Posted on 03/20/2023 4:23:34 PM PDT by ChicagoConservative27
In the aftermath of the collapse of Silicon Valley Bank (SVB), the 16th biggest bank in the country, many are left wondering what went wrong. Both current and former employees have stated that the bank’s support of remote work is a contributing factor.
Axios reports that current and former employees of Silicon Valley bank have mentioned the bank’s support of remote work as a contributing factor to its recent collapse. SVB stood out in the banking sector for its commitment to remote work. “If our time working remotely has taught us anything, it’s that we can trust our employees to be productive from wherever they work,” the company’s career website bragged. The SVB executive team was dispersed across the nation, with CEO Greg Becker occasionally working from Hawaii.
(Excerpt) Read more at breitbart.com ...
I think remote working has contributed to lower productivity wherever it has been tried. Himans are very poor about keeping their promises to work harder tomorrow to make up for the laziness today.
I think remote working has contributed to lower productivity wherever it has been tried. Humans are very poor about keeping their promises to work harder tomorrow to make up for the laziness today.
So remote work caused them to overinvest in Treasury Notes?
Studies have shown otherwise. The last one I saw showed that overall productivity stayed about the same or actually even increased during remote work for the majority of companies.
Depends on the business, I think. Some places are reporting higher productivity absent excessive meetings, long lunches, there’s much less sick time, fewer work related lawsuits, etc.
But this is what happens when the ladies decide that celebrating birthdays and having baby showers at work are more important than ACTUAL WORK.
Remote work didn’t cause them to dump resources and personnel into ESG and DEI while leaving their risk assessment department leaderless and on just a skeleton crew.
Blaming the SVB failure on remote work is like blaming a flat tire for not being able to drive your car when you burned holes in half the pistons and then wonder why the engine seized. The seized engine isn’t why the car won’t go anywhere, it’s gotta be the flat tire - according to these idiots.
The Treasury caused the overinvestment, which is why the Treasury is backstopping them to prop up confidence in T-bills.
All I know is I gain the 2+ hours I lost commuting to and from the office.
I think it caused the Fed to raise rates.
I don’t see how remote work caused a bank failure, in any form, here.
I go in to work only occasionally, now, and it’s team-building exercises and a lot of online meetings.
Staying home and working just makes sense.
P.P.M. contributed the collapse.
Piss
Poor
Management
Simplicity isn’t hard to understand.
Good for you! Plus you save wear and tear on your car and the price of gas!
Because they couldn’t count their FTX coins in person?
I’m thinking that corporate real estate is in trouble because workers at many companies all across the country are happily working from home. This is bad for any Money Men who have ownership of corporate real estate.
Never let a crisis go to waste — SVB failed? Because they made bad investments? And were not paying attention to basic risk management? Well, why not use this crisis and tell everyone that it was REALLY because people were working from home! A lesson for all companies! Force your workers back to the office! It won’t help SVB, but sure would help Money Men who own corporate real estate!
Blame it on remote work, whatever. The way I see it there is mainly one person to blame - Biden.
It’s also a sop to the professional middle management class so many industries are afflicted with in this country...
Blame it on remote work, whatever. The way I see it there is mainly one person to blame - Biden.
Biden’s a pimp. This is the Deep State at work, it goes way beyond Biden.
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