Elon Musk dropped by the Real Time with Bill Maher show recently for an interview with the host. Maher, who considers himself a liberal is an obvious fan of the CEO of Tesla and Space X. The centerpiece of their conversation was their discussion regarding what Musk called the “woke mind virus” or what I prefer to call “cancel culture”.
People sometimes get me wrong. They think that because I talk a lot about giving back and living modestly, I must not care about money. On the contrary, I care a lot about money because I understand how our system works.
Those that predicted that the failure of Silicon Valley Bank was just the beginning are turning out to be correct. The sharp rise in interest rates, plus a few regulatory gaps, coupled with the convenience of online banking have created a perfect storm for over-leveraged banks in 2023.