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by gr1zzlybe4r 1171 days ago
Still surprising to me how tech is trying to spin this as some novel event.

Fractional reserve banking was a known quantity. Risk management of your cash matters in a system like that. Full stop. Whether you think fractional reserve banking is dumb idea is a different discussion, but to willfully pretend that the depositors weren't at least partially culpable for this collapse is something else.

Tech has no humility.
2 comments
deathbyrtlmt 1170 days ago
What even do you mean by “tech”? Tech has no humility? Nonsense.

Nobody has humility. Everyone trying to build a business fakes it. Your HVAC guy is highly likely to be a bozo (and overcharging besides). This isn’t “bad” it just is.

Tech is people. People suck.

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ClumsyPilot 1171 days ago
> Tech has no humility.

or self-awareness

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gr1zzlybe4r 1171 days ago
Right. It is incredible to me that a lot of "thought leaders" are acting like this situation hasn't been handled in a structured way since the 30s by the FDIC.

It has really made me believe that a lot of tech is just grifters reinventing wheels everywhere, but with great marketing.

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