJSchwarz]

@petercouser @raisingcanes You're a lucky man!

[Daniel Schwarz @DanielJSchwarz]

Great example, don't just say "I'll pray for you", do it right there, on the spot!

[Mark Harris @itismarkharris]

Dan Orlovsky didn’t just send off a ‘praying for Damar Hamlin’ tweet.

He paused during NFL Live, bowed his head, and prayed.

Powerful, brave, and genuine. 🙏

[Daniel Schwarz @DanielJSchwarz]

Aggies are among only 9 teams with 3+ wins against ranked teams...but also lost 5 games to unranked teams.

[Colin Cowherd @colincowherd]

Texas A&M is a strange team.

[Daniel Schwarz @DanielJSchwarz]

Introverts should be happier later in life. Also, why doesn't less time with kids/coworkers in the future lead to more time with friends?

[Daniel Schwarz @DanielJSchwarz]

Shocked to see Berkshire Hathaway's largest allocation is 40%. Hopefully the concentration says more about $aapl than $brk.a. Stay diversified my friends!
https://t.co/IiNVRmIQdh

[Daniel Schwarz @DanielJSchwarz]

@TuurDemeester @jack Outrageous news makes you visit more often? Sounds right like #socialdilemma