skysight-inc/HackerNews huggingface dataset:
No, it's unusual. Usually the FDIC is ahead enough to do a planned takeover on a Friday with the aim of re-opening Monday morning. This might be the first honest to goodness bank run we've seen since the FDIC was created.
Any kind of bailout for this crash has a big optics problem, because the typically sympathetic depositors to a failed bank are in this case big risk taking startups.

Two wildly different groups are in trouble with any bank failure: First, the bank equity holders and senior management. Second, the depositors.

In general, I'm sure everyone believes that first group - the risk takers - should be wiped out. Moral hazard etc. etc. etc.

But that second group is usually really sympathetic! These are just bank deposits. You don't WANT people to have to scrutinize their bank's credit risk, that's why we have the FDIC!

But here the depositors are themselves massive risk takers - tech startups. And so politically, seeing the depositors get a handout is going to be a tough pill to swallow. Even though the risk that blew them up (bank credit) wasn't the risk typically associated with their business model.
So much shrimp. mouth waters

If it weren’t for the fact being sequestered into a limited space with that many random people would make me lose my mind I would consider it.
Not sure about the current situation, but a couple years ago could receive tons of updoots on Reddit for posting a video how you zoom eg from one side of the harbour to see something on the other side.
It's a luxury service. There is no optimal price outside of "high enough to prevent entities for whom money is an object from applying".
It’s time-expensive and not easily automated to write “rewrite” logic for sites. Think an order of magnitude more difficult than Reader Mode, because you need to incorporate the nav links and forms.
Sure, but that doesn't mean we shouldn't optimize the time zones so that the deviation is minimized.
Don't ask. Tell people about the value proposition in ten words or less at the top of each article. Make one of the words a link to a page with more information. On that page have a simple field to sign up for email updates.

What I want is something that prioritizes my needs, not those of the person creating the content.

A popup when I go to leave is not a fair exchange.

Because I didn't agree to it ahead of time.

And now you are just blocking me from what is important to me with a toll booth.

Good luck.
He’s correct. The $250k limit is stupid - Deposits at highly regulated banks should be insured in full. Shareholders should loose everything but not depositors. Bank executives should also be regulated like lawyers and accountants they should be fined heavily and never work in Finance again.

If SVB is not saved quickly the consequences are likely to be dire, there will a run on many more banks and many small companies will go bankrupt if they can’t make payroll.
It was a massive mistake not to bailout Lehman Brothers unfortunately Janet Yellon is so useless that I expect they’ll probably repeat it.
I recommend that you consider buying a lot of RAM, and using a RAM drive instead. It should be much faster than any SATA-based device (600MB/sec vs whatever your CPU to RAM bandwidth is).

Linux: https://man7.org/linux/man-pages/man5/tmpfs.5.html

Windows: https://sourceforge.net/projects/imdisk-toolkit/
You're objecting to things that no one in this thread has claimed. You're taking an argument you've had other places and continuing it here.

I watched the testimony, it was accurately characterized by the person you replied to, and it was a good argument for the defense to make.
Yeah, but perl 5 hasn’t broken compatibility (as far as I’ve noticed) since 2000 or so. Python breaks compatibility every week, in practice. Does LSB include some sort of magical frozen in time version of python 2 or something?
It's a little more complicated.

Nobody wants to socialize the loss for the bank's management or stockholders. They're gonna be wiped out regardless.

But we socialize losses for bank depositors all the time, it's a lot less objectionable generally. It's just harder to be sympathetic when the depositors are risky startups.
The writeup by the winner is a great read, highly recommended: https://www.cole-k.com/2023/02/21/tiny-games-hs/
Trickle up economics 101
that's a lot more than 288 characters
The FDIC doesn't go above the $250k in that case--the assets cover it. I don't think the FDIC has ever paid above and beyond the insured amount to make people whole

A lot of times their takeovers end up with people being made whole, but because they transfer the assets and deposits into another, healthy bank, and the FDIC makes up the losses in the assets, but those losses are going to be less than if they had just paid all depositors their $250k
Maybe in the medium run. In the long run, you just establish that it's okay to make higher risk bets than you can afford to recover from because the government is too skittish to let any domino fall. That's the road to increasingly wild volatility, not a reliable economy.
If you stopped DST, you'd surely have to also change things like school schedules as well to compensate for darker mornings?

Studies (in both the US and Europe) have shown that DST improves road safety for both cars and pedestrians at dawn/dusk times.
But it won’t end there.

Eventually people won’t care much for clarity and precision, that’s boring. The real problem is that everything that can be photographed will eventually have been photographed in all kinds of ways. What people really want is just pictures that look more awesome, in ways other people haven’t seen before.

So instead, raw photos will be little more than prompts that get fed to an AI that “reimagines” the image to be wildly different, using impossible or impractical perspectives, lighting, deleted crowds, anything you can imagine, even fantasy elements like massive planets in the sky or strange critters scurrying about.

And thus, cameras will be more like having your own personal painter in your pocket, painting impressions of places you visit, making them far more interesting than you remember and delighting your followers with unique content. Worlds of pure imagination.
Thanks, that's the explanation I was looking for.

> inversely correlated with interest rates, even if it would have earned less money when rates were low.

I'm not too savvy but isn't that what I-series bonds are for?
Deposits are liabilities to the bank's customers. The cash the bank has, regardless of how it got it, is an asset. The cash may result from a customer making a deposit, but its still just cash. Deposits and cash are separate items on the balance sheet. Here is an example from the Fed:

https://www.federalreserve.gov/releases/h8/current/

Note that cash is a single line item. The banks could get that from other sources, such as loan repayments.
How is this socialized costs when FDIC insurance premiums are paid by the banks?
I don't really understand why people pay a premium for literally the easiest way to make coffee. Pour overs are fast and easy to clean. French presses the only work is in cleaning the press.
Three things I can see:

1. way more deposits than they historically managed, with no-where good to put it.

2. failure to do what banks do, which is arbitrage their position, putting a huge amount into long-term low interest bonds

3. looking for loopholes in liquidity & stress tests, and reporting exemptions that might have raised earlier alarms

#3 is inexecusable but the other points are in the "bad at your job" category.
Yes, one of the core things that Starbucks (and McDonald's and so forth) sells is consistency. Their products may not be great, but you can go to one anywhere and know exactly what you're going to get.

Mom-and-pop places don't have that certainty. There are both great and terrible ones.

If you're in an unfamiliar place and just want a coffee, Starbucks can be just the ticket. It's not a gamble. And if you enjoy coffee and want something above "adequate", you'll also be keeping an eye out for promising mom-and-pop places to switch to.
It'd still be worse to me than a thread. I'd rather see specific reactions to pieces, rather than all replies & reactions being muddled together.
Elon is far-right. I meant what I said and I said what I meant. I'm very familiar with far-right ideology. No need to link to Wikipedia

>If we keep throwing that around when we mean right leaning or politically right views then anyone on the right is going to be "far-right

The GOP is a far-right political party. They are fundamentally anti-democracy.

>and we're never going to work together.

We aren't going to work together regardless because the far-right GOP doesn't want the same things as most Americans. They are a political minority that can wreak havoc on the country due to poorly thought electoral systems.

>I think that the other comments to you are to point out where Elon has fascist or Nazism beliefs.

There is more to the far-right than having Nazism beliefs. American far-right is Christian Fascist. Elon Musk is a fascist a la Henry Ford.
> If we need to shift school and work start times relative to the sun, we could you know, just do that...

Actually we can't, the coordination problem is so massive as to basically be impossible.

For various reasons, it's actually far, far, far easier to change clocks.

And to put your question back at you -- why should the sun be highest at noon? Because that's actually a very arbitrary thing (number 12 = highest) and it's not even perfectly true except for one special longitude in a time zone.

The purpose of time zones is really just so we can have a common vocabulary for when the daily rhythms of events happen. If anything, aligning 12:00 pm with lunchtime is probably the biggest cultural anchor. Not the sun.
Twitter finally has long posts, and they are 100% as incredibly awful & terrible as prophecy has foretold.
So this person has been able to replicate a process that he thinks Samsung must've used, and this is proof? What a load of rubbish this article is!

Not denying that Samsung or any other brand would fake things, but this is in no way any proof at all.
A coffee shop is absolutely possible as long as nobody is interfering in the wage agreed on between employer and employee. We’ve had coffee shops forever and they have done fine. It’s only the modern expectation that they should pay more that is threatening that model.
So instead of changing clocks 2x, every business and school have different schedules that change >2 times per year and you think that is the better option?
The way we made an external PCIe RAM disk based on the DDR memory (2021)
Execs at public companies always have to schedule their stock sales many months in advance. They cannot sell on a whim. The SEC is very strict about this and they do punish transgressions. Most execs sell stock on a regular monthly or quarterly schedule. Since execs are commonly paid primarily in stock, of course they will always be selling stock. It's just financially prudent to diversify your holdings no matter how much you believe in the company. As a result, you will almost always find, if you look, that execs in any public company have recently sold stock. It may even appear that they have sold a large percentage of their overall holdings, but this is often just because either they sell as they vest (again, generally considered wise financial practice) or because their stock is mostly in a different share class which needs to be converted before sale (and the "percentage" is actually a percent of their holding of the converted share class).

So I'd be extremely skeptical of any stories accusing executives of dumping stock, they are almost always benign.
Depositing anything over the $250k limit is a risk, but one that is standard operating procedure.

The reality is that every startup/VC was happy to absorb that risk for benefits previously described.

They, in fact, should have hedged their exposure at the very least.
It would depend on the controller. Most SATA SSDs are already saturating the max throughput of the interface (~600mb/s iirc), so you might want to look for a PCI-based option instead. Even still, I have a hard time imagining the performance squaring up against a proper NVMe drive.

I'm not trying to discourage you or anything, but I think paying $50 for an adapter to run 500gb of RAM slower than a $50 500gb NVMe drive is a bit of a goose chase. Good luck in your search regardless!
Bank accounts are very sticky and most people don't move them in search of better rates. In particular, people are not thinking of cash sitting in a checking account as anything other than short term cash they don't expect to earn a return on anyway, so you wouldn't change your entire commercial bank (that everyone else in your industry also uses and expects) just to chase some small returns.
Socializing losses is what enables high risk high reward businesses. Without it, the US wouldn't be half the innovative country it is now.
I worked in the restaurant and bar business for a long time as an employee. Not losing your shirt in a food business takes a LOT of experience. According to the National Restaurant Association, 60% of restaurants fail within the first year and 80% fail within five.

Most people realize they don't know enough to open a small lab or IT consulting firm, but drastically overestimate their knowledge of the food business. It makes sense-- these businesses must hide the mountains of back-breaking low-pay manual labor from customers lest they become uncomfortable and patronize somewhere that makes it all feel calm, relaxed and easy. And for all that, particularly successful restaurant owners get a margin of maybe 5% after a few years when you really nail down your expenses and processes, though the numbers for coffee shops are a bit different.

This successful restaurateur's businesses in Boston yield 2% (though she takes a paycheck not included in that 2%.)
https://www.eater.com/2020/3/9/21166993/how-much-to-run-a-re...

Particularly, white collar people who pride themselves on knowing about their local restaurant scenes are prone to this hubris. I bristle at their misguided confidence when discussing the business but will take the time to empathically but forcefully discourage any considering it professionally. A few years ago, an old friend contacted me in a panic because she'd invested her entire retirement in her brother's dream brew pub which was failing before it opened. I couldn't help them. Anybody with experience could immediately see how hare brained their ideas were, but they were just in too deep. Months later, they opened and quickly closed, and she'd lost everything. Tragic.
I fail to see why you think it would take more lines to do in Python.

And the problem with bash is similar to C: many people think they can write correct C code, but as it has been shown plenty of times, that doesn’t really work out in the end. Languages have different tradeoffs and bash really has no redeeming qualities, imo.
Because we're talking way above and beyond what FDIC insurance covers.
Having a hard time finding any numbers about it, but how many banks fail in the US compared to Europe? And once they fail, how long time does it take to give people the money they are guaranteed via the insurances?

Supposedly, many countries in Europe require banks to have at least 100% collateral of deposits, this should mean resolution in the case of failure be much easier + bank runs less likely to happen, as people can feel safer that their funds actually exists in the bank is liquidity. Unless the bank is operating fraudulently that is.
I tinkered with the idea to let a app use your personal gallery as training data and create a "barney camera"(himym) where 100% of photos of you and your friends would always be perfect, it would be impossible to capture a bad photo.. same here, its the moon just perfect .. who cares its not like it changes ..
I use Korn shell (ksh93) for quick scripts. Besides arrays and such (it's approximately a superset of bash, since bash copied some but not all of ksh), the killer feature is a declarative extended `getopts` that makes it trivial to provide even the quickest and dirtiest script with short/long option processing with full help, so that the purpose and usage of the script remain comprehensible five days or five years later.
https://gist.github.com/kpschoedel/91fdcfa934111f3846efb5034...
Wifi encourages people to sit in your limited number of chairs for hours a day, all for the same few pennies of profit as a customer who walks out immediately or drives away from your drive through immediately and leaves all the resources available for the next customer at the register. Even wifi users who are regular customers and great tippers make for terrible business, simply because of the resources they occupy.

If your customers use Windows, you can generally get a decent fraction of them to cycle out by just hiding the power outlets, but Mac battery lives tend to be long enough that that trick doesn't work with Apple using customers.
If you look closely at the "Clean Plate" demo right at the end, there is a shimmering where the character was removed. This isn't a criticism of the product, because I certainly can't do better myself - and they might be pushing the realms of what is possible right now... so kudos, it's amazing stuff. But it's not perfect, and perhaps it just has to be "good enough" for the target market (which based on previous comments is not big VFX houses with the resources to create their own internal tools).
The scarcity of affordable housing isn't from a lack of housing stock as much as it is from the ways that housing as an investment puts constant upward pressure on housing prices, and the ways that inequitable distributions of housing alienate people from the work of making home. We need people to feel invested in where they live, to take care of it, to care for it, but that kind of culture gets stifled by current housing ownership arrangements, where the incentive and opportunity to care for one's physical space gets sucked dry by the chain of landlords who could care less.
> Also, SVB depositors weren’t just random individuals, they are some of the wealthiest people and organizations in the country or even the world

Not anymore!
Yes, I think so (and many already have)
I fail to see the difference, note that the title mentions "depegs". If they buy 1 USDC at $0.9 with their reserves, they can remove the USDC, and keep $0.1 since they'll need $1 less reserve. How is this fundamentally different from a peg? This is exactly why nations with pegged currencies keep foreign cash reserves.
>Sadly that isn’t how we measure inequality

Who is "we"? The gini coeffient does measure income inequality similar to that. And yes, a feudal society would be more equal...

For example, a feudal society of, say, 50,000 peasant and a single lord, where each peasant makes 80 units of money, and the lord's tax cut is 10% (a common tax at the time, called a "tithe"), will have a gini coefficient of 0,09 (where 0 = full equality, and 1 = total inequality).
creator takes 1 USD, and gives back 1 USDC and vice versa

How do they make money then?
if as individuals we want to make this world a better place then we need to take responsibility for our lives and the influence we have that goes beyond earning a paycheck. if your moral attitude is so low that you don't care what your employer does, as long as it is legal, then you are not making a positive contribution to this world. i won't cancel you, but it's also unlikely that we would be friends.
Exactly! Also, don't forget detailed photos of your partner/kids, together with their workplace/school addresses.
I'm not sure why -- the one shipped with 9front is less than a thousand lines of C, and supports both DNS and HTTP challenges:

https://git.9front.org/plan9front/plan9front/HEAD/sys/src/cm...

http://man.9front.org/8/acmed

The ACME protocol isn't that complicated.
You (partly) joke but I do recall a recent shooting trial in which there was a lot of arguments about an "enhanced" or zoomed image and what was really in it.
this is the ultimate cause, but they also used loopholes to avoid reporting obligations other banks complete, and did not highlight the liquidity issues or stress-test that say... increased withdrawals might highlight. These aspects should be investigated deeper.
Thirty deaths from car crashes nationwide over ten years isn't a scale that warrants such things, IMO.

There are lots of things that serve no unique functional purpose that we still love and that still increase death rates (e.g. marathons, hamburgers, skiing).

Having risk doesn't mean that we automatically shouldn't do something.
Took me years after moving to the US to get used to the idea that 12-1 is lunch hour, rather than 1-2.
What? He is primarily asking for another private bank to acquire SVB not a bailout. Even if a bailout happens this may be smaller than the sum US spends randomly.

E.g., we sent ~$80 billion to Ukraine in a year. https://www.cfr.org/article/how-much-aid-has-us-sent-ukraine....

If you agree there is a good argument for sending money to Ukraine benefitting US then why not agree there is an argument protecting against bank runs and depositors? SVB's total deposits are in that range (ignoring other assets they have).
If they buy and sell at $1, how do they finance their operation?
Personally I think protecting bank depositors is a good idea. However: I would also note that many people (including Bill Ackman) have been screaming at the government & Fed to get inflation under control: specifically, they've blamed the government (and Fed) for their loose monetary and fiscal policy throughout the pandemic. And indeed the government tightened fiscal policy as they wanted, and the result was that SVB failed. Does Ackman now want the government/Fed to step in and pour its money in to shore up depositors? Won't that be more of the same inflationary policy that he's been railing against?
You assert that the act of individual act of lending creates the money - this is known as the credit creation theory of money; the GP asserts that the central bank creates the money and banks are just moving it around - this is known as the financial intermediation theory of money. That also happens to be the theory that underlies most banking regulation, like the various Basel Accords.

You can look at it either way; or indeed you can take a third view, the fractional reserve theory of money, which suggests that the banking system as a whole creates money in aggregate, but not individual banks.

All of these are theories with their adherents and none has yet been proven right or wrong. The only wrong position is a failure to acknowledge that discussion is still open on this point, or to believe that these are anything other than macroeconomic models.
The $250k limit is not stupid, it is deliberate. The point is to protect normal people and small companies. Not to provide federal coverage against irresponsible behavior for corporations and billionaires.
No, this collapse is pretty rare. Typically they seize the bank after it closes on a Friday, have a buyer lined up in a secret auction conducted before the seizure, and on Monday the bank re-opens as a branch of the acquiring bank. It usually happens this way because the FDIC and state regulators usually do see it coming from a mile away

Out of over 550 seizures since 2000, only 31 did not operate under this pattern

SVB was closed at noon in the middle of the day and there was no one to acquire the assets and deposits. This happened very quickly and obviously got out of control faster than anyone realized
Sure, if "minimise the deviation from the local solar maximum when the clock hands are vertical" is the best thing to optimise for.

In practise, whether the sun is 15 degrees to the left or right at exactly noon doesn't have much practical effect on people in the way that it getting dark before they even can see the sky in the evenings does.