Tuesday, February 10, 2026

Lonsdale Excited about Erebor Launch


8VC Founder Joe Lonsdale celebrated the launch of Erebor Bank, recently given a national charter by Trump II's administration.

Erebor is on online bank located in Columbus, Ohio, the location of Anduril's new giant manufacturing plant.


Anduril, founded by Palmer Luckey, has $850 million in economic development subsidies for their plant.  

I hope local banking is not included in the economic development impact analysis.  If it is, someone should remove that contribution.  TechGods prefer to pay fees to themselves while avoiding taxes.

Erebor is effectively the captive bank of Anduril and its more than 4,000 future employees.  Anduril sells military hardware to Uncle Sam.  Erebor was just approved by the feds.  How long before they visit the Fed or Treasury window?  

TechGods can churn taxpayer money as good as any New York City boiler shop can separate retirees from their bank accounts.

Stablecoins, anyone?  Erebor plans to have them in spades at their digital bank in Columbus with a secondary office in New York City.  Please Lord, let it be in an old boiler shop.