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by JumpinJack_Cash
1192 days ago
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Not falling for promotion and groupthink. Banking should be an 'alpha safe-haven' . Meaning you should not be looking for alpha in banking. Like gasoline, coal and bricks. They are all the same everywhere. People went looking for alpha in banking with SVB, because of the illusion that having Silicon Valley in the name would make them somehow better than all the other banks which (very much like SVB) are also operating in a business which is 500 years old. If you equate Silicon Valley (the place) with innovation then Silicon Valley (the name) has no business being written in front of the word 'bank'. Because you cannot re-invent the wheel in a 500 year old business, no matter how shiny is your AI or however fast is your blockchain or whatever other buzzword you are using to promote yourself to customers and investors alike. |
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