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4min chapter
The SVB bank failure, explained.
Tangle
Silicon Valley Bank's Failure Is Not a Bailout
This did not happen because of wokeness or diversity demands. The Bay Area is a liberal bastion and SVB's limited attention to diversity, equity and inclusion was probably more about good business than any devotion to DEI. It turns out the brilliant startup folks in Silicon Valley are not infallible geniuses. What is interesting and perhaps most frightening about this entire episode is just how wrong all the smartest people in the room seem to have been.
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