4 ms·
Agreed, GPT etc. (I hate calling it AI) is going to be transformative and disruptive in the classic sense. And I too am surprised that we'd be here in 2023. Ag
by lordfrito 4y ago
Agreed, GPT etc. (I hate calling it AI) is going to be transformative and disruptive in the classic sense. And I too am surprised that we'd be here in 2023.
Agreed SVB wasn't subject to SBF type people. But I think that a lot of tech narratives/buzzwords get thrown around (Web 3.0, transformation, green economy, etc) when in actuality its just the same old sociopathic wall street behavior, dressed up in new jargon.
I've seen articles talking about how the SVB board knew something was up. Their risk committee met more than 18 times in 2022 (up from 7 in 2021). Yet they had no chief risk officer? [1]
And I agree, not fair when average people get caught up in this. Which is why I'm a fan of holding the people responsible accountable, so we can avoid a repeat of this in the future. Bailouts just encourage further bad behavior.
[1] https://www.forbes.com/sites/noahbarsky/2023/03/12/silicon-valley-bank-proxy-shows-boards-secret-yearlong-risk-panic/?sh=1d27d6071e7b https://www.forbes.com/sites/noahbarsky/2023/03/12/silicon-v...