Relatedly, the motto of Lloyd's of London's - the world's first insurer - is 'In Utmost Good Faith'.
On a tour of their offices, a gentleman told me a perhaps apocryphal story: decades ago, a chap had come to Lloyd's to buy insurance for 25 cargo ships. By mistake, the contract only covered 24 ships.
Of course, the ship that wasn't covered sank. Everything was lost. The ship owner showed up to see what could be done.
The insurer who had underwritten the 24 ships said: "I had intended to cover all 25 ships. Had we gotten the paperwork right, I would be on the hook on. I will happily cover the losses." He acted in Utmost Good Faith.
Silicon Valley tends to celebrate the companies that are best built in an opposing spirit, the Uber's of the world. To be clear, I'm happy Uber exists, and likely couldn't have been built In Utmost Good Faith. (Perhaps to some extent Lyft tried this, with less success).
However, there are some companies that can only be built in a spirit of Utmost Good Faith.
there’s many reasons to be skeptical that “finance culture” as such is a good/healthy thing, but there’s not a single day where i didn’t wish that tech would adopt its wasp norms around basic decency, discretion, and eschewing this gross vulgarity. really low class stuff.