skysight-inc/HackerNews huggingface dataset:
I'm not hopeful that "seeing the map" (multimodal training) will make the difference everyone is hoping for. The transit map is going to be the exact same information as the lists, but coded in the learned design language of colored lines and dots. The words-only version should work just as well or better because it shortcuts the implicit OCR problem of trying to make it learn off the map. Indeed transit maps other than NY are often abstracted and have nothing to do with the underlying geography. So abstract representations (such as lists of words) should be fit for purpose.

Here's another one that fails spectacularly. The digits 0-9 drawn as an ASCII 7 segment display. It gets it mostly correct, but it throws in a few erroneous non-numbers and repeated/disordered/forgotten numbers. Asking it for ASCII drawings of simple objects can really go off the rails quickly.

The fault mode is very consistent. When a prompt forces it to be specific and accurate on an unambiguous topic for 10 or more line items, it will virtually always hallucinate at least one or two. Especially if the topic is too simple to hide behind a complex answer. Even if its learned not to hallucinate 90% of the time, and even if that's good enough to pass at first glance, within a list of 10 things it only has a 35% chance of not hallucinating any of them.

For what its worth, it did very well on law questions. Try as I might, it refused to accept that there's a legal category known as "praiseworthy homicide". Though, I suspect this has less to do with the underlying model and more to do with openAI paying special attention to profitable classes of queries.

I'm sorry to say, I think the problem maybe more intrinsic to the current approach to AI. Frankly, LLM works unreasonably beyond my expectations, but its making up for a lack of a real first principles theory of cognition with absurd amounts of parameters and training.
>how deregulation and defunding government programs often backfires on the people calling for it

You make this sound like the avg citizen called for this, because this is who gets screwed in these situations. The heads of banks and the banking industry called for it, and not one of them will even notice the blip in their lives.
I found my favorite combination of notebook and pen. I really like the paper of the Clairfontaine A5 notebooks. They are cheap and available everywhere here. They paper feel very smooth, not grainy but still give a good friction when writing. Speaking of friction, I love the erasable Frixion pens from pilot. I hardly ever use the eraser but I love the feeling of writing with it. The 'clicker' variant of the pen fits nicely in the spine of the notebook.

I had one huge downside with this pen though, the ink disappears with heat. When I accidentally but my treasured dream journal on a hot radiator I lost over a year of dreams.

Also I always loved writing on the right page (I am right handed) but dreaded having to write on the back of the page on the left, no idea how to hold my hand to make the spine not be in the way. Recently I just flip the notebook upside down so the page is always on the right.
Today in terrible puns.
I'm kind of perplexed by this.

It's very clearly infrastructure. Putting "zero infrastructure" in the title and using the same API as Lambda invoke etc. doesn't make it true.

I also get double the risk of downtime, security as it's a third party running on top of AWS vs. just running on AWS.

The API looks nice - but no mention of typescript at all in this post or the website, so presumably type-safety isn't the thing.
If you have a large sum of money that you don’t expect to need them soon, do you put the in the bank or do you invest them?

Probably invest then. Why would the bank put its money in the bank if you are not?
Is it not possible to meet short term expenses with a short term loan which is discharged over a few days by selling liquid assets? Maybe banks just don't want to let you do that.
Yes so the key distinction is this bank had a bank-run against it that forced their hand. Fair to say any number of banks would fail if they faced a bank-run in current environment (depending on proportion of long dated bonds they hold)?
Great demo! The article also has a link to it.
> There is no retirement “fund” in the way that word implies

well, France really has 2 systems (to simplify, it's really more like 42+), the "public" one (i.e. civil servants) and the "private" one (i.e. anyone employed by an employer other than the state).

The "public" retirement is based on the assumption that the state guarantees its liability for future pensions but doesn't actually put it on the books (if it did real debt would be another 2,000 billions euros), while the "private" retirement does have a "fund" (really several of them, one per sector of the economy) but it's revolving money put in by the current workforce but paying immediately current pensioners. This second system can in theory have excess money (but every time it does, a law is passed to extract some more money out of it to the benefit of the first!).

Part of the issue in France is the existence of these 2 systems and the very fact that the state allows itself to do its accounting differently (in a way that unlawful for anybody else). If at least the state played by the same rules... (of course then it would have to recognize this extra debt of 2,000 billions euros, and that would disqualify the country from the eurozone!).

But in short, yes it is very much the government's problem. They (since 1945) have "organized" pensions in a way that makes them a time bomb both in its accounting, and in its unjust rules (rules vary a lot per sector of the economy).
How does putting your ID on a chain or even having an identity provider vouch for it change anything? By your logic being a human is meaningless because anybody can do it.

Self-signed identity means you own a private key. Being a human means you own a body. You can call yourself whatever you want in meatspace. People deal with it. You can sign whatever statements you want in cyberspace. If you need to verify that someone has passed a driving test, then yes you need an authority to issue a certificate (or whatever better tech you choose) saying this private key met these requirements.

There's no inherent problem with the identity being self-signed if you just need a user-id.
It can, and when rates are low, many do. But interest rates are rising, so borrowing is getting expensive.
They did intervene with Bear. The JPM acquisition came with all sorts of backstops and guarantees from the Fed. Lehman was the one where they didn't intervene, which is why there was no acquisition.
It would be trivial for governments to create email addresses for their citizens, and it would be a good idea for general digital enfranchisement.

The problem is that there needs to be laws preventing private companies from requiring this identity, otherwise it would devolve into yet another unique identifier for the surveillance industry to abuse. And in the US context, we don't even have basic privacy laws. So until the abuse of basic identifiers like social security and driver's license numbers gets reigned in, having the government create digital structure just feeds into the surveillance industry.
Its worth pointing out that bonds are just debt instruments and that their recoverable value responds to changes in the economic environment in pretty much the same way as direct loans with similar term would.
Well, the article starts assuming empathy on the side of the orca without any evidence. Then as the story progresses:

> In 2022, researchers saw something else they had not observed before: pilot whales coming back after being chased away. They did this three times. The researchers wrote in the paper: “It is possible that the movements of the killer whale group as a whole could have been influenced by an active effort of SN0540 [Sædís] to obtain another pilot whale calf.”

> “If it was an abduction or kidnap, this may go some way in explaining why long-finned pilot whales are often seen chasing pods of orcas away.”

At this point I remembered seeing a video years ago of some African feline predator (don’t remember the species) that seemed to be caring for an antelope calf but later ate it.
I thought that the orca might have been just keeping the meat fresh.

> Sædís was again spotted interacting with long-finned pilot whales in 2022, but the calf was no longer with her, and it is presumed to have died.

I would be surprised otherwise.
> likely what put them in the hole

No. It sounds like they bought a bunch of safe, long-term load-backed assets. When interest rates went up, the value of the assets went down. This isn't a problem if no one withdraws before the loans are due, but if they do, they have to sell the assets that declined in value.
ChatGPT is happy to oblige:

Silicon Valley Bank, founded in 1983, has had a long and incredible journey leading up to its acquisition by the FDIC in 2023. As a bank that specializes in working with the technology and innovation industries, it has been at the forefront of many of the industry's most significant developments.

The bank started its journey as a small community bank in Santa Clara, California. At that time, it was known as the Santa Clara Valley Bank. The founders, Bill Biggerstaff, Ken Wilcox, and Bob Medearis, saw an opportunity to create a financial institution that focused on serving the unique needs of the technology and innovation industries.

In the early years, the bank faced many challenges as it worked to establish itself as a leader in the industry. One of the biggest obstacles was convincing investors and regulators that the bank's specialized approach to banking was viable. The founders knew that they needed to build a strong foundation and establish a reputation for being a reliable and trustworthy financial institution.

Over the years, the bank grew and expanded its reach, opening offices across the United States and in key global markets. It also broadened its focus beyond just technology and innovation to include life sciences, healthcare, energy, and more. This diversification helped to insulate the bank from the ups and downs of any one industry and made it more resilient in the face of economic uncertainty.

Throughout its journey, Silicon Valley Bank has remained committed to its core values of innovation, excellence, and customer focus. It has always been willing to take calculated risks and to push the boundaries of what is possible. This approach has paid off in many ways, as the bank has been recognized as one of the most innovative and respected financial institutions in the world.

In 2023, Silicon Valley Bank achieved a major milestone when it was acquired by the FDIC. This acquisition was a testament to the bank's success and the strength of its business model. It also signaled a new era of growth and opportunity for the bank, as it now has the backing of one of the most respected regulatory bodies in the world.

Looking ahead, Silicon Valley Bank is poised to continue its incredible journey and to make an even greater impact on the world. As the technology and innovation industries continue to evolve and grow, the bank is well-positioned to help fuel that growth and to support the entrepreneurs and visionaries who are driving it forward. With its deep expertise, strong relationships, and unwavering commitment to excellence, Silicon Valley Bank is poised to remain a leader in the financial services industry for many years to come.
"This is not a liquidity issue as long as SVB maintains their deposits, since these securities will pay out more than they cost eventually."

But that's exactly the problem. With higher interest rates, those deposits will be looking for a higher deposit rate. With their assets tied up in low-paying long-term bonds, SVB will not be able to pay that higher rate.

It would only work out "eventually", if the depositors would accept a below-market rate until the bonds matured.

EDIT: This is indeed a solvency issue, not a liquidity issue, as also pointed out below.
This will be a day long remembered in the tech world. The next few weeks will be will be the bad kind of interesting. I hope they have enough assets to cover everyone.
'Bracket creep' almost never works in your favor and that is by design. The government knows perfectly well how to peg things to inflation.
There are banks that do offer the 1:1 ratio you want; they charge you a quite hefty fee to do this.

But from time immemorial banks work by taking money from you (short term) and selling it to someone else (long term). Originally the banks were "protected" by being able to claw back the long term at anytime; but that caused even worse problems.

FDIC provides a way for "common people" to be protected from this; the other option would involve something like the USPS offering cash-only banking for people.
On- and off-shore wind plus storage is going to be a lot cheaper than nuclear, as well this massive transmission line. Hell, at £150/MWh, I bet that solar+storage is cheaper in the dreary parts of the UK.

Maybe Rolls Royce will figure out cheap SMR nuclear, but that won't deploy until late 2030s, I would guess, if it does work.

We are fortunate to have good carbon free alternatives to nuclear, after decades of hard work by renewable technologists. It's real tech.
The VC fund only has a tiny fraction of their fund as cash because most of it is loaned to to their portfolio companies, which have it in cash at the bank their VC partners told them to (because you can't pay payroll with Tbills), which, to a large degree (judging from the comments on the thread from last night) was SVB. It's going to be brutal for every company who didn't get their funds out before this morning's announcement, not to mention the possible contagion risks.
Are there any other banks that might be affected by interest-rate risk?
Same boat, following!
Shorter term bonds typically yield significantly less. Except the past year or so we’ve had “yield inversion” where the shorter term bonds are actually paying out more than long term bonds. This is an indicator of incoming economic downturn as it indicates institutions need cash now and are willing to pay for it.
One should ask, though, what makes improvement impossible.
And how many banks are acquired after that happens because of how healthy their balance sheet used to look?
I think it will have success because it will be backed by Facebook money and Facebook technical expertise and global reliability. Feelings about Facebook's management and corporate ethos aside, it cannot be denied that they are very good at having a robust fast CDN.
If anyone keeping track, for me flexibility is the key.

Work for home when I need to be home or when I have work to do that needs me to be focused.

Go in office the less busy day to socialize.
Silicon Valley Bank seized by FDIC as depositors pull cash
Note: Sharing based on feedback from friends.

This is on a topic I'm passionate about and often speak about professionally. Writing has been quite a challenge, but I'm thrilled to have finally accomplished it! Would love to hear your thoughts and feedback on the content and writing style. Looking forward to learning and growing with you all!
I loved that show, such fun to watch! They definitely could make a lot with the crypto-nonsense indeed.
Ahh I wasn't aware of this - wow. Thanks for informing me. Can't imagine the stress some of these depositors must be under with that added personal liability on top.
Also, yubikey works as a PIV smartcard
Who do you think backs those Clearco loans?
Yes, thanks. So not so tiny.
A lot of people confuse Product Managers with Project Managers. In a typical tech company, the Product Managers are creative roles, come up with ideas, new features, and so on, and ProJect Managers help shepherd these features and projects through the software development process from planning through implementation, testing, and deployment. Totally different roles.
The "assets" are actually held-to-maturity securities (bonds) that are yielding less than the risk free rate. Who would want to buy a bond that yields 2% when you can buy treasures that yield 4%. So while they might have $210B in paper assets but there's no chance they will be unable to unload them without taking a loss, putting the bank upside down.
Is HN a social media as well? Fortunately I'm not on a smartphone /s
Tenured professorship
US$1.8B is 1% of SVB's deposits; a 1% haircut wouldn't be that bad

i suspect the real number will be closer to 40% than 1%
Nah, it'll go to a GoDaddy page: "buy this URL for $3.99/yr now!"
Other banks have diversity of depositors.

SVB didn't implode on their own, Thiel decided all the startups he backed should withdraw their deposits. Then other VCs followed the trend.

SVB was what, $2B short on their balance sheets, out of >$200B assets? VC initiated bank run is the only real issue here.

Waiting to see how this all benefits Thiel.
That's a good question. The key is where I wrote that it was a liquidity crisis.

An analogy: you (hypothetically) keep your money in some 6-month CDs, with about a month's worth of expenses in your savings account in case something unexpected comes up. Then you lose your job and by the end of the month you haven't found a new job. You could liquidate your CDs, but the early-liquidation penalty might mean you still won't have enough to pay your bills. If only you could wait for maturity.

So yes, at mark-to-market firesale prices that means SVB can't pay out in full today to every account holder and so FDIC has to step in. But FDIC (who has a very large balance sheet) also seizes those assets. They give the accounts to another bank. Then FDIC can unwind those seized assets in whatever timely fashion it wants.

There's a second factor: in a secular banking crisis they may pay out only the guarantee (currently $250K; for a while (during the GFC IIRC) it was temporarily $500K. But we are not in a secular banking crisis; not only has the Fed completely restructured bank reserve requirements in response to the GFC but SVB is a single, small bank, not even a regional one, with a run-of-the-mill crisis. This is the kind of failure that you put all the new hires on because they can learn without any up-to-the-minute crisis stress. This is what they learned during onboarding :-). In such a situation it's better to pay out move than the $250K, probably several million, to prevent any "contagion" (since SVB has "Silicon Valley" in its name).

I have no special knowledge of FDIC's internal thinking: they could make them whole now, or make up to $250K whole now and pay out some later, or yes, they could force a few people to take a haircut. Those (small number of) panicing VCs would be better off calling their senators than their portfolio companies.

PS: BTW hypothetical you has more options than those above: you could take out credit card debt, perhaps tap a HELOC you might already have in place, etc. SVB had similar options: they did have a $15B fire sale and got an investment from General Atlantic. It wasn't enough.
Nobody is forcing anybody to work 12 hours a day?
Everything you said is true, but the surrounding context is still incredibly important.

There is a reason ADHD is such an open target for this behavior. We have a very significant problem with adult ADHD diagnosis and treatment in our healthcare system. In the overwhelming majority of cases, it simply isn't being done.

In order for an adult with undiagnosed ADHD to receive treatment, they must navigate our healthcare system. That means finding insurance, finding providers, and setting appointments. Every one of those steps is hell for most people living with ADHD symptoms: they literally have an untreated disorder making those steps too difficult.

And even when they do manage all of these steps, there is a very serious lack of education in healthcare about adult ADHD. Many doctors have an outdated belief that ADHD is a child's disorder, and that patients will simply "grow out of it". Studies have shown very thoroughly that this is not the case.

And even when you do get a diagnosis, there is a serious hesitance to prescribe medication.

There are two familiar narratives about stimulant medication. Despite being at odds with each other, both narratives are true.

Stimulant medication is, in the overwhelming majority of cases, the single most effective part of treatment. Without stimulant medication, most ADHD patients are effectively stuck in therapy: they need to change their behavior to treat their symptoms, but it's their symptoms that are driving the behavior!

The other story: stimulant medication is addictive and dangerous. People see their lives fall apart in addiction. It's a very serious problem that demands our attention.

This is the story seen by law enforcement: particularly in the DEA. That is, after all, the set of circumstances they exist to respond to.

So what do we do about it? Ban the substances? That clearly doesn't work. And we shouldn't simply be trying to keep every person from using them: the positive effects are incredibly positive.

Another thing to be aware of: stimulant medication helps fight addiction, too. People with untreated ADHD are very likely to enter addiction, because they have a chronic deficit in stimulation. Giving those people stimulant medication resolves that deficit, and has been shown to very significantly reduce addiction, often even eliminating the addiction completely.

This situation with Cerebral certainly increased the negative consequences of stimulant medication. It also increased the positive consequences.

People who do not have ADHD, and should not be given stimulant medication were provided an easily abusable system to obtain that medication.

People who do have ADHD and benefit greatly from stimulant medication were provided an easily useable system to obtain that medication.

Please, for the love of all people, don't let us get so caught up in the negatives that we outlaw the positives!

We need to take a long and hard look at how our healthcare system is failing us. It's failing potential addicts by playing fast and lose, and it is failing those with untreated ADHD by giving them impossible hurdles.

Each failure demands the other as a solution. We need to break this cycle.
Recently I came across something that felt like a cryptopals challenge, my solution to the problem was fun to make and I'd like to see if someone can break it.

Whoever solves this challenge first I'll send 1000$ (U.S. citizens only).

Enjoy!
(Almost)Building Tacklr – AI consumer phishing protection tool
Substack disabled my account shortly after posting this for some reason. Here it is again on Hashnode instead.
I think the assertion that because you can't have total privacy, it's not worth having any privacy is fundamentally illogical.

There's nothing wrong with doing what you can to keep the bad actors away even if you can't keep them all away.
The most obvious problem is that you make workers compete against each other in a race to the bottom, with fewer and fewer protections, and employers select among the workers for those most willing to endure the most demanding hardship.
You know that I never said those things were OK. So maybe think for a moment before posting gut reactions.
Read the other threads. https://news.ycombinator.com/item?id=35088919

"SVB is our bank, I got in touch with a member of the senior team there and got the following message to share. (My own interpretation is I'm comfortable and I'm not planning to pursue it further at the moment)"
I use those yellow legal pads. The majority of what I write is just getting my thoughts in order- I don't revisit much of it.
What gets run on your infrastructure and what gets run locally?

This is imporant as I'm not sure I'd want to trust yet another service provider with my customers' data, especially one that is VC-backed and therefore inherently less trustworthy in the long-term than others.