One claim out there, from the Wall Street Journal and others, was that SVB failed because of their focus on diversity and woke culture at the expense of their business. This prompted me to take a peek at their executive leadership on their web page, which has since been removed. What I saw was an all white executive team. There were three women, in charge of HR, Marketing, and Chief Risk Officer. In other words, the three jobs of no interest to a bunch of bros. It's worth noting that the risk management position had been vacant since early 2022 and was only filled in December. That women is, in my estimation, the hands down winner of the glass cliff award of 2022.
* While I'm venting I would like to propose a new rule: White people can never, under any circumstances, use "woke" as an adjective.
Fascist Snowflakes!! They are the work of Julie Meyerson Ross, sister of long time local journalist Charlie Meyerson (I've subscribed to his Chicago Public Square for a few years now. It was so cool to see Julie's designs in action! Charlie posted about his sister and the snowflakes in his newsletter a few days ago.
I love you for lots of sincere, heartfelt, *serious* reasons, but today these two much more selfish and snarky reasons win out for top prize.
1) Posting a recipe for a grapefruit juice cocktail, which is always my favorite base for cocktails. Bless your sweet ass.
2) This line: "by absolutely panicking when he got to the find out part of all his fucking around." Luckily, no one else is in my office because I guffawed in an unsightly and unladylike way, and I prefer not to be observed being unsightly.
You are outstanding, Lyz! Thank you so very much for clarifying the banking fiasco. I absolutely LOVED the snowflake “gift” to the repubs. That made my morning! And also thank you for the info to donate to the Trans Mutual Aid Fund. I did.
I am a huge proponent of the MulBev way of life! When I was a kid, I imagined that this was what defined rich people - the ability to have multiple drinks going simultaneously. And why not? If you have three things on your plate (protein, starch, vegetable), why shouldn't you have three beverages to match?!
The chairman of Signature Bank is a known personality in the Jewish communal and philanthropic leadership here in NY. He's a really good, thoughtful, compassionate person, on many levels - frankly, it sucks that his work of decades was vaporized overnight, to say nothing about Signature's employees, stockholders, etc. There's going to be downstream damage.
Lyz, your framing is so good because it really highlights the immaturity here of the big clients. If everyone had just remained calm and not rushed to pull their money out of the bank, everything would have been fine. But it turns out that the same people who tell us all the time how good they are at self-regulating are the FIRST to panic and overreact whenever their own interests are even remotely endangered. Which is, of course, why it's important to have regulations in the first place.
It's heartening to hear how much money has been raised. I've been pretty upset by the silence of most cis straight people over all the anti-LGBTQ+ legislation, so this makes me feel a little better. Thanks for stepping up, folks!
Thank you for this. Randomly, my mom is a self determined Liz. I run my own trans aid fund here as he’s in college now and we live in Missouri, but wow this is awesome. Three, great pic and need source for that flannel shirt.
It’s fascinating how much of this money these people have, and live off of, is mostly imaginary, and all it takes is a few freaked out funds - like, oh, PETER THIEL’S FOUNDERS FUND - to start pulling money out for the house of cards to collapse until Daddy Fedbucks shows up and tells them everything’s gonna be okay.
These people make money out of thin air and then are “made whole” while banks reap the poor. Apropos of nothing, the French are doing it right as their government tries to make the retirement age 64. Lotta good ideas, those French, about bringing the rich and powerful to heel.
Dingus of the Week: Venture Capitalists
One claim out there, from the Wall Street Journal and others, was that SVB failed because of their focus on diversity and woke culture at the expense of their business. This prompted me to take a peek at their executive leadership on their web page, which has since been removed. What I saw was an all white executive team. There were three women, in charge of HR, Marketing, and Chief Risk Officer. In other words, the three jobs of no interest to a bunch of bros. It's worth noting that the risk management position had been vacant since early 2022 and was only filled in December. That women is, in my estimation, the hands down winner of the glass cliff award of 2022.
* While I'm venting I would like to propose a new rule: White people can never, under any circumstances, use "woke" as an adjective.
Fascist Snowflakes!! They are the work of Julie Meyerson Ross, sister of long time local journalist Charlie Meyerson (I've subscribed to his Chicago Public Square for a few years now. It was so cool to see Julie's designs in action! Charlie posted about his sister and the snowflakes in his newsletter a few days ago.
https://www.chicagopublicsquare.com/2023/03/do-what-my-dad-did-not-two-down.html
You make Fridays better. That is all. Thank you.
I love you for lots of sincere, heartfelt, *serious* reasons, but today these two much more selfish and snarky reasons win out for top prize.
1) Posting a recipe for a grapefruit juice cocktail, which is always my favorite base for cocktails. Bless your sweet ass.
2) This line: "by absolutely panicking when he got to the find out part of all his fucking around." Luckily, no one else is in my office because I guffawed in an unsightly and unladylike way, and I prefer not to be observed being unsightly.
You are outstanding, Lyz! Thank you so very much for clarifying the banking fiasco. I absolutely LOVED the snowflake “gift” to the repubs. That made my morning! And also thank you for the info to donate to the Trans Mutual Aid Fund. I did.
Yes the mindless pursuit of money but let’s not discount religious fanaticism which is always good for a farce on every other day.
I am a huge proponent of the MulBev way of life! When I was a kid, I imagined that this was what defined rich people - the ability to have multiple drinks going simultaneously. And why not? If you have three things on your plate (protein, starch, vegetable), why shouldn't you have three beverages to match?!
The chairman of Signature Bank is a known personality in the Jewish communal and philanthropic leadership here in NY. He's a really good, thoughtful, compassionate person, on many levels - frankly, it sucks that his work of decades was vaporized overnight, to say nothing about Signature's employees, stockholders, etc. There's going to be downstream damage.
Lyz, your framing is so good because it really highlights the immaturity here of the big clients. If everyone had just remained calm and not rushed to pull their money out of the bank, everything would have been fine. But it turns out that the same people who tell us all the time how good they are at self-regulating are the FIRST to panic and overreact whenever their own interests are even remotely endangered. Which is, of course, why it's important to have regulations in the first place.
Ah, libertarians! They get so testy whenever I shove them off the public sidewalk. But trespassing is trespassing.
It's heartening to hear how much money has been raised. I've been pretty upset by the silence of most cis straight people over all the anti-LGBTQ+ legislation, so this makes me feel a little better. Thanks for stepping up, folks!
Thank you for this. Randomly, my mom is a self determined Liz. I run my own trans aid fund here as he’s in college now and we live in Missouri, but wow this is awesome. Three, great pic and need source for that flannel shirt.
Great picture. You look like MulBev was definitely in play, which sounds like a fine time. Also, absolutely cackled at the snowflake.
Oh, I definitely had to share the Ron DeSatan picture with my dear Florida-residing friend.
That snowflake. Incredible.
Great read today - thank you!
It’s fascinating how much of this money these people have, and live off of, is mostly imaginary, and all it takes is a few freaked out funds - like, oh, PETER THIEL’S FOUNDERS FUND - to start pulling money out for the house of cards to collapse until Daddy Fedbucks shows up and tells them everything’s gonna be okay.
These people make money out of thin air and then are “made whole” while banks reap the poor. Apropos of nothing, the French are doing it right as their government tries to make the retirement age 64. Lotta good ideas, those French, about bringing the rich and powerful to heel.