As losses mounted, Silicon Valley Bank doubled down on woke investments and left-wing rhetoric

There may have been larger trends in various markets that hurt SVB, but it was bad management that caused the failure.

Democrat solutions:

Sen. Mark Kelly Wanted Social Media Censorship to Prevent Bank Runs

Related:

Who Killed Silicon Valley Bank?

“…Apparently no one at the firm perceived any risk from the Fed raising interest rates…

…Was there regulatory failure? Perhaps. SVB was regulated like a bank but looked more like a money-market fund. Then there’s this: In its proxy statement, SVB notes that besides 91% of their board being independent and 45% women, they also have “1 Black,” “1 LGBTQ+” and “2 Veterans.” I’m not saying 12 white men would have avoided this mess, but the company may have been distracted by diversity demands.

Management screwed up interest rates, underestimated customer withdrawals, hired the wrong people, and failed to sell equity. You’re really only allowed one mistake; more proved fatal. Was management hubristic, delusional or incompetent? Sometimes there’s no difference…”