skysight-inc/HackerNews huggingface dataset:
>Because one wants to have private in person communication

So, like, if you Zoom'ed?
Now this is a strange bank
its useless. the appeal process will take years in tribunal and cost money. no one will do it. just like with the hotlines
Swaps do indeed transfer that risk to other parties, at a premium because those other parties are more able to absorb the risk. While, sure, there are systematic stresses across the whole financial system, it doesn't mean that there aren't counterparties more capable of managing interest rate risk and willing to do so for a fee. This can be done by just having a larger balance sheet, or blending durations.

Seems like SVB wasn't willing to pay the premium, though.
No doubt he was collecting on SUBs
What about "the bill" associated with not having affordable housing, and people being forced to either pay for overpriced units, or having to live 1 hour from work?
Good luck suing me if I resized your photo to 1x1 resolution and posted it on my website. That's how little info is extracted from each image on average.
Answering myself, JPmorgan at least says SVB's asset mix was different: https://am.jpmorgan.com/content/dam/jpm-am-aem/global/en/ins...
Treasury Sec. Janet Yellen says US Government won’t bail out Silicon Valley Bank
>It is frightening to me people don't seem to understand this. It's absolutely basic money management.

It isn't frightening to me, because the trust people put into banks' reliability is a testament to the fundamental strength of the American financial system. I'd rather have that than the opposite, where everyone is hyper-sensitive about everything and even refuse to use banks at all.

That said, there is no excuse for Roku, for example, to have more than $400 million in uninsured funds at SVB. That is fundamental malpractice on the part of its corporate treasury, CFO, and management.
And another way was for VCs to step in and help saving their piggy bank.

There was an easy mechanism for that - simply purchase the shares SVB was offering.

But no, community that claims they are going to save the world couldn’t exercise enough long-term thinking to even save their piggy bank.

There should be no bailout by the Fed. This community has enough resources. If they can think long term and act together, they’ll reorganize themselves in a responsible way. If they can’t, then they deserve to fail financially and they’ll have less resources to control.
It should also be said that there wasn't one approach since it changed from week to week. It began very hands off with no restrictions about travelling to hot zones or even recommendations about face masks but morphed into banning all public gatherings of more than eight people.
Employees at SVB have roughly the same game theory decisions to stay or leave as depositors did. It costs nothing to leave right now and go work for a rival bank, but the last person out the door is going to have a very hard time… there are only a certain number of jobs / job opening for their roles so the FDIC did indeed offer a premium to keep them around.

https://www.forbes.com/sites/jackkelly/2023/03/11/some-silic...
Spotify's redesign isn't going down well
David Sacks on Yelen not bailing out SVB
One persists in your browser history and is easy to copy/paste into the wrong place, the other is not (good luck copying a password field without technical workarounds such as changing the field type in the developer tools).
Does anyone still care for the en-dash today outside of very formal literature?

It seems to be quasi dead and anyway often indistinguishable if not written side by side with a hyphen. Furthermore I would argue that if the meaning of your sentence is ambiguous if a hyphen instead of an en-dash is used you should reformulated it.
I don't think anyone is in danger of being confused by the imprecision.
Silicon Valley Bank - Frequently Asked Questions
Don’t get me started. I know I’m sounding like an incurable fanboy for Casey because I mention him in every comment, but it’s only because I am an incurable fanboy for him, his polemics about software being thousands of times slower than it should be these days strike a deep chord with me.

In one of his rants he goes to the effort of booting up a version of Visual Studio from 20 years ago, on a 20 year old machine, to demonstrate that it really truly was way faster back then than it is now: https://youtu.be/GC-0tCy4P1U at 36 minutes in.
> who'll be the depositors putting cash in the bank to be loaned

Loans create deposits, not the other way.
A woman cured with gene editing
israel is a tiny country. putting up absolute numbers is not serious.
> yet what do you actually suggest?

The status quo? That's implied by the conversation we're having, the existing system Vs. the new system.

> Perhaps you misread what I said above:

Didn't understand it the first time I read it, don't understand it now.
Loans are not made from deposits even now. But you may well be right that there are operational details that make my idea impossible, I don't know. HN seems to have some people with understanding of corporate finance, so hopefully they'll be able to educate me.
I saw the video of him calmly saying "you are an appalling idiot" twice to a student after the student said what he's doing is disgusting (thrice) [1]. Is there a video of him shouting it?

[1] https://twitter.com/chrisgeidner/status/1634791941350064128
The problem with whatever crop is getting exported is how much water is in it.

So a Californian farmer grows a watermelon that when ripe contains, say, 3 liters of water in it. If that watermelon is then sold to China, 3 liters of water have been removed from California. If it's instead sold in Fresno, then that water remains in the California system.
There hasn’t been a reason to be in Ally for at least the past year or so, they’ve been WAY behind other banks in raising their rates along with the Fed rate hikes. Tons of competitors are offering 4-5% now on savings, and short-term T-Bills and money market funds are also above 4%.
I think it's likely we will figure out how to make intelligence in silicon before we figure out how it works in brain matter.

Just as there's more than one way of generating electricity there may be many ways of generating thought.
> the urging to pull out doesn’t have to be fabricated, just hypothetical

Isn't any identification of a run risk hypothetical? I think the question is whether it was a reasonable concern or not. If it was a reasonable concern, then the run is simply rational behavior for an uncoordinated group. If it was not a reasonable concern, then the run was irrational and panic driven. My issue with it being an unreasonable concern is that I haven't seen anyone claim this explicitly or provide a rationale. If anyone has a rationale for how it was an unreasonable concern, I am interested..
Why isn't your life amazing? What are you missing? A partner? Professional success? What do you care about? Go after whatever that is.
Internet people are garbage, and HN is not special in this regard. This is because people are garbage.

People love tearing others down. This is the rule.
Great now every startup and every business needs to hire a CFO because a bank can't be trusted to store any number higher than $250k?

So if my nascent 5-person startup raises 1.2M your suggestion is I need to hire a CFO? That's going to help innovation?
The Problem with Trauma Culture
None. They want it all at no cost. Should greed be fullfilled this one time around, then it’s guaranteed to happen again in a different shape or form
As a European I must admit Schadenfreude over how these right-libertarian Silicon Valley tech bros are now begging for a bailout. Especially David Sacks who is more or less funding the entire political populist podcast sphere that is pushing a lot of pro-Russian/anti-Ukrainian propaganda.

>The Quiet Political Rise of David Sacks:

https://newrepublic.com/article/168125/david-sacks-elon-musk...
> 250k is not enough to make payroll

Plenty of firms will buy the uninsured deposit claims at a discount. Taking the haircut to make essential payments is worth avoiding disruption.
But I'm not trying to be convinced of that; that fact is self-evident.
that anecdote about a child asking question is a really impressively relevant point about AI
A model weight is the result of a human creative process, and in no way less an expression of an idea than a coded program. Creative choices are made in regards to training data and in writing and running the implementation.

Is the output of an ML model a creative work? I would argue that it also is. The real question, however, is whose work. Or rather, what proportion of the work was created by the original artists, and what proportion was created by the ML developers.

The questions at the heart of this is similar to the one society had about samples in music. I don't think anyone today would deny that sampling can be a legitimate creative process.
If the Wikipedia is right, he apparently wanted to prevent them from forming families - that'll make some enemies. "...While he was a judge on the Fifth Circuit, Duncan refused to identify a transgender defendant by their assumed name..." shows the heckling isn't exactly disccordant with his conduct as a judge.
Is there a similar article that we can get to chide people that use the double dot ellipsis (..)? It's not a thing, but I see it everywhere from casual conversation to business's websites. I despise it.
This is the correct take.

There are reports that, on a mark to market basis they were insolvent since September 2022.

It is very plausible that sooner or later we remove HTM accounting.
To the elite class of this country, Louisiana State University is nothing compared to Harvard/Yale/Stanford Law schools. Graduates of the latter schools, according to many, descend from high heavens, whereas people from state schools are those who can't make it to HYS.
Are you really suggesting they open up 20 different bank accounts? And not only pay the monthly account fees but also pay a bookkeeper to upload statements for all 20 banks into the accounting system? And have appropriate controls on all money movements? And float money between the accounts each time payroll or some large expense is run? And follow the financial results of all of those banks in order to find signs of weakness?

Id rather be in a world where businesses don’t have to spend so much time playing games with their bank accounts and just trust that their money is safe, which is why the fdic needs to guarantee the deposits.
A couple points from the article:

- Older buildings are both less attractive as commercial space and easier/better to convert to apartments because their footprint makes it easier to get natural light and windows typically open. (That "courtyard" they added to one of the newer buildings being converted seems like it will be a pretty partial solution especially for apartments on lower floors.)

- These conversions are expensive so the resulting apartments are on the luxury end so you're not going to have shared bathrooms or kitchens.
We live in a crazy world:

https://libcom.org/article/fiery-anniversary-special-review-...
OT:

The only thing I see when visiting the site is "An unexpected error has occurred.", despite transporting ~1.3MB of data and having all text content there in the ~5KB of initial html response... Why is web like this?! Why does it need to load highlight.js to show me the content of the page, especially since the code stuff is alrady in a <pre>?
How to Support Someone Who Is Struggling
Is there a site that collects pcaps?
Good points

> presumably marked to market

This is the key-- not sure if we really know what is marked to market at what isn't

> held the rest of the book to maturity

That's like 8 years? and a gain in nominal terms but to real terms ie inflation-adjusted since a 2031 dollar is worth less than a 2023 dollar
Because you don’t make depositors responsible for banks’ mismanagement unless you intend to create a depression.

Are you truly proposing that every time a bank fails we make everyone who kept money there take the hit?

A return to the 1920s, eh?
You didn’t “copy the recipe”

You copied the fixed representation of that recipe and reproduced it. Yes, we agree. That is copyright infringement. You do not have that right.

Edit: I see my use of “repost” was the hinging confusion. Yes, that isn’t right. You can “reproduce the recipe”. When I said repost I meant copy and paste the text.
It's because tech has become synonymous with woke
They might if they’re buying more than the assets (i.e. credibility of the whole sector), but the hole is probably too big for even JPM to take it alone. Maybe the top 4 split it between themselves?
It’s self interest pursuit at all costs.

It’s his and his followers core beliefs to always do everything out of self interest. Always.
I’d say generally the opposite is true. Most commercial software I’ve worked on typically contained only simple typing—discriminated unions are about as complex as it gets—and it’s more of a problem that people get lazy and start using “any” too much than they go overboard.

Where complex types can be a problem is when working with open source libraries, especially when the types are community-developed, separate to the library itself. The library API may not be particularly amenable to easy typing, and the community types can end up being rather confusing, especially to people who developed neither the types nor the original library.
> It's now in your interest to get your money out of any bank showing any weakness as early as possible.

Wouldn't it be the opposite? It would lead to there being no incentive to withdraw since you'd only have to give it back.
Caches. It is generally a good idea for a data intensive application to use as much RAM as is available for it. Better that than the RAM sitting unused
So anybody who raises money should put a max of 250k into any given bank? My CEO should spend his time managing 20 different bank accounts?

I just think that if we look at it from the big picture - what's best for the country/society/etc. - that we're collectively much better off if a business that puts its money into a decades-old, reputable financial institution can count on it being there the next week.

(Also I do feel like I should clarify that I'm using my company as a kind of general example... I have no idea where our money is stored and I'm on paternity leave at the moment so just going to hang out with my new kid and hope this all works out).
https://ghostarchive.org/archive/jlYao
The runes are mostly "just because", but there is a reason.

Ideally, I would have written:

type Nil = unique symbol

Which would ensure the Nil type wouldn't match with anything but itself. Unfortunately, the compiler doesn't allow unique symbol other than on const variables initialised with Symbol(). So I needed some meaningless symbols.

I could also have done

type Nil = "nil"

But then it would have looked like the string meant something.
20 hours to travel to the other side of the planet should be more than fast enough for anybody. Supersonic passenger flight isn't coming back, and your sense of entitlement is the stupid part. If you don't want to be on one airplane for 20 hours, then split your trip in two with a layover.
I keep screaming into the void that the real issue is the poor risk management of the bank, but nobody in the echo chambers wants to listen to anything other than VC conspiracy points
The fizzbuzz tensorflow must be one of the funnier posts ever.
The document is first broken up into chunks. When a user prompts, Unriddle finds the most relevant chunks and then feeds them into GPT-3.
At the risk of stating the obvious, she didn’t actually say anything that implies more than “the FDIC is doing its job” (helping depositors). There’s a lot being read into it that I don’t think is there.
> Depositors are consider investors in banks.

This is nowhere near the truth.

If it was, then actual shareholders would recover at least $250,000 from their investment. As it stands, shareholders are poised to recover pretty much nothing.
This needs to be sticked at top. It’s not that hard to build a Treasury ladder with three month bills. This is not complicated and you don’t need to be Warren Buffett to figure this out.
Yes. We're absolutely not interested in seeing the US government bail out banks yet again, especially not banks that just happened to get fucked by their "safe investment strategy". I really have no idea why you are surprised.
> In French the em-dash is almost inexistant; we use parenthesis instead usually.

French uses em-dashes ("tiret cadratin") or en-dashes ("tiret semi-cadratin") for dialogue. Like so:

– bonjour, dit-elle, comment allez vous?

– bonsoir, repondit-on. Ça va ça vient, et vous?

– bien
We seem to be programed to never enjoy such things. It's basically impossible.

But the GP's set are a possibility, and not certain at all. So it is worth pointing.
Bitcoin Private Key Finder
Crypto private key finder, To retrieve a bitcoin private key, the user may consider using a Bitcoin Private Key Finder, V1.2 Activated Version. These programs scan the blockchain for transactions associated with your wallet, looking for Leaked bitcoin private keys with balance
A list of pixel intensities and RGB values are only a creative work because they are a picture, it's the picture that's a creative work.

Lists of numbers as such are not generally copryightable in the USA.

Note that "facts" aren't copyrightable in the US, regardless of how much effort or money was spent assembling them. Neither are algorithms or procedures as such.
I would guess that FRB's loan portfolio is heavy on fixed rates. At least that's what the products they've sold looks like.
I don't think SVB going bust is generally a big problem for a foreign startups that banked there. This is because typically(?) they are structured so that their US subsidiary has account there, not the main company. And especially if the US subsidiary is on the red, the US accounts for the foreign startup pretty much hold enough cash to do next payroll.

What these Israeli startups appear to have done is something entirely different and I truly sympathize and feel sorry for them for all the money lost. One might even argue that 'no good deed goes unpunished'.
Unfortunately, this is a universal phenomenon. Bank runs are always blamed on the runners, not on those that precipitated the runs.

It's part of a general sliminess that is and always will be a part of corporate finance, and that sounds quite reminiscent of narcissism: when we're doing good, it's because we're super smart, innovative, good, and hard working (oh and that means we should keep all the rewards); and when we're doing bad, it's because other bad and silly people have done it to us, we did nothing wrong and are blameless, and we're the victims (oh and that means we should be bailed out at everyone else's expense).

Never forget 2008. None of them have paid for it yet.

And by the way, without commenting either way on their politics, a handy trick anyone can use to determine if a behaviour is narcissistic, is to ask "if this position came from the mouth of Trump or Trudeau, would it sound like them?".
I don't see the same red flags in FRB's filings that were present in SVB's filings. SVB had almost half their assets in held-to-maturity securities. FRB has 12%. SVB had triple the short-term credit from FHLBs compared to FRB.
It overlooks everyone who is just starting out, everyone employed at these companies that isn't making techbro salary like the receptionists, custodial staff, QA, workers on visas, whatever.

Simple fantasies for simple minds, no different than lazy racism or any other form of bigotry.
Why in the world would you want to own the bank? Whoever is buying it is doing so to get the customer list. The assets aren't really worthwhile given that they will all need to be sold to cover the depositors, given that if they opened as DAOBank on Monday everyone would pull their money out.

The only case I see of not having a run on the remaining balances is if someone like Chase buys them.
+1 I wish people would understand cashflow vs. assets.
Oh, so that money that I pay to my ISP every month? I’m just hallucinating that?

Give me a break.

FB, Twitter, and the rest could go down and I would still be able to use the Internet. It would be more boring for about two weeks or so… then I would get used to it. Maybe go outside more. :)
Any work of fiction is also just a number. See Godel's Incompleteness Theorem.
What’s your point? I literally said any pathogen that causes disease in us has to break our immune system first. Of course we need vaccines to help fight those disease.
no, a credible rumor that a bank with an odd deposit structure and a hole in its balance sheet causes a bank run. the horror! also, given that the cost to me is negligible, why wouldn't i just pull my money as soon as there were rumors? i get literally 0 benefit but could lose a third of my money if i don't.

as for timing... i guess that's the benefit of being terminally online, you get a chance to get out :D
> It’s like those millionaires who wept because they lost money with Madoff and they wanted the payout for all their earnings they had “made” over the years.

Are you genuinely making this comparison or projecting what this looks like to the average American?

The people who will be hit hardest by this aren't "dumb" depositors of SVB, they're employees and businesses that "banked with a bad bank".

Blame the cowardice of the VCs that triggered the bank run and the arrogance of the bankers at SVB, blame to a lesser extent the businesses that banked with SVB maybe, but don't tell me "serve's 'em right" for the employees who face furlough or layoffs.
Yeah, exactly that one. Hated them :D
Those probabilities assume there’s an equal likelihood of going under for each bank which certainly isn’t true. I could just move it to half at WFB and half at JPM and cut my risk by substantially more than spreading it across random community banks.
For banks that are bidding, how do they know how many assets SVB had? Are they working off of data from past fillings?
On the contrary, as a fresh grad with (presumably) lower COL requirements, you can be more flexible on the salary front than a lot of recently-laid-off senior SWE who may have homes + kids that need to be paid for.

Take it from a millennial who graduated into the recession in 2011, even when everyone is saying the job market sucks, there are always opportunities for younger/fresher people out there, you just might have to be willing to take a "worse" position to get started - but in this industry you can always level up later once things calm down.

Don't get distracted by all the people you see on here or Blind talking about their $500k TC in their mid-20s, those people are far, far outliers. I've never worked in FAANG, self-taught my way into webdev in my early 30s after two other half-careers in my 20s, and I managed to find a job with 0 experience during COVID because I adjusted my expectations down to "normal" salary ranges (sub-$100k), as long as it paid my bills and gave room to grow professionally.

As a young person you have both lower salary requirements (requirements in the sense of "I need at least $XYZ per month to keep the lights on) and a lot of time, both of which are massive advantages when taking the long view of your career.
The person you’re replying to is referring to a well-founded rumor that depositors will receive 50% of the uninsured deposits beyond the 250k minimum this coming week and that SVB has assets worth at least 80% of all deposits, which will be recovered in time.
Many would agree, but it's not relevant to the free speech debate

It's the same logic as those who made the "this guy kinda sucks though" argument based on George Floyd's criminal history to deflect from what the issue really was about - policing practices.
yeah, this would not be excited in the least. watching a dozen emails come in would be quite boring