skysight-inc/HackerNews huggingface dataset:
They would be perfectly safe have they dumped their deposits into T-Bills.

They didn't went for the 1000%, they went for the 5-10% extra and ended up losing everything.

Had they used T-Bills or even straight up depositing it against the Federal Reserve for NO return, they would remain liquid and could now reinvest into higher yield bonds as the rates have risen. Instead they now hold 1.5% 10 year HTM bonds that are now valued at 70% original today because the prevailing rate is 4.5%.
But that's not what SVB did at all; based on what I've read, their investments were not "yield chasing" but literally the only thing they could think of to do with the massive amount of money getting dumped in their lap.

SVB would have been equally as lambasted for keeping the deposits in cash, as that's an equally as irresponsible thing to do.
Probably depends on the circles/country. No one I know ever drinks non-skim milk (3-4% fat here). Skim milk is the standard (1.5% fat), when someone says "milk" the mean "skim milk". Starbucks only offers Milk/Soy/Oat where I live, I don't remeber seeing "Skim Milk" listed, hence I assumed they used skimmed milk like I do.

In the other hand there are small quantities of non-skim milk in supermarkets so some people must be using it.
Thanks for explaining it so well. I was thinking that simply losing the bank was enough in this case, but you make a very good point, and this kind of insight is what's good about this site.
The CIA has long had a "VC" arm; I think it's inevitable that there will be climate and energy investment funds (more like agencies) directed by DoE, DoT, and whatever Department gets created when the US finally decides to tackle climate change at large.

So I think you'll certainly get your wish but it's a matter of when. Until then it will be a small amount of informal control through a sort of cronyist "you owe us now" type pressure.
You may or may not be fine legally (other commenters cover this part) but why play it so loose? If you can afford your own computer there are many reasons to prefer separating your personas somewhat. And if not, at least you can get some poor-mans redundancy/backup benefits.

You don't mention it but I got to ask: If tomorrow the SSD in the university laptop fries and all data is lost, how long time until you are up to speed again?
Too quote myself "consistent and well defined use is most important," and I have repeated this sentiment in most if not every post I have made in this thread. My point to the previous comment was that if you were not consistent it would not make sense, if his examples did not explain themselves than they would leave the reader stopping to figure out what is going on at each punctuation mark. You can break your own conventions within a work but those conventions need to be well established before you do so and you need a good reason to do so, breaking your own conventions because relying on the punctuation is easier than relying on the language or on whim is a terrible idea.
I don't think so? Or at least I don't think there is a final end state that we were already at, and I think we are closer now than earlier today.
VCs have fiduciary responsibility to their Limited Partners.

VCs must act in the best financial interest of their LPs. So if a VC knew or suspected that their investments were at risk due to bank insolvency, they have a fiduciary responsibility to act. Otherwise LPs could sue for breach of fiduciary duty.
I wrote SimplifyRecipe.com as a means of getting rid of the extra fluff of recipe websites, and it runs via a shortcut in iOS. Overall it works remarkably well!
I suspected that but I needed to be sure.
I think open concepts are more akin to cafeteria than libraries. Some people had done great gigs that always came from a table in their University cafeteria, and trying to industrialize that experience.
I see this issue in so many areas. Government orgs and companies have different organizational incentives and tradeoffs. When we substitute a government function with a wallet for contractors, we lose those tradeoff. But it's even worse because now the company has moral hazard.
I assume your views in this case are consistent with the views you expressed in our prior discussion related to FTX. That is, it would have been your responsibility to do due diligence on the bank and properly ensure that your assets are safeguarded, and if you had failed to take such precautions, then the fault would have been yours and yours only. As a result, you would not whine on HackerNews, nor expect sympathy or compensation. Fair?
I am going to test this out today and roll this out as soon as I can, hopefully tomorrow. stay tuned.
at least there are plenty of elevators
People in this thread are speculating that CRO might be out of job precisely because they weren’t fully on board with things happening there.
man! i hope your wife doesnt figure this out.
```
wife walks to thermostat - set 16C, walks away.
thermostat: 22C!
wife pikachu face - set 16C
thermostat:....
```
Fractional reserve banking doesn't pose a systemic risk, it pretty much is the systemic risk. The system will never lobby against itself. There's too much money to be made in risking other people's money.
I view it from two angles.

People rarely do anything for free, especially when it comes at a cost to them. Therefore, there is a significant likelihood something nefarious is happening.

On the other hand, there is a high probability the owner of the website would get caught eventually in a sting operation.

The only scenario I can imagine is the website is ad supported. At any rate, I have always avoided these websites out of a fear of the first possibility.
Because the alternative is further spread of the contagion, leading to systemic bank failures. Not to mention the possibility of mass layoffs this week when payroll can't be processed.

Nobody wants any of this. It's a small price to pay for keeping the economy from imploding.
Thanks for calling me insane.

Anyway https://scholar.princeton.edu/sites/default/files/mgilens/fi...
*she

According to the linked article: "Ms. Izurieta departed the Company on October 1, 2022. The Company initiated discussions with Ms. Izurieta about a transition from the Chief Risk Officer position in early 2022. Accordingly, the Company and Ms. Izurieta entered into a separation (without cause) agreement pursuant to which she ceased serving in her role as Chief Risk Officer as of April 29, 2022 and moved into a non-executive role focused on certain transition-related duties until October 1, 2022."
> VCs have fiduciary responsibility to their Limited Partners.

> VCs must act in the best financial interest of their LPs. So if a VC knew or suspected that their investments were at risk due to bank insolvency, they have a fiduciary responsibility to act. Otherwise LPs could sue for breach of fiduciary duty.

No VC is getting sued for not telling their startups to yank cash during a 48 hour bank run.
If they think tip-offs like this are a risk they’ll raise the covered deposit amount.
New account. First post is to incomprehensibly blame this SV bank failure on… progressive politics.
Not sure what that means. When has the US government not paid their FDIC money?
And now we know where the next bank run after SVB is going to happen. It isn't going happen at a traditional bank, because the Fed/FDIC/US Treasury have that covered now. There's going to be a run on crypto stablecoins. Hopefully the coming economic calamity will be contained within the cryptobro sphere.
Why not something like Ally?

4.75% on their "no penalty cd", you can pull out after 6 days.
Half the transmissions come from airplanes, rather than the tower, so signal distance and strength will vary.
A lot of people donating to a few campaigns matters more than a few people donating to a lot.

Though maybe not so much max donations, but those matter less when you can pick up so many more $25/month Actblue donations.
True but it is all too often the product of critical thinking.
Script to pull, patch and build libinput with a modified touchpad acceleration function to be more similar to Windows touchpad acceleration. Triggered by a pacman hook whenever libinput gets updated. I think they may have merged the ability to create custom acceleration profiles now though?
So what should it be called? There's got to be a name for it where the mark to market asset values are below that of liabilities right?
To clarify I don't know the actual strategy they took. I am responding to how they can have risk in "make safe loans" or "buy safe bonds" scenario.

> They would be perfectly safe have they dumped their deposits into T-Bills.

How is this different than what you described? If the rate increases beyond the coupon of a 10 year treasury, its value drops. Are you referring to extremely short term treasuries?
I found it very useful, thanks!
I made a bookmarklet to open a webpage in archive.today.

https://ssundarraj.com/stuff/archive_bookmarklet.html
Chase charges money to have an account if you are poor. If you have money, and logically could more easily afford to pay bank fees, it’s free.

Most of the big guys work like this. At a certain wallet size you get a free personal advisor who will help manage your wealth.
>sometimes it's better for the public not to know how bad things have gotten behind the scenes

Better for whom?

It seems to me that institutions that serve the public should do so with transparency. The idea that “the experts” know better than “the public” is a dangerous and elitist one. The suggestion that “the experts” be allowed to hide their math while they fumble at the economy trying to make a buck is absurd
> The Ulefone Power range have batteries up to 12,000 mAh for instance.

Sounds like they should be fairly heavy?
The throws documentation can be really important. I recently ran into something for the API for a JDBC ResultSet. From the signature, and description, it would seem to be fine to call on a forward only result set, as long as you haven't moved past the first row yet. But in the throws section it says that if the result set is TYPE_FORWARD_ONLY, then it will throw a SQLException. And to make things more fun, not all drivers throw that exception, so it might work fine, until you switch drivers, or even upgrade your driver.
As the parent comment explained, unless the debris reaches escape velocity (in which case it is no longer a problem) it will periodically return to the altitude of the explosion or (more likely) lower, just due to how orbital mechanics works.
Here are two scripts I now can't imagine living without:

[1] is the reason I no longer need a taskbar/dock. It's a sort of framework you can use to build a muscle-memory-friendly window switcher in Linux, similar to pinning windows to the taskbar in Windows -- map Win+1 to terminal, Win+2 to vs code, etc. If the app isn't running then it launches it; else, switch to it. (I wrote this because couldn't find a consistent and foolproof way to do this in Linux, and if you switch window managers you have to start from scratch)

(For better ergonomics, if the keyboard I'm using doesn't have a win/meta key on the right, I rebind right control to win/meta)

[2] is a timestamped log file for you, a human. Set up a cron job to launch it every hour to note what you were working on, or append lines from the terminal whenever you're chewing on a hard problem. Then, use the data to build an accurate picture of what you worked on during the last week, or grep last quarter's log to find out why you decided to use library A instead of library B. I have used this since 2018 and frequently go back to gain insight into the reasons for old decisions.

1: https://gist.github.com/cbd32/cbec9a32b32bd9e93b0d2696c71b5f...

2: https://gist.github.com/cbd32/f1ee2967ec0181b934639c30f4e68f...
From what I understand, they (SVB) won’t exist any more. The FDIC will give all of the depositors their money back, which will come out of the FDIC insurance fund.

Then the FDIC will sell off all the SVB assets, and from their statement and other articles, they expect to get most (if not more) of the money back that they’d pay out to the depositors. That’ll go back into the FDIC insurance fund and SVB won’t exist any more.

I don’t think anyone knows the exact math, partly because the assets are obviously illiquid. So you’re not like getting the full value of a bond, you’re just trying to get someone to buy it off you, which means the pricing is dynamic.
your position is illogical. we cant predict the future, therefore we shouldnt try to preempt anything. oh sorry, "worry" about anything. we should stop worrying about global warming according to you. we cant predict if global warming will happen so lets just see when we get there as you say. even if we cant predict the exact time and place of AGI's creation, or even whether or not it will be created, the plain and obvious fact is that there exists the potential for it to happen. the only logical way to respond to these circumstances would be to attempt ****attempt**** ------------------------> attempt <------------------------ to preempt the creation of AGI. did you notice i said attempt? it doesnt matter if it works, we should ATTEMPT to do it.

in 2017 you and many self-proclaimed experts as well as real experts confidently asserted that machines would never, in our lifetime, pass the turing test, generate photo-realistic images based on text prompts, write essays that get As, generally speak lucidly and articulately or whatever else AI is doing now. and now we see people making the same assertion but instead of all that, they are insisting that AGI wont be in our lifetime. its a stupid, silly assertion and without that assertion we are forced to react as i have explained. if we let it just explode in our face the consequences could be devastating. and you will start to react by saying theres no way to stop it and i will comment back saying that we have to try something even if the chance of success is small which it certainly is not at this point. what would you say after that?
Sorry, but you're completely misunderstanding what you're reading, or reading false information if that's your interpretation.

Bond portfolios typically hold a mix of maturities from 1, 2, 3, to 10-year+ maturities. The short term ones offer liquidity and protect against interest rate risk. Because if the interest rate increases and new bonds are issued at a higher rate, your maturing bonds become cash to purchase the new, higher-yield notes.

Literally - call your 401k provider and ask to speak with an investment advisor if you don't believe me.

Holding only 10-30 year HTMs is absolutely yield chasing. SVB skipped having the short-term maturities, because they do not offer much yield. It is basically the literal definition of yield chasing.

>SVB would have been equally as lambasted for keeping the deposits in cash, as that's an equally as irresponsible thing to do.

All cash would've been foolish, but considering the primary purpose of a bank is to provide liquidity for clients, it's a bit of a reach to call it equally irresponsible as assuming your banking clients would be fine waiting 6-10 years for your investments to mature.
> insolvency is - the inability to pay debts at maturity

What is the maturity of deposits?
Even 'differentiate a bit' might be the same instinct biting.

Really, just market and sell adequately enough to grab the share of the market that you need is all it comes down to. Your product might even be a worse copy of an established competitor and this still holds true.

It's so rarely about more or different features, better UX, or innovative twists on ideas, and so often about just getting in front of the customer in the right place at the right time.
I don't think any of these are relevant to the situation.

1 is obvious, that's CFA Level 1.

2 is also obvious but in 2021 the Fed said inflation was transitory. After over a decade of sub-2% inflation, it wasn't hard to not believe that.

3 is not true. As rates rise, more people pull money out of the stock market and park it into higher interest deposits. The problem with SVB is that they don't have a lot of retail customers that would park their investments.
> I’ve gone my entire life without knowing the difference and survived just fine.

That is an extremely low bar. People lived their entire lives without X for any X.
For all practical purposes, the moment of withdrawal. Though the FRB states that "maturity" is not something that applies to these types of accounts. https://www.federalreserve.gov/boarddocs/supmanual/cch/20060... page 2

That's also why CDs exist. Far easier for FIs to actually do something with the money when you lock up with them and drastically reduce the risk of you withdrawing it.

Edit: Fed source.
The point is, why doesn't the government just capture that revenue? Instead we are letting private companies keep those earnings, without taking on any risk.

Let's deposit at the bank of USA and cut out the middle man.

> Basically that’s the foundation of civilization

I think many of us would disagree.
True, but getting a board to be liable has a very high standard of proof. If not then there wouldn't be any boards, the compensation would not outweigh the risks.
No. My point is whether these people were interested in doing their jobs. You'd think the CRO of an important bank in the US would be more interested in discussing or showing interest for the subject in which they are experts.
The cloud is actually inferior - It costs more over the long run, you can't see the probabilities or internals of the models, you can't change anything, and you have to give them all of your personal data that they log every second that your logged in (and probably when you're not).
Running standard inference on GPUs for these models typically runs ~800$/month if you're actually using them often, which is much more than just running it on your own computer. If you need it away from the location just use a VPN. I don't understand the unnecessary use of 'the cloud' - especially in a supposedly "tech" forum - other than as a great triumph of marketing.
> Did you read the article? From the article: ...

From the HN Guidelines[0]:

Please don't comment on whether someone read an article. "Did you even read the article? It mentions that" can be shortened to "The article mentions that."

[0]https://news.ycombinator.com/newsguidelines.html
Yeah, that's the kind of thing I'm imagining. Though it doesn't explain the VC tweetpanic unless they were getting kickbacks. Is there a cite for that, or a story posted somewhere?
Yeah, that's akin to saying FTX were a victim of CZ dumping FTT.
It does for white collar crime.

People who commit white collar crime are deeply scared of prison. And since the crimes usually are very premeditated, and not heat of the moment or out of necessity, calculations of risk do take place here.
Not quite that many or long, though reasonably close.

SF hit 5000k in the 1920 census (506,676), 634k in 1930 and 1940, 775k in 1950k, which was its peak until the 2000 census, at 776k.

The first census besting 800k was 2010, and as of 2020, 873k.

Wikipedia shows the 2021 population as 815,201, a loss of 58,764 (6.72%). I'd heard the population had dropped, but that's a pretty significant town's worth of exits. The city of San Rafael in Marin Country, for example had 61,271 residents --- SF lost very nearly that.

<https://en.wikipedia.org/wiki/Demographics_of_San_Francisco>
>So you want government to provide complete health insurance, after all. we want people to spend their time doing usefull stuff not studying the very complex intersection of all known diseases and medical beurocracy?

Yes, obviously. That we have the bulk of our population in precarious wage slavery under threat of medical bankruptcy at best, and a slow painful agonizing death of preventable causes at worse, is a crime against humanity given this is the richest country in human history.
To a degree yes, you're absolutely correct.

That social model also brings great depression as a feature, and we decided to moved away from it because great depression bad.
> a bot to automatically answer apartment ads

Isn’t that spamming? The bot answers ads that you haven’t even seen and that you might reject based on description/photos. There could be other people genuinely interested in these ads who will have a harder time contacting the landlord.
"What have I told you since the first day you stepped into my office? There are three ways to make a living in this business: be first; be smarter; or cheat. Now, I don't cheat. And although I like to think we have some pretty smart people in this building, it sure is a hell of a lot easier to just be first."
Fish is amazing. And. It was missing critical features like subprocesses for so long (10 years?) that I had to keep passing it by. No subprocesses!
"wrong" is multifaceted.

* Was it illegal? Nope.

* Did it only have selfish goals? Yep

* Did it necessarily doom others to losses by timeliness and first-come-first-served? Yes

* Did he have equity of access with others? Hell no. he's head of the queue.

It's not "wrong" in a narrow sense but most people are on point #2, they dislike Thiel (as I do) and so "judge" him to political philosophy, not to legalism.

He's not markedly more wrong than other people in his situation. He may well be significantly smarter and asymmetry in the economics space, is held to be counter-productive overall. Of course, you're naieve or a fool or both if you don't exploit it.

Maybe you have a different interpretation of "wrong" ? And, I can't fault his logic: This is basic 'win' thinking. Why hang around? What's in it for him, long or short term to wait?
The US is a single place? I did not know that.
As someone who actually came to read all this comments because I found the name “inappropriate” in the first place and I wanted to check if that’s just me.

Now after reading all the opinions and contemplating on them I’d say i would change my mind as long as the project README would mention the phonetical origination of its name, just in case someone not familiar with the original Dalai Lama, but stumbled at your project would have a meaningful reference.

Having that information included in project info - I’d say it would do more good than harm. Otherwise - it’s inappropriate
Classic deontology vs utilitarianism. I doubt we'll ever convince each other. I appreciate the discussion though.
> There's also papers on extreme working hours having negative effects on fertility

It could be, but the fertility rates are also going down significantly in Europe despite the fact that there's no extreme working hours there - so how much this is a significant factor is a question - if it is, it probably differs from one country to the next.
I tried it, doesn't work. Trying the sibling post from @buzzier.
Why would you directly compare those two numbers? It owes all those deposits to other entities.
Thanks very much for posting that link, very informative, especially from the perspective of understanding the "hold to maturity" vs "available for sale" classification and how banks can play tricks with those.
What happens if Thiel is discovered to have had insider information about the impending closure of the bank? In between the very specific timed messages on Wednesday, to get funds out on Thursday, and for Brex to have an application up and running by Friday afternoon to be ready to take loan apps for people, it certainly doesn't seem out of the realm of possibility.

Does his fiduciary duty to LPs outweight the insider information? IIRC its actually illegal to encourage or push a bank run.
> this is yet another example of changing the rules in the middle of the game.

welcome to democracy bro. also, economies are literally black magic. if anyone claims to know how to make them work right, they are either lying or a witch.

Edit: oh shit I'm getting downvoted to hell. Was it my suggestion that economists are full of shit, or denigrating witches? Because I have nothing against witches.