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"It’s such a phenomenally pedestrian crisis compared to the absurd crypto flameouts we’ve gotten accustomed to in the past year. SVB didn’t bet it all on ape JPGs or invent some new derivative scheme that got out of control. It just… borrowed short and lent long." @davekarpf

The finance, tech, and VC worlds are not run by innovative geniuses trying to make the world better, they're mostly just bad poker players gambling with other people's money.

#cmonson #chicanery

https://davekarpf.substack.com/p/three-thoughts-on-silicon-valley