skysight-inc/HackerNews huggingface dataset:
> Most people don't ever consider that money in their bank could disappear for no reason.

The $250k FDIC account limit was really well known, so I'd expect someone in the CxO ranks to have it properly managed in a 100 person startup. CFO maybe?

Several people have mentioned over the last few days that spreading $$$ across a bunch of ($250k limit) accounts at banks is a service offered by third parties, to address this very risk.

Wonder what the cost of using such a service would have been, and how many SVB customers were using it?

Anyway, with the current US regulatory approach of "oh shit, lets cover all deposits anyway" I wonder if those services have a future...

> It's not the 1920s.

Is that a good thing or bad thing? :)
>> Next you should tell me they should worry about "the big one" hitting Silicon Valley

The big one as well as this banking debacle should both be on your radar, yes. You are in this for the money. You have money but you want to increase the amount by orders of magnitudes. So you gamble.

You gamble on lots of things so that you spread the risk. Gamble gamble gamble.

Hey, you know what? I sat on three different poker tables this evening. Lost all. I'd like my money back. Now, please.
That’s 68 billions of parameters. It probably does not fit on ram. Though If you encode each parameter using one byte, you would need 68GB RAM which you could get on workstations at this point.
wow...imagine being a shareholder of Signature Bank or SVB and surviving 2007-2009 , surviving Covid , only to fail in 2022 because of inflation?
While I'm glad that no depositors will lose even a single dollar, can anyone justify how banks and the astonishingly rich continually take large, greedy risks only to be bailed out when they fail? I can't imagine the twists of logic it would take to accomplish that.

So, the government presumably creates money to cover, inflates the supply and the tax payer pays for the bailout and also gets punished with inflation. Say what you want about this being good for the depositors but it can't be sustainable. At some point, people and corporations need to be held accountable, monetarily, , suffer the consequences of their actions and be allowed to fail.

[edit] It seems that it's not a "full bailout" as shareholders won't be made whole but if the assets don't cover all the deposits, where is that money coming from?
Celebrity is religion: How Andy Warhol kickstarted our obsession with superstars
Hey Garry, did YC advise its startups about prudent management of their treasury? How come so many of them had more than $250k in their checking accounts? Do you think you could have advised them better?
Despite its power, ChatGPT is known for producing short sentences and hallucinations, so I challenged it to generate uninterrupted, run-on (aka stream of consciousness) stories that are +400-word-long to test its limits. The result was a series of stories about an IT professional who immigrated from Middle East to the EU and then to the US and founded a successful startup. This series showcases ChatGPT's strength in generating compelling narratives without errors or repetitive phrases, disproving any negative rumors about its weaknesses. You can check the Mdeium post in which I've described the process of writing this series.
> The official also said the steps didn’t constitute a bailout, as equity and bondholders of SVB and Signature would be wiped out.

Tell me you didn't read the article without telling me you didn't read the article.
First Transient Electronic Bandage Speeds Healing by 30 Percent
Okay, so it is exactly what I thought it might be - essentially triggering MIDI events with a signal frequencies from a set of ECG sensors. It's been done with other arbitrary things such as fractals and scans of planetary images as the input triggers, too.

Aside: A shockingly high number of people don't seem to notice that those haunting planet sounds we get treated to occasionally, are actually scans of images processed row by row (or column by column) to produce a string of numbers, that are then mapped exactly this same way.

Having said that, as you can tell from the play list, since assigning notes force it all to be in key, plus adding lots of echo and whatnot, you can produce some really interesting soundscapes.

It is a bit of a mirage though. The waves exist, but the mappings to their peaks are man-made. You could (and should!) map to a harmonic minor scale to get some amazing Eastern sounding music out of it. In the second playlist, you can see they've added a lot more control than the usual apps of this sort.

I consider most of this to be an interesting experiment in a different type of pseudo-randomness than we usually deal with on computers. And this one has a nice wooden package to go with it.
Yup. And so all the bank failures in the 1930s made sure that no one made the mistake again.
When maia arson crimew's site got linked here, she put a notice on top of her airline database hacking article with some disparaging commentaries about HN. Sure it may be a bit harsh for some people but she has got a point. This place is not immune to groupthink but in fact may actually be worse than forums with more diverse topics.
If we are so fearful of this, and banks are so core to the economy, why not just have government owned banks then, since it seems like government has to subsidize mismanagement.
https://archive.is/YNMqv
I mean, this is true of all computing? My phone works rather well, and then I see all of the crap family adds to their phone. Then I'm shocked it works.

Same for computers at large. Let parents or kids install whatever, and expect woes.

Emacs can feel worse, in this regard; but, I for one love how open it is to extend. Literally a defun and you've extended it.
I’m waiting for the other shoe to drop.

There’s no way they do something like this and it have no effect on the taxpayer.

Nothing is free.
I've been a student of housing bubbles for a long time. I remember back in 2003 I was participating in an online forum covering the bubble. The conventional wisdom back then was that when the bubble popped not even the Fed or Alan Greenspan and his helicopters could cover the losses. The hundreds of billions if not trillions of dollars that would be needed would cause runaway inflation.

Then, they did it. The bastards managed to somehow buy tens of billions of mortgage backed securities every month for years. They bailed out automakers and banks with backdoor 0% loans while claiming the "investments" were profitable for the average citizen. Zombie Fannie and Freddie are still out there gobbling up mortgages. It's insane.
>You can bet they would retaliate, simply because the game theory aspect of all this implies there needs to be a severe cost associated with damaging US infrastructure.

It doesn't necessarily imply that that IFF Starlink is providing military assistance to Ukraine, and in response, Russia targets Starlink satellites, that the US will necessarily escalate further. And there is precedence for this. For example, after US assassinated Soleimani, and Iran retaliated against an American base in Iraq (leading to ~100 casualties - though no deaths, and extensive damage to the base itself), America did not further escalate.
SVB collapse highlights $620B hole lurking in banks’ balance sheets
Do 99% of people have more than the $250k in their account?

Of those who do, I wonder what percentage would be worried about that risk?

Maybe more than 50%? 75%? 80%?
The load bearing statements seem to be these:

> Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.

To me, this one sounds like "we'll cover even the uninsured amounts and make all banks pay for it"?

> Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.

This one sounds like it may mean "we'll print money so no bank goes bankrupt"?
A dollar in ten years is not the same currency as a dollar today. It’s absurd to say that there is “no cost” to holding bonds that pay 1% interest for years when you can now buy bonds that pay multiple times that.
Start at David Sacks and Bill Ackman twitter accounts. Add some Jason Calacanis and baby you’ve got a stew going.

Hurry I’m sure they are deleting as we speak.

https://twitter.com/BillAckman/status/1634564398919368704

https://twitter.com/DavidSacks/status/1634382260433719298

https://twitter.com/Jason/status/1634792355294515200

> @Jason

>YOU SHOULD BE ABSOLUTELY TERRIFIED RIGHT NOW — THAT IS THE PROPER REACTION TO A BANK RUN & CONTAGION

>@POTUS
&
@SecYellen
MUST GET ON TV TOMORROW AND GUARANTEE ALL DEPOSITS UP TO $10M OR THIS WILL SPIRAL INTO CHAOS

This is one of the most irresponsible things I’ve ever seen tweeted. It’s the equivalent of screaming fire in a crowded theater.
That paragraph of mine and most of my posts could stand some editing, I am terrible at editing on a screen and my casual use tends to be comma heavy. I think your edits wonderfully highlight an issue I believe I brought up in one of my posts in this thread, trying to "fix" things by changing the punctuation rarely works and restructuring the sentence(s) is almost always a better path.

>All of which I hope goes to show that these choices are a matter of taste, not absolute rules

Throughout this exchange I have avoided calling these rules and used convention instead, and that is what punctuation use is. Conventions are easy to break but you should have a good reason to do so if you want something to be readable and you must be consistent in your choices. I have tried to emphasize this throughout and I have repeated it many times, consistency of use is what really matters, punctuation marks are pretty much sign posts for the reader and as long as they remain consistent in their use and are well formed than most readers will have no issues figuring out any use.

Imagine if a town decided one day that they could save some money on removing a no longer needed stop sign by simply agreeing that it is not a stop sign, it is a small town and they can just pass the word that the stop sign on third is now a 30mph sign. This works quite well and save some money so now the town continues with this and starts changing the meaning of other signs. It is not difficult to see why this would be troublesome, eventually people will get confused and no one from out of town will have a clue. Thankfully our governments are consistent with their signs and a stop sign is a stop sign.
Wall St Journal editorial board begs to disagree: https://archive.ph/9zBUq
Worse, it is also a lie that the cost will not be paid by taxpayer. Of course it will be - the remaining banks are going to pass the cost on via fees, higher loan rates and lower deposit rates?

Yellen is not clueless. She knows exactly how this will play out but as it will be spread over time and to many counterparts she simply does not care.

This is terrible moral hazard. Uninsured depositors should have taken whatever haircut would result after the auction. That is, after all, the meaning of uninsured.
Agreed, I‘m a big fan of the all in podcast but this really showed them (especially Sacks) from their worst side. They clearly pressured the regulators by saying that everyone who has more than the amount insured by the FDIC in their account at a regional bank is stupid and reckless if they don‘t transfer it to one of the top four banks on Monday. The situation at SVB seemed very manageable but even a small chance of this „mind virus“ spreading would be so devastating that they decided to backstop the situation.
If you have to pay more taxes because of this, it’s a bailout.
No. Every bank does not impose the same risk.
Free Market Fantasies: Capitalism in the Real World (1996)
Huge opportunity tomorrow to buy if you are able to actually find them.
Regulators seize Signature Bank in third-largest US bank failure
well, solar roofs? not really. Depends on your definition of scale...

I guess i should had said the 'energy line'. Tesla produces a number of products including charging infrastructure, solar (Roof, and panels), and has a very large fab capability there.
Dude, a depositor provides funds. Might get them back with interest, or not.

Thats not the definition of a customer, thats the definition of an investor.

The fact that it is supposed to be a low risk low return investment does not change that fundamental relation.
The Reason Silicon Valley Bank Collapsed
Error is the easiest and most common government excuse for inexcusable malice. Which means that people shouldn't allow for that excuse in the context of grand scale failures like 2008, 2003, etc.
Something about the "python syntax and semantics" claim seemed familiar. Lots of discussion here https://news.ycombinator.com/item?id=33908576.

Wasn't python back then, probably isn't now. Just something that looks similar.
And most of the feasible scenarios in which banks start collapsing so quickly and widely that depositors end up with barely anything left bar the FDIC insurance are scenarios in which the economic outlook is so grim your startup that's relying on rapid growth and further funding to survive isn't going to make it anyway.

Admittedly, picking a startup as a bank increases that risk somewhat, but so does picking a startup to provide your CRM system or web platform or other mission critical stuff that's a lot more likely to be shut down with minimal warning, or indeed choosing to raise funding from a VC that wants you to 20x or bust...
I guess you're pretty surprised then. Not going to be taxpayer money though.
That's Tailscale finding the nearest DERP relay, measuring timings to different locations.
As an addendum if the function only needs the keys I would possibly just have the parameter be a string[] that expected the user to call object.Keys to pass to.

That way the function isn't asking for parameters it doesn't really care about.

Though I do get the appeal of having the function call object.Keys if it's called frequently so as not to have to sprinkle that call everywhere.
The US is not the frontier anymore.

The last 3 years have proven that people who still want a shot at winning in the roulette of wealth , they'd have to move to a developing country.

The Western World obsession with prioritizing stability over everything else is just making sure that the rich will stay rich forever and every roulette spin which doesn't end up in double zero gets void in the name of stability.
> Except people that owned T-Bills that they bought through SVB also lost access to their money.

I don't think that's the case, though I may be wrong and would appreciate correction if so. Anyone who held T-Bills at SVB as a broker should have been able to transfer them to another broker at no loss (but at a small delay), and the remaining $250k in their checking account should have been available within one business day.
hmm, i saw somewhere that svb had some 37000 depositors

there's no relevant limit to the amount of money in a bitcoin transaction, so this could have been one transaction with 37000 outputs, or 37000 transactions one output, or 370 transactions with 100 outputs, or whatever

the latest block in the bitcoin blockchain is block 780'537 https://www.blockchain.com/explorer/blocks/btc/780537 containing 1788 transactions, totaling 4489.31 bitcoin, which is currently about 98 million dollars; the block weighs 1847 kilobytes

most of these transactions had 2 outputs, though many had more (7, 8, 9, 20) and a few had only 1. if we estimate this block as containing 3700 outputs we wouldn't be far wrong. in that case it would take 10 blocks (a little under two hours) to process all 37000 withdrawals

processing 200 billion dollars of transactions at the rate that money was being transferred in this block would take 2000 blocks, almost two weeks, because the average transaction size in this block was much smaller than svb's average account size; this is still less than a decade

consider transaction a400f39693ab997c162156a09599557b26c7a6d1efa711c49f4ccf5b12505b66 https://btcscan.org/tx/a400f39693ab997c162156a09599557b26c7a... with 21 outputs. this transaction is 837 bytes, so it's a little smaller than average for this block despite its large number of outputs; an 1837-kilobyte block consisting only of such transactions would contain 2206 transactions, paying out to 46326 different addresses

so in fact the bitcoin blockchain could have processed all of svb's withdrawals in a single block

the price of bitcoin would have to go up quite a bit for that to happen; bitcoin's market cap is currently only 389 billion dollars, so this one piddly bank would have been more than half of it, and transferring such a large amount of bitcoin around at once would likely freak people out enough to blow the whole system up

but there's no technical reason in the bitcoin blockchain that dissolving such a bank would be impossible or even difficult

there have been any number of bank runs in bitcoin already, unfortunately
Where did the money for the fund is coming from?

Even if its coming from other banks, it means they have to increase fees somewhere.
Generalizing millions of people makes you an actual asshole.

Kindly leave, this place is not for you.
> advanced innovation by tricking people into ordering food from existing restaurants on fake websites?

Just want to point out that what you are describing is called a "ghost kitchen", and it’s a bizarre and terrible idea that never made any sense in the restaurant environment, because the existing storefront could barely keep up with the original orders, let alone having to use a separate menu with different ingredients and preparation style to keep pace with to-go orders. Whoever it was that came up with this idea really needs to take a step back and see how disastrous the idea has been for retail food establishments.
Brilliant. I’m someone who has lofi playing most of the day at work or at home in the calmer times. I use an old JBL Bluetooth speaker that i found on the side of the road. Must be 10 years old. It distorts a bit at 75% volume which I like. The whole thing sounds lofi and beaten up.

I loaded this site and it just naturally fit in. I got Hawaii airport. I just felt like I was in the tower. The music was just how I was playing but now I’ve got beautiful lofi air controller audio. Thank you very much
A lot of people employed by tech companies are paid by their companies to contribute to open source projects which the company uses, so the gift economy is still deeply tied with capitalism despite the appearance.
Now, back to building!
One could argue that SVB depositors would not be expecting the be made whole if it weren't for the bailouts of 2008. The precedent has been set and reinforced. It's hard to argue that this will not encourage more risk taking and moral hazard.
You don't have to pay more taxes because of this.
I think the key thing to question in your response is "sounds more like evidience ..." . How we intend to convey something is a byproduct of who we are at a particular moment in time, as is someone interpreting something is a byproduct of who they are at a particular moment in time. If you were to include gender to be one of the factors in the byproduct of who someone is at a particular moment in time, I would think my considered responses is more likely helpful then anything else unless their is something I'm not considering, because (1) you are acknowledging their hurt, and (2) you are conveying that was not your intentions. You can classify this scenario as a misunderstanding. People in general won't cohesively work well together until they recognize and change the way they handle these misunderstanding.
> I don't know what you find unpleasant about async.

He literally said what he found unpleasant about async. Which is the most common thing async novices find unpleasant.
Yes, this and his Solana pump (and dump?) really showed his true face to a point where I have to start questioning his qualities as a capital allocator
Use macOS Guest Mode, and do your work in the cloud, within the (Safari) browser. There are no files stored locally, and the browser history is cleared at the end of the session.
Government already has quasi-unlimited tracking and control over your transactions through banks. $10,000 deposits are reported. Suspicious activity on anything over $5,000 is reported. These are small sums of money from the perspective of a government. They're easily small enough that any individual who tries to step out of the lower class easily gets under the eyes of government.
David Sacks spent the weekend advocating for the exact action that Janet Yellen just took. What's the problem with that?
Show HN: Subaligner – A multilingual subtitle generator
Subaligner has gone beyond subtitle synchronisation by starting to transcribe audiovisual content using LLMs and generate near-production quality subtitles in a range of languages and formats (subaligner -m transcribe ...). More LLMs continually advancing over time will be made available after evaluation so pls stay tuned. What’s next after Whisper, Kaldi?
These bailouts are very good for me in the short run, as I'm exposed to USDC, but they teach the wrong lessons, by redistributing the cost of a lack of depositor due diligence, to the general public.

This will only encourage more high-risking banking practices - by both the banks and their customers - in the long run. Regulatory regimentation is a poor substitute for meaningful market consequences.
> they no longer deserve credit for taking risks and doing something new

What on earth. Putting money in the bank was never a risk founders were lauded for, nor should it be on the titanic list of things they have to worry about.

We can brawl in the peanut gallery over FDIC limits and precedents and moral hazard (which lies with the banks, btw) but at the end of the day there can only be one “best country to start a startup” and whatever that is, it’s definitionally one where you don’t have to worry about getting rugged by the bank because someone you wouldn’t know from Adam made a bad bond trade.
The music currently playing (Kurt Stewart x Lomme – Window Seat) takes me back to this video https://youtu.be/6KRZEZTTcWk?t=555 , from the cockpit of a SWISS flight (Shanghai to Zürich) flying over Kazahkstan ("Middle East" seems to be a mistranslation)
Mark Cuban is a standup guy. Can speak from personal experience.

Rest of your comment, I mostly agree with though.
no, they aren't at risk that their deposits will evaporate because they were late to the bank run any more
> You are doing part one. Is part two occurring?

Valid feedback. I even thought of adding it myself, because implied stuff isn’t obvious. I felt it worth communicating because there’s value in what’s implied that isn’t available in the type system. To the extent I have team members consuming the same code, I would definitely communicate the intent. To the extent I have reviewers who read the code, I do discuss it.

To the extent this is in a type parameter position, the onus is on the person writing the function signature and… well if they don’t want a footgun, they have every opportunity to not gun their foot. But that’s entirely opt in by the time they’ve reached that point.
That last part is often forgotten. I usually stick with defaults (or as close as I reasonably can) not because they are functionally better but because for most things I don't have the return on learning and regularly using two instances of ${tool} isn't worth the extra time. Sometimes it's a pain but it seems to pay off.
The anger is coming from citizens who are being asked to bail you out when they are already stretched to their financial limits and any such idea will surely make inflation go up.

Sorry to hear about your situation I really am. I'm personally in the camp that we as a collective country have made bad fiscal choices knowingly or unknowingly. It's time to start paying for these choices and stop looking to others else we drown in these bad choices.