SVB bears responsibility for its demise, the outcome of disruption being tech's objective function, and the Silicon Valley myth could be the ultimate casualty (Ben Thompson/Stratechery)

Ben Thompson / Stratechery:
SVB bears responsibility for its demise, the outcome of disruption being tech's objective function, and the Silicon Valley myth could be the ultimate casualty  —  Banks are, at their core, facilitators: depositors lend their money to a bank, for which they are paid interest, and banks lend that money out, again for interest.