Eric Rice

Most organizations, frankly, are lying about what they're all about.

They have a mission statement that sounds very lofty.

But if you read their legal documents, they have a legal purpose that is something different.

Quite often they have a lofty purpose.

Like I tell the story of Silicon Valley Bank.

That was my bank before it collapsed.

That's why after it collapsed, I wanted to know what happened.

They had a lofty mission that was a mission statement that was like to advance the innovation economy or to move the innovation economy forward.

Something that sounded really good.

It made me feel proud to be a customer.

Oh yeah, that's exactly right.

But their bank, their legal papers are all public and you can read in the documents, it says that their legal purpose is to maximize shareholder value.

If you have this divergence between mission and purpose, eventually the hypocrisy becomes too great and the thing collapses.

That's what we see over and over again.