SVB took on risk by catering to high risk clients (startups). Growth metrics were great as a result. And stock performed spectacularly (up nearly 6x from April 2020 lows at ath).
More conservative banks like JPM, however, saw modest growth.
If you're a banker and your salary is tied to stock performance, why not just adopt the SVB playbook, take on riskier clients, show strong growth, cash out your stock options, and when it all ends, just walk away without any guilt since the government will bail out your customers anyway?