skysight-inc/HackerNews huggingface dataset:
I was talking to some friends in finance about this, and unfortunately most of SVB's customers couldn't just pick another bank. Allowing a company to open a business account requires a bank to do a lot of know-your-customer stuff, as well as taking on a bunch of money-laundering and criminal-enterprise risk (that is, there are laws that punish banks if they hold funds that are used for criminal activities, especially terrorism-related activities).

Many banks, even the big ones like Bank of America, Wells Fargo, and Chase, do not want to do this for random new small companies with no history and unknown founders. SVB was -- I believe -- founded in part to fill this gap.

Beyond that, there are also come contractual relationships between some VCs and SVB that require some VC portfolio companies to hold their deposits (at least some amount of them) with SVB. (I don't entirely understand this point, but even if I'm getting it wrong, the previous point is enough.)
Almost everyone who supports U2F or WebAuthn also supports enrolling multiple keys.
> You can add 32 of these secrets to a Yubikey device.

I have 45 of those currently in my Authy account, which syncs on two phones for redundancy...

I'd love to use a Yubikey for this, but I'd have to split those accounts across multiple yubikeys, which would be quite a headache to maintain, especially if one wants redundancy...
Communicating with individuals is only a small fraction of what social network provides.

How are you going to communicate with a group of peers who all need to know everyone's responses to your messages... by mail? Do you realize how long this will take and how cumbersome it will be?

How would you make it possible for others, who weren't part of the conversation to come later and rediscover your entire conversation letter by letter?

Letters aren't a good replacement to social networks if you are thinking about a pre-digital age. Newspapers that publish paid advertisements are probably a better replacement... but they also don't quite fit because they lack the function of private messaging...

I don't think we have an equivalent to social networks in pre-digital world.
Yeah, I have years worth of runway and could probably retire if I wanted to live a more frugal lifestyle, but I don't work if I'm not getting paid period.
MCU is CPTSD at this point.
The Irrationality That Forms the Beliefs of Janet Yellen
Irrelevant due to Global Intangible Low-Taxed Income (GILTI)
Yes but if companies collectively recover 80-90% of the capital, the additional context is extremely relevant.
As someone that is not following this as closely as I would like, does the collapse of this bank have nothing to do with FTX and Crypto?
Feedly and sadly not feeling it these days. Would like to switch to something self-hosted and open source, but haven't been impressed with what I've tried.
RSNs got too expensive. Categorically sports are the most popular genre on TV but fewer than 50% of viewers watch them.

MLB saw the writing in the wall and invested in a streaming platform early on that got bought by Disney.

It might be fair for people who really like sports to pay for them direct-to-consumer but there is also the way you might get some random exposure (like the time I saw a women’s World Cup game between the US and Japan) and that makes you a fan.
The difficulty is, people can still scrape the data. That data scraping is likely to cost Twitter more than the API did, as they have to serve up the full page.

Yes, you can try to block people doing that, but historically people haven't succeeded.
Hahah also good clickbait. Maybe one day if I'm lucky
Interesting article touching on the meaning of the "digital" in digital computers, and beyond that, how digital computation relates to thought (and even, what is "computation"?). My personal guess is that the Church-Turing hypothesis is true, and that digital computers are enough for AGI (not anytime soon), although I'm aware of various thinkers positing that digital computation is insufficient for AGI and/or consciousness and some kind of analog "computing" is needed.
> It's not like those government bonds won't pay out...eventually.

Does that really matter though? Anyone can buy and hold to maturity. The market price indicates that that's not good business.
Amongst the _thousands_ of peaceful, multi-racial, protesters they found 7 guys who simply possessed guns and one guy _uttered_ a threat.

And that is the criteria you would use to silence all of them?

That is a very low bar for censorship and doing away with privacy.

The same standard is not being applied to the “fiery but mostly peaceful protests” that we saw just a year prior.
Wikihow: How to Make an Indicator for Acids and Bases Using Hibiscus Petals

https://www.wikihow.com/Make-an-Indicator-Using-Hibiscus-Pet...
SVB-like bank runs can be prevented with VBS-like locking.

https://havenprotocol.org/knowledge/vbs/
How can you tell me that you're American without actually saying it? Oh, here's a way!
Taxes fund the government. Bonds are just a way to avoid managing a budget.
I don't think the statement is completely misplaced as other comments on this thread indicate. Everyone has to be wondering if their bank is next. Just an anecdote, but, I'm sitting here wondering if I should sell the bank bonds I bought because the counterparty risk just skyrocketed. It doesn't take much to get the snowball going.
> Conditional breakpoints are easier to work with if they can be directly included in the source code

The following code (probably, haven't tested it) allows to create a conditional breakpoint only when a certain method is called by tracing down the call stack

debuggerIsInMethod: aMethodName
ctx := GRPlatform current thisContext. "grab callstack"

[ctx isNotNil] whileTrue: [
(aMethodName asSymbol = ctx method selector) ifTrue: [ ^ true ].
ctx := ctx sender ] ].
^ false

So in another method you can send (call the method) that's deeper in the call stack by doing:

someMethod
"do work"
debuggerIsInYourMethod: 'aMethodHigherUpTheCallStack' ifTrue: [ 1 halt ].
"do more work"

Use case: Suppose someMethod is being sent/called from everywhere, but you only want to debug it when aMethodHigherUpTheCallStack is sent/called. With this conditional breakpoint (in code), you can :)
Good to know they are working on this.

Is there a legal issue with spoofing user agent to be the google crawler? Spoofing is certainly enough to get rid of article paywalls for 99% of sites Ive encountered. At least last I heard you can also work around cloudflare captcha by just routing requests through a worker on their service.
Only indirectly; the tide is receding for the first time in many years, and it's exposing a variety of... issues.
> SVB used an exemption from Basel III,

Really?

That is interesting. Why? How? Who else?
I assume so, but am not certain.
On the contrary. Many of those people are now tenured professors and deans of universities, which Bezmenov said were specifically and overwhelmingly targeted by this strategy. Guess which ideology most universities lean on - the ideological uniformity and persecution of different viewpoints has reached an extreme level there.
"If you think Cambridge Analytical was great, try this thing that's even better!"
Tldr: people problems are problems, having a good team is important, socialising is important.

This is such a non-article.
"But if all of your depositors are startups with the same handful of venture capitalists on their boards, and all those venture capitalists are competing with each other to Add Value and Be Influencers and Do The Current Thing by calling all their portfolio companies to say “hey, did you hear, everyone’s taking money out of Silicon Valley Bank, you should too,” then all of your depositors will take their money out at the same time."
What’s interesting is that this bank failure as well as the failure of a neo bank Xinja in Australia despite taking in deposits both illustrate that it is not the case that banks make money by “lending out deposits” but rather by issuing loans and then attracting enough deposits to make their lending operations profitable.
Then you can't really complain about not getting paid for it, can you?
Have you perchance misunderstood my post into that «Correlation is not causation»?

What I meant is there literally: you have to «investigat[e] the paths of causation», which is meant to mean, you cannot (should not) practically fight the full correlated context, but the specific cause.

I.e., in the picked metaphor: "you do not blame life for death" - find specific causes and curb them.

Which, by the way, if the "«midwit»" reference were still applicable, is beyond "IQ", because what was expressed is meant to be "in the set of basics" - yet to appearance absent in the article. I expressed that the article seems to miss that basic point.

I.e., the idea that "smartphones and social media" would be detrimental is extremely cheap, as if saying that "heating is polluting" - yes, and also useful, so you identify the weak parts and try to act on them.

> and it doesn't take a ton of imagination

But the article did not exercise that. And I think it would have been "kind of required". See my other reply nearby, https://news.ycombinator.com/item?id=35102296
There is literally only couple of US universities having that, for smaller universities 42k a month for a research or two doesn't make any financial sense at all. This price is just basically a huge gatekeeper to prevent most people using it.
I really don't get why people keep coming up with all these elaborate plans to mix solar panels with other stuff that's in active use, instead of just putting fields of them out in non-endangered desert elevated enough off the ground that they won't actively interfere with local animals.
I think the issue with the comparison is that cigarettes are much worse.

Like the original comment, I won’t be surprised if social media becomes stigmatized as people continue to realize more negative effects, but I doubt any of the effects are going to be as serious as cigarettes.

It’s hard to compare the data, but I’m pretty sure smoking is much worse for you. A bad smoking habit is likely to kill you. There’s a point at which you smoke so much that it’s more likely to be the reason you die than anything else. Social media just makes you miserable.
At my last place, my biweekly wage was over 10k, which means that at most you can have about 25 mes, and I am neither a particularly well compensated nor particularly senior engineer. There were many making more than that. Many companies have more than 25 employees.
Though I’ve never connected the dots the way you have, the last time major commercial banks (like WaMu) failed it was because of being caught swapping much riskier assets than this article is pinning the blame of SVB failing for. Also, when it was clear that there was a risk for cascade collapse of major commercial banks, fed leadership and potentially people from the fdic went to congress and told them to stop playing partisan football, and TARP was passed within a week.

If SVB really failed because it misstepped and believed it would make more money off of government bonds and didn’t, I don’t really see there being a risk of the major banks collapsing. If lots of smaller banks banked on (no pun intended) doing the same thing though…
There's pretty huge gap between $0 a month and $42,000. Even a year of data would require pretty huge grant.
When you consider the fact that police are lying sacks of garbage, you don't need to nullify anything. You just find the state's witnesses non-credible.

I think most will admit, they have a bias to believe agents of the state. This preconceived bias should be treated no different than a preconceived bias to the contrary.
Startups Are Worried About Paying Employees After SVB Collapse
There's nothing exclusive about social media in this regard. Any Web application that could do that, tried to do that. Web search engines? -- didn't they try to tailor search results to your profile (or paid advertisement)? Retailers? -- didn't they try to suggest related goods based on your profile (or paid advertisement)?

Everyone on the Web who used ads wanted to know your profile and wanted to manipulate the contents they provided to you based on it (and the wishes of those who pay for the ads).

Again, the problem is not the social media. The problem is the Web.
I agree that language server and debugger are different beasts, but both LSP and DAP serve a purpose of re-using the same server (xrefs or debugger) with different IDEs.

> I can implement the LSP and get support for IDEs essentially for free
I mean, technically same is true for DAP... You can implement DAP and get support for IDE for free. But I agree that in general case implementing a good debugger is harder than implementing a good language server.

If Drustzig requires a special debugger (e.g. because it uses acustom format of debug information), then you'd need to implement it, yes. However, existing debuggers can support new languages relatively easy if those follow standard conventions (e.g. use PDB and DWARF). For example, Rust support in LLDB basically comes down to a custom demangler.

Again, I'm not saying that DAP is perfect and solves debugging, but IMO it's a step in the right direction. Make it popular, make it extensible. Debuggers can be mostly language agnostic (within reasonable bounds), but they don't _have_ to be.
It is very hard to keep supply chains segregated like that and also expensive.

Even military industrial complex which have a sharp focus on kind of independence and budgets to see it through trips up constantly and just find out some core components are coming from foreign sources that can be fragile or threat .

Just as we are discovering last couple of years whether with baby formula or chips sometimes there are risks in the system which no one knows or can’t do anything about .

Not to mention such reliability costs money no one is ready to pay for .
With so many banks dropping 20%+ I don’t see how this doesn’t result in an economic catastrophe.
> The exemptees just need to be fucking careful

You mean “need to have sheer luck in their gambling”.
I dont get it.

Why would you care or think much about hiring as an engineer? You probably would not even be asked to attend interviews. If you vibe with the company and share the vision okay but this is not a matter of perspective.

Why would you NOT be interested in getting to know your coworkers? Why NOT have interesting conversation or a good laugh at lunch? This has nothing to do with beeing an engineer or manager either.

Obsession with code maybe more important for an engineer. Does not mean it was „wrong“.
> They invested in T-Bills

They invested in T-Bonds (10Y or longer) and MBS (mortgages) it seems like, not T-Bills (1Y or shorter)

The distinction is extremely important in this case. If they were trading T-Bills, they would have survived. Instead, they took on much riskier T-Bonds (probably hoping to make more money).
Need Help for Stress and Anxiety? Maybe You Shouldn’t Talk to a Therapist
Didn't check, but maybe memory pressure. I have 8 gb ram but had Chrome with hundred tabs and other stuff open.
Ah yes, a classic for sure. That pairs well with the libertarians who demand freedom to do anything they want to others, with a state just large enough to keep their inferiors from doing anything in return.
You're talking as though the SVB depositors are some sort of hive mind capable of acting in concert. They're not.

Each individual depositor has to make the bail/stay decision with extremely limited knowledge of what everyone else is going to do. They know that the market is freaking out at SVB's sale, and they know VCs are sending panicked emails to their startups telling them to bail. They know that if enough people actually do bail they may lose everything they have (in excess of $250k).

Presented with that information, the only rational move for a depositor is to bail. It's weird to blame the VCs for making the only good choice available to them.
https://archive.ph/WgKek
Report from the California Department of Financial Protection on SVB [pdf]
To be clear, people should not be using this thing that has no limits on what data it could be consuming. The CA thing people were upset about was that one user could give CA permission to read their FB data and that meant that CA had access to anything that that user had access to (like data that their friends shared with them). This is the same, without it even pretending to be limited by the restrictions that CA was limited by.
This is actually a reasonable license! Thank you for sharing, will add it to my post.
Ok so you're saying it's bad that they fund the government. But given the large budget deficit we have, the statement is true.
Agreed. I still use acrobat for form filling and this one for the rest
Hong kong has been an under Chinese sovereignty since 1997, it’s regrettable that the PRC has reneged on their promise, but it has never been an independently sovereign state.
I agree it's easy to see it that way as an IC (I thought the same!). I think the more senior you become the more you will view impact from the lens of your team/org, even as an IC
Clearly you have never heard of an agent provocateur
It's expensive because now the real customers are now out in the open: governments. Endless coffers.
Yes these are the kinds of people in Silicon Valley that like to lecture everybody else on how to think and behave.
Most of the data I work with can't be visualized by printing. (I mostly work on 3D and video.) But I have found it invaluable to log data, then read it into another program. Sometimes I can just bing it into a spreadsheet and plot it, other times I need to write something to display it or analyze it. It's definitely an under-utilized technique!
Oh come on, uninsured creditors will get back at least 90c on the dollar when the dust has settled. Likely 100c. So yes, they can absolutely use the IOU to cover short term expenses.
> VC firms don't hold capital either - LPs do. They may be able to do a capital call, but it'll take time.

Are you (and the YC boss) suggesting that the government is more nimble than VC machinery at deploying capital when shit hits the fan?

Re: your edit: how is it unclear? There are no allegations of fraud or other irregularities- the thesis that they put depositors funds in long-term bonds (with positive interest) and then had a run
It also kind of sounds like "look on the bright side" when you consider how often those example tech companies we'll be lacking a future replacement version of buy up small startups just to squash them or keep them out of hands of competitors.
Probably some rural areas. There was one sparsely populated area in Northern Wisconsin I was told avoid ordering food at non-chain restaurants. They would happily try to kill you or make you sick if you had a food allergy.

Having grown up in Wisconsin, I absolutely believed that. I went to high school with people like that. And they got it from their parents.

My dad heckled me for getting a Prius and buying Apple products.

It makes me really sad because they aren’t representative of the majority of rural people I know.
Expect mass layoffs later today, Monday at latest
I don’t understand the disgust I’m reading for VCs and startups. Bailing out the bank doesn’t mean we let the bank CEO get richer off this transaction (like we did in 2008). It means the startup companies making payroll are going to survive and continue building the future of technology and healthcare.

What am I missing?
>If instead you have a few smaller offices in the burbs outside of downtown, you could save a lot of time for workers as they would be traveling counter-commute.

This only applies to some people living in some areas. If you locate in the east side suburbs, people who live in the westside suburbs are going to have a helacious commute.
There are plenty of places in the garden around my home that either are always shaded or are only in full sun for a few hours a day. Yet there isn't one spot (except under my house) where nothing grows. Suitable spacing, height and angle of panels (which could adjust during the day) and choice of crop all would come into the mix of what would work.
I don't understand why this sentiment is so prevalent. It's like people watch Silicon Valley the TV show and think it's actually representative of big tech.

I don't know anyone who does what I could consider "fake work".

Unless you think anyone who doesn't measurably and immediately impact the bottom line is doing "fake work".
It is interesting to see the raw visceral reaction to the DC council attempting to reduce prison sentences for crimes committed in the city. Congress even got involved to make sure it didn't happen, which has not happened in decades. Apparently a 14 year sentence for carjacking is not enough deterrent, it must be 20 years according to Congress, the President, and even the mayor of DC.
Treasury bonds are "safe" in the sense that you will (because the US Government will not default on her debt) get your money back. The caveat is you will get your money back at maturity; if you need it before then, well, market value adjusts based on current yields.

If you're investing in bonds without building a ladder you're honestly doing it wrong. With the past 15 years of easy money and low yields it might have seemed pointless given rates barely moved, but completely giving up on any ability to capitalize on higher yields if rates move up is just poor investing :/
I see the point you are trying to make here but your argument isn't very convincing. You are completely ignoring the impact regulatory oversight would have. If fractional reserve banking was banned outright due to the risks it poses, then the situation you just described would never emerge.

As time goes on it's becoming more obvious that the current status quo is unstable. Our financial institutions regularly engage in ponzi like activities and we've become accustomed to near catastrophic collapse at the end of every business cycle.

If we are going to stick to fractional reserve banking then we need to come up with better reasons why otherwise I feel like the entire system needs to be reevaluated.
What’s an execution state? From my reading of this post, it doesn’t seem to be an architecture.
Wonder if any of the SVB owned private equity or debt will be sold off or marked down because of all this.
The code is open source on GitHub.

https://github.com/CybersecurityForDemocracy/social-media-co...
Well that clarifies that. It's interesting that this sort-of automatic eminent domain doesn't require some form of compensation to the (previous) owner of the land. It also just sits poorly with me that the public's interest in a small portion of beachfront is resulting/going to result in the destruction of such a nice place -- albeit that I know almost none of the particulars.
If people keep borrowing everything will be alright? Society, the economy, doesn’t work that way.

The economic good times are when confidence, trust, risk taking are all high. That music stops when people lose confidence, the Great Financial Crisis, just like all recessions are fundamentally a loss of confidence. This causes people with funds to claw them back, and retreat into their castle, and wait for the bad times to blow over. This is what happens when the economy collapses. When prices and asset liquidity crash. When rates go up. When you can’t borrow anymore and when you have to pay back the money you are borrowing, because it’s in the fine print that they can ask for it back whenever they like. Then inflation goes up. Borrowing rates go up. Asset prices go up, unless no-one has confidence in that particular asset (eg stocks or property where those companies are based).

Consumer leverage is not a bulwark against recession.
I'm saying they shouldn't have bought what they sold in the first place.
> Why wouldn't a lender lend in this scenario? It's almost zero risk.

it's not

you can't predict what the unwinding of SVBs positions will produce in 6 months time (or however long it takes)
Dunno if you’re being intentionally tongue in cheek, but a monkey jpeg startup is pretty lazy/scammy/bs-y