skysight-inc/HackerNews huggingface dataset:
Yes, see the other sequence of comments[1] where I clarify that a bit. I didn't mean it as an unalloyed "always maximally simple and trustworty in all cases" claim. Sorry for the ambiguous wording.

Yet for me, in those high-concurrency/high-frequency situations, I feel like a debugger is also a pain to use and trust? In truth, I've had best luck solving those sorts of issues by old-fashioned thinking through it / talking it over with someone / creating hypotheses and testing them sort of analysis. And even for that, logging (or profiling, event tracing, and similar "dump lots of data" approaches) tends to produce better "see the big picture" information than a debugger's laser-like focus. Might come down to one's personality somewhat, too (:

[1] https://news.ycombinator.com/item?id=35101564
> $500,000

That's way too low.

The other thing this exposed is that FDIC protection for businesses is also too low.
The financial stability of the depositors had ~0 to do with this situation.
I had a similar thing happen a few years ago when I bought my house. There was a guy the same age as me with the same name who had defaulted on his mortgage, and I had to sign a statement saying I wasn't him. The funny thing was, I looked up the house he abandoned, and it was basically identical to the house I was buying, down to the ornamental plum tree in the front yard. Presumably got built in the same wave of development in the 70s.
Collection can mean arrive with the sheriff and start taking things to sell at auction. Since it pierces the corporate veil, this can eventually include the executives' personal property and bank accounts.
For those wondering, the Laval reference is this: https://en.wikipedia.org/wiki/Laval_daycare_bus_crash
Thank you for the reply and I appreciate the constructive criticism. I'll go ahead and address the points you made.

* This is a good point, I should probably do some rearranging on the order. There seems to be no shortage of Node.js Fullstack/Backend positions, but I see your point.

* I have heard this criticism about the timing on my portfolio. I'm going to speed up some of the fades since this seems to be the main criticism I get.

* The top bar hiding itself was an artistic choice. I see this behavior on a lot of other sites. To me it's pretty intuitive, but I can see where you are coming from.

To address your overall point, I have put together a simple hit tracker with geolocation as an experiment to get an idea of who is actually looking at my work when I put in an application. My estimation is that it's about 5% or less. This is why I think my resume is the issue. Why bother clicking a link if the resume is full of red flags?

This being said, I appreciate the kind words about my work. Thank you.
Yes, and emphasized in Jewish law, too.

- Leviticus 19:13 - "You shall not leave [with you] the payment of a worker overnight until the morning..."

- Deuteronomy 24:15 - "On his day you should give his wages, the sun should not set on it, because he is a poor man and his life depends on it...”

And that's true whether you're a super-religious Chassid type or a super-socialist Workman's Circle Bundist type:

https://www.chabad.org/library/article_cdo/aid/1218800/jewis...

https://www.laborpress.org/workmen-s-circle-backs-fight-for-...
Taxpayer money won't be required here. SVB will get sold to a bigger bank.

Providing short-term liquidity will be profitable for the taxpayer.
1. You are bailing out depositors not SVB.

2. Depositors have no other option in general. https://www.bloomberg.com/opinion/articles/2019-03-08/the-fe...
This seems like the kind of thing you could take to your skip-level or even higher in the management chain. A single new manager causing multiple long-serving employees to become disgruntled should be a bright red flag to a competent leadership team.
WaMu:

"The closure had no immediate effect on depositors. All deposits even those above the FDIC limit were transferred to Chase. As the FDIC stated, "No one lost any money that was deposited in Washington Mutual Bank." In addition, all existing WaMu CDs were honored by Chase to maturity."

-- https://www.depositaccounts.com/blog/2010/09/twoyear-anniver...

Looks like for IndyMac, uninsured deposits got paid back at 50 cents on the dollar.

If this is like WaMu, the bank opens on Monday and everything goes back to normal. If this is like IndyMac (or worse, Silver State Bank, 11 cents on the dollar recovered), a bunch of startups are now fucked companies.

Might be some politics going on this weekend.
I am all in favour of getting rid of minimum wage laws. However, they are currently in play and I suspect that being open and direct about engaging in an illegal act to deal with a bankrupt bank is exactly the sort of situation that is likely to result in criminal prosecutions for executives if the company goes under.
> In the 2008 crisis, a major lesson was that you can’t effectively reduce risk by bundling together lots of risky assets into one major asset.

That was the first domino to fall, but that was survivable. The real problem was that the banking system had a suicide pact in the form of credit default swaps on each other that they couldn't cover. The MBS stuff was bad, but that wasn't what caused 2008.

Now I'm just waiting to find out if some other bank is going to need to pay out credit default swaps for SVB in excess of their market cap...
A sane enoloyer would furlough pending stabilization. Layoffs would destroy the company. Who would work for a company that both can't manage its finances and also can't manage its staffing?
Yes, if you count central banks and don’t mind hyperinflation. But that’s probably not what you’re asking. I don’t think any ordinary commercial or retail bank could survive a run without outside help.
You need some of that for working capital, and if you want to play the t-bill game, you're better off with a money market fund and letting someone else do the work for you.
Lmao, just like FTX
I'm a huge fan of Georgi (the author)! You should also check out his other work, bringing Apple Silicon support to OpenAI's Whisper (speech-to-text model): https://github.com/ggerganov/whisper.cpp
SVB’s collapse is not a harbinger of another 2008
https://archive.ph/EyfBT
The winning strategy is to pretend you are committing to the group (so as to maximize the time you have) while selling as fast as you can. See also: Bill Hwang's Archegos Capital.
Just don’t copy their sampler. It’s trashcan-tier. Bad defaults and no repetition penalty.
Real world licenses and ID's have the added secondary (or primary) benefit of enabling greater economic activity. One can leave the country with a passport, drive a car with a drivers license, grasp medical services with a medicare card, ect. These licenses and IDs are an advantage that lift you up in society.

Digital IDs offer the ability to go 'off-grid' and hide in humility and also to be tracked and seen everywhere you go, without public awareness of it. It has the strongest cultural implications in the US, without a clear advantage to foreigners.

An e-commerce license or a software engineer's certificate based on a paper test that you must upkeep every 5 years or so, would be a largely unpopular, but basically effective way of getting just enough identity out of the people who are paying for stuff and making money on the internet to ID them, when required. You would have to show it makes the user more employable and grant them better access to domestic internet services, as part of the benefits of becoming 'vaguely certified'.

Do we really need more online identity though. The five eyes see it all. Personally, I don't want to hide and I don't want to see what everyone's doing. Let's just get on with trading code and making this whole internet work better.
I really really doubt that.

The author assumes that the assets behind SVB are unsalvageable - which doesn't appear to be the problem, it seems like its just the quintessential liquidity crunch that runs cause: there's plenty of assets they just can't be converted to cash fast enough to meet obligations. Because of that I'm sure some larger bank will be down for buying those assets at a steep discount.

The author also assumes that in the event that a payroll company has been given money but is unable to pass it on to employees that the employer will magically no longer have any money. Also, even if you do lay them off those employees are entitled to the pay checks the author seems to think are lost forever, so laying them off just destroys the company it doesn't actually do anything. The payroll companies themselves may have a rockier time if a significant part of their balance sheet is now cash tied up in SVB that they owe to either employees or the employer (as numerous posts have employers just paying their staff directly rather than deal with this). At least one of the larger payroll companies has already arranged payment with Morgan/Chase to have people paid only a day or so late and has said they'll cover overdraft fees or similar.

What utter nonsense.
At least in the modern economy, people aren't running to withdraw cash. They just transfer it to another bank. So the strongest major banks are probably impervious to runs, because if there is a general panic (rather than a panic at a specific bank), it will result in a dilution of funds between a number of major banks, rather than a net exodus of funds from the banking system.
To be clear, if you have 10 million cash, and you need >250k to make payroll a couple of times while your banks assets are sold off and you get the rest of your cash back (or 95%, or whatever), there is no need to spread that 10 mil over 40 different banks. That would be very inconvenient. Just to set it up so you have enough insurance to help you survive a short while. You can put 9.75M in one account and 250k in another bank.
I am not a farmer, but am interested in watching the development of agricultural tech.

>> I can't see any good way to harvest a field with solar panels that isn't so inefficiently laid out that it would be better to have two separate fields.

Would there be scope for smaller autonomous machines? Presumably, there should be some crop configurations that could benefit, but we don't yet have all the results of experiments currently running. Here in Japan, farms are typically much smaller, so there's perhaps greater scope for agrivoltaics than in industrial scale farms in USA.
We did an exhaustive comparison of GitLab vs GitHub, among a few other tools. We had a strong technical preference for GitLab. Performance of runners can be problematic at times but we still don't feel like GitHub is too competitive. However, a 50% price increase is LARGE. What are GitLab users doing to try and justify the cost? We have the ~800 seats and don't want to make a move to something else.
+1 for Scott Manley
> ...That must never be allowed to happen.

I empathize with these concerns but think they're outdated by a decade or two. We already have universal tracking IDs, we just don't see them because they're opaque and proprietary. We already use government identification online, we just do it in the dumbest way possible: "please upload a photo of your driver's license." We've got the worst parts of centralized identity and none of the benefits.

> They don't have some special magic that allows you to prove who you are in a unique way.

Yes they do, the magic is called "losing money." FaceGoogAzonRosoft have done everything related to auth that's profitable, but the one thing they will never do is build an office in your hometown and staff it with a person who can do deal with you as an individual and physically hold your two recent utility bills when corner cases or fraud or whatever require it. The government has already built that office and hired that person, and you've already paid for it, so you might as well get some value out of it.
Minimum wage is a heck of a lot less than average regular wage. Overtime is yet another.
Yeah it's boring. I don't care what others are working on most of the time so I just ignore them. Sometimes you get someone who wants to thumb up and show face and play games in standup which is the worst of kind.
Treasuries can and do lose value. They are not like cash which does not lose face value.

Long term treasuries have declined 40% in value since they peaked in 2020.

https://www.google.com/finance/quote/TLT:NASDAQ

Banks hold a lot of treasuries as part of their capital requirements. So long as they intend to hold them to maturity, they don't have to mark them to market.

Banks collectively hold about $620 billion in loses in held-to-maturity securities right now since they have declined rapidly in value during the Fed's interest rate hikes.

https://www.aol.com/finance/why-silicon-valley-banks-crisis-...

If you can hold them to maturity, you're fine. If you need to sell them to raise cash (to cover other losses or during a bank run) those losses become real.

And if your startup had $10m in cash in SVB, but now you find out you're only getting back, say, $7m, that's very bad news for your business.
I don't think most people realize the current required reserve ratio is literally zero.

https://www.federalreserve.gov/monetarypolicy/reservereq.htm
No one's going to be liable for a paycheck that's late by a few days due to the collapse of the bank through which the paycheck was being wired.
A big issue is that the customer base is highly correlated/undiversified, in the sense that they're all funded by a small set of VC's telling them to withdraw their money. SVB was uniquely exposed to the whims of a small set of individuals in this manner.
Intel probably wishes they did. That's because ultimately having code generally follow a common structure gives you as a uarch designer a bit more to work with wrt how RTL micro-optimizations affect your customers' code. Towards that end, the different AArch64 ABIs are pretty minor morphs when compared to the clusters that are x86 ABIs.
Idk, Tesla and SpaceX are doing better than ever. Twitter is doing alright as a much leaner company.
> banks borrow money from depositors and lend that money via loans or investments.

Do they? Reserve requirements are almost non-existent. A better way to put it is that banks pretty much have a state-granted privilege for creating money and in the form of loans.
Yes and no. LCR is basically requiring you to keep in cash and liquid assets the equivalent of a 30 day bank run. And it should work. A european bank had very large bank run last year and survived without even breaching its regulatory minimums. But that still leaves the bank in a weak position after the bank run, and you can't predict the exact magnitude of a run.
Also discussed here (100+ comments):

https://news.ycombinator.com/item?id=35102339
> EDIT: ok found it: it "requires" ubuntu-advantage-tools

Dependencies:

* https://packages.ubuntu.com/jammy/ubuntu-minimal
If your "liquidity crisis" is measured in terms of years and years, you have a solvency crisis.

1 2023USD =/= 1 2033USD

Those aren't the same currency.

Solvency is whether you could go to market today (or soon) and show more assets than liabilities.
No one takes you seriously when you fling "elite" as a slur, especially while defending someone equally "elite".
You see a price recovery for $SIVB?
What if it is 10% per year until it is all gone?
Repetition penalty is a matter of, generate a token, then multiply that logit by the penalty. (If the logit is negative, divide instead of multiply.)

https://github.com/shawwn/llama has an implementation (check the commit history).
This stuff is what happens when Israel allows a criminal defendant into the PM's chair. His focus goes into (of course totally selfless) court reforms and beating charges rather than managing the country and... keeping Iran from allying with a regional power. It needs a stronger justice system, not a weaker one.
SVB isn’t insolvent and has more assets than deposits. The FDIC move is meant to instill stability.
It was t-bonds of 10y+ maturity
They charge more for credit.
How I made an AI Powered website in under 3 minutes
SVB was a large lender in that market, because most startups don't have much in the way of collateral to convince other banks to lend to them.
They actually sent out an email about 2 hours ago:

Hello,

Silicon Valley Bank was taken over by the FDIC [0] today, Friday March 10th. We’re monitoring the situation closely and it saddens us to see the closure of a bank that partnered with many of you.

If you’re impacted by the SVB closure and need to open a new bank account, we are here to guide you through it.

Choosing a banking partner

- We’ve worked with startup-friendly banking partners like Mercury (mercury.com/partner/atlas) and Novo (novo.co/a/stripe-atlas) to get Stripe Atlas companies priority access to signing up.

- You can also choose to use any bank such as JP Morgan Chase, Bank of America, Wells Fargo, or PNC, and often your personal bank offers business services.
Why would they be bailed in? SVB is not systemically important. The FDIC will wind it up just like any other small failed bank.
Read the article. I am not talking about FDIC insurance. I am talking about the bailout that is discussed at towards the end of the article.
Clearly we need adversarial science teams. Some people not connected and perhaps by law never connected directly or indirectly to each other that try to disprove the other team’s results. No husbands and wives and relatives and kids working for the other team.
Just a note that I was downvoted a day before the collapse when you could possibly have withdrawn your funds.
> SVB was a national bank

It was more of a regional bank, specifically one servicing SV, with at most sporadic branches elsewhere, usually just one in a given state in its largest major city (e.g., one in NY: in NYC; one in D.C.; one in Colorado: in Denver). In many states they have no branches (e.g., Florida): https://www.svb.com/locations

> Nothing they do isn't done by others

Then why did so many startups and VCs bank with them?

> my friends and their missions

I would personally be hesitant to use this terminology for others, unless they're actually doing something truly impactful and impressive, like curing some horrible disease, going to Mars, or at least actually in the military on some mission.
> They did not get greedy. They bought bonds

they got some bonds which had an interest rate risk, in order to earn a higher interest. This is "greedy", but it would've been fine under normal circumstances, since they did not break any banking regulations.
Your understanding does not fit with the article or anything else I read, which indicates there is a hole in their assets.
> We ask that you please reach out to your bank and request that your bank return any ACH transactions debited from your account by Rippling into SVB under the premise that the transaction(s) are unauthorized, since the bank has ceased operations and is unable to honor the payments.

This seems a little ... odd. To be very clear, I'm not on the bank's side at all... but if the ACH is already debited, then your bank would absolutely be in the right to not return it as unauthorized, because the bank ceased operations _after_ the transaction.
I wonder how a civil war refugee would react seeing this [0] [1] labelled as an attempt to overthrow a democratically elected government.

[0] https://www.youtube.com/watch?v=P74pbbhCZng

[1] https://www.youtube.com/shorts/hzfwaSVIvoA
That is one of the clearest examples of both causal directions being plausible.
The 'hf' not only refers to the presence of a hardware floating point unit, but also that the floating point function arguments are passed in floating point registers in the ABI. For interwork with precompiled binaries, the full ABI support assuming hardware floating point trailed behind the simple presence of an FPU for a surprisingly long amount of time. For a real long time, the asm would be crazy, passing floating point arguments into the integer registers at every function call boundary, just to pass them back into the FPU registers to perform any work on them.
If they let the customer know that the payment mechanism no longer gets to them, and the customer still pays the old way...
That's not how this article reads, I think the right course of action would be to make the depositors whole and let the bank fail.
30 mins is too long. Should be no longer than 15. Split the standup team up or put people on a pitch clock.
Eh, I’d expect it to be slower if anything. Think about it like this. If you write an image renderer, bitmap would be the fastest, because it’s already decompressed. 4-bit quantization is a compression algorithm.

It depends on the details of memory bandwidth vs compute though.
I have a hard time seeing his 3 and especially 2 are even that bad
The government can decide to violate any freedom you think you have at any time for any reason regardless of what any law may or may not say. Freedoms are social constructs, nothing more. They exist to the degree that people believe in them.
That should be lucrative for ASML, losing the huge Chinese market. /s
this was my reaction too. but TIL a lot of people around me took it seriously
The article is talking about bailing out SVB, which in turn can then make the depositors whole.

This is like arguing that if I screw up my investments and put myself in a bad position that the government should bail me out for the sake of everyone I owe money to.
Tesla’s facing strong competition, losing marketshare, and has a number of legal/regulatory problems related to quality control and material misrepresentation about their full self-driving feature.

Twitter lost almost half of their revenue, has notably more downtime, and needs to be considerably more profitable than they were just to make up for the massive debt load Musk added.

⅓ isn’t such a great score?
Like someone pointed out on here, SVB also provided personal banking to high net worth individuals in Silicon Valley. Such as...startup founders and VCs.

So in either case - payroll resumes normally or is paid from personal assets of company directors - some employees might have to wait for things to be sorted out at SVB.
> Over exposed to US treasuries? I don't think anyone has put those words together before.

Only if your definition of risk is limited to default risk.

It looks like a lot of their holdings were in MBS and a lot of the treasuries were recently sold at losses (which necessitated raising capital, which appears to have set this whole thing off), but there is no reason this couldn't have happened if they only held treasuries anyway.
Honour system for the financial industry. What could go wrong.
Ask HN: Who / is anyone going to jail over SVB catastrophe?
SVB collapse looks like a clear case where people made reckless actions that hurt many other people. The people who are responsible are easy to identify so they can be prosecuted. Is this going to happen? Or is SVB management insulated from this?
200bn assets is a big bank. Lehman was 600bn and look what it caused.
I think "massive bloodshed" is more likely to make things worse than it is to fix them.
Transparent solar cells.
https://www.nature.com/articles/s41598-022-15352-x
I think this is far more interesting than Fast Company speculation.
Simple: other forms of theft lead to violence immediately
It’s also written somewhere that I’m subject to a king, so I’m not really free anyways.

Also I don’t actually own any land. It all belongs to my king. That’s written down too.

This is actually a really fascinating subject but not for a Friday night. Long story short: what’s written, and what actually is, are often quite different. I find my American friends sometimes freak out over the “but they could take your freedoms away!” when they read about stuff like that. Well, yeah they could do anything. Like make secret courts that ignore constitutional freedoms.

I think it’s healthier to be aware that it’s all a social construct that demands political activism.
Why do we let banks play these sorts of shell games? If they are holding an asset worth $0.80, I don't see why we allow them to claim it is worth $1.00 because that is what they paid for it.