Erebor, a new digital-only bank, has emerged with backing from Peter Thiel and other tech billionaires following the collapse of Silicon Valley Bank in March 2023. The bank aims to provide traditional banking services and support for cryptocurrency transactions, targeting underbanked businesses and non-US firms seeking access to the US banking system.

Peter Thiel emphasizes the importance of clear differentiation both within startup teams and in their overall mission. He argues that having distinct roles among team members and a unique company mission, such as SpaceX's goal to reach Mars, can prevent conflicts and set a startup apart from competitors.