skysight-inc/HackerNews huggingface dataset:
Seems unlikely 70% of companies were able to get their assets out. I guess its 70% of deposits so.... maybe?

If there were assets on the books left, the gov't could purchase them at face value and just hold to maturity.
8% represents, what, a month of runway for most startups? That’s not an extinction level event, it’s a stubbed toe.
So they didn't require the deposits earning 2% to be in term CDs like sane banks and credit unions do?
> A 10Y T-Bill purchased on the first trading day of 2021 is now worth less than $0.80 on the dollar

Just one note for those that aren't fully aware, the treasuries were only down approx 20% because they were forced to sell before the 10yr maturity. If they could have held the entire term they would get back 100%.
for reference I tried or here: https://lite.koboldai.net/

with chat mode, and parameters: temp 0.62, top_p 0.9, repetition penalty 1.08

is free to try, but then you have to wait in queue, therefore I had to wait 10min per response and I didn't had patience to test it further
Some firms will make extremely low buyout offers knowing that at least a few businesses will have no choice but to take a massive unknown haircut or go bankrupt.
Sometimes defectors are unreliable. Other times, defectors provide reliable information which people choose to dismiss or ignore because it doesn't fit with their presuppositions.
> There’s no shortage of land out there that can’t be used for agriculture. The American southwest...

Maybe not in the US, but in more populated parts of the world there very much is a shortage of land of any kind.
Scaling how often I have failures on my 80 servers, of which 50 are similar in spec to Ahrefs (16 HDDs), it should still be less than one full-time position to manage 850 servers. Probably much less, as I'm a bit inefficient when it's <5% of my job.

I have a fixed day or two each year working out what to buy and getting quotes (which would be the same time whether it's 20 or 200 servers), half a day per 20 servers for installation in racks, and call it half a day per 20 for initial configuration (most of the time to script the process, so it would also be similar for 200). After that, it's at absolute most an hour every couple of months to deal with a failed disc or similar.
If your business isn't B2B, then any customers that you have are almost certainly fully FDIC insured.

And even if you're B2B, if you're 999th in line and your customers are 1000th in line, you're even more screwed. If you're first in line you at least have some remaining assets even if you have no customers. If your assets evaporate at the same time as your customer base then you have nothing.
Had similar struggles as well. Then after few experiments with plain paper (tried A4, B6, A5 - all landscape), I switched to Midori Paper Pad, carrying it in a leather pouch. Using A5 on the go and A4 on my desk. All in landscape orientation, like slides. My output is mostly diagrams/schemas and tables, very little prose.

Advantages so far: high quality per that works with fountain pen. No fear of ruining whole notebook with an ugly note or a drawing. I can carry only sheets that are relevant to the problem I am solving right now. I can lay out the sheets in front of me to get a bigger picture. I can throw away the bad ones. It is easier to scan (using iPhone scan to PDF function).

https://md.midori-japan.co.jp/en/products/mdpaper-pad/
Run meaning run inference, not train, right?
If you fire people hastily but then are forced to ask them to come back because you discovered they were actually key personnel, that speaks to incompetence. The speed of Twitter's layoffs were completely under the control of Musk. There was no crisis or external factor that made them cut people so quickly.

Mistakes certainly can happen, but they're much more likely to happy when things are done chaotically without proper planning.
Don't see how anyone could view the feds actions in the last few years and conclude that they had this as their mandate
Internal corporate claims are claims by the corporation against officers and shareholders with regard to their duties to the corporation.

It does not apply to claims by employees against the corporation under foreign state wage and hour laws, nor could it.
Hypercard Presentation – Dallas (1987)
https://www.theverge.com/2023/3/3/23623927/twitter-blue-ad-r...
Yeah. We're not an SVB client nor are we in Silicon Valley, but we're already auditing our accounts payable and client lists. It's likely we aren't screwed, but our contract accountant who told us to start doing this kind of bookkeeping said some of his other clients have massive counterparty exposure to this bank failure.
He might be a huge goober but ethnic slurs are still against hn policy.
Another bank will commit to meeting 100% of investor deposits, take ownership of all SVB's assets, and provide liquidity to shore up any depositor concerns. Why would they do this? They get to acquire SVB insanely cheap (basically just the cost of covering the losses), get loads of new now-happy customers, and be hailed as a hero.
I don’t think that the FBI recommending that Twitter look into posts that both break Twitter rules and were suspected of being generated by foreign operatives counts as illegal collusion.

I also don’t think Twitter was the deciding factor in Biden winning, and the election certainly wasn’t rigged.
Once in 1991 I left some cooked rice in a pot in the kitchen. The next day, it was covered with a bright violet slime. I don't know what it was, but I still remember it vividly (as the colour was).
It is if you keep it all in cash, ignoring the FDIC limits. Every single bank can suffer a run, its your responsibility to be able to survive it.
The key phrase here is "when the market is unsteady or inactive". Apparently this can be used to save banks, but not until there is trouble in the market.
Why wouldn't they just resign as a director in that case?
I'm not a lawyer, but how does the "for purposes of commercial advantage or private financial gain" apply to this guy, when he apparently didn't make any money from that?
Previous thread on Aug 8, 2015

https://news.ycombinator.com/item?id=10027893

Notable comments:

> Your downside risk remains the same (lose loaned money), but your upside gains increase substantially (interest vs interest+acquisition/ipo income). Thus the risk becomes more tolerable.

> The warrants are stock options - free to be given. SVB is not paying for them. It increases their potential upside beyond the interest rate. Across a portfolio it makes up for defaults.
Hitchhiker’s Guide to the Galaxy is one of his favorite books. The 420 is a reference to “42”being the answer to the meaning of life. Nothing to do with weed.
Show HN: ChatGPT in Telegram with roles, search, images and voice
Hello, my name is Denis

@talkgptbot

ChatGPT in Telegram with character roles (girlfriend, toxic, drunkard, coder, etc), input as a voice message (Google speech-to-text), synthesis based on search engine SerpAPI results for factoid questions + image generation with StableDiffusion. You can switch between modes for different use cases, for example, use search always or be a programmer.

Please share the feedback!

We started a month ago and made it with GPT3.5 + DeepL for translation, now we don't use translation at all as seems Turbo is cheaper and translate quite well.
That wouldn't be the weed number tho.
Normally, yes. But in this case isn't it the upcoming payroll that's the problem? That work has already been done by employees, so the wage is already on the books. If they can't come up with the money, they'll have unpaid wages no matter how many people they fire. Right?
Bank of America couldn't care less about our XX million/year revenues. Literally wouldn't take even basic requests for services. We moved to Keybank who has a much better rep with small businesses, and service (and pricing) has been orders of magnitude better.

I'm assuming a similar thing was going on with SVB vs. other large banks.
You can't use your intuition about stock prices for bonds/fixed income. In FI, its all a numbers game. As rates go up, prices go down.
lol It was, but it was 1337 for the time being!

Yeah we had FXP hosts on most of the east coast universities. Those were the days of just having fun. Ironically it's the knowledge and experiences of being in the scene that quasi got me into working for the government and those letters agencies. I was fortunate that the only real trouble I caused was met with education and support rather than a harsh response. If I was born 5 years later with the slow deployment of ZERO tolerance policies I would have been screwed.

I still give back though, I have a few racked servers that are out there sharing torrents (all legal data), and run a bunch of crawlers for archive.org etc. It's as close as I can get these days to the olden days.
I'm quite sure that businesses that got their cash out of SVB yesterday, and can thus make payroll today, are extremely glad they did so.

Not all bank runs are systemic in nature.
Columbo was unusual in that it aired much less frequently than once a week so the formulaic nature wasn’t a problem.

Today I sometimes enjoy watching off-brand OTA channels such as Comet and Charge and will tune in from time to time and get reintroduced to shows like Quantum Leap, Farscape, and Sliders and sometimes I will get into an appointment viewing habit but I am just as likely to by a box set or otherwise switch on on demand viewing. Columbo plays well in that world but who knows how long it will last.
> Anybody with the financial means to walk away because payroll has been missed is someone with the financial means to ride out a few weeks waiting to be paid.

I agree with the rest of your comment, but not the implication of this sentence. Riding out not getting payed is extremely risky with very low to no reward. Those that could ride it out are much better off quitting and making use of their time for interviewing - or anything but working for free.
Not many universities have billion dollar endowments.
Even if SVB maintains their deposits, that IS a liquidity issue, it just isn't a solvency issue.
FWIW, ironically and counter intuitively, "the right to be forgotten" achievement is unlocked with the combo of RealID (or equiv) and "translucent database" techniques.

(Over simplifying: just like properly salted and hashed password files. Lose the password and you cannot retrieve the encrypted data.)

Using your essay as a starting point, I'll start pondering what a future "right to be remembered" system might look like. Both technically and legally.
I don't know, that seems to be the apolitical reading of the situation. Is there something specific you object to in that quote?

>guy that played himself into burning $44 billion

That seems unquestionable. Twitter wasn't worth that price when he actually took control or he wouldn't have tried so hard to get out of the deal. It is impossible to put an accurate value on Twitter today, but it seems obvious that its value has gone down even further under Musk's leadership.

>a website that makes no money

Maybe hyperbolic depending on your definition of "makes no money", but it hasn't turned a profit in years so it is fair to categorize it as "a website that makes no money".

>just so he could force all its users to read his shitposts

Maybe you object to the "just" there and he had other reasons to make the purchase, but this general accusation seems true[1]. He is at least partially motivated by vanity and getting other people to read his weird jokes.

[1] - https://www.theverge.com/2023/2/14/23600358/elon-musk-tweets...
Convertible debt instruments have become significantly more popular over the last few years.
Twitter actually had some profitable years lately and in the last 5 years before Musk bought it they recorded a net profit. Revenue had been grown 60% over that time.

But now with Twitter reportedly losing 40% of its advertisers and taking on $1 billion of annual debt servicing costs, it seems unlikely they'll be able to get back to profitable if things keep going this way.
...will we see this followed up with "mistakes I made as a manager, but had to become an executive to see"? ;)
Loads of organizations have been running core infrastructure from donations for decades now. If you don't need to write new code, and don't have a pressure to actually turn a profit, and have people with enough investment in the community to donate time doing moderation / sysadmin tasks, then it should be easy to get enough donations to keep a server up and running.

In any case, one of the core functionalities of most federated software is the ability to migrate your profile somewhere else.
Soup with beef in it is relatively common in the two places I've lived - UK and Czech Republic. Couple of very common examples of "beef soup" from each:

https://www.bbcgoodfood.com/recipes/oxtail-soup

https://www.daringgourmet.com/traditional-scotch-broth/

https://www.angusfarm.cz/recepty/hovezi-vyvar-698/

http://www.pradobroty.cz/2019/03/gulasova-polevka.html

I think what the saucier in your quote[0] was upset about was cooking good quality meat very badly, not the idea that meat generally could be used in soup :)

[0] - for those who don't know, it's this scene: https://www.youtube.com/watch?v=YbFvAaO9j8M
So between the tech angle and the housing-related investment vehicles, are we remixing 2000 with 2008 now?
Fronting risky shit or not, on the whole, SVB's depositors would have been better off if every one of them had calmed down and done nothing right now. I would certainly understand if depositors would then build a measured plan to diversify their deposits over the next year or so, but while SVB certainly caused lack of faith, the reaction to that was what caused SVB to fail.

So ok, we've "punished" SVB's management's poor money-management practices, but in the process we've also punished a lot of companies who had millions of dollars but now only have $250k (with uncertain future access to some portion of the remainder).

Good job! Stick it to those SVB execs! Talk about cutting off your nose to spite your face... or I guess cutting off the noses of others...
This chimes. I've stopped watching tv series altogether now unless it's an old one that has already finished and someone has vouched for it to me.

A story should have a beginning and a middle and an end but modern tv shows are either a beginning and a short middle and then nothing, or a beginning and long meandering middle and then highly unsatisfactory end as they try and fail to tidy up all of their loose threads.

Now that I've given up on series and streaming is so fragmented I've downgraded and gone back to physical media. It's nice to be able to just buy a movie and watch it again.
Thank you! Why is the main link a giant screenshot?
Where my ADHD crew at? This shit is easy. It's getting started on things and not procrastinating that's hard.
Same, I only use the key when something forces me to, cause I trust TOTP authentication apps even less. (I don't mean trusting that nobody hacks it, I mean trusting that I don't get locked out.)
I'd imagine a significant majority of mass-produced lettuce is grown with some sort of shading to prevent bolting.
By that metric, and it took quite a bit longer to get there than ideal. It's also still elevated historically and compared to FFR, all of which is a roundabout way of saying that inflation has and continues to destabilize the outlook. Stability historically comes after an n-month lag of the FFR and core inflation meeting, right? Well, banks are failing now, and 4Q24 is a ways off.

I just don't know if I'd call it a "pretty good job," is all. They were caught-off guard and didn't move quickly enough.
Article without the ad-wall: https://news.yahoo.com/nord-stream-mystery-tanker-minerva-17...
How sweet of you, Brian.

I pledge to not take out another loan.
I may have worded it better. Provocation is not the best tool.

My point is that there is already a "forbidden-word" list that everyone can easily agree with - which include things such as racial/discriminatory slurs. Then why is it such a stretch to understand that some words actually do hurt people? (I mean I know why - it involves conscious mental work, and human brain is optimised for shortcuts.)

One might be dissatisfied with some words in "the list", but what I see here is the rejection of the very idea that such lists have value. People who are affected by those words should ultimately be the deciders on the usage of those words, not people who have privilege.

While it may feel like it's "only something", it's still better than what was before - namely, nothing.
This sounds like "0 code". No code is the best code because it never breaks, has 0 serve space requirements, will never need to be reformatted, etc.
Fascinating! How do you sign your kernel every time you recompile it? Do you need to store a new key into the UEFI every time?
Not sure I understand why GDPR has anything to do with domain _registration_ (not hosting).
The exemption should still be allowed, as it led to great banking innovations for startups.

The exemptees just need to be fucking careful with this advanced mode of operation.
Self inflicted wounds this time, though. There is nothing wrong with a bank purchasing 80bln of MBS with their depositors money. The issue becomes when the fed suddenly raises rates faster than any time in their history while still failing to fight inflation (which is a result of having a stronger economy).
Not just alfalfa, but crops where what's eaten is the stems, leaves and other parts of the plant more than the fruits/seeds. Leafy greens, some root vegetables both starchy and wet, asparagus, some brassicas, etc. Not nearly as broad a list as full sun, but I'm also sure there are a lot of things being grown in southern California now that needed a lot of breeding to deal with as much sun as they get there.
Gotta love the monday morning quarterbacking. "Get rid of the thing that attracts all your customers, surely then there will never be a bank run."
> Downside: this also means bank is going to be less profitable.

What are the downsides to society if banks are less profitable? They invested in T-Bills, I don't see how that investment served society in any way.
The especially funny thing to me is that some VCs were telling their portfolio companies to get their money out of SVP first thing this morning. So Sacks is a VC asking for a bailout on a bank run triggered by VCs. Cry me a river.

It's nice that he took time from his busy schedule decimating Twitter to share his views. But in my opinion VCs can't simultaneously claim to be such financial geniuses that they deserve lower taxes (via the carried interest loophole) but such babes in the woods that they need Uncle Sam to bail them out for a bad financial decision. Pick a lane, buddy.
mind you the alternave is far worse.

Having unstable prices for staple goods will lead to unrest very, very quickly, which in term results in a downturn in the econonmy, which in term leads to even more unstable prices and thus more unrest.
That's a nonsensical statement. Slavery, feudalism, and neoliberal states all attempt to produce as efficiently as possible, but they're obviously quite different...
That's not a delusion.

Specifically, the mechanism by which customer support is communicating with customers on social networks provides a lot of value to the customers because companies cannot gaslight individual customers. This works a lot better than even if you had a lawyer on your side, willing to work for you w/o compensation because the company might just hire a better lawyer.

I've literally been in this situation before: I had intermittent connection problems and had to call ISP to look into the cabling. Once the technician finally came, he found that a squatter took over the entrance to the breaker room on the roof, so he could no longer get access to the switch the company installed there. Because he wasn't able to do anything w/o police intervening and breaking into squatter's illegal construction, he just left... I still had no Internet connection, so I decided to terminate my subscription early.

Well, the ISP wouldn't have it. I had to jump through a lot of hoops, including closing and opening a bank account just to prevent the ISP from charging me for service they did not provide. I did it on principle, even though it would've been cheaper to just pay them few months. Come the end of my contract period, I get a summons to a court because the ISP hired a lawyer to go over cases like mine and try to intimidate individual customers into settling the arguments by paying the ISP (of course, by that time they tried to scare me with a fine that was about ten times the money I'd owe them on the contract).

So, I had to search for lawyer organization which volunteered to provide customer protection, but due to them being an NGO, they had a requirement that they would only provide their services if I could show that my yearly income was below X, which, unfortunately, it wasn't, and so I had to pay a lawyer from my own money to deal with this case. In the end, the ISP backed off, but nobody compensated me even for the lawyer I had to hire. Needless to say that it's not possible to compensate the time spent on this.

This was before social networks were popular enough to do this:

----

I had a very similar situation, which was simply due to me moving into another apartment which didn't have a coaxial outlet, so, I couldn't continue my contract with the ISP. They decided to pull the same trick. It was a single post on their Facebook page describing the situation that got me a phone call from their customer support department and my contract was terminated. Without charge.
Statements of facts are biased when they hurt the feelings of people who refuse to accept them.
Your username is both very ironic and apt in this particular case. Also, your analysis is spot on.
Seems super short sighted - there’s no real world benefit into forcing companies to spread their checking accounts over hundreds or thousands of banks. Also seems like a good way to ensure that all of the business concentrates with the biggest banks.

The only people doing anything risky were the executives at SVB, and they’re going to be wiped out completely. Its a terrible idea to punish depositors for the crime of leaving their funds in a checking account at one of the top 20 largest banks in the country.

I suspect we’ll see a “Fannie Mae” for checking accounts in the future and that seems like a good idea.
To me its "that chair creak" that often gets used for people siting down or getting out of chairs, also makes an appearance as the creak of a rusty gate hinge but to me it stands out as part of the soundbyte for exiting the Command Chair in the Goldsrc mod Natural Selection.
We Can Prevent Bank Runs by Marking to Market
It will be open Monday morning. Deposits are safe.
Flat USB-A security keys are nice. But I've yet to subject mine to the bus test.
Most security keys can’t act as GPG smart cards, other than Yubikeys. So I only buy Yubikeys.

An encryption, authentication and sign keg in a Yubikey is very useful.

Does anyone know if a Wireguard secret key could be transferred to Yubikey?
The case can certainly be made, but the independence of Tibet only took place because of the collapse of the Qing, both the PRC and the ROC had the intent to retake Tibet once the civil war was concluded.

One may say that Tibet is entitled to independence, but its annexation doesn’t represent some sort of aggressive territorial expansion beyond chinas historical borders.
I hope people go to prison over this injustice. Insurance companies probably added this mental health data to our shadow profiles.
Whoever chose the name clearly never heard about the opioids crisis..