Lets not blame remote work as the reason SVB "[locked] up half of its assets in a $91bn portfolio of securities that made it vulnerable to rising interest rates" and not having a hedge.
This failure had nothing to do with remote work and everything to do with executives gambling.
In a story in the Financial Times out Thursday, current and former Silicon Valley Bank employees cited the bank's commitment to remote work as one reason for its failure.
A bit weird for axios not to link the article in that first sentence but I believe this is it: https://archive.is/0L9UE
From that article:
the bank acknowledged in its annual report that it “may experience negative effects of a prolonged work-from-home arrangement”.
Then it cites this "expert":
“It is harder to have a challenging call over Zoom. It makes it harder to challenge management,” said Nicholas Bloom, a professor at Stanford University who has studied remote working extensively. “Ideas like hedging interest rate risk often come up over lunch or in small meetings.”
Anything that can come up over lunch or in small meetings can be also brought up in the variety of remote work tools including: zoom/teams/mattermost/slack/email.
The real headline here is SVB culture:
entertaining entrepreneurs and venture capitalists at ski trips, baseball games and private boxes at concerts.
lent billions of dollars to wineries and vineyards where it could network with clients and send wine to its customers’ parties.
“I almost felt like I was at work on a college campus"
internal conflicts as a result of its rapid expansion
spending nearly $1bn to acquire Boston Private, the unit suffered a rush of departures shortly after the deal closed
And Boston Private culture?
post-merger environment as “toxic” before storming off to cross-town rivals, according to deposition testimony and internal emails made public in the company’s lawsuit against four former employees. In the span of 12 months, its assets under management fell from $9.3 billion to $7.1 billion, and the unit went from profit-maker to money-loser
See https://www.bizjournals.com/boston/news/2016/07/14/the-insid...
So again nothing to do with remote work.