The board of SVB, the parent company of Silicon Valley Bank, included as many people who grieved over Donald Trump’s 2016 victory at a Shinto shrine as investment bankers.
It included as many former Obama administration officials as investment bankers. It included as many former members of improvisational comedy troupes as investment bankers. It included as many Democratic Party politicians as investment bankers.
While investment bankers numbered one on the board, the No. 1 criterion for gaining a seat revolved around donating enormous sums of money to left-wing causes and candidates. The fact that SVB so recently employed Paul, Weiss to conduct an “equity audit” but cared so little about financial audits starts to make sense.
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