*Ok, that's a lie, I'll still do free Bits and Bobs and the occasional Really Important Thing. But, friends, I'm going paid. Enjoy this last ride!
Accountability. Novel concept. Definitely could use more of that all around.
Logo.com is okay but it’s no Canva.com!
I agree that we need more accountability for these kinds of things. Yet in the SVB case, the rush to judgment is clouding what really happened. As I understand it, the bank was actively trying to FIX the known issue, and fumbled by poorly managing communications with core customers. They had $13B more assets than liabilities, so could have easily survived with a more orderly restructuring of their balance sheet had certain VCs not encouraged a run of the bank. Oh yea, and those VCs were all heavily invested in Crypto and benefited by destabilizing the banks. I'm inclined to agree with Scott Galloway, the primary culpability rests on certain VCs (e.g., Theil, Sacks, et al), not the bank executives.
This: "We keep confusing regulation with accountability."
If the bank executives didn’t break a law how do you prosecute ? The fact that they didn’t make good business decisions or that ignored problems is not a cause for going to jail
Late to the party here, but this stood out:
_We keep confusing regulation with accountability._
Indeed. My friend Nate joked the other day that the “In God We Trust” on US currency should be replaced with “Not My Fault.”
Thanks for recommending Clade. I devoured it over the course of a single day.
STOP - DO NOT INVEST IN SUBSTACK'S BROKEN MODEL!!!
Seriously if they are begging for money and VC bailed it means its a broken model. Think about it, how many regular people are paying per writer $5 to $10 per month? Not enough apparently and the next thing they will introduce is advertising which is 1million times worse. This monetization model is for elites, elite writers and elite readers who can afford to pay to "benefit" from their writing. Its not Twitter but its just as elitist as Twitter and will devolve into the same mess and control mechanism.
Go check out web3. Go check out crypto. Go check out the MVP of my solo hobbiest project "dplatform.me" The next platforms will be web3, crypto, micro-transactions, and governed by decentralized autonomous organizations (DAOs) or no one
The future is decentralized!
Time to buy all the neighbor's houses to store all the cars.