Submitted by work_hau_ab t3_11tu62u in technology
Comments
work_hau_ab OP t1_jckrips wrote
Totally. The entire reason I posted it is because its absolutely ridiculous. Everyone ignores bad decisions and blames it on remote work, wokeness, etc.
SomeGuyNamedPaul t1_jckxx7c wrote
It's more like bad things happen and people blame it on whatever peeve is irking them. It's what happens when your investigation already has a conclusion and just needs you to fill in the rest to suit your wants.
just_nobodys_opinion t1_jcppxg5 wrote
Should have gone in r/facepalm?
CactusCurmudgeon t1_jcksnsz wrote
Seriously. I work remotely for a bank and we're doing just fine.
[deleted] t1_jckybgy wrote
They didn't have a bad strategy. Interest rates and Peter Thiel's VC triggering a bank run is what killed SVB.
Their strategy was so normal and common that any bank could end up in the same way if the same factors are aligned.
arghabargle t1_jcks2db wrote
The articles contains exactly zero input from SVB employees or any tangible argument whatsoever for why remote work had anything to do with things besides that they allowed it, mayhap even encouraged it.
Equivalent-Pop-6997 t1_jcp36y3 wrote
But we clicked the link. “Journalism” 2023 style!
Ssider69 t1_jckt7xk wrote
That's another way of saying "please don't probe our deals"
Yeah ..must be all the remote workers!
shapeofthings t1_jcl0k05 wrote
That's fun. I blame the c-suite myself...
heisenburgscousin t1_jcl4yvb wrote
Top comment
dreamcastfanboy34 t1_jcldhtj wrote
Then why haven't any of the other remote companies gone under? 🤔
thatsglitchy t1_jcktd0r wrote
Of course they do
Shavethatmonkey t1_jckyvui wrote
LOL, sure they do.
Tbone_Trapezius t1_jcle6lk wrote
Since I’m working from home I might as well sink billions of dollars into 10 year bonds.
m4c_4ddr3ss t1_jcmvq74 wrote
Of course they do. Blame anything but yourselves.
helloworld92837 t1_jcmlgt3 wrote
>The immediate cause of SVB's failure, as we've said before, was that the company didn't take into account the risks that a high-interest rate environment, coupled with its concentrated tech-heavy clientele, posed to its balance sheet.
>
>It's certainly possible that if more executives were working in closer proximity those missteps would've been avoided. But it's hard to really know.
I hardly call this blaming remote work for bank failure.
anti-torque t1_jckuqnl wrote
If by "remote work," they mean work was somewhere other than where they were, we are starting to find common ground.
Kazukiba t1_jckzt6m wrote
Does the wife of ceo count as employee?
WillingPurple79 t1_jcnlmwb wrote
You fell off so why would anyone listen to anything you have to say
thegayngler t1_jckr8l2 wrote
We shouldnt be listening to anything a failed bank has to say about their failure. Its just them trying to save face instead of just owning up to their own failures. They had a bad investment strategy or an investment strategy that didnt work. Its that simple. That has nothing to do with “IT” or WFH.