skysight-inc/HackerNews huggingface dataset:
> Is that really a common approach in SV startup culture?

Yes, absolutely.

As a founder, especially at the start of your company, you're responsible for _everything_. You need to figure out how to do product roadmap planning, and sales, and marketing, and hiring, and HR, and run payroll, and work with investors, and manage an office... anything that can help shortcut a decision that isn't fundamental to the unique opportunity your business is going after is very welcome.

Where an established company might have a whole role (or even a whole team) who are responsible for selecting a bank account, you need to get one setup RIGHT NOW because you just landed your first investment check and you need somewhere to put it!

Have you seen the TV show Silicon Valley? There's a scene in the first series where they've just landed their first cheque, but they don't have a bank account yet so they have nowhere to pay it in!

This happened to us when we founded a YC company back in January 2011. We went to the Mountain View branch of Silicon Valley Bank because someone told us that they would know what to do with us. They sorted us out.

We did not pause for one second to check who their Chief Risk Officer was.
I was an L5, so significantly below $500k.
Yeah but you have to pay the premiums retroactively also.
If the peg is restored, why would a holder of sub-$1 USDC redeem instead of just selling to the market?
This is definitely not the tech industry
A ten year 1% bond is worth about 70 cents on the dollar. Ten years from now it will be worth 100 cents on the dollar, but you can buy or sell it at 70 cents on the dollar, so that's what it's worth.
4 year BSc + 1 year MSc. Experience matters much more than having a PhD. Lots of people without phds at the big ai research labs as engineers. I’d say it’s uncommon for engineers to have phds (although almost all have masters).
Silicon Valley Bank draws support from 100-plus venture capital, investing firms
What kind of question is this, there's not enough context to anyone but them to make this decisions, given all the context they have had one might be able to answer it..
Yeah, it was dumb. One company gave me an offer to lead engineering for their LLM team and another wouldn’t even interview me because I didn’t have any LLM experience.

Clearly one of them was wrong.
The venture capital and stock market are not capitalized with bank deposits, and that comprises the bulk of commercial startup capitalization and investment. What percentage of startup capitalization and investment comes from deposit-backed bank loans? I'd guess not much. None of the tech startups impacted by SVB's insolvency were capitalized by loans from checking deposits. Their deposit accounts were lent out to mostly non-business securities (mortgages and government bonds). Fractional reserve banking always will and always does result in bank runs.

The idea of separating deposit and investment banking goes back to the 1930s. It's known as "The Chicago Plan" (full reserve deposit banking). The IMF published a study that estimates no negative impact on economic growth.

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

https://www.imf.org/en/Publications/WP/Issues/2016/12/31/The...

https://qr.ae/pGQXNx
Interesting, the branch on Sand Hill Road was empty when I walked by on Friday. Plenty of tellers, but no customers.
1. It won't spin out of control.
2. Stock in SVB (market capitalization) is $6B. Deposits are almost $200B. Depositors who had put more than 250k did so willingly knowing the risks.
That's different. It's a feature where Apple deliberately keeps some components running after shutdown, in a very low-power way, and provides an option to turn that off. Those components (the Bluetooth chip, for example) are all strictly separated from each other by IOMMUs.

Intel Management Engine is very different. It's basically another CPU within your real CPU, running its own software with no visibility to the main OS, and it has (AFAIK) full access to other components. If it's compromised, or has a factory backdoor, you're 0wned.

The closest thing to Intel IME that the iPhone has, is the baseband, which can run its own code. But if I'm reading marcan correctly (https://news.ycombinator.com/item?id=30393283), modern iPhones/Android phones all use IOMMUs to isolate that (with the exception of a few so-called "free/libre" phones). The IOMMUs can be easily inspected from the OS to make sure they're correct, so it's just not a concern, unlike IME.
SVB Depositor List
It's the same license as RabbitMQ, which doesn't seem to be a problem for them.
>Did Circle and USDC trigger the sudden liquidity gap in SVP that triggered the fire sale of 21B at a loss?

It seems unlikely that would be the case, 5.4B would represent only 2.5% of their AUM at the time of failure. However the Fed did reduce the bank cash reserve requirement to 0% in March 2020, so it's technically in the realm of possibility... but having to sell off assets after a 2.5% drawdown is analogous to being 40x leveraged.

It would be unbelievably poor risk management if this were the case, and seems more likely a much larger event than a few crypto companies (which are small in the grand scheme of things) withdrawing deposits.
Except for things we decide to be important enough that we should create and apply models.

Now, the decisions that went into these models might have been rationalised after the fact. Or biased. But these handmade models can been reviewed by others, the logic and decisions that went into them can be challenged, and rules can be changed or added based on experience.

Not so much with LLMs.
Health insurance is really only insurance in name only. In between deductibles, and then copays, and then coinsurance, denials for all sorts of things, health insurance is really just amortized payments + cost negotiations.
The answer is PHP or Rails, just like its been the last 10+ years.

Anyone who suggests Go is severely out of touch. It's a great language sure but for a webapp MVP it'll just be a waste of time.
I would even doubt any flavor of JS or Python could match what PHP and Rails have done for rapid web development.

I'm not familiar with Laravel but that seems like the natural next thing if you want to use PHP
My point is that seeking to prevent abuse of amphetamines is a way to avoid creating addicts in the first place.
>They were taking the hit whether they held the bonds or sold them.

Incorrect. The opposite is true, in fact. Todays interest rate is irrelevant with regards to future cash flows for the bond.

Bonds are fixed income, your coupons are set and you get paid what you get paid. The coupons are fixed and when the bond matures, you are paid face value.

The only difference that is due to todays interest rates is that your low interest bonds have to fall in value to meet the market clearing interest rate if you are to sell them.
I'm not brave enough to try with my account, but I wonder what happens if you do that from the command line and then create a PR in someone else's repo.
Question for someone smarter than me: What would it take for existing RAM to get that much better?

I have a dim sense of the hardware industry, but I know that disk storage has gotten 10-100x cheaper, CPU/GPU power increases quite steadily, but RAM is still quite expensive.

Is it even possible for RAM to get much, much better than it is currently? Are there physical limitations, or is there just not the same amount of market interest in more RAM?
This isn't the answer to the question that was asked. Yes deposits up to $250K will be paid out using FDIC's normal insurance process (and will be available for all bank customers Monday morning). FDIC is also promising some portion of the remaining uninsured money sometime next week (the "advance dividend" they mention). The source of those funds is undetermined.
> We must make sure all deposits exceeding the FDIC $250k limit are honored

Why? Depositors know what the insurance limit is. One could choose to not leave more than 250K in a bank, and/or they could choose to find a way to hedge their risk.
I took issue with the example of aircraft airfoil design, probably too pedantically, due to the challenges technical individuals have had related to rationalizing the behavior, despite a mathematical explanation.

But I completely agree with your point that rationalization alone isn't sufficient. We struggle to describe the universe solely in words and rely on other tools to further describe phenomena.

How to provide AI models with these additional capacities isn't necessarily clear yet but there are some interesting ideas out there: https://writings.stephenwolfram.com/2023/01/wolframalpha-as-...
ability to spout pseudomeaning on command is probably a genuine skill in the bay area
The Financial Bubble Era Comes Full Circle (2022)
https://github.com/oobabooga/text-generation-webui/ has been running 4bit LLaMA on Radeon hardware with faster speeds and lower memory requirements than this LLaMA.cpp for the past week!
That isn't the case. To continue the concert analogy, the concert hall had more than enough doors to let everyone out if people left in their usual walking pace, but some doors were locked and the security was paying someone to unlock them. People took this as a sign that they should sprint to the gates.
>Ten years from now it will be worth 100 cents on the dollar

Yes… so if you hold it, that is exactly what it is worth. The issue is that they are forced to sell. We’re literally talking in circles.

If you are forced to sell on most assets, you are going to take a hit on your books, that doesn’t suddenly mean that the asset was valued incorrectly.
So not that it really matters, and not that you have to consume drugs you don't want to, but its legal in a huge chunk of the US now (assuming you're in the US since you took DARE). It's very likely that you're withing driving distance of a legal store - where you can just buy it like any other product. Even more likely that you'll vacation somewhere its legal otherwise.

Cannabis specifically is a very easy drug to try for two reasons- the dispensaries usually cater to first timers, and it's a pretty "low intensity" drug in normal doses. The dispensaries that sell it know that a huge chunk of the population isn't familiar, and its pretty standard to ask an employee "I've never tried this before, what do I do, what should I buy, and what should I know going into this" and they'll be super helpful and give you solid advice. It's their job, and they're prepared for it. If you asked someone at a liquor store how to prepare to drink for the first time they'd laugh or roll their eyes - and this is nothing like that.

Don't feel pressured to do drugs if you don't want, but don't feel scared. That goes for anyone on the internet reading this - don't feel scared, go into the store and try to learn if you're curious, but don't feel pressured to partake.
Ah, that's right, apologies, I should have double checked the title before replying.
None of that is the FDIC's job.
Nordic UFO Newsletter no. 1
hey mhalberstram, I am interested in knowing them too. My email is in my profile
I get the value of the major D1 college sports teams in the university experience, but honestly who gives a shit if Harvard is good at golf or not? I don't imagine anyone outside of people on the e.g. squash team are impacted by squash at Harvard. Same goes for non-elite (in the socioeconomic sense) sports like track and field.

I love sports and I think we need more opportunities for recreational play of sports after high school. But I just don't get the point of schools with middling varsity teams in unpopular sports continuing to pour resources into those teams.

I'd love to know if there are good reasons for it I'm missing though.
Corridor Crew covered that scene with the VFX Supervisor from Weta here: https://youtu.be/c4Gd0bR2kb4?t=383
How is your touchpad setup? Depending on its settings it could be getting confused when you palm brushes it during typing, it pauses keyboard entry while it waits for your to to see what you are doing with the cursor. Probably set with synclient but I have not used Manjaro since it was brand new so I don't know. Lockeddrag/timeout, palmdetect, singletaptimeout and probably a few other settings could cause this, simple test is just to disable the touchpad and see if it keeps happening. If you only notice it while typing this is a good bet.

Edit: No, singletaptimeout could not cause this, was not thinking straight.
You aren't too far off, going by the NPR article in another comment – https://news.ycombinator.com/item?id=35116265
There is a Stream Deck that is 8 buttons, an LCD touch strip, and 4 knobs for $200: https://amzn.com/dp/B0BJL8SJ59
Something else that I haven't seen anyone talking about (and may be a total non-issue) but are other banks exposed the same way that SVB was? I imagine a bunch of other banks must also be holding these low rate mortgages from a few years ago, could the same thing happen to them?
The complex problem of having great code turn compiled into shitty-ish code that some browsers support
I don’t see why an AI would be employed for loan approval. Loans are made on the basis of credit history, debt-to-income ratios, assets of the applicant and other similar information. Loan application approval programs already exist to evaluate the application based on those criteria. What does AI add to this process?
FTX wasn't just "terrible governance" it was a straight-up scam. They were illegally using customer deposits in their sister company's trading account. SVB on the other hand had full rights to those funds.
There are a few initial tips here in the LLaMAA FAQ: https://github.com/facebookresearch/llama/blob/main/FAQ.md#2...
I'm kinda curious what the FDIC will ask of Thiel. From what I understand, the message from him and his fund to their startups for Thursday was "you need to get your money out of SVB and it needs to happen TODAY" sounds "suspiciously specific"...
+1 re LTCM resolution, also great example.

I’d rather hope that in the unlikely event of there being no private market buyer(s) and a public solution becoming necessary, that lawmakers will at least force some wider ecosystem stakeholders to chip in.

The SVB CEO’s call of basically begging for people to support them the way they tried to support them for 40 years was very emotionally relatable. It’s one story if they’d gotten back with “Greg, we really spent day and night pouring over the balance sheet etc but couldn’t get there”, but as far as I recall TPG was the only publicly known group to even seriously look and consider.

It sometimes makes me think that if there’d ever be a war in my lifetime, the very last regiment I’d want to serve in would be the Bay Area one. Imagine being in a foxhole with Sacks crying for the government, Balaji just stringing random words together, and 80% of the rest just opportunistically and led by Thiel weaseling out through the back trench…
>Unregulated free markets create monopolies. Figma being sold to Adobe and scrapped is unregulated free-market. Figma staying unsold, forcing Adobe to compete, is regulated healthy market competition.

Do you believe that we are currently in a "unregulated free-market"?

What of the easy money policies and price fixing of interest rates? Does this not drive sky high stock valuations, tech hype cycles and acquisitions?

Look around the stock valuations in the tech sphere. Companies with no profits are hyped to the moon. Individual investors are speculating on cryptocurrencies with little to no underlying usage. AI virtual assistants are being hyped up as the next big thing. Serial employees are adding "ML researcher" to their resume as if they published research papers in the field.

How can you claim this is laissez-faire? Regulators have been shoveling easy credit into the economy. They still cannot raise rates anywhere near their stated inflation metrics... and people are already panicking, blaming them for not providing more free candy.
Yeah, this is more of a UI problem that could be solved with a little effort. I would be concerned about a device that replaced the hub itself rather than simply adding a function. The core issue is that a system can always notify the user of newly connected devices (Windows seems to about half the time). But a malicious MCU emulating a hub and compromising or stealing data at the USB protocol level could appear exactly as expected. It could key log, inject, etc., undetected because it doesn’t have to interact with kernel drivers as anything other than the expected hub.
It's insanely slow and probably wont be fast for anything for a long time.
If I may, this library runs LLaMA on CPU. There is no way to run it on the Neural Engine yet.

The optimization in this case only seems to refer to the 4bit model loading method (to be friendlier to the arm64 CPU)

GeoHot has tinygrad running LLaMA on Metal (but only the 7B model) that's the closest I've seen to taking advantage of apple silicon.

Neural Engine implementation would be awesome
Yeah I have settled on NextJS and Firebase as a nice place for rapid app development. I have based a free open source starter kit on this:
https://github.com/mcapodici/firestarter
I mean, Cameron seems to enjoy pushing video and CGI technology forward, and audiences seem to enjoy it, so… why not?

Sneer all you want, but it seems like something lots of people enjoy making and viewing.
Great Ideation, liked the messy POCs.
A blog post about playing with Boot/Root, the first Linux distribution, using images from this server: https://github.com/pavel-krivanek/articles/blob/master/BootR...
Yes, and considering removing the cookie popup will move metrics, is easily A/B testable, and improves the design it isn't hard to organize an internal effort to remove cookies that aren't actually essential so you can remove the popup.
Note that Apple M-chips don't have TrustZone or anything equivalent.
> So essentially it was all just panic

How? What was “all just a panic”? The bank run? Of course, that’s what a bank run is. People panicking to not be the last ones out the door.

Do not get this story twisted. SVB wildly mismanaged their risk, and went permabull in 2021/22. This lead to buying shit MBS’ and subsequently being forced to liquidate those securities to stop the bleeding.
Back then you could get 10mbps cable, which was about the same as RoadRunner and stuff here...

... now the transoceanic cable, on the other hand, that was... anemic, we'll say.
How Rho's Treasury Management Account Works
Eh, if “clients” and “management” were totally distinct, I’d agree. My understanding, and I’d welcome correction from those more knowledgeable, is that the SVB was hardly independent from the VC powerhouses.
Why self-host Ghost instead of paying for Ghost Pro? Nifty WordPress alternative
A good price/performance comparison of the official managed hosting offerings from Wordpress and Ghost. And why self-hosting matters in a lot of cases. The power of open-source software.
There are a significant amount of other banks that are in the same situation with respect to long term bonds that have lost a lot of their value due to rising rates.

The difference for many of them, compared to SVB, is that they have a much more diversified deposit base, so they don't have the same dynamic of the majority of their depositors all needing their money out due to VC funding drying up.

The fact that bonds lost value is really not an issue if they didn't need to liquidate them before maturity. After all, someone deposited $100, and SVB turned around and bought a bond for $100. If they were able to hold that bond to maturity, they would get $100 dollars back to make the depositor whole. The problem is that depositor wants their money back now while the bond is worth less than par value.
The bank has failed and those with deposits in excess of 250k have not been guaranteed and cannot withdraw now what are you talking about? The bank failed!! lol. If one had withdrawn fast enough, they have their money; those who waited lost.

The analogy is, it doesn't matter, those who didn't leave quickly got stampeded and died. Anyone who had huge amounts of cash in excess of the FDIC limit sitting there is an idiot. Doubly so if they heard of the "run" and did nothing.

As long as Fed has rates way way above 0% checking accounts, the gravity is going to pull deposits out of banks and into US Treasuries.

I've been withdrawing personal and business account cash for months and rolling in short term treasuries, many others are too as commercial bank deposits have been declining at record pace this year. Now this bank run. Anyone over the FDIC limit + those who begin to notice the interest rate differential (so..safety plus excess returns) are going to be incentivized to pull money out. This might not be the last bank failure... even if technically there is not danger on paper, human psychology will probably dictate that more will withdraw.

The rational choice is clear in this situation: anyone with excess deposits should move quickly. Who cares if nothing else breaks? Better to do it and not need to, than to need to but not do it.
For fp enthusiasts

Elixir Phoenix framework

For fp haskell purists

Haskell warp yesod servant
Why not just apply this same logic to finding a good accountant?
You lose money the instant rates go up. It doesn't matter whether you sell them or not. The only way to gain it back is for rates to go back down. Holding to maturity is irrelevant.
Use the userspace governor and set the speed too something like 2ghz and see if the problem happens, read the manpage for cpufreq-set if you need help.

Edit: you would probably be fine just setting the governor to performance and doing so would be a good thing to do as well as the userspace governor, if you have issues on performance but not userspace that means there is something up when it switches speeds, kernel/driver issue most likely. Maybe microcode?
What's the more desirable outcome for society at large, one thousand books each read by a million people or a million books each read by one thousand people?
Until now there wasn't much incentive for a consumer to have 1TB+ of RAM, for any CPU or GPU task: what were you going to do with that much RAM? render 1,000 more Chrome tabs?

Beyond the supply/demand economics and also corporate greed [1], there are fabrication issues, just look at the current mess [2], but as new US-based fabs come online from 2025 and beyond [3], they will be solved to some extent.

Theoretically, the maximum amount of RAM a 64-bit machine can address is around 16.8 million terabytes [4]: as always with computing, the journey hasn't even begun.

[1] Easier and more money in manufacturing RAM for smartphones, https://fossbytes.com/flagship-phones-ram-vs-pc-ram

[2] "EU tells Taiwan to forget about a bilateral investment pact even as bloc seeks more chips", https://www.scmp.com/news/china/article/3213163/eu-tells-tai...

[3] "U.S. Semiconductor Renaissance: All the Upcoming Fabs" (2022), https://www.tomshardware.com/news/new-us-fabs-everything-we-...

[4] https://superuser.com/questions/65191/what-is-the-maximum-am...
Tether USDT is trading at $1.01
Nash Equilibrium has nothing to do with efficiency. In fact Prisoner’s Dilemma is the game you’re playing here and the equilibrium is NOT Pareto efficient at all
I mean, you're welcome to go back to PHP and jquery like it's the dark ages, but from where I'm coding, react is the only sane way to deal with a big complicated app.
Why does rust python need to use Gil

Is it an artificial artifact or is it necessary to make rust python work?
Full of Stars
I think your explanation is missing one big thing: duration

It isn’t that treasury bonds are inherently “risky”. The risk is that when you hold longer duration bonds at low interest rates like SVB did, even modest rate increases will have a large effect on value.

Combine that with the bonehead investment in MBS which allegedly only yielded 1.5% at 10 year duration and you have massive losses.
idk maybe reddit's nootropics subreddit