Silicon Valley Bank Was More Interested in LGBTQ Activism Than Making Money
The primary concern of the people who ran the Silicon Valley Bank (SVB) -- the bank that just went bust -- was not banking. Nor was it making money for the bank's shareholders or safeguarding the funds of its depositors.
Their primary concern was social activism -- LGBTQIA+, DEI (Diversity, Equity, Inclusion), ESG (Environmental, Social, and Governance) and climate change.
In fact, for nine months -- from April 2022 until only eight weeks ago -- SVB in America didn't even have a chief risk officer (CRO). It did have a CRO for Europe, Africa and the Middle East; but the woman entrusted with that role, Jay Ersapah, was apparently considerably more interested in left-wing activism than in risk assessment.
The Daily Mail reported that Ersapah -- who identifies herself as a "queer person of color" -- "organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented 'safe space' catch-ups for staff. In a corporate video published just nine months ago, she said she 'could not be prouder' to work for SVB serving 'underrepresented minorities.'"
"Professional network Outstanding listed Ersapah as a top 100 LGTBQ Future Leader.
"Jay is a leading figure for the bank's awareness activities including being a panelist at the SVB's Global Pride townhall to share her experiences as a lesbian of color, moderating SVB's EMEA (Europe, Middle East, Africa) Pride townhall and was instrumental in ... supporting employees in sharing their experiences of coming out," her bio on the Outstanding website states.
"It adds that she ... had authored numerous articles to promote LGBTQ awareness. These included 'Lesbian Visibility Day' and 'Trans Awareness Week.'"
How is one to explain SVB's -- and for that matter, virtually every major bank's -- woke activism?
There are a number of possible reasons, but here is one that explains the left-wing activism of almost every profession.
Beginning in the second half of the 20th century, people in nearly every white-collar profession ceased finding their work inherently meaningful. So, they sought to use their profession to change the world.
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