What the Right Got Wrong About “Woke” Banks

The story of Silicon Valley Bank’s collapse isn’t terribly complicated.

The bank was funded by deposits from Silicon Valley firms and venture capitalists that exceeded the $250,000 U.S. deposit insurance cap.

Critics are mostly using “woke” as a byword for “having a diverse staff.”.

Morgan Stanley Research examined 1,875 companies and found that those who scored better on the firm’s proprietary gender-inclusion algorithm outperformed less diverse firms.

The findings, across multiple fields, are remarkably consistent.

The speed by which this omnidirectionally incorrect take about SVB failing on account of its wokeness spread was nevertheless impressive.