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You're using the word "defect" to describe someone pulling their money from a bank? Seriously? It is so easy to assign blame apparently...
by lynx23 4y ago
You're using the word "defect" to describe someone pulling their money from a bank? Seriously? It is so easy to assign blame apparently...
- flandish 4y agoI agree. This all reads like a solid reminder that two things happen in that realm of highly VC funded systems: - Investment/money management often happens by people who are very new to this process and make swift sometimes stupid decisions. - Everyone else is clearly in the “protect profit” game, even if that means ignoring the clearly stupid things svb (and really the entire system) did/does. Mort backed securities, crap from the 08 markets, deregulation.. etc. A failing bank should not crash the economy nor should a bunch of startups failing as a result crash too. Poor startup decisions are one thing. But “too big to fail” things maybe need to be smaller or nationalized? I realize the site I’m on, and know I am still learning about this. I have just, in all my (short 43) years, felt the “too big to fail” reason pop up more than it seems it should because, to me, it means “gov must protect my profit, or I’ll deadman switch the economy.”
- fwlr 4y ago“Cooperate” and “defect” are technical terms in game theory, they don’t carry their usual connotations here.