Silicon Valley Bank went broke, but not because it was woke

An illustration of a piggy bank, a pile of cash, and some coins Passing the buck is an all-American sport | Illustration by Hugo Herrera / The Verge

The culture war has come for the banks, and friends, it is stupid.

There are a wide variety of proposed explanations for the fall of Silicon Valley Bank. For instance, The Wall Street Journal’s editorial page has suggested SVB’s board “may have been distracted by diversity demands” as I guess it had too many women, too many Black people (one), too many queer people (again, one),...

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