What did that vc entrepreneur and ceo due in regard to due diligence on his bank and risk management of his firm? Apparently not enough. Which says a lot about his own firm's management.
Don't disagree but think it was more along "everyone's using SVB so they must be good" due diligence. Or put another way, "When everyone's thinking the same - nobody is thinking." Personally believe the ESG angle of this story isn't getting enough airplay. It's a very real problem for any company - especially banks - to think their primary focus is not being a good business but being a societal force for "good"
What did that vc entrepreneur and ceo due in regard to due diligence on his bank and risk management of his firm? Apparently not enough. Which says a lot about his own firm's management.
ReplyDeleteDon't disagree but think it was more along "everyone's using SVB so they must be good" due diligence. Or put another way, "When everyone's thinking the same - nobody is thinking." Personally believe the ESG angle of this story isn't getting enough airplay. It's a very real problem for any company - especially banks - to think their primary focus is not being a good business but being a societal force for "good"
ReplyDelete