skysight-inc/HackerNews huggingface dataset:
Yes.
"404, the story of a page not found" - https://www.ted.com/talks/renny_gleeson_404_the_story_of_a_p...
On the All-In podcasts, David Sacks discussed how he noticed something off with SVB that lead him to move his accounts. They all seemed to agree SVB did nothing illegal or wrong. It doesn't appear to be an Enron or Bernie Madoff situation.

https://www.youtube.com/watch?v=CEee7dAk25c
Is Siri better, or does it have you well trained? My smart home stuff works best for me because I know more of the exact labels. I was literally surprised the other day that my wife included an S and it still worked.
Saudi Aramco’ s $161B profit is largest recorded by an oil and gas firm
Good for you I guess but I sure as hell don't want no "corporate management" malware anywhere near my stuff let alone inside the chips where they can't be disabled. Please keep this crap fully isolated in your "corporate devices" so that we don't have to deal with it.
Personally I use "2-" and "3-".
The last ten years have been a wild, Bacchanalian orgy of loose money.

It is now time for Bilious[0] to appear.

[0] https://discworld.fandom.com/wiki/Bilious
> just don’t understand why folks on the internet are so passionate about the depositors being hit by this.

I think most of America can’t even imagine having over $250k in an account. So people with this much wealth asking for a bailout is literally rich people asking for coverage because they did something dumb (banked with a bad bank, didn’t account for risk, didn’t insure, didn’t manage funds).

It’s not hate so much as it’s apathy and surprise as the ask for money. It’s like those millionaires who wept because they lost money with Madoff and they wanted the payout for all their earnings they had “made” over the years.
https://www.bloomberg.com/news/articles/2023-03-09/founders-...

Advised his companies to withdraw on Thursday, bank shutdown on Friday
You seem to be interested in the Slow News Movement! I keep a list of online slow news magazines (including Quanta) here:

https://hung.su/slow-news-movement/

Some magazines that no one has mentioned:

https://worksinprogress.co/

https://pudding.cool/

https://knowablemagazine.org/
It's a claim about what would happen given more time. Imagine I owe you a million dollars in cash, and also own a house that is probably worth about $1.5M. Houses are not very liquid: each transaction takes a lot of slow evaluation, you need to find the right person, etc. Best case for turning it into cash at close to its value is about a month, often takes a few months. So if I suddenly needed to pay back my loan to you we could say I'm in a liquidity crisis: given time to liquidate I'm good for it (my net worth is positive) but I don't have the cash on hand now.

On the other hand, if the house is actually only worth $750k, then my issue is solvency. Even taking time to sell the house for as much as possible I won't have enough to pay everything I owe, and will need to go into bankruptcy. And we don't know for sure until I actually try hard to sell the house.

People running into issues of solvency often say that they are running into a liquidity issue, however, through some mix of wishful thinking, hoping for self-fulfilling prophecies, and lying.
If special considerations is given to any depositors. I think it is reasonable to clawback any money withdrawn outside what could be considered normal operations in past week or fortnight.
BECAUSE HE TOLD US TO TRUST HIM.

DA. MUST FOLLOW ORDERS.
It might be prudent to first test the efficacy of this technology within the confines of MSFT before implementing it in society at large. After all, cautious experimentation and refinement can lead to more successful and lasting outcomes in the long run.
The limit applies to all your accounts at the bank combined.

However you and your spouse each get $250K worth of insurance, so in this case it'll be $500K.
There are lots of small airports where there are Border Patrol staff but I don't think they are counting people in and out as part of any organised and uniform system?

Take, for example, recent industrial action where striking staff were replaced with armed forces. Apparently, the system ran incredibly smoothly but I don't doubt a lot of the everyday bureaucracy was overlooked at the same time.
Why would you automatically assume he is a liar?
If your amount is under 250K, its insured. If not, take 1/4 (or 1/8th) of funds and place in 4 or 8 week t-bills every week for 4 (or 8) weeks with automatic roll over. On Wed those rates were 4.80% and 4.88%.
For some people it will be a "quick online form." For others, they've gone from VISA free travel to potentially a trip/interview at the embassy. Just ask anyone with a similar name to a "bad person" what their experience has been like.
It looks like this may be a great place to use SQLite instead of Postgres because of the requirement to run this on a single server.
We just need tokenised tbills. We will be building a better financial system for sure.
At least according to this report, arriving by road or boat does not seem to be subject to this requirement, which seems odd. AFAIK, there is a lot of traffic in both those modes between Ireland and the UK, and on ferries from multiple ports on mainland Europe.
It's a tradition from hand-set paper print which is now largely obsolete.
I sold my time to a company owned by capitalists. The money I made was taxed by the government. The government then realized I needed some of that money back and they gave it to me in a stimulus check. I still work at a company owned by capitalists.

The above (true) story happened under a capitalist system, and has nothing at all to do with socialism.
If you can enjoy being fat, being alone, being lazy and oblivious you are set as well.
This will be solved by Foundry https://techcrunch.com/2023/02/21/openai-foundry-will-let-cu...
In other articles I've read where some of these VCs had "levers" into the bank where they could keep track of what their companies were doing. Not sure what exactly that means, or if it was legal, but it makes sense.
My first suggestion would be as T-Bills. I've asked a lot of questions on HN in the past few days about this, and I'm still not sure why it was not standard practice. Why people in position of authority trust bank deposits after 2008 I do not understand.
HOAs are local government, not market participants.
For fear of sounding like the “do people still watch TV. I haven’t watch TV in 10 years guy”, do people still write cover letters and do any companies actually read them?
Isn’t the entire point of having hundreds of banks the idea that competition will give customers choice, and that they can choose to bank with anyone based on their own risk tolerance?
> the market value of SVB's assets is likely lower than $175B at the moment

Deposits are less, too. We won’t have a good picture of their balance sheet until later.
Lame you’d make something that just looks like everything else. Don’t really see the point of making something so un-opinionated
Isn't that why 10 year bonds are much riskier?
no. the problem with long term AAA securities was only 100B of their 200B book. the dead loans to startups are a much bigger problem and why nobody would buy them.
Isn't it up to the depositor in a way? Normal people are 100% protected up to $250k, and then large investors can choose between boring, low interest, extremely safe banks vs high interest risky banks. Although as the analysis pointed out, the higher interest was nominal in this situation so it was a poor choice.
Book reviews are, by definition, opinion pieces. And I've written a bunch of them. They're assessments of the book, and thereby assessments of the content, theoretical orientation, and conclusion of the book, and thereby of the subject matter that the book covers.
Give me a break, no one is getting high interest returns from their cash savings account. A pittance is given to savers so banks cause my money for lending. Yet, when I want to borrow money from the bank on their credit card the interest rate is in the double digit percentages.
Yeah, most of this article is pretty unsubstantiated. Meta isn’t paying a 40% premium for open offices, almost every other tech company has a similar floor plan. And pre—Covid the offices were much more than 30% utilized, I’m guessing that figure comes from the percent of people actually at their desks at any given time.

Which ties into my last remark- even the largest building at Meta isn’t an 8 acre field of open offices. There are tons of conference rooms, cafes, 1-2 person rooms, open spaces and other rooms to break up the space and provide opportunities for collaboration. It’s not as nice as a private office but better then some other companies I’ve seen post-Covid, where they’ve minimized their footprint to the extent that you can’t find an open desk or conference room when another team is having an on-site.

I’m not sure whether this is an intentional misrepresentation of facts or just a complete lack of fact-checking but I was pretty disappointed in this article.
You don't really need precedent, it's just the logical thing to do to get your money out when collapse seems possible. The prisoner's dilemma isn't a dilemma because of 'precedent' or because of arguments, it's just a structural fact.
To me, an ad is someone trying to poison your brain trying to coerce you to act in someone elses best interest. So I will block ads no matter what.

At least that's the simplified version. To backpedal on that a little bit/add nuance, I reject any form of advertisement that had more than, say, 2 people involved in it. I don't care if someone tries to advertise their lemonade stand or their personal art project, but as soon as people in suits get involved, I want nothing to do with it.
We use Mercury, they're a frontend though. They're not a bank. Our checking/savings are with Choice Financial, and swept into at least four of these banks: https://co-mercury-prod.s3.amazonaws.com/legal/Choice+-+Depo...

We use their Treasury account type for most of our cash. It's split between Morgan Stanley and Vanguard funds.

Now, if Mercury fails it's going to be a pain in the ass to get at the money in these backer accounts. So we keep what we need for 2 months of operations with another bank. We were using SVB for this, now we have to find a new emergency backup bank.

Brex and Ramp are similar to Mercury.
All the model's weights are just a compressed representation of data it was trained on. Keep in mind it's open data, created by millions of people for free and placed either on Stackexchange or Reddit or Facebook or on Wikipedia. Thus, it is a nonsense to speak about any kind of copyright wrt neural networks.
Well I'm not getting paid the entire team was essentily furloughed (~25 ppl)

No idea what's going to happen with insurance since some people were expecting

I'm generally treating it as being laid off with no severance and looking elsewhere
Be careful with the distinction between synthetic materials and natural ones, they do not react to UV the same way.
Seems to me the insatiable desire here is that of the customer for free or nearly free stuff. What is a reasonable amount of money? You know that Amazon spent $465 Million dollars on just one season of Lord of the rings, right?
The chart titled “Impact of unrealized securities losses on capital ratios” really shows just how inadequate the tier 1 capital ratio is (what regulators use). Ignoring the impact of unrealized losses in assets marked as held to maturity is crazy. Seems like a regulator problem to me, no bank taking deposits should be able to make high duration and negatively convex (from high MBS holdings) without hedges.
I think the one thing you need to make the bathroom situation work is someone constantly cleaning them. Assuming you have a fair amount of residents should be possible. I think you also need to set things up in a way where someone can't just linger in the shower for an hour. I don't know it's hard and people suck. They'll shave in the shower and leave a nasty mess for others.
5% is still going to cause bank runs elsewhere. No one is going to stay at any bank where they might take a 5% hit.

Make the depositors whole and let things calm down. Then, at leisure, on a case by case basis, claw back a few percent to cover the moral hazard of people getting better loan terms or whatever.
I’m not blaming depositors. In fact, I think depositors have a right to panic withdraw. They’re making a decision to take business elsewhere, as they should.

That that can cause or accelerate collapse makes me question the entire bank model.

What other model leads to instant death, damage to their entire customer base, and collateral damage to the broader system, when a certain number of customers decide to go elsewhere?
As a system administrator, I work in many different environments
a safety deposit box is not safe by a long shot. if the bank burns down you're screwed. safety is the $250k FDIC limit, period
> We should have better regulation so this couldn’t have happened in the first place

We do. SVB lobbied successfully to exempt itself from the Fed’s stress tests and Basel III, both of which test assets for interest rate risk and would have caught this problem.
Lesion number one, don’t run accounting for crypto on a Google doc.
> Why does everybody want everything to be free? That's a more interesting question.

Huh? How is this an interesting question? I would love it if my food, housing, transportation were free… because then i have more money for non-free things. This is like 2 + 2 = 4 level of obvious.

If advertisers found a way to make food free, or cars free, or housing free, etc, then some sizeable portion of society would benefit from it in the short term while society as a whole gets shittier.

The problem is figuring out the actual cost of advertising to society, and finding a way to communicate that cost to the public in a way that isn’t really abstract and sleep inducing.
> the fact that it was basically impossible to actually create a vacuum through any technological means available

Do you have more sources on this? I would like to read up. As far as I'm concerned, vacuum is trivial to produce: by putting your palms together and then pulling them apart, by using blacksmith's bellows, and a lot of devices that used leather and/or bladders. I think the problem is in recognizing that you created vacuum, rather than creating it, so I would like to know if you have more insight into why you said that.
Regulators Face Urgent Task to Stem Spread from Silicon Valley Bank
Since so many people travel to foreign countries by air, these electronic travel authorization programs are about stopping people before they board a plane (or train, since the UK has the channel tunnel).

There was a brief golden age when you could show a passport from a western country at the border of many other countries and they would let you in. No planning ahead required. I think we will see reciprocal waivers return at some point, once countries realize their citizens are affected by these policies as well.
I hate the use of 'we', as it is being used in the title, the question and the answer.

Put simply, 'we' cannot know anything. Knowledge only exists in the mind of an individual. No one is able to say what another knows. And unfortunately, most people don't even know the difference between knowing and believing!

At best, use of the term 'we know' is a shortcut to saying 'some scientists claim that'.

I can only know that claim to be true once I have verified it for myself. Until that time it can only be a belief or hypothesis.
Yeah. Maybe this is beyond HN but I wanted to try VR porn back when VR headsets weren't a thing so I rented one. You literally pay like $5 for the booth and have free reign over renting a few DVDs from their 10k+ DVD collection, plus a vending machine than dispenses lube and sex toys, and unlimited videos in VR. The booth itself was totally sealed in and sound proof. The whole facility is open 24 hours. Having small cramped houses creates a need for this sort of business I guess!
> But kill a bunch of startups because of their choice of financial institution? I just don't get where that comes from.

Because you want to take my money, and your justification for wanting my money is simply “My company made a mistake.”
4000 weeks in a nutshell… just try to be in the moment enjoying what you are eating seeing hearing feeling, seeing yourself while doing mundane tasks, being present when with friends and family, active listening,… reads like platitudes sorry. But it works.
Depositors are consider investors in banks. 250K and below will be insured by Feds. Anything above will be considered like civil forfeiture that will be given to debts with higher seniority. Salary and bonuses of staff will take the highest seniority. Then secured loans. Depositors will likely get a portion of their remaining money just before shareholders. This is very well established principle. You can go checkout how much depositors in Lehman Brothers gotten their money back.
> kill a bunch of startups

I don't see this as a fair statement. There is a difference between killing a startup and letting it die.

Zero interest-rate policy allowed for the creation of investors and startups that never had to think about the realities of managing cash.

Using FDIC insurance to keep them afloat is acceptable. Anything beyond that is silly.
What a weird description of what is on video. Is this how you perceived what happened?

We truly perceive reality in very different ways.
> Extra money is precisely what Yellen is proposing.

Then you should be able to offer up a quote where she says that.

Hint: she never said that.
If you're looking for ways to measure creativity, ask it for recipes and then ask it to adapt them. It'll give you a recipe that uses strawberries and anchovies if you ask it. But like the words, it's remixing existing content and knowledge. Is that creative? I don't know. It's what a chef does, though.
This is already done in the visa process for countries such as China, and they do it the old fashioned way with paper and ink, then digitise it. This might also be how the UK end up doing it, if you don't have a smart phone with a fingerprint reader, or more likely because that will be harder to make work than they think..

Unlike China, it's possible to live in the UK without a smart phone (I do), last time I visited China it was basically impossible.
I have no finger prints, worn away, I am far from unique. So, technically, I don't imagine it being that easy?
Do you come across as not very respectable looking or sounding? Or do you come across as aggressive?

My experiences really don't match yours at all. From working as a tech a couple years back I know 1000% that every pharmacist I worked with made judgment calls on whether or not to help people out.

If you had a sketchy vibe, you weren't helped out. If you were a regular and amicable enough to be liked we'd figure out something we could do for you if it was legally possible. You can see how this falls apart when you're traveling or going to a non-usual pharmacy because of how subjective it all is.

(Ex: for Texas if it was actually illegal to say CII stock over the phone it wouldn't be "some pharmacies", it would be "all". I don't know of anyone that would fill a CII early, too much professional risk.
I've also only met a single pharmacist that would do 90 day CIIs despite that being legal if written exactly for that. Pharmacists are generally very risk adverse.)

My experiences as a patient don't match yours either, at worst I went to a clinic that had on-site drug tests very infrequently. Never had any issues with doctors or PAs telling them how I actually took the meds, but I also wasn't dumb in the way I went about telling them.

I also never ran through primary care physicians for any of this. The fact that you said 3/10 of them would terminate the relationship just makes me wonder how much personal experience you have with that exact situation. It just feels extremely sketchy.
> The gov - at taxpayer's expense - are ______ing* depositors with deposits over $250k.

The FDIC isn't funded by the government. FDIC runs and provides this insurance by premiums paid by banks.

No taxpayer money is going into SVB.

https://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corp...

> The FDIC is not supported by public funds; member banks' insurance dues are its primary source of funding.

> When dues and the proceeds of bank liquidations are insufficient, it can borrow from the federal government, or issue debt through the Federal Financing Bank on terms that the bank decides.

We are still currently at "using premiums" and moving into "liquidating bank assets".
Mercury insures up to $1m deposits by splitting your funds across multiple banks.

"Mercury checking and savings deposits are FDIC-insured up to $1M. As a broader effort, we are working on expanding all coverage up to $4M."

https://mercury.com/faq
I think the argument is that if I can start a bank and depend on the government to make my depositors whole in the event of a failure, then I can act/invest in a high risk manner to get more yield, while also paying me and my executive team millions in the process. If or when things hit the fan, my depositors are paid, I am paid, and the investors are the collateral.
This brings up an important point many folks may not realize: our immune system a robust multilayered, highly redundant response against any normal bacterium or virus. Thus, Any pathogen that currently still causes disease by definition has to code multiple specialized workarounds that hack these immune responses.

And importantly, pathogens that cause fatal diseases are typically not very old in evolutionary time scales, it’s generally considered to be a bad idea evolutionarily speaking to kill hosts you infect, and most of these pathogens are considered to be in the path towards evolving into more benign invaders of their hosts.
https://www.csoonline.com/article/3662772/cybercriminals-loo...

https://www.wired.com/story/intel-management-engine-vulnerab...

https://www.tomshardware.com/news/intel-me-security-vulnerab...

You were saying...?
If you get any kind of loan from SVB, you're required to keep your cash with SVB.

I think it was entirely reasonable for Series B and earlier startups to keep all their money in SVB. It was wrong, in hindsight, but reasonable. Bank failure is not the thing that's going to kill most startups. SVB just failed spectacularly, and it sure seems like it's not going to put anyone out of business.
What bank ever refused a Startup if what they are looking for is just banking? And what do startups want with a bank? Are they not capitalized by the VC's?
what you have to ask is how much of the "deposits" were loans from SVB? that is the real issue. SVB "loaning" money to startups on the premise that they would park it in SVB accounts. nobody knows how big that number is, but it is the real problem.
If that was the only point, why make you pay? Colombia's "Check-MIG" is similar but free.
It felt like there was a distinction between the community bank with a few billion under management and banks like SVB with hundreds of billions under management. SVB-sized banks felt “safe” post-2008, apparently they’re not.
“Freedom is not the ability to get what you want. It’s the ability to want what is good for you.”
When was the last time you even considered RAM use, when writing your own programs? Just copy that list and modify the copy; never worry about "is the original needed any longer?" And so on. Such economies suck time to find and implement and aren't useful until they're actually necessary, so nobody does them.

"nobody does that" times 20 years of RAM getting ever bigger, ever cheaper; and you get where we are today.

Once upon a time, emacs was considered a hog: "Eight Megabytes And Constantly Swapping". We had to invent whole new layers of indirection and waste to come up with the current VScode type efforts.

"the hunger of apps for RAM" will never be satisfied, just like there will never be no books for the printing presses to print: We'll find some use for keeping the machines thrashing no matter how silly.