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> An explainer post [1] connected to that Tweet is something I found extremely informative (assuming it's accurate): [1] - https://twitter.com/jamiequint/statu

by lapcat 4y ago

> An explainer post [1] connected to that Tweet is something I found extremely informative (assuming it's accurate): [1] - https://twitter.com/jamiequint/status/1633956163565002752 https://twitter.com/jamiequint/status/1633956163565002752 That tweet is unattributed verbatim from https://www.livemint.com/news/world/explainer-silicon-valley-bank-crisis-what-led-to-stock-crash-what-lies-ahead-11678419807090.html https://www.livemint.com/news/world/explainer-silicon-valley... [EDIT:] See the thread, it seems that the story may have stolen from the tweet! Pretty shocking for one of India's biggest business publications (and with 2 million Twitter followers).

rvnx 4y ago
He is correct, but he is blaming the FED raising interest rates. The responsible is not the FED, but the negligent management of SVB that purchased such products because of greediness. When interest rates raise, previously issued bonds lose in value because there are more attractive ones available. It's like if they missed the Chapter 1 lesson about investing into bonds.
- baremetal 4y ago
  If you inspect the values of SVB here: https://www.svb.com/about-us/living-our-values https://www.svb.com/about-us/living-our-values You can see that managing money responsibly is not one of their values.
  - generj 4y ago
    So because they have one webpage giving lip service to diversity and the environment, they automatically don’t value their core competency? I’ve seen a few conservative tweets trying to tie DEI and ESG into SVB’s collapse in a weird attempt to tie it to a cultural war. It just doesn’t make any sense. DEI and ESG are side shows for just about any company and probably pay for themselves as marketing and employee retention for a Silicon Valley focused bank. The values “We keep learning and improving”, “We take responsibility”, and “We speak and act with integrity” would all play into managing money responsibly.
    - baremetal 4y ago
      >So because they have one webpage giving lip service to diversity and the environment, they automatically don’t value their core competency? Not enough to put it on the page where they discuss things they value as an enterprise. Seems kinda important to leave out. And speaks to the failure of competency. They don't value merit, they value meeting arbitrary quotas to look good, and now they met their end. Totally relevant.
jamiequint 4y ago
My tweet was posted before that article.
- lapcat 4y ago
  What are you saying? 1) You wrote the Mint article. 2) Mint took the text from your tweet unattributed. 3) ???
  - jamiequint 4y ago
    Looks like #2
    - lapcat 4y ago
      > Looks like #2 Wow, this appears to be the case, at least judging from the timestamp on the first reference I could find: https://twitter.com/livemint/status/1634091187442266112 https://twitter.com/livemint/status/1634091187442266112 That's massive journalistic malpractice!
lapcat 4y ago
Some people are downvoting my reply to jamiequint https://news.ycombinator.com/item?id=35100305 https://news.ycombinator.com/item?id=35100305 but if that comment becomes dead then you won't be able to see his reply to me or the surprising conclusion of the story.

by lapcat 4y ago

rvnx 4y ago

He is correct, but he is blaming the FED raising interest rates. The responsible is not the FED, but the negligent management of SVB that purchased such products because of greediness. When interest rates raise, previously issued bonds lose in value because there are more attractive ones available. It's like if they missed the Chapter 1 lesson about investing into bonds.

baremetal 4y ago
If you inspect the values of SVB here: https://www.svb.com/about-us/living-our-values https://www.svb.com/about-us/living-our-values You can see that managing money responsibly is not one of their values.
- generj 4y ago
  So because they have one webpage giving lip service to diversity and the environment, they automatically don’t value their core competency? I’ve seen a few conservative tweets trying to tie DEI and ESG into SVB’s collapse in a weird attempt to tie it to a cultural war. It just doesn’t make any sense. DEI and ESG are side shows for just about any company and probably pay for themselves as marketing and employee retention for a Silicon Valley focused bank. The values “We keep learning and improving”, “We take responsibility”, and “We speak and act with integrity” would all play into managing money responsibly.
  - baremetal 4y ago
    >So because they have one webpage giving lip service to diversity and the environment, they automatically don’t value their core competency? Not enough to put it on the page where they discuss things they value as an enterprise. Seems kinda important to leave out. And speaks to the failure of competency. They don't value merit, they value meeting arbitrary quotas to look good, and now they met their end. Totally relevant.

jamiequint 4y ago

My tweet was posted before that article.

lapcat 4y ago
What are you saying? 1) You wrote the Mint article. 2) Mint took the text from your tweet unattributed. 3) ???
- jamiequint 4y ago
  Looks like #2
  - lapcat 4y ago
    > Looks like #2 Wow, this appears to be the case, at least judging from the timestamp on the first reference I could find: https://twitter.com/livemint/status/1634091187442266112 https://twitter.com/livemint/status/1634091187442266112 That's massive journalistic malpractice!

lapcat 4y ago

Some people are downvoting my reply to jamiequint https://news.ycombinator.com/item?id=35100305 https://news.ycombinator.com/item?id=35100305 but if that comment becomes dead then you won't be able to see his reply to me or the surprising conclusion of the story.