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While Silicon Valley and the venture capital ecosystem don't come out of this looking sterling, it seems like this crisis was precipitated mostly be the financi
by paddw 4y ago
While Silicon Valley and the venture capital ecosystem don't come out of this looking sterling, it seems like this crisis was precipitated mostly be the financial mismanagement of a single entity, combined with exogenous factors in the U.S economy. There is clearly a lot of interest among some parties on trying to place blame on the tech ecosystem as a whole. Of course, SV is not blameless, but I think a lot of the characterization here is biased overall.
- game_the0ry 4y ago> Of course, SV is not blameless, but I think a lot of the characterization here is biased overall. I am sort of a silicon valley hater myself, but I agree that SV is not the only party to blame, not should it take the lion's share of the blame. SV did what SV does - take big risks. It did not help that the federal reserve help turbo charge risky investments via extraordinarily accommodative monetary policy. To blame SV alone is to ignore a bigger problem, which is the fed.
- wankle 4y agoI'd like to clarify, who is the fed? The federal government? If so, would that go as high as the sitting president?
- shkkmo 4y agoIn the USA: "The Fed" (singular) almost always, but especially in this context, means the Federal Reserve. "The Feds" (plural) usually refers to some or another branch of federal law enforcement, especially the FBI. It occasionally refers to a non-law enforcement federal agency.