skysight-inc/HackerNews huggingface dataset:
That's $23 billion of non-deposit liabilities that will be junior to the deposits.
If someone well capitalized buys the bank, then they don't need to liquidate. The bonds aren't worthless, they just trade much lower now that interest rates have risen, however if you can wait until they mature you will get your money + interest.
> One time, I bought a fancy wallet

I've been using the same briefcase for probably 30 years (bought to hold a laptop yet still fit under an airline seat). It's pretty beat up — but for lawyers a beat-up briefcase is something of a status symbol, kind of like Willie Nelson's guitar "Trigger."

https://guitar.com/features/interviews/story-of-willie-nelso...
>it wasn't the risk-taking that did them in [...] didn't adequately account for duration risk.

This sounds like risk taking to me.
"The US" doesn't accuse anyone.

We who know anything about Russia might however.

And, I think if you look around a little you'll find access to outside information and options to distribute it way harder in Russia.

Also, the lies they serve are hilarious: just today I saw a video with one of the chief propagandists claiming on TV that people in the UK hunt squirrels for food :-)
The Demise of Silicon Valley Bank
Have a look at https://rr-project.org/ (features and motivation are on that page). (Also mentioned in the article.)

It works on recorded state. It's not about executing a program again, it's about root causing a failure by going back in time after the failure happened. You can do things like start with a crash, retroactively set a break point and reverse run back in time until you hit it.

It's for real world applications. It was written specifically to debug Firefox, and has since been used for other applications of similar size.

It's basically GDB with extra commands, so very easy to use and learn if you know GDB. Highly recommend.
Once the FDIC kicks in they can sell off to a different bank which can absorb them without touching the open market. Alternatively the FDIC can guarantee the bank for the duration necessary to sell assets slowly. They could likely sell the bank as a whole to another bank if assets>liabilities without too much disruption.
No he wasn't. Most of the people I have connected to via social networks do not appear in my phone contacts. And the social networks themselves do not have my phone number.
Unless you had your money there the only change in your life will be the headlines you glaze over.
Try to walk to BofA as an entity that didn't exist yesterday and see how that goes.
Paste Text Only Shortcut in Word
If the potential for a few felony prosecutions for a few attempted crimes is your standard for abridging privacy, it was always a very low standard. People you aren't watching are always committing crimes, even more than people who are being watched. If the potential for any sort or level of crime creates a legitimate purpose, there's a legitimate purpose in surveilling everyone, at all times.

That won't happen, though, it will be governments and corporations surveilling everyone else while remaining completely opaque themselves.
You've got that backwards. Reread the tweet you linked to:

"Only 2.7% of SVB deposits are less than $250,000. Meaning, 97.3% aren't FDIC insured."

Not a good situation at all.
Did that applicant claim to be the original author of that implementation? I don't see why it would be an issue otherwise...
SIVB: Held-to-Mortem Governance
America is really atrocious when it comes to data protection accountability. I wonder if Cerebral customers will have to sue in a class action to get any legal recourse.
The FDIC hasn't taken over the SVB web site yet.[1]

"Through our relationships with more than 50% (approximate) of all venture backed companies in the US, and with funds and corporations across the globe, SVB Capital’s family of investment solutions give you unmatched access to this unique asset class."

Their online operations have to be drastically changed. Did their ATM cards stop working yet?

The FDIC usually takes over banks at the close of business on a Friday, using the weekend to audit and reorganize. That this happened at the end of Thursday hints that the situation was bad, so bad that another day of withdrawals would have been too much.

[1] https://www.svb.com/
I'm almost the opposite. Cheap notebooks feel crappy. the covers feel crappy, the paper isn't smooth when you write on it. They actively make me want to NOT interact with them.

For me, the Rhodia Webnotebook is a nice "not cheap" notebook with great paper. It handles my heavy flow pens, and pens and pencils both slide across it with a wonderful smooth feel.
I have some family who (with some other partners) founded a small community bank that has grown over the years.

They expanded in some areas by buying other small community banks, specifically in areas where there was a big increase in income in the local area (from mineral rights, etc).

The smaller banks that they bought were in a situation where suddenly they had large amounts of cash incoming, and customers who were paying off / not taking out loans like they used to.

They didn’t have the reach (mostly confined to a small rural region) to use that cash to give out loans elsewhere so they looked to merge or be bought by someone who did.

Until I heard about those banks I hadn’t considered “too much money” was a problem.
I used to purchase notebooks for journaling but had a similar hangup to some other posts on this thread. I just though that it was a hard sell to continually have to shell out a bunch of cash for the sexy notebooks when all the materials for a passable alternative are essentially free if you can tap into the waste of a typical pre-pandemic office space with a comercial printer. (For a while there was a thing that would happen with the network printer where it would suddenly begin to print gibberish, usually only one or two lines per page, uncontrollably for reams and reams of paper. This was the source of my first roll your own notebook pages.)

At some point I heard about the Midori system and then realized that if you had a reusable Traveler's notebook you could print the style of paper that you wanted to use, fold it, and have an A5 sized folio (?) insert that you could staple with a specialized stapler to make the paper inserts.

This is what i have been doing for ~3 years now.

https://papersizes.io/

A5 Travelers Notebook: https://a.co/d/iy32n37

https://print-graph-paper.com

Swing-Arm Swivel Stapler: https://a.co/d/0afXOaW
I see many comments here every day that would get anyone instantly banned from most of the biggest subreddits. However, I think that most people would agree that this place is a lot less toxic than reddit. Smaller subreddits are somewhat better, but at this point this behavior has become pervasive in site, and users are expected to respond aggressively to any disagreement. As a result, any discussion becomes impossible and most comment sections are filled with users mindlessly agreeing with each other. Moderation is important but the way it is implemented in reddit has only managed to turn the site into an extremely toxic echochamber.
So far the really interesting stuff seems to be missing, and isn't really in sight either. I would go with low code tools (JHispter, Bootify.io) and continue from there, for now.
12-hour shifts

and also

nightshifts for women
This has nothing to do with Reagan. Bezmenov defected to Canada.

His role in the KGB was so inconsequential that he saw the files of journalists who were slated for executed come revolution. Got it. I'm sure everyone could freely access those.
Thanks very much for posting this article. I found it very intriguing. I read it carefully but I didn’t visit all the links or watch all of the in-line videos.

I would say that for the most part I am a printf-style debugger. I remember reading some years ago (on HN, I believe) about time travel debugging in - I believe - C# and I was really impressed but I don’t code in C# so it soon left my mind.

I have a deep appreciation for mastering one’s toolset. I can’t think of the number of times that I learned something new about a tool (language, editor, shell, browser, whatever) that I use daily that changes my workflow - it has happened so many times. And as with all things code, sometimes new features are added.

I am going to try to make a point to re-read this article later and to visit each link and glean what I can.

I mostly code in Go. I wonder, does anybody know how much of this stuff might be supported there?
That sounds terrible and I feel bad for them.
Fair point. 99% of the pain of C and Java comes from their clunky build system.
If you buy bonds you can lose money. To say they're risk free is wrong. Treasuries carry no credit risk, but they do carry duration risk. If you buy treasury bonds above par, you can also lose money even if you hold to maturity (though it would be illogical to buy them with negative yield. However we have seen this being done in Europe anyway)

Duration risk is risk. Taking on 10-30y maturity is not "risk free"

Many of these banks are holding Munis and other non-treasury bonds, which are not free of credit risk and can be worth 0 in some circumstances. I don't know about SVB's balance sheet, just speaking generally
The parent didn't say everyone would get their money back. It said the friend who took a seed-stage investment will likely get most of their money back. I don't know the odds of that (most uncertain about the amount of money involved) but it's definitely much higher than "everyone gets all of their money back".
And are you going to address who they do share employees with? It's a party that's not left-wing.

That's factual. The rest "not a great article", "North London left wing orthodoxy", and "BBC is insufficiently pro-Brexit" is vague, feelings-based not fact-based.
FWIW we got my 8 year old a smart watch, and it's been great. We can text her and she can text us (and her older cousin) and we can call her and track her. She can't use social media or anything else, and I put one game on there for her (pong).

Both she and her brother have access to our old phones and tablets with a curated list of games that at least vaguely teach you something. They get limited time on the devices.

Rule number one is no screens when the sun is up, except on weekends.

Also sometimes I let them play my S/NES emulators, which obviously have no internet access.

I suspect she'll ask for a phone when she gets to middle school. We'll cross that bridge when we get to it.
Not if you make inducing bank runs by means of marketing legal.
You dodged a bullet. Definitely find out what assumptions you made that were wrong, that could be a very costly mistake in the future. Betting against market headwinds that are blowing strong is always very risky, even when you are correct since sheer momentum can kill an investment.
Weren't the rates on government bonds negative if you were a large investor like a bank?
This is reminiscent of the zettelkasten system with the links between notes and topics, though ZK takes it a bit further and does away with the chronological sorting files by topic. Indexes have links to individual topics and topics can link among themselves. It tickles that part of my brain that is unsatisfied with top-down/chronological notebooks and the like and replaces it with www-like hyperlinks.
The bank can happily choose to invest *its* money, it shouldn't be investing *my* money.
Speaking of Mercury, they recently announced increasing customers FDIC insurance maximum to $1M for customer accepting to enroll in their sweep program. Not sure SVB offers this but I hope they do.
Because i guess you've never been worked in a company with VC backing ;)
Why even chase 1.5%.
I don't believe that "most modern countries" don't make exceptions for work that requires it or critical fields. In fact, those of us who've worked non-traditional shifts usually get some perk out of it. When I worked 12 hour shifts I'd work 3-5 days in a row, then get the same amount of days off. To this day 5 days on 5 days off is the best schedule I've ever had. I also had a friend working in mines up north in Canada. He'd work on-shift for weeks at a time and then get 3 weeks off with a flight paid anywhere he wants in the world. Is Canada not a modern country?
And yet he is wrong!

They were stuck with assets earning <2% for 10+ years, meanwhile depositors were demanding higher returns (else they would put their money in other banks, in 6m tbills, 10yr treasuries, etc.. all of which paid a lot more).

And thus, "it's not a solvency issue as long as depositors are stupid and don't realize they can get more $$$ from other banks" ends up being quite misleading
FSB shills are out in full force on HN on this one trying to discredit him with exceptional pilpul and deflection.

I grew up in the Eastern Bloc and find his stories plausible. Everything Bezmenov said is true. Watch the entire interview.
Thank you. This is the type of info I was expecting in TFA.
Possibly, but I do not believe that it only impact children. Is there a benefit aspect of smoking ads targeted at adults?
All men are mortal.
My cat is mortal.
Therefore my cat is a man.

Not all mortgage backed securities are subprime CDO squareds.
IIUC: they could definitely cover their normal day-to-day. The thing that broke down is they had to announce true things that made investors conclude that their money wouldn't grow as fast as investors expected, and investors (understandably / justifiably) wanted to pull it out to somewhere it would grow faster.

(The investors don't actually know the money won't grow as fast... the Fed could decide to drop interest rates tomorrow, or something else could intervene making it sensible to drop interest rates. But "not growing as fast" was the very likely scenario).

Once everyone decided to pull, they were tanked because no bank keeps 100% liquidity.
True. It looks like they mostly just made poor decisions in their most recent allocations. Unfortunate.

Mostly, though, all this talk about them like they're a neobank is because everyone appears to think they are one.
> Debate.

About things we don’t even know exist, or what they are if they do exist? There’s better ways to spend a Friday.
I wonder if there's a way to model this as a simple Lottery trade off. Imagine a lot of game that has 100 times better odds of winning a Powerball sized multi-million jackpot, but every hundredth winner of this jackpot, (distributed randomly with a probability of 1/100) is arrested and publicly fed to lions. Would ticket sales increase or decrease versus the current scenario?
What I mean is, when dealing with an irrational or antirational person, who is behaving this way because other kinds of action are impossible, we should ask what constrains them. If they are not actually in control of their circumstances, then we can't really pooh-pooh their irrationality because they are not free to choose.

We like to assume that we are all masters of our own circumstances and can deal with any obstacle or misfortune by adjusting ourselves to match it, but this presumes a degree of autonomy that does not always exist in fact.
Ultimately, the capability is beyond the reach of the workers you are talking about. The NYT article produced zero evidence, scant details (including laughable ones like a "Polish yacht".) It was truly a pathetic attempt at diversion-- I would have expected something better, like they did with Iraq, but the truth is they don't care enough to bother because liberals do their work for them. And as the critique published above points out, the authors have previously engaged in wholesale fraud for the security state, writing articles about the fake "Russian bounties" in Afghanistan, etc.
Aren't fully FDIC insured, yes?
Does that means panics are necessary at every other bank, seeing as how their liquidity is similar (or worse)?
Why do you think they're separable? Personality informs decisions and care.

You're not a machine in need of a mechanic. You're a person, and people respond better when they're involved in shared decision-making regarding their healthcare.

Besides, "aptitude" is necessary but not sufficient for a surgeon. For a particularly creepy example of abuse, see https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7424662/

Further reading: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7424662/
Noob Questions: How do banks typically diversify their investments so that this kind of thing does not happen? Also don't they have to have some kind of liquidity cushion? Can't they just cover their short term costs by borrowing(I thought there is an overnight facility for lending between banks to borrow at low rates)
My take is that playing minecraft or such is fine. Instagram is not. Playing with blocks in real life is probably better (but I appreciate you can't build moats in real life so easily).
> These programs have been hailed as the first glimmers on the horizon of artificial general intelligence [...] that day may come, but its dawn is not yet breaking, contrary to what can be read in hyperbolic headlines and reckoned by injudicious investments.

The article is not claiming a lack of usefulness, but the fact that this is not a human-like intelligence as it's been claimed "in hyperbolic headlines"
> Oxy heavily relies on open-source dependencies, with hyper and tokio being the backbone of the framework

It seems almost every single production async framework uses tokio instead of async-std. Has tokio won? Is there a reason in 2023 not to use tokio as the async base?
Trudeau senior gave some citizens the bird from his train window way back so it should be ok for others to return the salute.
I genuinely appreciate your engagement but this exact thing is what I was trying to avoid as a time suck.

This type of literature has been a hobby of mine for years and recently I've noticed that I've given myself some expertise.

Hopefully I'll be motivated to write a more complete volume in the future. It takes many pages to build proper context here.

Thanks. I've read your reply but I'm trying to be judicious with my time these days.
They're very safe assets, they just have a long duration which makes them really risky if you could need them to cover deposits.

To make things more straightforward, let's just compress it to a 1-year time frame vs a 30-day bond. So a $100 MBS at 1.5% would pay you $101.50 if you held it for 1 year. If you have $100 in deposits and a $100 MBS bond, you're "solvent". But what happens if after 30 days, your depositor asks for his $100 back? You either need to sell your MBS or find other money to pay them.

If you try to sell the MBS to pay that $100 deposit liability and interest rates are about the same as they were when you bought it, you'd likely get around $100 and things are okay. If however, rates have spiked since then (like they have here), investors can either buy your bond that pays 1.5% or they can buy a new issuance 1-year bond paying 4% or 5%, or perhaps a 30-day bond paying 1.5%. So you need to give them a discount in order to sell your bond -- in this case it might be upwards of 30% or 40%.

So if you sell your MBS, you'll only get $60 or $70 for it -- leaving you a huge shortfall that you need to makeup from your other reserves. If you could convince your depositor to leave his money in the bank until that bond matures, you'd be completely fine -- but the timing mismatch and interest rate spike just kills the bank.
Yeah, "should", when every app developer decides that they should use Win32 API.
Either you're mistaken or that's the quickest ninja-edit I've ever seen.

Sequoia's has a diagonal line through it. Defer's does not.
"97% of these MBS were 10+ year duration, with a weighted average yield of 1.56%."

I'd like to learn more about the dramatic drop in MBS - elsewhere, downthread, it is asserted that they have dropped 30-50% ?

I understand the inverse relationship between bond price and yield ...

... but I am surprised that an asset yielding ~1.5% drops 30% in value when treasuries of similar duration rise to 3-4%.

Are there other factors at play with MBS in early 2023 - such as increased delinquencies - that are putting downward pressure on their price ?
1% is a wildly different number from the 20-30% I've seen mentioned here. What makes you say they're only 2B short?
Do you think it's strange people are excited for the economy to fail?
If that’s your theory then buy some puts because anyone that did this will absolutely get ripped a new one
Absolutely, mechanically the inside is great. Electric errors and problems, might be the challenge.
Stripe doesn't have the assets to acquire SVB. As it is they're looking for funding to pay employees' stock tax bills.
Nope! I got a 2.0% mortgage in 2021 (no points or anything) and the bank then turned around and sold it to Freddie who paid them 1.7% (so the bank made a nice 0.3% just for originating the loan).

Then Freddie packed my loan and sold it to others for something likely to be below 1.7%...
As a programmer, I get paid huge amounts of money to automate tasks that others or myself would normally do.
Tide is a natural occurring phenomenon.

There is nothing natural about the interest rates policies and stimulus packages from the governments last couple of decades.
This is precisely why we have the FDIC -- if deposits are federally insured, there is much smaller incentive for depositors to withdraw their money out of fear of a bank run.
i've tried a bunch of notebooks and they still don't take ink well -- which ones do you use?
We primarily focus on helping Node.js developers to build products without investing time in infrastructure while keeping it configurable.

As @thdxr mentioned, our goal is also to provide top-notch queueing/scheduling features that are complicated to achieve with Lambda/SQS/Cloud Functions, such as dead letter queue support, throttling, or a product-oriented dashboard.
In the same idea, we plan to provide better integration, for example, as you mentioned on secrets management by integrating with Doppler, AWS Secrets Manager, and more - the same goes with linked deployment pipelines.
Not sure, but I assume 40 hours total. It looks like India has a nationwide maximum of 48 hours before overtime. So they have a whole extra day's work than we do in the US.

That is now for both men and women.
Just ideally the dev experience should be `result = await somethingThatMayHaveBeenCalledBefore(id=txnref, params)`

You shouldn't need to first do a check to see if the task already exists using a different api, and then choose whether or not to run a new task.

At least this is my preference.. a-la Durable Objects.

If you don't specify a custom unique id when calling the task it would then be treated as a task that can (and would make sense to be) run multiple times (i.e. not idempotent).
The people affected by the drug trade are not affected by the act of selling drugs but by secondary crimes (which arise because selling drugs is illegal and vendors cannot take advantage of the legal framework).

Also the people affected by this incident alone number in the millions.