skysight-inc/HackerNews huggingface dataset:
>How can a business model rely on this?

Customers also want to earn easy, high interest, that's the main issue. You're taking a risk (albeit a small one) with your deposits; your money is being lent by the bank and they pay you interest in return.

If you only want your cash to be held safely, put it in a safety deposit box.
You don't want to live in 3 m2 room that just have a bed, TV with 24/7 news/ads and a giant display simulating the outside?

Come on, you wanna live cheaply in the middle of the city, you're gonna have to sacrifice something!

Joking aside, I agree, sounds dystopian. I'm just having fun with the idea I guess.
Would it have been better if the rate increases were further apart and there were strong declarations of intent?
No. Due to the previous crisis, is one part very well regulated. Here is what should happen...The emphasis below on unlikely is mine...

"A: In the unlikely event of a bank failure, the FDIC responds in two capacities."

"First, as the insurer of the bank's deposits, the FDIC pays insurance to depositors up to the insurance limit. Historically, the FDIC pays insurance within a few days after a bank closing, usually the next business day, by either 1) providing each depositor with a new account at another insured bank in an amount equal to the insured balance of their account at the failed bank, or 2) issuing a check to each depositor for the insured balance of their account at the failed bank....

...In some cases—for example, deposits that exceed $250,000 and are linked to trust documents or deposits established by a third-party broker—the FDIC may need additional time to determine the amount of deposit insurance coverage and may request supplemental information from the depositor in order to complete the insurance determination..."

"Second, as the receiver of the failed bank, the FDIC assumes the task of selling/collecting the assets of the failed bank and settling its debts, including claims for deposits in excess of the insured limit. If a depositor has uninsured funds (i.e., funds above the insured limit), they may recover some portion of their uninsured funds from the proceeds from the sale of failed bank assets. However, it can take several years to sell off the assets of a failed bank. As assets are sold, depositors who had uninsured funds usually receive periodic payments (on a pro-rata "cents on the dollar" basis) on their remaining claim."

"Deposit Insurance FAQs" - https://www.fdic.gov/resources/deposit-insurance/faq/
No, I don't mean that. CBP is fine for them, since they earn fees on it.

If you pull your funds off CB into a DEX and then do the arbitrage, that's when they get unhappy.

Yes, that's happened to someone I know. Their account was locked as soon as CB figured out that is what they were being used for. They don't like just being a fiat ramp since it doesn't earn them anything.
Yellen says Silicon Valley Bank won’t receive bailout after collapse
I think "lucky" is the better word here. He was lucky because he was able to get all of his money out of the bank while he could. Maybe he knew something was happening before others? Maybe he was just able to move faster? ¯\_(ツ)_/¯

Regardless, he definitely helped contribute to its collapse, as well as everyone else who took their money out of the bank during the run. To what degree is Peter Thiel responsible? I don't know and I don't think it really matters.
>But if you imagine a capitalistic system, isn't free markets a part of it?

See: 1940-1970 Japan, South Korea, 1980-2023 China.
Blaming advertising for the reason the Internet is like it is, is one possibility.

But what if advertising is actually the least bad face of governmental control? This is to argue that the poor model is by design, as it allows for control and data gathering, that is actually as useful to the governance structure as it is to advertisers.

If you think that we already live in a fascist governance system (where fascism is government and corporations working together) why not choose the more covert path to gather the essential information that the control structure requires for technocracy? Ie why not use corporations to collect the data (as they are perceived to be competitive), rather than the government (which would be accused of being 'Big Brother')?

Similar to how verified twitter accounts = government passports.
To clarify, SVB's problems are the result of The Fed's change in direction. It just takes a while to see the affects of those decisions.
I'm open to the idea that a video wall--which could even have a real outside view feed--isn't necessarily that dystopian. Having stayed in hundreds of urban hotels, I'd actually say the view is suboptimal more often than not.

On the other hand, shared bathrooms/kitchens/etc. are going to be a non-starter for most people. Especially, as you say, once you get beyond the live for a few more years like you're still in college demographic.
> has nothing to do with the startups using the bank

The proximate cause is short-term funding from risky depositors, i.e. start-ups. The ultimate cause was insolvency. (Yes, not illiquidity, simple illiquidity is solved by the Fed’s discount window.)
Then don't rent/buy it? Why should this be an illegal choice for an adult to make?
What was there in Q3 that could have tipped folks off?
Additionally they don’t store the actual fingerprint pattern, they do a hash off of the subepidermal layers of your skin.

You can’t compare that to inked fingerprints.
What if they had, say, an executive-level person who knew a lot about finance? One whose job was understanding money and what to do with it? Maybe an officer of finance. Heck, managing all the company's cash sounds pretty important if it's millions of dollars, so we should probably put them pretty high up. Some sort of C*O title?

Just spitballing here, but since apparently a lot of people with millions of dollars who have heard their whole lives about FDIC-insured deposit limits are suddenly waking up to the fact that things above the line are uninsured, seems like a good time to innovate.
I’ve been out of medical school for 6 years now, so I’m not that far removed from higher education. Stanford law is apparently very low quality if this is what kind of “professional” it produces.

The administrator kept asking “is the juice worth the squeeze?”
Well no, not at all. These students are disgusting.

https://vimeo.com/806801455/16c79baa14
I'm not sure i understand the difference here between "a liquidity crisis" and bankruptcy. people want to withdraw their deposits made at low interest rates and invest them with better yields.

The banks have misrepresented their ability to pay out the current deposits.
An interior space filled with artificial light and real plants could definitely be superior to an apartment with a window overlooking a noisy and dirty highway (for example).
Robots performing Hindu rituals – some devotees fear they’ll replace worshippers
Yes, the alternative is CBDC (central bank digital currency). But it also has its problems.
> > I've worked at startups for my whole career

HN has grown a lot and there are much more people who are not necessarily from SV.

In the real world, if you live in SF, work in startups doing what you like, get paid well, not trapped in 9-5 etc.

That's elite and nobody will ever feel sorry for you. As a general rule every guy should always expect nobody to feel sorry for them, but this particular set of circumstances and the area of the country where they unfolded scream 'millionaires problems' to those roaming in the interwebz.

And now HN is part of the interwebz.
Maybe because I’m in Canada but I’m not aware that this is part of the fire code here at least.

I live in a 12th floor apartment. My bedroom has has a window, but it’s not one that opens in a way that a human could fit through. Even then, a 12 story fall is pretty tough.
It's not exactly air, but there is still some "stuff" filling the solar system.

https://en.m.wikipedia.org/wiki/Interplanetary_medium
> "In such a case, Circle, as required by law under stored-value money transmission regulation, will stand behind USDC and cover any shortfall using corporate resources, involving external capital if necessary."
Id like to hear more about that.
Billionaires and VCs are going on Twitter and demanding a make whole government bailout. Is this the first time they are hearing about how the FDIC works?

I don’t think anyone is opposed to the system playing out like it’s supposed to.

The FDIC pays out $250k on Monday plus pro rata whatever cash is on hand. Then it starts selling assets. The treasuries and MBSs they can probably sell within days, those have very liquid markets. That will allow them to make another pro rata distribution. The loan book will take longer. But as long as public money isn’t used, no one will call it bailout.
There is an apparent next domino to fall - First Republic Bank.
That's normally called https://de.wikipedia.org/wiki/Plenken.
In the UK, you are only covered up to £80k though... I could understand people wanting to get at least money over £80k out, but also how long does it take to get access to your cash if you have to go through the government insurance procedure. Is it days, weeks, months ? I have no idea and wouldn't want to have to find out.
You have to bear in mind that until the 17th century or so, the philosophical doctrine that "nature abhors a vacuum" seemed to be backed by very reasonable evidence: namely, the fact that it was basically impossible to actually create a vacuum through any technological means available. And until we had basic theories of gravity and the properties of gases, there was no theoretical justification for how a vacuum could form naturally.

So it makes sense that to most thinkers of the time, it was more plausible for space to be completely filled with some kind of perfectly transparent but substantial aether.

You raise a very interesting point, though. I would be very interested to learn what ancient philosophers thought about atmospheric haze. Did they recognize that the bluish appearance of distant mountains and the reddish appearance of sunrises/sunsets had a common cause? And if so, did they associate it with "air" as an elemental substance, or something else?
Banks do not park such a big fraction of their funds in such a long term investment.

They should have chosen a ladder of differently maturity timelines to trade off between yield and availability. For example, they could have invested more in short term treasuries instead, which yield 4.5% now.

In finance terms, they were not hedged against interest rate risk.
"Bees: a new unit of measurement for ML model size" https://www.lesswrong.com/posts/YKfNZAmiLdepDngwi/gpt-175bee

(lists some other animals too)
I looked at how USB was bit-banged on an arduino and I'm sure some of the problems involved are common with this.

One constraint is VGA is at minimum around 25mhz and HDMI is at minimum 165mhz and a pico is around 133mhz.

It also takes clock cycles to update the data and run algorithms. Some of the algorithms can often be mitigated to the silicon that controls some of the pins as they can have small bit of programmable logic for this purpose or can be re-purposed, but usually not all the pins or all of the algorithms.

There are tricks and such that might be able to get it working in certain lower resolutions and color modes, perhaps like overclocking or taking advantage of some harmonic, or clever use of some existing feature, but the more tricks you do to get things faster,often introduce issues with stability that you have to mitigate or solve. This barely touches physical constraints like cord length, signal integrity, voltages and current, overheating, etc that may or may not be applicable.
Exactly. Companies go under all the time for all sorts of reasons. A worker who has absolutely zero margin to delay a paycheck is in trouble for all sorts of reasons. Bank failures are tiny fraction of the things that could wreck their world.
And founders aren’t the only ones that will benefit from a bailout.
What I’m saying is if SV had a history of developing economy outside of the coasts there might be less salt. Denver’s kind of a good case in point. It’s seen a huge tech influx. There’s probably less salt towards tech/SV there than elsewhere. And if not, the reasons may be informative for anyone looking to better the image of SV. But living there is also sky high-and maybe it’s time to look for ways to move on to cheaper pastures.
NO! Checking and savings accounts are NOT separately insured! The FDIC is $250k per bank, per depositor and per ownership category. Ownership category = single account / joint account / trust account / mortgage escrow account/ (10 more obscure categories).

As a regular person, you get $250k for your checking and savings together, and your spouse gets $250k for theirs, and then you get another $250k for jointly owned accounts.
I can't learn from downvotes alone. Pls explain what I missed in the article because I genuinely don't know.
Definitely. I'm not a fire code expert, but the windows in the example buildings in the article are definitely not for egress. Active fire suppression (e.g. sprinkler systems) might be why that is allowed.
Google's data suite (bigquery, ai) is unmatched imo but I agree -- prod realtime apps shouldn't run on gcp. Google has proved time and time again that they have awful support. I've seen plenty of gcp incidents and every support thread is them gaslighting that the customer is wrong, gcp had no issues. One time we had our dependencies on Google breaking and google suite reported the outage but gcp didn't, gcp support still tried to deny that gcp had any issues.

It's funny that AWS support isn't super great absolutely, but relatively boy their support is amazing. They will at least acknowledge there was an issue on their end.
The VC's obligation is to their startups... Its a completely rational decision to get your money out of SVB once you know others are thinking the exact same.
SVB sought - and received! - reduced scrutiny of the institution, alluding to the “low risk profile of our activities and business model”

https://www.theguardian.com/business/2023/mar/11/silicon-val...

https://archive.is/aSx6E
It would be cool, especially with a larger package with more pins.
Confusionists say, “wha?”
Lessons from building Plausible Analytics to $1.2M ARR in public
Here's an interview with Plausible (an alternative to Google Analytics) co-founder Marko on the journey of going from 0 to $1.2m in ARR and building as much as possible in public
> I am on a similar script, and I think the half life on these pills is way longer than commonly advertised.

My capsules are advertised as 24-hour; they are specifically extended-release. For me that's a good thing; it keeps me functional until I need to take the next day's dose. Won't be able to take it on time if I can't get out of bed due to ADHD, after all.

They do require a bit more preparation to take, though (stuffing myself with as much food as possible).

> The implication of that is that if you take the same amount every day you can build up a wall of toxicity.

Not exactly a wall of toxicity—dextroamphetamine isn't toxic in the same ways meth is—but the medication from the previous day can indeed stay in the body for a while longer than advertised. From what I've been told, as long as you take doses significantly less frequently than the half-life, it eventually reaches an equilibrium and doesn't just build forever.

> I recommend skipping your dose on the weekend, or cutting it significantly and only taking it in the morning. I find this helps me keep the effects feeling more even over time.

I already take the entire day's dose in the morning, anyway. Usually 8am every day, but sometimes a few hours earlier.

I don't like to skip days because basically my entire issue with ADHD was spontaneously losing the ability to function. Stopping stimulants causes me to sleep 15 hours in a row. I wish I was joking; I basically go into hibernation for a day. I'd be sacrificing my weekend for no real benefit except getting high on Monday I guess.

> Also, maybe I should start drinking a glass of orange juice a few hours before bed to try to accelerate the excretion.

Citric acid only neutralizes the capsule itself, not the drug once it's in your body. If you need help sleeping just take around 5mg melatonin four hours before bed. After a week or so of this you should start to get tired and sleep naturally every night, even on stimulants, as long as you keep taking the melatonin.

Ths basically works by correcting your circadian rhythm.

I haven't needed this because I can sleep manually, as long as I'm not having a heart attack. But I should probably do it anyway because circadian rhythm is important for more things than just sleep.
> it makes no sense for me to hand them $100 in cash today while I wait a decade for their bonds to mature, just so I can sell them for $100 again.

I know the Fed and Treasury are different entities but holding a bunch of bonds to essentially themselves is the best case scenario. They would hold both ends of the transaction: the money from the bonds and the bonds themselves (obviously ignoring the fact the liquid money is likely 'at work' somewhere else).

The risk at that point to the Fed is limited to only the US financial system failing entirely. 'They' can afford to hold the bonds even in perpetuity because they have no real responsibilities to anyone beyond providing stability.

I am not an economist but the risk of either asking for the cash from the Treasury or otherwise doing 'money-magic' to transform the bonds into liquid cash should be basically zero. They would just be fronting themselves money at a 0% interest rate, no one else would be exposed to that 'loan'.

Someone else smarter in economics may have to step into explain why this is wrong or bad.
wait until someone tries to replace a god.
> because our CEO used a well-reputed bank

That didn’t have an investment grade rating, where $250k comes out of taxpayer coffers Monday morning, and where everyone has unemployment insurance? Yes.

The assets of the bank should go to your company first. But the public purse should not be opened.
So if you don't own a smartphone to send the biometrics ahead of travel you can't go to the UK?
Because there are health and safety issues that some adults are happy to overlook whilst society, eventually, picks up the bill.
Why even bother with the fiction and payroll of the FDIC and a $250k limit and FDIC insurance premiums if there is always an implicit taxpayer bailout?

Obviously that insurance costs something, and the moral hazard is that both bank owners and depositors of banks with lax standards get to financially benefit from lower costs due to all federal taxpayers subsidizing their risk.

Anytime taxpayers give money, they are tilting the incentives such that the risk of the loss being bailed out is now going to be underpriced, because it will be assumed a bailout is coming.

If the goal is to have no depositor in the US ever lose any money, then the government should just give everyone an account they can transfer money into and out of. It will earn no interest, and no bank owners will profit from the taxpayers’ subsidy.
One of these eggs featured prominently in the early '00s masterpiece that was Ocean's Twelve.
>but mostly flickering

Trivia: static images on LCD can be sometimes seen as flickering because they are not really static, to prevent burn-in and subsequent damage polarity is reversed every frame. Some details here: http://www.techmind.org/lcd/
Exactly. 250k to me seems like a very logical threshold to expect at least some sophistication. Deposit sweeps get you to 3M many places after which it seems perfectly reasonable to expect people to manage treasuries. If Bogleheads can do it VCs can.

Then again, you have people like Mark Cuban who clearly don’t know about basic cash management (https://twitter.com/mcuban/status/1634413306948603905), so maybe American lack of financial literacy has truly trickled all the way up.
Because it was providing loans to the VCs and they saw it convenient, to force their startups there. High risk for High reward...

"The rise and stunning fall of Silicon Valley Bank" - https://www.axios.com/2023/03/11/silicon-valley-bank-rip
You're talking about full spectrum lighting and seasonal affective disorder (SAD).
> shouting down students who raised questions with civility

Sounds awful. Is there video?
I was suprised to learn that in the US deposits are insured up to $250K since 2008. In the EU it's only 100K euros and it seems low.
>I can easily imagine this being weaponized by short sellers and foreign actors.

Hate to break it to you, bank runs have been a thing for hundreds of years. This isn't new. You put your own money at risk by participating.

One of Elon's biggest achievements is normalizing demonizing "the shorts". In this case the Bank took took much risk and was insolvent; the shorts would be right.
this sounds really sweet. where did you learn this technique? do you have a related degree?
Here's some smaller regional bank stocks over the last few days:

https://finance.yahoo.com/quote/PACW - Down 60%
https://finance.yahoo.com/quote/FRC - Down 30%
https://finance.yahoo.com/quote/SBN - Down 40%

Meanwhile huge bank stocks are up or unchanged

https://finance.yahoo.com/quote/JPM
https://finance.yahoo.com/quote/WFC

Did these banks all make the same stupid decision as SVB? Unlikely but maybe. More likely though is the risk that people get spooked over SVB customers losing their deposits (even just 20%) and decide to move their money away from smaller banks like SVB to huge banks like Citi, Wells Fargo, etc. Personally if there were a chance I'd lose just 10% of my balance I'd make the switch, it's the only rational thing to do if other depositors are taking a haircut elsewhere. It's not going to collapse the entire banking system, just the local/regional one, which you see is already starting to happen.

I fail to see how burning most of grandma's life savings (and other innocent people who probably never experienced a bank run before) and allowing the collapse of regional banks is somehow better than backstopping depositors now and making much tighter banking regulation for smaller banks going forward to prevent this from happening again. Do we want the nation's banking infrastructure to consist only of 3 or 4 enormous banks or do we want the options that a lot of smaller local banks who are able to cater to the specific needs of their communities provides?
We’ll see, but tweets last night to this effect were pretty clearly FUD.
> Sure, for a couple of years, when you're young and just using your house to sleep. Problem is that people who are not willing would also end up in these semi-houses.

For sure. These dwellings are not meant for every stage of life, but they might be perfectly suited to people living by themselves (young or old).
This is just the tip of the iceberg. Turns out our operating systems are actually just sandboxed applications in the hardware manufacturer's proprietary hellscape. Not only are they not real operating systems anymore, they are no longer even in real control of pretty much anything.

https://youtu.be/36myc8wQhLo
Although that allows “hypenated-and-autological”, which is very useful under some circumstances and in frontend.
that's the thing. SVB has a loan portfolio paying much higher interest rates. but if that loan portfolio is to a bunch of companies that are going to go bankrupt, then it isn't worth anywhere close to what it is on the books at.

the game here is very simple: SVB loans money to cash burning startups and they keep that money in SVB accounts, so it looks like they have cash, and it looks like SVB has deposits, but all of that is created out of thin air by SVB giving loans to companies that couldn't get them from a real bank. If those companies actually take the money SVB loaned them out of their SVB account, then the scam collapses.

that is what happened. everybody knows it.
Related discussion:

> Peter Thiel’s fund wound down 8-year Bitcoin bet before market crash: https://news.ycombinator.com/item?id=34444980