I think BruceS warned us all about this at south by about ten years ago [0]. Forget exactly where it happens in this talk but he basically tells the audience that if they want to live by disruption, they will die by disruption, and that they have built their castles on shifting sand. Great talk imho
edit: this is actually a long now talk, will edit later if I find exactly the talk am looking for, but should be close
SVB made bad bets and mismanaged risk. These firms should fail to make room for better firms. And people that work with mismanaged firms will often take a loss, often via bankruptcy.
Startups liked SVB because they would take risks big banks wouldn’t. Well risk comes at a cost.
The government’s role here isn’t to make everyone whole. It’s to prevent contagion.
edit: this is actually a long now talk, will edit later if I find exactly the talk am looking for, but should be close
[0] https://soundcloud.com/longnow/the-singularity-your-future-a...