Former MySpace executive and American entrepreneur Ted Dhanik took a minute to speak with FACTZ at Craig’s Restaurant in West Hollywood, California.

When asked if people should pull their money from banks, Dhanik seemed amused by the concept of it, calling bank runs “primitive and silly.” Dhanik explains that people pulling money out of banks causes instability, which leads to big government bailouts. Then the banks come out stronger in the end, and everyone panicked for no reason.

As for himself, Dhanik feels comfortable with his money – praising his Tesla stocks and brushing off questions about gold.