| Category: General
Wow. Just wow.
Lol. There are enough other semi-reputable things to blame. Twitter, politicians, “woke” Silicon Valley businesses, hell even boogeymen like the woke mob or regulations. Remote work didn’t cause a short-term shortfall or a bank run
Of course. Had nothing to do with SVB not having a risk manager watching their investments.
That doesn’t even make any sense.
Am increase in employee productivity led to their downfall? Sure.
Dear SVB: G.F.Y.
Your own “business practices” and risky behavior caused this.
Stop trying to shift the blame, no one is buying it.
Are you sure it was remote work? Are you sure it wasn’t greed?
“Woke” Remote Work or “Un-Woke??” /s
I would gone with Red Algae or UFOs myself but sure, remote work, why not…
I went into my small, regional bank today to see if the bank was in any danger. They are not, they didn’t invest in crypto or anything as risky as SVB invested in, because they aren’t fucking mooks. They also have a thing called risk management, because they aren’t insane.
I would have blamed the green power ranger honestly…..that damn ocarina
Any idiot knows SVB failed because Tom Brady left the Pats for the Bucs.
SVB failed because of investment decisions that would have had to have been helmed by the absolute highest level of management.
That level of management would enjoy the ability to come and go as they please regardless of SVB’s remote work policy.
Having employees in an office or not would not affect SVBs executives from adopting investment strategies that included covering short term deposits with long term investments without aggressive hedges against interest rate fluctuations.
They choose those instruments because that’s where the highest return was at the time. They did not consider long term implications of that because they were concerned with short term profitability. Likely because their compensation and bonuses hinge on meeting profitability margins, not ensuring the future stability of the bank.
Make bad bond investments. Blame wfh. Classic
Can’t take any responsibility can they?
So I guess remote workers forced them to make risky investments.