Well, maybe banks also got into the "tech copycat game" given that, as per current FT headline: "Banks prepare for deepest job cuts since the financial crisis"

Well, maybe banks also got into the "tech copycat game" given that, as per current FT headline: "Banks prepare for deepest job cuts since the financial crisis" [0] . Maybe banks finally managed to become real "fintechs" and achieved being valued as "tech" not as book liquidation value? /sarcasm We most likely see the same people at work, behind the same spreadsheets looking at the same variables (interest rates, current stock prices), the same control variable (labor costs) and having the same incentives (future stock price) and coming to the same conclusion: just get some people out the door. Business models, management quality, growth potential and other so-called "alpha" factors are meaningless when we are obviously at the late phase of a bubble where all the ugliness (from non-sensical bets to outright fraud) comes to the surface. [0] https://www.ft.com/content/4beafb70-ec1a-41d3-b18e-33a85bf2a062 https://www.ft.com/content/4beafb70-ec1a-41d3-b18e-33a85bf2a...