The deeper problem is that businesses are now expected to be funded by investors. There was a time when banks funded new businesses with loans, but now most of their lending is mortgages. Banks were better because they would lend to any business they thought wouldn't go bankrupt and weren't subject to FOMO and thinking only about future profits/exit, which they weren't entitled to.

Question is, is it really impossible for businesses to fund themselves with bank loans now? John Kay wrote about this years ago arguing the finance sector is no longer a good thing for society but has become more of a leech: taxing the money supply but not supporting new businesses. I feel like it's only become worse now. Even insurance is barely really insurance any more. It's more like a savings account that you might be able to withdraw from when you need it, but not necessarily.