skysight-inc/HackerNews huggingface dataset:
So let me get this straight: a solution is a mysterious system. What we have is a mysterious system. We must have the solution!

> Pretty soon we'll have to accept that we are just biological machines

But what is the code running on those machines?

That's what you are missing. If the mechanics of the machine are a mystery, you will never read the code.

You didn't find the solution, you found your lack of a solution.
This may become possible soon. Login.gov is an SSO provider for the federal government.
I could travel coast-to-coast in a weekend in an autonomous ICE vehicle (35-45 hours on the road, depending on traffic), but likely not in an autonomous EV.
Most academics (at least in Sweden). Get a lot of their articles from their University Library. Scihub is also an option if needed. If those options aren't possible then either request the library to buy it or to do it themselves. Besides it is way less than $43k.

Even then a lot of people are against the high cost
Ah, my bad.

Then yes, I agree they probably won't be made whole by the fed or government. Nor should they, in my opinion.
As Garry wrote, companies would furlough before closing up shop. You get your paycheck, and then you're told you're furloughed until FDIC does their thing. This protects the company and the founders.

This may be better or worse for workers than being laid off.
This to me feels like the folks that call their router a rooter.
I didn't do any cracking, but I was a teenager in the late 90s and I share your thoughts on the way that computers and the internet eventually opened up my experience. I ended up making friends with any internet café owner in my city because that was the only reasonable place to use the internet before broadband.

Thanks for sharing!
So is Qatar. (apparently 48 hour week / 8 hour day - two weeks of vacation - overtime to be compensated 25% - unsure about limits?)
Old: Subprime is contained!

New: It’s just some startups!
I think the keyboard aspect was wanted back when smart card readers and extra software drivers were needed, but there are USB "smart cards" now and operating system support is solid.
> it hasn't turned a profit in years

Barring the $800M legal settlement which took them to $220M loss, they'd have made $580M profit in 2021. Things were definitely on the upswing.
And how did that work out for them? Are many of the people who were using SVB yesterday happy about their decision today? If they could go back in time and give up whatever that innovation was, and not be praying that they still have their money next week, are you saying most of them would be happy where they are? The problem here is that the system just isn't transparent enough: you put your money in a bank and I guess you just have to assume that they are really really smart or you lose your money... people make fun of crypto here constantly, but at least there everything is an open book. At the end of the day, the situation with SVB is actually worse than some scary DeFi protocol.
“SVB failure” stands for Silicon Valley Bank collapse.

> Silicon Valley Bank collapsed on Friday after a run on deposits drove the Northern California institution into insolvency, marking the largest bank failure since the financial crisis.

Source: https://www.politico.com/news/2023/03/10/silicon-valley-bank...

Discussed at: https://news.ycombinator.com/item?id=35096877
> Sure but that collusion actually makes sense from their perspective and is literally the exact opposite of what's being alleged

But it absolutely calls in question the notion these companies wouldn't do something just because they're "competing" against each other.
If I am a thief and I know I'm just risking one year in prison I may as well keep stealing. If I'm stealing I'm already a lowlife - Worst case scenario

If punishment for stealing was cutting my hand, I'd definitely not risk it.

Note: I'm not justifying harsher punishments for copyright infringement and I think an appropriate punishment for theft would be forced labor where the profits go to repay what was stolen and some more.

In a just world copyright infringement would not be theft: the only thing we should charge is whoever breached their contract with the source and redistributed the content.

It shouldn't be easy to persecute copyright infringement, it's a "natural tax" of the market: if your content is so popular you can't track who is redistributing you obviously made a boatload of money.
Exactly that. I am wondering why the “pressure” to generate more yield or any yield at all. It is counterintuitive to me to view the startups deposits as investments and not as saved money to be used later, hence no need for a risky or any yield (even if part of the savings will be washed by inflation year over year)
Whatever you mean by "relationships" is in fact an "innovation" in the banking sense.
Go read Twitter Files
The question was to understand how Elon has far-right views (e.g. Nazism). What you provided is an article that shows Elon as narcissistic. I wouldn't call that the same.
Technically, it wouldn't work at all. All Google projects are deeply tied down to Google's own tech infrastructure. They would need a complete rewrite to function outside.

Legally, it's difficult to ensure the IP is properly handled. I'd go as far as to say it's so difficult it's impossible.

Financially, there's almost no incentive.
They’re talking about transparent solar panels right? HN has been very weird lately. Was this article topic suggested by chatGPT?
How long do they have to file the 8-k? I own stock in a few high tech very silicon valley based companies that aren’t mega tech. A little concerned.
You can check out any time you like. But you can never leave.
Old chap, this is Britain we are talking about.
In the scheme of things, those aren't even nice notebooks. Check out anything with Tomoe River paper.
> This is such a classic "just asking questions" move. You could save a lot of time in your day if you concern trolled a little less.

If only I would go along with mindless gossip without asking questions.

The artificial boosts applied to his account remain in place, although the factor is now lower than 1,000, we’re told.

Alas.

Nevermind breathless verge articles the dude was literally tweeting about all of this as they were tinkering.

> Really, I think that if you have something to say, you should just say it out loud from the outset instead of leading people around by the nose and wasting everyone's time.

It is very obvious to me and most here that some people hate Musk now so much they are willing to do exactly what you accused me of - construct something out of precision-selected tidbits - and throw shade that he is some far-right type. To certain people anybody they don't like is "far right" and <insert bad term here>.

This is very lame behavior. Cancel culture is canceled my friend. The ends do not justify the means.
What does Silicon Valley Bank’s collapse mean for the financial system?
you made an acct just to write that?
> Why do people like him think copyright laws are bad and made by rich people, but also support open source software, which relies on the same copyright laws to exist.

There are quite very different open-source licenses. Copyleft licenses do depends on copyright, that is true. On the other hand, typical non-copyleft licenses are in my opinion much less dependent on copyright.

A world without copyright does in my opinion not correspond to any open-source license that I am aware of: you are allowed to reverse-engineer and distribute any software that you want and you must not forbid this to any person using your software or any work derived from it, but nobody is obliged to provide any source code.

In my personal opinion such a license is a gap in the "market of open source licenses", so if some reader feels inspired to create such an open-source license, I utterly encourage the respective reader to do so.
The real cost to startups is in management attention. If you're running a YC-funded startup, and got hit by this, it's going to occupy your attention for the next week at least, and probably the next month. The skills needed to deal with this are way outside the skill set of most tech founders, and even outside the skill set of most bankruptcy lawyers. You're going to need corporate lawyers and people who can evaluate deals in SVB receiver certificates. There aren't many people who do that sort of thing, and by now, they're probably all booked up.

And what are those founders going to do? They're going to call up YC, which funded them and has board seats, and ask for instructions. YC probably told them to use Silicon Valley Bank.[1] So now YC has some responsibility to untangle this. It's probably in YC's interest to find a bulk buyer for SVB receivership certificates. If they don't, all their startups will be losing a month or two of management distraction while dealing with this problem.

For YC to take the lead on getting a market going in that stuff makes a lot of sense. They're the largest interested party. There are probably people at YC right now working the phones, trying to find a buyer for that paper.

So, priority is to get through the next two weeks while somebody works out a longer term solution.
Keep track of which founder teams deal with this well. They have potential in running a larger business.

[1] https://www.svb.com/account/y-combinator
> I just spent a bunch of time setting up a Raspberry Pi 1 B with Alpine Linux

But why? That’s ancient! I’ve got a few different models of Pi’s laying around and even the 3B+ ones feel old at this point!

The oldest one that I have is surely an RPi 1 Model B as well! Because it has dual USB ports and no more USB than that. Haven’t used this one for ages tho, but still have it sitting on my desk here.

Edit: Specifically, after looking at some more images and details online, the oldest mentioned Pi that I have in my possession seems to be a Raspberry Pi 1 Model B Rev 2.1 (UK) model.
Yes, but the time most of us find out it's likely chasing and low probability (buy the rumor, sell the news)
Only if you are faster to react to the news than the market. It would help to have a model of how much the company’s value is affected, so you can evaluate whether it’s priced in.
LLMs generate continuations. Those continuations are built from the text they are trained on.

I see GP suggesting that because humans!= LLMs that "doing word prediction" is not an exhaustive list of human behavior.
I'm not aware of any useful hedge for long term US government bonds. There are inflation protected bonds (TIPS), but they wouldn't have worked as a hedge in this case [1].

1. https://www.schwab.com/learn/story/treasury-inflation-protec...
You speak like clouds never have downtime, or don't charge you for space and power. Look at the article - that one company would needed to have paid more than their entire revenue to AWS for worse hardware. They'd have spent $400M in 3 years on the cloud! There are no "hidden costs" that can even begin to approach a fraction of that.

As for staff salaries, lol. It's not like AWS is self administering.
That's an issue that needs to be tackled, certainly, but "solving" the issue by limiting women's rights relative to men and stripping them of their choices is horrific.
This logic is counterintuitive to me “As deposits grew, SVB could not grow their loan book fast enough to generate the yield they wanted to see on this capital.”. Startups are not depositing the money in SVB to invest it, they are storing it for future use. Why the pressure to generate yield and grow the loan book “fast enough”?

https://twitter.com/AhmadBaracat/status/1634293096639787008?...
I believe that after a period of strong Norwegian krone - we're now back to normal, and pay is generally better in Sweden and Denmark.
Not investing advice, but usually "The Money to Be Made" is found in non-obvious/non-knee-jerk reactions.

Roku wasn't priced the way it was because of the cash on its balance sheet, it was/is priced on earnings, for example.
> "- In 2021 SVB saw a mass influx in deposits, which jumped from $61.76bn at the end of 2019 to $189.20bn at the end of 2021.

Would be interesting to see where that money came from. That has all the markings of a pump before a dump, the dump being 2023. They didn't even have to dump, they just had to stop the pump to auto dump once the interest rates went up.

SVB opened themselves up to an attack vector and one thing the banking industry likes to do now and again is consolidate and shakeout. That amount of inflow in good times can make you do funny things. The better way to go about it is be scrappy always, and expect the attacks.

There were way too many companies in this bank, it had too much concentration of startup/VC/PE money. Regulations will probably have to be made around this now more robust.

HBS is even realizing too much optimization/efficiency is a bad thing. The slack/margin is squeezing out an ability to change vectors quickly. This is happening from supply chain to credit to food and more.

The High Price of Efficiency, Our Obsession with Efficiency Is Destroying Our Resilience [1]

> Superefficient businesses create the potential for social disorder.

> A superefficient dominant model elevates the risk of catastrophic failure.

> *If a system is highly efficient, odds are that efficient players will game it.*

[1] https://hbr.org/2019/01/the-high-price-of-efficiency
I’m a fan of the blank wire-bound Mujis for writing — especially the fine stuff I need to do at 0.30. They look classy and they love the rollerball.

Only downside I’ve found is the paper is thin enough that it’s not a great notebook to have at a bar, where you might get condensation dripping on it, nor for the gym where your hands might be sweaty. For the same reason it’s not much of a sketchbook, but for writing it’s my go-to these days.

I like the pens well enough to keep some around, and I appreciate all the color refill options, but I don’t think they’re “better” in the same way the notebooks are.
Apparently we just switched to Mercury AND Brex. I guess we're diversifying.
Brex is offering bridge financing. https://www.brex.com/svb-emergency-line
A few things clicked for me here:

The algorithms that show me “things to watch” are so utterly useless (and yes I’ve thumbs downed a whole lot of things but it keeps showing me crap). Especially bad is Netflix, I think once Stranger Things is done with the final season (5) I’m out. Which leads to:

It’s f’ing impossible to find things (especially on Netflix). The whole UI of a wall of rectangular cover art with a show name below with no additional information until you click it is seriously the worst UI ever designed, it didn’t work well for music and it definitely doesn’t work for video ESPECIALLY on the limited and slow interactions of a TV remote.

These points above partly explain low viewing figures for new shows: they are so utterly hidden from view, the first season barely has a chance to get started before it’s pulled because cost/viewer ratio is too low.

Moving on from that - I’ve stopped watching anything that’s not a wrapped up series or a limited series (Maniac or New Cherry Coke Flavor on Netflix come to mind).

Often before I even start watching something I’ll quickly Google for “<show name> cancelled” before I waste time watching it.

I completely agree with other commenters here about companies committing to a guaranteed number of seasons / episodes which wrap up the story neatly…

If you look at a great example: BATTLESTAR GALACTICA (reboot) - the writers knew exactly how long it would last, everyone committed to it and the story was told and it got critical acclaim. Once it showed its worth there was still room for “sequels”. “The plan” was a great example of how the exact same story could be told from another point of view.

Another thing that comes to mind is “the matrix” which as a trilogy came to a satisfying conclusion. The amount of money spent on Matrix 4 verses how utterly terrible it was (does anyone even talk about it any more?) show a good reason why things need a definite end.

That being said I’d probably watch a tv series that showed the matrix world from the machine world…
Why would that be the case.
It's a breach of contract.

They should repay the damaged counterpart if they can prove they had a sales contract in place.
What does almost mean in this case?
God help you, you made an honest mistake, and now everybody gets to jump down your throat about it. Here's an upvote from one of the few people on HN who occasionally commits and error and can sympathize.
> SVB being a bank was basically forced by regulation to buy long-dated bonds for yield.

Is this true?
To be clear, I pointed out that the wallets can do many of the things the Yubikey can do (in addition to what you mentioned).
In India, 420 is generally used to refer to a person who is a cheat/dishonest. Still fits guess.
https://en.m.wikipedia.org/wiki/Section_420_of_the_Indian_Pe...
What's the point of auto-unlocking using the TPM? Does this mean people may be able to access your data without a password?
It's not like they want complexity, it's the latter: the "nobody ever got fired for buying AWS" problem. They stated it explicitly. They're terrified of anything counter-cultural or that seems to be going against the tide because they want to be seen as in the future and not stuck in the past. Fashion, FOMO and weakness combine to yield a "cloud at any cost" mentality.
Agreed. AI has a TON of real-world use cases, right now. I just wrote a letter to an insurance company asking for a settlement for a car crash with the help of ChatGPT. My friend couldn't afford a lawyer or knew how much to ask for. ChatGPT suggested some amounts for minor whiplash and whipped out a letter (pun intended) to send off for negotiation. This is distributing equity to people who couldn't afford it otherwise.
SVB's shareholders take the loss in the value of their shares (which were down >70% before the regulators stepped in).

What will probably happen:

- Regulators will sell SVB to a bigger bank at a greatly reduced price which makes it worthwhile for the buyer.

- Depositors will be able to withdraw up to $250k cash starting Monday (the FDIC insured amount).

- Funds above that will eventually be recoverable in phases with the first chunk available by the end of next week (because SVB does have billions in cash, the issue is with the long-term value of their investments not meeting regulatory requirements.)

- If the system works properly, it's highly likely depositors will get 100% back. It may just take a little longer.

- There will be an investigation of the bank and its board's Risk Committee. Things aren't looking great for the CEO and the former Chief Risk Officer who unloaded some of their stock but that's more of an 'insider trading' beef against those individuals (ie unrelated to the bank's failure). So far, in terms of risk management, it doesn't appear SVB did anything out of bounds or even unprecedented.

Arguably, as conditions changed last year they chose a particular investment strategy which would normally have worked out but instead hit a pretty unlikely perfect storm of external factors including the Fed raising rates really fast. We don't have all the info on who knew what and when but my guess is: if there's "wrongdoing" here, it's probably more stuff like not taking the corrective steps they took this week sooner. They may have been hoping to "play through" the rough patch and it could have worked - but this time it didn't because there was a run by their unusually close-connected depositors in the tech startup community.

(Note: some folks are arguing that the Fed itself created a volatile situation for this bank (and others) by doing pretty unprecedented things which rapidly impacted the bond markets and other securities tied to Fed rates. I find this argument not entirely unreasonable. We won't know root causes until regulators unwind this.)
I think what makes this sound so profound is that the second point sounds like a shadowy, centralised cabal. In reality it's a lot of the participants in the graph, for various reasons.
Uninsured depositors at IndyMac Bank lost 50 cents on the dollar.
The right to recognize Manitoba as a province?
it stays for month due to storage issue. If it weren't a storage problem, they would keep it forever.
I think the penalties of many laws weren’t made with fairness in mind but deterrence. The penalty goes up until crime rate comes down. It makes sense I guess, it’s not meant to be a trade - much less a fair one - but to stop/reduce crime.

Edit: That said, super heavy penalties for what are often victimless crimes might not be good for society overall - might be better to allow the existing offence rate for that crime.
Independence from whom?

From their husbands? Only to be dependent on some stranger boss instead?
ok, i looked that up. i really don't believe ppe does anything useful, i have never seen any double-blind tests that suggests it does. pseudomonas clings to the petri dish agar medium and will not get on your body unless you do something very silly.

one way of diagnosing bacterial infections is by smell. for example, if you put your nose next to an agar plate where haemophilus influenzae is growing, you get a very characteristic smell. there are other smells. i have never heard of any microbiologist contracting an infection doing this.

too much snowflake stuff here. the most scary thing that happened to me was not dealing with the bacteria, but the reagents and stains we used. i was making up some gram stain (basically iodine and NaOH in solution) when i added the water to the two solids - result steam explosion (because NaOH + H2O is exothermic) in my face. my thought was "shit, you have blinded yourself" but luckily there was an eye-wash bottle and a sink next to me, so my eyes survived. why i did this i have no idea, as i had been taught from the age of 15 to always add solids to water.

anyway, so bugger bacteria - chemicals (and steam, electricity etc.) much more dangerous.
In general I agree that banking sector is definitely not strongly in my circle of competence, but on my only long-term bank I'm in I've made 100+% ROI within a couple of years. That could certainly be luck. To give advise on what I should do investing seems a bit premature with no more information -- even on banking stocks.

I did make a mistake in previous comment and used the word assets instead of Total Equity. The same principle applies -- FDIC will sell their assets, likely at a discount.

Depending on the discount of those assets will determine how much total equity they have. Currently, their assets over liabilities is large, so there would have to be significant underselling of assets.

My original thesis made it clear I was talking about 40% discount on their equity, I didn't make it clear in the subsequent thread.

I.e. if bought at the last price ($40) their assets priced them in some range between $150-220/share (if they were sold off). So they would have to have a significant discount to their assets in the last 2 months since they reported to lose that much.

In my book and using Graham's term, I was valuing this as a cigar-butt company.
There was no explicit need or requirement for SVB to buy MBS at 1% yield, yes. Poor management handling too much money.

They also could have hedged the interest rate risk. Likely there will be policy change as a result of this. Banks over some AUM requiring stricter regulations

The Fed is complicit in encouraging moral hazard through distortion of the bond market. Pretty much every crisis in the modern era is precipitated by fed policy from years earlier
form 8-k itself seems to say 4 days or less: https://www.sec.gov/about/forms/form8-k.pdf
It's not uncommon for a conglomerate of startups under 1 banner to sell each other services (favor) hence increasing the odd of success.
Happy to share! I ended up working for an ISP at 16 so I could have T1 access and free ISDN at home. I was lucky the scene provided motivation to teach myself Linux and sysadmin stuff, which is where my career ended up going at the time.