Because sometimes all they're after is for slideware on GenAI. The people they fired encapsulated a spirit of innovation that doesn't fit the operating model and therefore is of no value to them.
Credit Suisse is a top 50 bank while SVB doesnt even make the top 100.
SVB dissapearing leads to a lack of choice.
Credit Suisse may pose a genuine global systemic risk.
Ironic that the author calls PMs "not very smart at making product decisions" while the author is not smart enough to understand the role of sales or product.
Also, innovation is not an end in itself. The question is do, PMs add value?
The author is right that the founder is the best product manager and should only handover to a dedicated PM once the business is ready to scale.