The Irony of ChatGPT and Silicon Valley Bank
You really couldn’t dream up this sort of humor. Consider first the mania created by ChatGPT and generative AI. It is truly fascinating a big step forward for both technology enthusiasts and business people looking to understand and leverage data.
The growth of generative AI – and other AI tools like SDRefinery – is a product of many years of technology development. Many of those developments have been funded through Silicon Valley Bank.
SVB is finance central for Silicon Valley technology and surrounding VC ecosystem.
Considering the sophistication and intelligence of the Silicon Valley community, how in the world does SVB get taken down by interest rate risk and the miss matching of assets with liabilities?
This is banking 101.
This is like having a stall car towed only to have the mechanic tell you it is out of gas.
This is calling the Help Desk for an unresponsive computer only to have them tell you that the cord wasn’t plugged into the outlet. The irony of ChatGPT’s success and SVB’s failure is newly minted as Exhibit A to the point SDRefinery AI has been making now for quite some time: you can given people more and more technological tools but ultimately success or failure is still largely dependent on people making the right decision at the right time.