skysight-inc/HackerNews huggingface dataset:
> I think the understanding issue is that all banks are basically insolvent by design

Banks are not balance sheet insolvent at all.

The problem is that their liabilities are deposits which are very short term and depositors can show up and demand money, while their assets are loan paper which is typically very long term.

They can become cash insolvent fairly quickly during a run, that doesn't mean that they are "insolvent by design" though.

> However, what caused the desire to get out is bad management at the bank and unrealized losses because the bank had a large portfolio of mortgage backed securities they weren't required to mark to market (thanks dumb regulators)

Rather the inverse. If they had been able to hold their securities to maturity then they would have been fine. The problem is that the drawdown in deposits forced them to sell securities and inherently mark them to market, which made them balance sheet insolvent.

If regulators forced them to market to market that would have just created more panic, that isn't really a solution.

What they needed was to stress test their portfolio back in 2021 when they were buying mortgages against a 6% federal funds rate, and avoid buying so much in order to not have so much interest rate exposure. In 2021 that would probably have been considered laughable.
This is a red herring though. Your company isn't losing 4.75 million. They're likely going to lose 0-10% of that.

The actual question is should tax payers give a company that has ~4.5 million in cash and is worth some multiple of that some free money? And that should be an emphatic no.
MiniLitelog: Easy Breezy SQLite Datalog
An eight pound bag of pinto beans costs $6.88 at my local Walmart and contains over 12,000 calories - that's six days of the 2k calorie diet! Lots of healthy grains like buckwheat and brown rice are available at similar price per calorie and they all require little effort beyond setting a timer for the unattended boiling. Add a couple cents for spices from the value store and a dollar or two for frozen veggies and you've got a meal going for the family!

I challenge you to find any junk food that comes even close to that kind of caloric density per dollar. The cheapest junk food has a tenth of the calories per dollar than a bag of rice from Costco (4-5k calories per dollar), at best.

The problem is that the cheap stuff takes a little effort to make tasty compared to the hyper-palatable junk food. The whole "junk food is cheaper than whole foods per calorie" is nonsense.
And one or both focuses on sales.
For the big SVB assets, the outcome of "holding the assets until maturity" is the price at which you can sell these assets; someone who intends to do that will buy these assets at a rate where they roughly break even - they're pretty much a commodity, so the auction price is close to the value.

But buying long-term assets at some small discount (e.g. 10%) and holding them to maturity would not make a profit - the nominal value of these assets + the interest on the (low!) fixed interest rate is far lower than the interest rate you can get elsewhere; if the difference between the interest rate that SVB had fixed and the current market rate is ~2% (which seems roughly in the ballbark) then a crude estimate is that the discount has to be 20%-ish if there's 10 years remaining until maturity and 40%-ish if there's 20 years remaining... so that's appropriately reflected in the (lowered) price those assets can fetch. The nominal value is irrelevant as future money is worth much less than current money.
The link I found undersells it, too. In some cases, the corporate veil can be pierced and executives can be made personally liable.
Emacs/GNU readline keybinding for jumping to the end of the line.
Semicolons are often better just replaced by periods. I sometimes use them but I've had at least one editor who refused to use them for news-oriented copy.
Rabies most probably evolved from a virus from plants so is very "alien" to animals. As long as can hide in their main host, it does not care about killing everybody else (if accidentally ends in the wrong place). This can be also and advantage and selected by evolution in some cases ("enemy of my host is my enemy" situations).
That was really good, thanks for sharing.
I wrote a wrapper around brscan and my brother printer with a feeder but no duplex scan or save to network folder capability to get double sided deskewed ocr'd pdfs into paperless-ngx with the touch of a physical scan to PC button.

I'm medical and a hobbyist, not technical, so I was happy to figure this out in bash with some trial and error. I scan the fronts, it gives me 15 seconds to put the backs in the way they came out and it deinterlaces after with deskew, ocr, etc. I used it to shred most of my filing cabinet and now scan bills/letters/receipts/etc. A cron job banks up paperless-ngx offsite using borg. For me it's just slick, my spouse uses it independently (!), and helped my bookkeeping a lot.
I guess I'm lucky then, in clear nights max I get is atmospheric haze. Other than that, from the living room window, the moon is crisp sharp. Despite living in a city of 300k odd people...
> I used AMEX via ANA transfer to get over $0.20/point value on a pair of business class tickets from West Coast US to Japan this last year.

Would you have paid anything close to the cash price though?

If not, the $0.20/point value seems to be more of an arbitrary number often abused by bloggers.
Sure, the monetary&banking system today is a corrupt clusterfuck that will inevitably collapse under the weight of all the unproductive debt that's built up. That's why I'm a bitcoiner.
1. The original commenter asked “how could someone come to believe otherwise?” My “pedantic argument” answered his question.

2. Note the article is about how BMI is a bad measure for many weight types and frequently miscategorizes risk (e.g., by underweighting risk to “normal” bmi folks with a high body fat %).

The argument that I’m trying to make is not to “checkmate bodyshamers”, it’s to show that bmi is overall a pretty bad measure to use to evaluate weight and health in individuals that include a variety of body types.

Fwiw, I’m not a fan of the “healthy at any weight” stance (that’s clearly BS), but I am definitely trying to show that commonly held beliefs about things like BMI even and especially in the medical community can be dangerous and irresponsible (just like the article explains).
Well, I don’t know about in general but I think this is the case for Emacs except maybe for some remote session use-cases.
It doesn't matter whether the bonds are sold now or held to maturity; the loss is exactly the same either way. For a simple example, let's say interest rates are independent of time to maturity and initially 2%, and we purchase a bond that pays $1000 in ten years. That will cost us 1000/(1.02^10) = $820.

After two years, that bond now has FMV of 1000/(1.02^8) = $853. But then interest rates increase to 4%, so its FMV drops to 1000/(1.04^8) = $731.

If we sold today at the FMV then we'd realize an $89 loss from our purchase price. That's neither better nor worse than holding to maturity, though--that's what makes it the FMV. In the case where we sell, we'd get $731 now, but we could reinvest it at 4%. After the remaining eight years, that would give us 731*(1.04^8) = $1000, exactly the same as if we'd held.

HTM accounting treats the two cases as different, but that's an arbitrary regulatory decision, untethered from any economic reality. It has no meaning outside that narrow compliance purpose. The SVB's decision to treat that accounting fiction as if it were economically meaningful appears to be a major part of how they blew themselves up.
Under your mattress. Protected by an armed guard. Split up among various banks. In treasury bonds. In the financial markets. In Bitcoin. Wherever you want.

It's not the taxpayer's burden to insure >250k worth of your cash in one location.
for HN, I guess replace "Instagram Face" with the Generic Landing Page or the Disruptive Elevator Pitch?
I like the trend of commands adding json output. Then you don't need to get a new shell just incrementally add other commands than can process json.
Sounds like he’s in the perfect position to know the fruits of such errors.
Related: Unfortunately, this tends to be a common fallback in many business when times are tough. My folks had to do this with their employees a few times when I was a kid. Other people in that industry had to too, from time to time.

As other commenters state, if you know that a boss does this for you, then you now know a good boss to have. Though, most bosses won't tell you they did it, obviously.
You should be able to recognize that a meat packing job and a grocery job are different in significant ways. These child labor law rollbacks are dangerous.

I say this as someone who also worked at 14.
Is not really designed for surviving outside. Very long filaments are fragile out of vascular systems.
You can Google it – on problems with Google's semantic search
Hardly a competition. If the best you can muster as an adult is what an unskilled kid can do, the game was over for you a long time ago and you lost.
Alternate headlines (based on Y Combinator's actual petition):

"Y Combinator urges stronger regulatory oversight and capital requirements for regional banks."

"Y Combinator urges investigations of any malfeasance or mismanagement by SVB executives."

https://www.ycombinator.com/blog/urgent-sign-the-petition-no...

The "act" they want Congress to make is just a "backstop" of depositors. The thing is, if SVB is bought by another bank, that happens without any action by Congress. (For what it's worth, Nancy Pelosi said today there are multiple potential buyers and "What we would hope to see by tomorrow morning is for some other bank to buy the bank.")

https://twitter.com/JohnGHendy/status/1634934773113290753?s=...
From a western perspective it looks worse but how does it look from a Chinese perspective?
Because the hypothetical acquirer would have not only their assets but also all their other products - loans, credit cards, all the established payments to/from their accounts, etc. which are harder to switch.
I wish more companies thought that way. It seems like most of them are just cargo culting Google's hiring methods with the expectation that it will turn them into the next Google.
Or start running ponzi schemes. Why not offer high rates to depositors even pay them out and join in with some of your own companies. And then when it inevitably comes crashing down have the tax payer bail it all out.
"sed 10q" is equivalent to "head"?
I think that sentiment is directed against a strawman that doesn’t really exist. The reality is that startups with “no real business” just fail after burning through investor cash and nobody gets anything.
That's where I was.

My startup has about $25k in SVB - but we don't have payroll and I have personal access to that without impacting me if push came to shove (paying contractors, etc). I was aware of the situation and probably could have gotten the funds out but I knew we were well below the FDIC threshold and just didn't want to bother with it (frankly). I would have had more anxiety executing the wire and waiting for it to show up on the other side...

Speaking personally I'm actually kind of curious to see what the FDIC process looks like - in the grand scheme of things it makes you part of a relatively small club! While I know people are suffering and the situation is a lot worse for many I'm actually looking forward to telling the story when appropriate.

The general population is already fascinated by startups and I've had more than a few "civilian" friends reach out to me asking about the SVB situation. When I tell them we're kind of impacted but not really they just kind of chalk it up to another "Wow, startup life is so wild even THE BANK failed".

Additionally I'd say the same - through various startups I've worked with SVB for over 15 years and the people have always been great (systems not so much).
I tried looking through the scenarios on the fed website - which one would have caught this specific issue?

https://www.federalreserve.gov/publications/dodd-frank-act-s...
Is there any reason why we should engage with an apartheid state?
Ask HN: Does a submission to HN trigger an archival run on the Internet Archive?
I just submitted a link I found interesting and 3 minutes later went to archive the page on the Internet Archive, only to be told, that it had been just archived 2 minutes ago.

This could be coincidence, but highly unlikely because of the page I submitted, but I had to test. So I picked the newest submissing from "new" and tried to archive it. And it also was already recently archived.

So, is HN itself triggering an archival process, is the Internet Archive monitoring new submissions, or is a third party involved?
But where does it stop? When I lent my friend $100 dollars when we were 16 and he never paid me back, should I have been bailed out too? If not, why not? If the government bails out people/businesses every time something goes wrong there will be a lot more risky investments.
> any boring consumer laptop

> enough RAM

Because boring consumer laptops are of course known for their copious amounts of expandable RAM and not for having one socket fitted with the minimum amount possible.
This is just speculative discussion from my own experiences, but I appreciate that the metaprogramming constructs are restricted to operate on pure functions, vs attempting to handle things like (e.g.) Python data declarations, or syntactical transformations.

For one, it's not clear to me that you should attempt to have 1 system which handles both syntax-level expansion (macros) and function transformation (what this system, and JAX, does) -- unless you're writing a Lisp. That's not Python -- so I'm sort of glad that these systems don't try to handle the former, and instead make a nice go at the latter.

The restriction to code which is "pure" (where pure is restricted to a definition which makes sense for these array languages) is also nice from a program transformation perspective. Otherwise, authors of transformations must reason about effects, etc. JAX has started to include utilities to help with this sort of reasoning for custom (read: user-defined) primitives.
Because it’s a heck of a lot easier to do nothing and complain about people who do “try hard”.
Without Electron (or electronalikes), very few of the (extremely useful to me) mainstream commercial apps would be available for the Linux desktop. Before Electron, indeed, they weren't.

That said, although I haven't tried Tabby so have a slightly open mind on that particular case, terminals seem like the wrong use for web tech. There's no shortage of native terminals on any platform.
>If I don’t buy homeowners insurance and some arsonist burns down my house, I’m out $100k to rebuild. Is it punishing me if the government doesn’t bail me out? The government isn’t punishing me, the arsonist punished me.

The distinction here is that in this metaphor, the bank managers are both the homeowner and the arsonist.
Elon Musk loses cool with ex-Twitter employee
> Because child labor in most cases amounts to slavery.

Yes, that is bad. But, what else do you propose?

Everyone is against child labour, but many kids in the 3rd world don't have better alternatives: if they don't work, they starve. Is that better than child labour?

[I understand the article and most of the discussion is about the US, of course the US is a rich country and could easily take care of the kids without slave labour]
Wow I was struggling with this exact problem earlier today. I scraped a list of all css color names into a union so I could get them in my autocomplete, but also wanted to allow any valid css color without having to make template literals for every possible valid color string.

Stealing this!! Thanks for sharing!
Yep, pretty much that thread.

Massively simplified models exist, and yeah - we have artificial neutral networks FAR larger than that and they run just fine. But they're so over-simplified that it's fair to call them something else entirely, not a simulation. You can use them to create similar behavior, but they're just following the basic concept of a brain, not how they actually work. Inspired by a real thing, not actually mimicking a real thing.

Kinda like how a door hinge is not your knee, even though they both bend. It's not a knee simulation, it's just something that bends. For some things (doors) that's perfectly fine, and there are billions of them in use. You can't transparently replace your knee with one though, it has biology-juice all over it and needs to handle very different behaviors at times.
There are genetic risk factors for developing alcoholism. That's not the same as being hereditary. You're born at risk for alcoholism, not born an alcoholic.

But either way - I don't actually think that alcoholics are bad people. I think that they have an addiction and would benefit from access to resources that help with that. If they want to drink til they die, I'm not going to shame them for that.
You're right, SpaceX never paid for them. They just said they did:

https://www.washingtonpost.com/politics/2022/04/08/us-quietl...

Everything else is true, though.
Some contracts are even getting a 14th one. 13th is fairly common in Italy and it’s usually bundled together with your December one.
If you didn't go through the comments, this one is interesting imo:

someone took a handheld picture of the moon with S21 using GCAM instead of the default app and the results are also quite awesome:

https://imgur.com/a/jf1Cbqu
1. get a job

2. buy a house

3. pay it off

4. buy another house

5. live off the rent

That's how you actually do it.
Ok, for one strange and legal are different axes, and companies are only constrained by what is legal. They have no reservations about the strange.

Secondly, what a person or company thinks should happen bears no actual relation to what actually does happen. Why should we start giving credit to misconceptions? This is on par with someone arguing that it's ok to distribute copyrighted property for free because no one made any money on it and when confronted with the legal reality that the courts don't care, pleading, "but thats the way it should just work."

Sorry, but that's doesn't reflect the reality of the terms of the banking arrangement. Excesses of 250k are not insured.

There's a lot of things I think should just work, but using that as a justification is beyond logic.
And Ford was a civilian operator until they needed to build heavy machinery for WWII.

Wartime is different.
https://archive.ph/6OLLv
There may be coalitions of smaller banks being formed, where they agree to submit a single bid, and then internally split up the carcass into the parts they each want should they win.

I haven't seen the terms of the FDIC auction but I suspect it's winner take all, so any coalition will also need a plan how to split up or share the undesirable pieces.
> It might be efficient for the FDIC to require complex and expensive financial engineering just to keep operating capital safe, but it’s hostile to businesses

The FDIC exists to protect against a general collapse of banking like the one that preceded the Great Depression, not as a generalized subsidy to business.
> The majority of your argument revolves around the idea that only rich people in this “rotten system” will be affected, or that this is an important lesson.

I think the main issue is that the status quo is that more often than not such classes never learn any lessons, so people are cheering on any hurt they receive, no matter who else gets in the way. Discontent is such a state that people are becoming, as they say, Jokerfied.
I'm not sure those "thousands of companies" described will take a loss.

The situation Mark Cuban talks about works like this: most small/medium companies finance themselves with a bank loan (and equity). The bank loan is reviewed periodically (e.g. annually), and renewed appropriately. The loan is used to pay employees, suppliers, and for other expenses. The amount of the loan, is held at the same bank. It doesn't need to be strictly speaking, but a bank does not like to advance you a loan, so you can take it, cash it and deposit it at a different bank.

Ok, so now a company has a loan (asset for the bank, liability for the company) and a deposit (liability for the bank, asset for the company). The amounts don't match perfectly, due to ongoing payments and receipts.

Now, there's something called "netting agreement". The Fed has a short intro on that [1]. I don't know if every single company has one set up, but going forward they should think hard if they decide to not set it up.

If you have such a netting agreement and the bank fails to pay you on the deposit, then the amount you owe them on the loan decreases dollar for dollar. Of course, it's still inconvenient for you in terms of day to day operations, but in the end you should not lose money. You should not have any issues to start banking with a different bank, if you can show them the netting agreement.

[1] https://www.newyorkfed.org/medialibrary/microsites/fmlg/file...
iTerm has this feature https://www.karam.io/blog/2018/turning-i-term-in-to-a-quake-...
They get to charge 3% and 30 cents for a fifth of all web purchases made on the entire damn planet?
`save` seems to be a general serialization command, which lets you save Nu objects in formats like JSON, YAML, and others. The `--raw` option seems like a convenience for enabling that tee-like usage without relying on external programs, but the driving use case is serializing structured data rather than unstructured text or byte streams.
Thanks for your contributions. I've been pondering the same thing. You've saved me a lot of effort.

> Yeah, two major activities of the Federal Reserve are “saying what it will do with interest rates in the next few years” and “changing interest rates”, it’s really bizarre that they can’t get these two to even remotely line up.

True, but it wasn't just the Federal Reserve. I live in Australia. It was exactly the same story here: https://www.afr.com/markets/equity-markets/why-the-rba-and-e...

What I didn't realise is the Reserve Banks also operate in "hard mode" when it comes to economic predictions, just as the VC's did in this bank run:

https://www.abc.net.au/news/2023-03-12/imf-how-we-missed-the...

So you can put this down to SVB operated on the best available advice, butt the best available advice was wrong. Well that, and their customer base was a bunch of lemmings.
I’m personally fine with US gov backstopping depositors (but leaving equity unbacked) for the specific case of SVB, but the ultimate question remains: if the US government insures unsecured deposits over $250k (even if no practical risk with long term assets on balance sheet as collateral), doesn’t this in effect create a precedent of no upper limit to FDIC insurance moving forward? So now taxpayers are on the hook for all bank deposits (thus, creating potential for more reckless behavior by regional bank CEO/CFO/CIOs). Isn’t that somewhat dangerous?
no? in what way?
For a guy with a private jet, Sacks has the worldliness of someone who has never had a passport. As soon as the conversation ventures outside the USA he makes basic factual errors but delivers it with all the confident bluster we have come to expect from VCs.
Seems like a less-asinine take on the ideas underlying PowerShell. Neat!
https://endoflife.date/python ?