skysight-inc/HackerNews huggingface dataset:
> "Are you suggesting tens of thousands of small business customers need to do due dilligence on the investment practices of their banks?"

Golly, some of us even chose non-banks, and use local credit unions. There are millions of us!
How is this the government's fault, unless you want to talk about tighter regulations? From a libertarian perspective, you deposit money at a bank, they make you sign documents about the well-known FDIC insurance limits (a bonus insurance offered by the government), and you make the free choice to mitigate whatever risks you think you have based on that 250K vs whatever you plan to deposit.

It's essentially a business choosing to underinsure themselves.
Let's say I buy a USB-C dock made by Sabrent or Anker.

Are there good reasons to believe they're safe, that the brands are trustworthy?

Are there good reasons to believe that the brand name that's printed on the case means it's actually made by that company?

How could anyone determine if it contains a keylogger, or an HDMI screen grabber, or a network sniffer, or a reverse shell, or a rootkit installer?
What are good uses of DDR2 and their ilk? As new DDR gens come and go, there never seems to be any discussion on what to do with the old RAM, which is perfectly good.

Elsewhere in the thread is a mention of gigabyte ramdisk, but what would be really interesting is a second bank you could have on a PCI card that could hold 8 sticks of RAM, and that RAM is considered lower-priority by the OS (use only if the main RAM is getting a bit constrained, or say "use this with the web browser".

But I doubt such features exist even in the Linux kernel.
Cards I have seen LLaMA run on in 8bit and 4bit include: RTX 1660, RTX 2060, AMD 5700xt, RTX 3050, RTX 3060, AMD 6900xt, RTX 2060 12GB, RTX 3060 12GB, RTX 3080, P5000, RTX A2000, RTX 3080 20GB, RTX A4500, RTX A5000, RTX 3090, RTX 4090, RTX 6000, Tesla V100, A100 40GB, A40, RTX A6000, RTX 8000, Titan Ada

Mostly using https://github.com/oobabooga/text-generation-webui/, the AUTOMATIC1111 of textgen.
Can you explain to me what the "risky investments" were here that SVB partook in?
Jim Cramer makes $5 million a year picking bad stocks.
Yes, I agree. But note that the same logic applies to human beings too. Just because people say they are using chain-of-thought or tools to come to a certain conclusion, doesn't necessarily mean they are. Philosophers have been grappling with this issue for many centuries :-)
> Are you suggesting tens of thousands of small business customers need to do due dilligence on the investment practices of their banks?

Honestly yes. All it takes is one financial analyst's time. I do it with my retirement plan for example, and I'm only a "small business" of one family. If there was demand for such info, I'm sure there would be a small community/industry for evaluating bank books like there is for financial planners (if that might not even be something a financial planner could already do).

And particularly with Y Combinator advising so many companies, I think it's on the side of negligence that they didn't evaluate the bank they were steering their companies towards. They were steering them there because they knew that tended to be the only bank that would deal with their high-risk companies - and it's too hard to believe that professional VCs didn't recognize that such a bank could have a lot of risk in some dark corner to compensate.
Well, yes. This page is probably talking about the bank formerly known as SVB; now known as DINB of Santa Clara.
If YC thinks this comment section is bad, they're really going to LOVE congress.
How are structs in Rust any different than classes?
I think the parent commentator would reject that you need to pick between need-based and merit scholarships. I have no idea how it would impact spend and whether it would be sustainable or not to provide full-need & merit scholarship.
There is a risk in using a bank. The risk should be low and it's normal to assume your money is safe in the bank. This incident proves it's not. The tax payer didn't take on this risk so why should they have to cover the losses?
I wish people would distinguish between "SVB does not deserve a bailout" as in "let it fail" vs as in "wipe out the shareholders and bond holders, but, sure, bail out the depositors"
Nah, SSDs are going down nicely in price. You can get 1TB of TLC for less than $50.
Mechanical aircraft weight and balance computer using whippletrees
If you have 3 billion deposits, why not have let's say 3 different accounts with billion each? They don't cost that much money. And then even if one bank has system failure preventing transactions, you could have two others working. Or even some reasonable amount like one with each top 10 in users. With some amount of money in each allowing customers even better interaction.
Thank you I do understand that.

Maybe, just maybe, instead of us collectively trying to manage the latest collapse, perhaps we could impose actual requirements (not regulations) on banks. There have been 562 bank collapses since 2001. I doubt that many people who work outside of finance would think the balance sheets of those banks look like anything like what people would expect in a stable "bank".

It's insane that very few banks in the country can reasonably withstand bank runs. The reason? They have no money on hand, because they are gambling. Sure, the ecosystem would change, but that's not a bad thing.
> Better interest rates?

You betcha.

Here's the rates for March 2021. 3M would have gotten you 0.05% APY, while 10Y gets you 1.45% APY.

https://home.treasury.gov/resource-center/data-chart-center/...
My eyes
Is your goal to eliminate risk, or to mitigate it?

If they had deposited that 3B in, say two banks rather than one, they'd have 1.5B in that other bank
Yes! Printer LEDs have been used for espionage (like visual morse code), and firmware has been hacked to store copies, there is a documentary about this somewhere on the web (havent found it yet). Brilliant ideas!
> save it in a format that won't store layers or undo history or something

For eliminating such risk, just screenshot your censored content and use that image.
Thank you. Also search the web for posts on "prompt engineering," to get a sense of how people are using LLMs today. It's pretty eye-opening.
My point is mostly that the article implies Apple, Microsoft and Linux (or at least Linus) agree on using the term arm64, but the agreement doesn't seem to be too deep given that uname reports different values.

Btw in updating a Docker image to support multi-arch, I sometimes had to download binaries named with arm64 in the name, and sometimes with aarch64 in the name. But the previous version had the same issue with amd64 vs x86_64, so it's not a new issue.
Not sure I'm getting it. The big return on investment that VCs get is justified by the big risk, isn't it? So why shouldn't we as a society say, "you risked big, and this time you lost big"?
Yeah but does anyone actually get proscribed it?

TBH I do wonder if Desoxyn would actually make a MUCH better ADHD treatment given it lasts in the body close to 2x longer than standard amph.
There seems to be an underlying assumption that direct flights will be available to the meeting city from all the locations. This is not particularly realistic for long distance meetings, and for shorter distances, why not use rail?

In my case, I used Shanghai, San Francisco, and Zurich. The suggested location was Fairbanks, AK, which for the Zurich & Shanghai based team members would mean a 24 hour, two stop flight. I think we'll pass.

Adding London to the equation shifts the meeting point to… Tromsø, Norway, which demonstrates the absurdity of the geographical micro-optimization perfectly. Picking Stockholm or Oslo in the same neighborhood would have saved literally every participant a stop on their itinerary.
Yes but they got screwed by incompetence at their bank. Why should the tax payer get screwed instead?
The situation is that the depositors will eventually get some money. And that should be good enough. If they were so stupid they put all of their money in single bank account they deserve to fail.
Out of interest, most buildings I've worked in have had drop ceilings for HVAC and false floors - why cant they just put new plumbing and electrical in either false floor or ceiling?
To me at least, being human-focused and sensitive enough to be a novelist is contrary to being a web personality selling questionable financial advice... If the research is actually valuable, shouldn't your advice to the novelist be to exploit it directly?
They use SFTP now.
I can’t pinpoint the exact moment when TED talks disappeared from my feeds, but it must have been a few years now. And if we look at the TOP-10 TED talks of all time, we can see that all of them fall into the 2006-2014 timeframe. Google Trends, a great source for lazy journalists and bloggers, shows that interest in the subject peaked around 2013-2015 and has been declining ever since

It's called 'jumping the shark', and for me I knew it was over when David Brooks got a ted talk.
It absolutely IS burdening the taxpayer-- he just doesn't want to say it

"Regulatory backstop" sounds a lot better than "tax grandma to make sure out portfolio companies don't lose a penny of their deposits on this"
I am not saying what should and shouldn't be done - your points about it being unequal between men and women is totally valid. I am simply saying that pretending that this isn't coercive labor is so silly - apple clearly wins out here in terms of benefits, and they are couching it in an equality argument when , in reality, their bottom line and labor allocation is all that matters to them.
Previously Qantas’s offerings for Europe were flights where you’d do Sydney to Dubai (15hrs) then Dubai to London (8 hours). Sometimes it was Singapore instead of Dubai. Their offerings for America were Sydney to Texas (17 hours) then Texas to New York (4 hours).

I’ve taken dozens of their previous Sydney to New York offerings. The 17-hour flight seemed okay for most people. I think they would handle 20 or 21 hours equally well. Not having to change flights is definitely a draw, the article worries that only businesspeople will pay the premium but I think most travelers will want to pay as well.
Whatever investments they made that are now sour enough to not cash out to pay their depositors. Yeah, that's a bit circular, but I think that's how it works. There's some risk in every investment, or so my 401(K) plans tell me every quarter.
I flagged the submission, as it was titled “Urgent: Sign This Petition Now”.

And fuck that, if I’m being blunt.
This seems like a distinction without a difference with regards to a "bailout". The definition I found on Google for bailout is is "an act of giving financial assistance to a failing business or economy to save it from collapse." Which seems to be the ask.

So the depositors are made whole. The companies survive and are able to provide an ROI to investors. And maybe we'll get a committee to discuss the possibility of one day creating legislation to prevent this problem in the future (until SVB 2.0 lobbies against said regulation once the risk of it happening is at hand).
How much liquid cash does YC have? - to float to these founders until they know the extent of losses they will have to incur as part of the FDIC process?

Edit: grammar
The free markets will resolve this I'm sure
Deposits don't need to have interest paid. It's entirely possible for the money to simply sit there and not be invested in anything.
extremely ignorant take
What's weird is that you can insure an account for more than that, it's just not free.

So if you had "substantially more" than that, you should be financially savvy enough to insure your accounts and pay for the insurance on them as a cost of doing business.

That's why we insure anything - in case something happens.
Banks use some of those deposits to make loans to private parties. This is, on the whole, beneficial to society so we want it to continue.

You do not want the government, which is supervised by politicians, picking who gets loans.
React was a great idea; the problem was they did it in JavaScript instead of a pure, functional language. There's too many footguns where JS features like mutability and async code can leak through, leading to a whole class of errors that could have been caught by a compiler but instead were left as cognitive load imposed on developers.
do you understand the difference between a taxpayer and a shareholder?
That sounds like your generic is not extended release but an immediate release version, which sound like different medications overall. Maybe split the dose in half and take the second half 4 hours later which is what they usually do when people are taking immediate release? Whoever your doctor is should understand this dynamic...
Yeah, it sounded like a perfect plan if no customers wanted to get their funds within the next 10 years. ¯\_(ツ)_/¯
(Hm guess I was wrong)
Privatize profits, socialize losses.
Been a while since I've seen the trickle down economics argument
Its the FDIC's job to wargame the "what if" scenario, if things get worse. (Even if there's no evidence in that direction yet).
If you stipulate the risk of concentration away, I agree that groupthink is fine here, but I think you shouldn’t stipulate that away.

Also, I’d really say that founders probably weren’t the ideal people to be thinking about this risk, VCs were. If you advise a portfolio of companies, you’re better positioned to think about broad risks.
https://libcom.org
Circle moved assets out of somewhere and into BNY Mellon last week. Where is that somewhere (Was it SVB, since 3.3Bn “remain” in SVB?). When did they move money out of SVB and how much?

Did Circle and USDC trigger the sudden liquidity gap in SVP that triggered the fire sale of 21B at a loss? Is the crypto panic triggering the bank runs?

“Last week, we took action to reduce bank risk and deposited $5.4bn with BNY Mellon, one of the largest and most stable financial institutions in the world, known for the strength of their balance sheet and as a custodian.

$3.3bn of USDC’s cash reserves remain with SVB. As of Thursday, we had initiated transfers of these funds to other banking partners. ”
SV no longer has any moral authority about "disruption", "innovation", or any other buzzword. The entire industry should be allowed to burn to the ground so genuine growth can follow.
I don't think you can determine much, without looking into the actual device somehow, and being also knowledgeable to make sense of what you see.

Even with trusted brands, a malicious actor can attack the vendor. For example, one could order devices, tamper with them, and then send them back via returns. The vendor likely tests it a bit, and then repackages it and sells it as refurbished, or maybe even as a new one.

The fun thing is that the same is true with software. Looking at a source code is hard enough, even for experienced programmers, and then how do you verify a piece of software that you don't even have the source code to? And if you have the code, how do you verify that the software is made out of that code?

People basically just operate on trust, you can't verify much of the stuff. Just try to stick to entities with reputation, and hope for the best.
Many of these rich are running businesses which employed poorer salaried people like us. Not saving us directly in 2008 is ok as back them we are minority. Not saving these businesses will trigger a Lehman Brothers contagion collapse which means a lot of people like us will be out of job...meaning a lot of us have to restart our careers like 2008. Furthermore, these time it will impact higher paying jobs in techs. The lost of 1 tech worker can easily destroy 5 to 10 walmart workers level jobs. They buy less gadgets, groceries and vacations which poorer people seldom do as much as these tech workers (I have yet seeing walmart "associate" buying tesla but seen more than 200+ tech workers own one at least in the last 10 years. Guess what will happen after the collapse? China will take over. These lost tech workers will work remotely for others divulging tons of IP knowledge (I know this full well because this is essentially what my 3 companies actively engage in).
I'm not sure if you're aware of the amount of text used to train these large language models, but in that context, yes it is miniscule.
It would cost less than $50 of compute to finetune an existing open source LLM to do the job for another $50 of computer. OpenAI's APIs are incredibly expensive compared to powerful open source LLMs which run on very accessible hardware.

As one data point, LLaMA-13B beats GPT-3 175B in benchmarks, runs on a single 8GB VRAM consumer GPU, and takes only 24GB of VRAM to fine tune. (Though this particular model can't be used for commercial purposes.)
> when does the government benefit us?

literally all the time, the entire country is shaped around the benefit of corporate interests and capitalism
I love that this got flagged on HN itself.
I wouldn’t get too aggravated, there’s 0 chance of a bailout.
> To me at least, being human-focused and sensitive enough to be a novelist is contrary to being a web personality selling questionable financial advice

These 2 things are completely unrelated; and btw, lots of people have done completely unrelated things and been successful at both of them. Einstein was a patent clerk. Samuel Clemens/Mark Twain was a scientist. TS Eliot a banker, ACDoyle a doctor. And who said you need to be a web personality? And why is the financial advice questionable?

> If the research is actually valuable, shouldn't your advice to the novelist be to exploit it directly?

No. Doubling your money at 100k invested is worth 200k. Doubling your money at 100M invested is 200M. Who is more likely to pay $100/mo for good stock research? The percentage is the same, the absolute value is massively different. And someone with 200M doesn't have time to sit around leafing through 10Qs, but they do have to time to read your executive summary analysis, particularly if you do well and get a name for yourself.
There are other banks with similar long term treasury holding problems vs liabilities and assets on hand. Not the real big guys like Chase and co, but banks in size to SVB. First Republic and Signature Bank are going to be clenching their buttholes next week as they are set to experience a bit of a bankrun too.

Basically, look at the stock market, any bank that is now hit with a >50% decline in share price like those 2 named above is because people noticed the problem.
Remember when Primary reserve broke the buck and got unwound? That was over a smaller deviation than this.
In a decade, these models will be baked into a SOC.
I like how you explained that in the note. But my question stands. What do I get for bailing out those 37,000 small business holders?

It also seems odd that all 37k didn’t insure against bank collapse. That seems like systemic risk that they all took on.

I’m sure DC is aware of this problem. The issue is what to do.

It seems more fair to request that the government invest in these companies and in exchange for government cash, equity is given out. Or something of value. Otherwise it seems like the taxpayer is just covering the losses of lots of small business owners choosing to save money by taking on too much risk.
It's hard to have any realistic basis for trust, absent maybe independent review. Even then companies have been known to significantly adjust components for the same SKU after the review cycle ends.

For Anker in particular, sadly there may be a reason _not_ to trust them. See the recent Anker-owned Eufy cloud camera scandel
Some of the other large regional banks also have a very large proportion of deposits above the FDIC insurance limits, and are also sitting on hold-to-maturity portfolios which can't be liquidated to satisfy a large deposit outflow without incurring losses which would wipe out the banks' equity.
Yes, I was aware. I don’t think there’s a moral imperative to help us, necessarily. I would only ask that tech depositors not be treated differently due to the schadenfreude I see in this thread.

Consider companies small enough to have no one whose job it is to do finance. As a founder you’re already working long hours and bank failure is not a risk that is top of mind compared to lack of product market fit.
> "regardless if it was over the insured limit"

Sorry, dude, this is flat-out wrong. Please go find out what happened to depositors over the FDIC limits at IndyMac and Silver State, just a few years ago.
> I would have thought this could easily be avoided by only ordering from authorised sellers.

If only. Search for Amazon commingling. There's no way for you to know which seller's box gets sent to you.
> The creators of USDC could destroy their own coins to restore the 1:1 reserve peg.

This is already what happens with redemptions, which as per OP should resume on Monday.
He was implying that depositors should be treated in a specific way because of the assumptions he makes about who they are.
Doesn't the above comment say they only support Yubikeys after 2FA has been set up with a smart phone?
But that's the question I'm asking; what specific investment did they make that went "sour"? I can't find one when I look, that's not what I'm reading happened at all but I'm open to the idea that I'm missing something.
They also bundle a separate CPU inside the real CPU, and gave it full access over the system.

https://en.wikipedia.org/wiki/Intel_Management_Engine
https://en.wikipedia.org/wiki/AMD_Platform_Security_Processo...
Requirements aren't the only way to steer someone to a product. Google pays Apple billions to be the default search engine on iOS.

Nor does the lack of a requirement indemnify someone from responsibility.
Elon Musk says he's 'open to the idea' of buying Silicon Valley Bank
Well i guess this proves that Godwin's law was alive and well pre internet.

However, fair is fair - that was more secretive than i was aware, although i would still say that quebec was actively participating in the negotiations up to that point.
Snake-oil salesmen have always existed in one form or another.

OOP was pushed very strongly in the 90s, for example, and people promising to create massive increases in productivity by providing consulting services for "OOP-ifying" code probably made plenty of $$$ off that fad.
Very cool newsletter! I’ve been jamming for about 8 years off and on and have released a couple projects.

All electronic and mostly atmospheric/progressive house stuff

https://open.spotify.com/album/4fRsoTQpl0rvvaBZ7vNhsk
I am also wondering this. The capital definitely exists to do it. Perhaps it is even being asked for, but out of public view.
So i was going through a pretty significant time owing to being gaslit by my manager who had convinced me that I was hurting people by taking on leadership roles because I was "crowding other people out and not giving them a chance to succeed"... Noting that my job is as a Snr Product Manager... So "leading" is kinda part of the gig, but I'd been convinced I was hurting people every time I suggested a change or improvement to what we were building etc.

Psychologist i went to was trying to get me to adopt a stance of "radical acceptance"... Which he described as basically "accepting that the world is a flawed place, and that there's actually nothing within your power to change it...".

Which... Apparently... For some people... Makes them feel better?

Needless to say that telling someone like me "hey man, the world's just fucked, but it's OK coz there's FUNDAMENTALLY nothing you can do to fix it... So you don't need to feel bad for just coasting along and not achieving anything..." Didn't help... At all... Actually just made me want to kill myself.
The Intel Neural Compute Stick is like this. It's a USB stick intended to power computer vision and other ML tasks. It's pretty tiny though and isn't nearly as powerful as a graphics card.