[1] - https://twitter.com/jamiequint/status/1633956163565002752
That tweet is unattributed verbatim from https://www.livemint.com/news/world/explainer-silicon-valley...
[EDIT:] See the thread, it seems that the story may have stolen from the tweet! Pretty shocking for one of India's biggest business publications (and with 2 million Twitter followers).
When interest rates raise, previously issued bonds lose in value because there are more attractive ones available.
It's like if they missed the Chapter 1 lesson about investing into bonds.
You can see that managing money responsibly is not one of their values.
I’ve seen a few conservative tweets trying to tie DEI and ESG into SVB’s collapse in a weird attempt to tie it to a cultural war. It just doesn’t make any sense. DEI and ESG are side shows for just about any company and probably pay for themselves as marketing and employee retention for a Silicon Valley focused bank.
The values “We keep learning and improving”, “We take responsibility”, and “We speak and act with integrity” would all play into managing money responsibly.
Not enough to put it on the page where they discuss things they value as an enterprise. Seems kinda important to leave out. And speaks to the failure of competency.
They don't value merit, they value meeting arbitrary quotas to look good, and now they met their end. Totally relevant.
1) You wrote the Mint article.
2) Mint took the text from your tweet unattributed.
3) ???
Wow, this appears to be the case, at least judging from the timestamp on the first reference I could find: https://twitter.com/livemint/status/1634091187442266112
That's massive journalistic malpractice!