America's new banking crisis; the hazard of Silicon Valley culture; fury in France over Macron's retirement reforms
Fareed Zakaria GPS
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Silicon Valley Bank - Why Did Techies Not See This Coming?
Julian Zelizer: Why did techies not see this coming? It's partly because they're addicted to the idea of being anti-establishment, moving fast and breaking things. They didn't see what other people saw, which was Silicon Valley's balance sheet was sitting on enormous, extremely dangerous losses. He says that when the crisis started, essentially the Silicon Valley community 'panicked' But he adds that many who are supposedly some of the brightest people in America working in Silicon Valley turned out to be unbelievably stupid When it came to looking at basic finance and banking.
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