Mastodawn

Christopher Mims Mar 14, 2023

I'm feeling disagreeable so here goes:

I think the narrative that "Silicon Valley broke its own bank and it's another example of how tech is broken" is complete hokum, and exonerates the actual villains here.

Bank runs happen all the time.

They are what happen when you have insufficient bank regulation.

The bipartisan bill of 2018 that let SVB dodge good banking rules is the actual problem here.

This is not a tech issue, it's a banking one.

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Coach Pāṇini ®

@mimsical @costrike https://ioc.exchange/@vortex_egg/110012132989419668

Scott P. Johnson (@[email protected])

The problem of omni-pundits with fungible expertise is so much worse on Mastodon than it was on Twitter because of the dearth of actual domain experts on here (outside of a small number of niche topics). The result is that the free-floating punditry quickly becomes the dominant attractor for collective sense-making and no one is capable of channeling the collective noosphere away from whatever suboptimal counterknowledge they belch out.

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