... or what is even worse, victims taking the side of their executionners.
Let me be explicit: I do not believe for one second that SVB ex-employees are the victims here. I just wish I earned as much as them.
But yet again, there's no way on earth, that employees WFH would cause SVB going bankrupt, or even being remotedly linked to it going bankrupt. Employees are for a bank, what dimes are in your pocket: they matter, yes, but they won't make you loose your home any time soon. Small change for big executives.
More than a week since the banking crisis started, and we already have a pretty neat picture of the causes: atrocious, outrageous greed, cupidity and stupidity.
At any given time, a bank has a huge portfolio of assets, with varying degrees of risk. A minuscule number of executives, with paycheks tens or hundreds of thousands of times larger than their employees, are the ones in charge of rebalancing said portfolio, with varying degrees of freedom and rewards.
Don't these people never read the news, didn't they hear about inflation, rising interests rates, the war in Ukraine, the changing economic tides?
Of course they did, but rather than take decisions that would make them loose dimes, but save the bank, they preferred to stay as they were: preserve their change, take their millions, and let the bank tank.
It's even worse than that: we're in the middle of a huge confidence crisis in the tech industry. Massive layouts, inflation, the war: people just want their cash, because the conditions have been created that, it's the last resort.
Blaming WFH and 'woke' mentality? Oh man, you really drank the kool-aid, you're really that dumb.