3 ms·
Yeah it’s strange these firms, staffed with expensively educated professionals from top institutions, with decades of industry experience, somehow lose all auto
by spamizbad 4y ago
Yeah it’s strange these firms, staffed with expensively educated professionals from top institutions, with decades of industry experience, somehow lose all autonomy if interest rates get too low for too long.
It seems like every egregious mistake firms make somehow gets traced back to interest rates. A very convenient way to absolve people of responsibility.
- vba616 4y ago>it’s strange I don't understand what's strange about it. Short term thinking spreads even among people who know better because of competition. If you're not taking the risks other people are, then how do you do business? A fairly well known quote from a bank CEO is "As long as the music is playing, you’ve got to get up and dance". The corollary, from that perspective, seems to be that government regulation is required to save industry because individuals can't prevent a crisis.
- FormerBandmate 4y agoTiger Global thrashed every other VC because they did no due diligence, so everyone else stopped doing it. Competition frequently leads to market failures