skysight-inc/HackerNews huggingface dataset:
"Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law."

Yeah, all corporate customers that have seen an FDIC charge on their statement, based on Q-end balances will have a "special" laugh at this. It's going to be passed through and not be bourn by the surviving banks - that benefit from this 'bailout' of their customers....
Senior management is going to have their recent sales of millions of dollars and significant percentages of their stock and the bonuses they received hours before the FDIC took over reversed? Because otherwise they weren't really "wiped out" or even close to it.
There has been so many great reply to this comment already about how the lack of empathy is directed at the financial system itself rather than the small businesses and individuals directly impacted. The other thing that make it hard for me to have sympathy for a government backed solution is what makes these small companies and individuals anymore worthy of being 'bailed out' than any other small business that finds themselves unable to operate because of situations outside of their control or factored risk.

I don't see VC's and tech workers screaming for the government to step in when it's blue collar or service businesses failing. Thousands of small business with 5-20 people on payroll fail every year because of things outside of their direct control. I know small businesses that had to close doors because they got fucked over by things like landlords going bust and suppliers with half payments and no goods delivered collapsing. It's shitty for any small business to fail because of broader issues outside of their control, how is it fair to label this as anymore worthy of assistance?
Sure - see if you can soothe your misery by spreading it around to your coworkers.
Self Radicalization with open sourced AI-Systems
This isn’t bailing out the rich this is businesses. If you want businesses to not exist, fine. I suggest you find some communist utopia and go live there.
> broadcast that FDIC insurance is essentially unlimited

Shouldn’t it be? The government is in the best position to regulate and manage the risk of these institutions. We cannot expect average depositors to be financial analysts with the capacity to assess financial institutions.
Mostly just LSP integration. I didn't really feel the need to manage my email or filesystem with Emacs. Even git I prefer to use on the command line than use an editor/IDE plugin for.
There is room for other interpretations, but I'd say if it's super common for people to not know something, which appears to describe this, it doesn't meet the definition of basic.

I'd say "basic" shell knowledge is that commands or programs produce output which is where many stop and why it's common to use cat this way.

In general I tend to err less on the side of "you're holding it wrong" gatekeeping in tech and when there's a common issue with something, blame the tech rather than the users. Maybe the way shell handles input, output, and redirection isn't intuitive and poorly designed. For those that already know there's an ego thing going on condescending to users who haven't learned as much that prevent honest or productive conversations on these topics.
What happened is literally what you're asking to happen, and literally the opposite of what you're saying happened.
Ugh yeah, I honestly find it really demotivating that I share an industry with these people. Unbelievably, they have managed to be even more insufferably disgusting than the bankers during the GFC. I would have never believed it possible.
Also been thinking about this. If you look at this article, read section titled “money creation process” https://en.m.wikipedia.org/wiki/Fractional-reserve_banking

If I deposit $5 in my bank account, and then the bank keeps $1 in reserve and lends out $4, then they just added $4 to the money supply. I can withdraw my $5, and the loan-taker can withdraw their $4. This is possible because there’s a reserve pool of money which is not loaned out, and because people tend to just leave the money in their account.

At least that’s my understanding. Happy to be corrected
Is that exactly what the person I replied to was complaining about?
Destroying the depositors in SVB is not the way to go about lowering housing prices. Please figure out for yourself why that is true.
> When you can't get electricity for your e-bike, it's a large, heavy, but still functional bicycle.

Not mine. It has pedals but they are not enough to actually make it move, except downhill. It has a fixed gear ratio.

And there are plenty of e-bikes with no pedals at all.

> I've also never heard of having no choice but buying into a predatory 20% APR loan to buy a bicycle.

You are not required to do that with a car either.

> Collapse those supply chains, and modern America would be uninhabitable without the automobile.

The automobile is the least of your issue. There would be no food or water either.
Yeah...there's been so many papers that have been redacted for bad science that have been displayed here on HackerNews that it's disheartening. The largest startup bank goes bust because startups can't do the math, and people are claiming miraculous breakthroughs in medicine and hard sciences. And they're both on the same page - I know that the comments section is automated, but it's automated tone deafness. Maybe post this again when it's replicated?
I’m speaking of the state of being high not of the word. I expect even native English speakers to not be aware of all or even most colloquialisms. I certainly don’t.
But they benefit from the upside. It's their gamble, not ours.
You can't hedge something that is likely to happen in a cost efficient way. Yield curves are predictable.
$15.5B market cap Wednesday to S&P500's ~$32.3T. If you held the S&P500, you lost about 0.05% when SIVB got zeroed. In comparison, S&P500 was down 1.45% Friday. (Almost all of the impact to your retirement from SVB's failure will be from indirect effects, like downswings in other bank stocks, rather than direct losses from SIVB. Unless you held a highly concentrated position in SIVB.)
>If those deposits are guaranteed by the government, and backstopped by the government

"Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law."

Does this mean all American banks (indirectly bank customers) will pay to cover depositor losses that exceed insurance funds?
https://arstechnica.com/science/2023/03/room-temperature-sup...

Good article that contextualises the results and concerns about the lab that published these results.
I tend to disagree with some of the top comments here.

I was in a similar spot as well, "sucked it up" for way too long until I started interviewing for new jobs and realized that there were many, better suited jobs (better fit) for me out there. (Salary upgrades too)

There are many places that are more "flat structures", where it's encouraged to take decisions as a group. No one is an official "lead/architect/decision maker": we're all happy to bounce ideas around and ask to the ones with more experience in the revelant areas for advice.

When interviewing, you can ask questions around this specific issue as well to find the right places.

Where I work right now, most devs share the same feelings as you towards "architect" roles.

Software is a craft, not an exact science.
Both of those are freely available… the limit is resources not knowledge.
Equity, currency, that's all stuff we made up. Accepting them as real means using our courts and banking system.
The President never used the word “bailout”. And that’s because this is not a bailout. Taxpayers aren’t on the hook for a penny, and the money is going to depositors not the people who caused the problem.
Here’s POTUS being okay with it called a “bailout”. Can we move on to discuss substance?

[0] https://mobile.twitter.com/POTUS/status/1635080376572956672
Mostly recording and replaying the network request logs through Chrome and comparing diffs as I clicked around, looking at headers and URL params generated from clicking to get a high level picture for how it all fit together.

They didn’t do anything fancy in terms of auth, etc, so the only thing that was challenging was guessing some additional parameters and formats for things like number of nights, etc., once I had the basic structure.

Once I had a basic search working, the rest of it was pretty straightforward. It works for other hotels that use this booking software as well, but I didn’t bother to go down that rabbit hole much further as I didn’t want to encourage adversarial techniques and I only need to use it a few times a year.
what’s stopping a bank from making really risky loans, give super high yields? Everyone will go to that bank since there is no risk to them?
This may help you quiet, or train, Little Snitch...

https://tailscale.com/kb/1082/firewall-ports/
I wonder how many immigrants have been involuntarily in camps in the US? How many Japanese?

Your effort at deflecting is adorable
But the technical details would make him identifiable?

Although I agree with you, as it is, OP is just bragging about the effect while we're looking to be impressed by the technical details of the hack.
I should have clarified... I followed my partner to St Louis, MO for 1 year so she could complete her fellowship. We're trying to figure out where to go to next when she's done.
not sundar pichai, but someone like Larry fink is certainly an oligarch. He's also had access to the inner core of the establishment.
It's the one banks and regulators use, though!
In case anyone else is also wondering what the letters "N.A." stand for, it actually stands for "National Association" which means it is a bank chartered by the Office of the Comptroller of the Currency ("OCC"), rather than a State.
It takes two: demand provided by cheap money, and supply capped by NIMBY zoning.

Neither alone is enough.
Asking for equal treatment of the law as it is written is hardly a blood thirsty call for execution. It’s a call for fair treatment for all. Not special handouts to favored entities.

The actions of the Fed plainly stated that the rules don’t matter. Take risks, fuck up, and no big deal. We’ll just magically save everybody.
Yes! A magnet is an extra step, off the critical path. One needs to add soap eventually; why not use it as signal? This is the same principle I keep trying to explain to my college: Data should be entered ONCE then sourced everywhere needed.

This is my system for my work apartment. My wife rejects it at home, for reasons I don't understand well enough to relay. I go along, I want to stay married.

On that theme, why is this post about emptying a dishwasher? The crucial issue in most good marriages is how to load the dishwasher. Emptying is pretty obvious.
The interview is to test for membership in a cult. There are other places you can be paid to code and design software that doesn't require (or even actively disrequires) being a cult member.

...or at least not a member of that particular cult.
> It just implies “I’m only looking at your keys not your values”.

That's what `unknown` is for. `any` behaves like `never` (in covariant positions), which is exactly the opposite.
I’ve read all the subthreads and want to cut to the chase here (because I think you’re being hyperbolic): you need both.

You need a decentralized philosophical and technical concept of identity. Nobody owns who you are except you. Self-sovereign ra ra yay.

But we also need to be able to integrate this self-sovereign identity with organized systems of shared sovereignty (gov’t). It’s silly that in 2023 I can’t oauth against id.gov using webauthn and obtain a signed assertion containing my SSN, or that I don't get a digital certificate alongside my physical drivers license, for instance.
The issue is that the "average depositor" is a Silicon Valley venture capital funded startup, or in other words, an investment vehicle for wealthy venture capitalists. SVB was not a "mom and pop" banker.
Of course some of the startups banking there were not themselves wealthy (yet), though some of them were. But in general, that's the goal of these startups, for both the investors and the founders, to go big or die trying, in contrast to a small business, which may remain relatively small forever. The ultra-wealthy are the primary beneficiaries of this startup system, regardless of whether any particular startup happens to be making a lot of money at the moment.

There's a reason the FDIC only guarantees $250K. That's enough to cover mom and pop. Moreover, depositors who were over $250K were very likely to get a substantial portion back, sooner (with advanced dividends) or later. It was never going to be a total loss, regardless of bailout.

Making every depositor whole comes at a cost. It's a bit of a copout to say that taxpayers are not funding this, because taxpayers are customers of the more responsible banks who have to pay a fee to cover the cost. The costs will get passed along, just via a more indirect route that attempts to cover the political asses of Biden, Yellen, et al.

The lesson here isn't that individual startups should have chosen a bank more wisely. It's unclear how that was possible, or how they could have predicted what would happen. The lesson is that the entire SV VC community is too small and insulated, both geographically and culturally. There are too many eggs in one basket.
Vim Best Practices for IDE Users
Clearly some time before they started selling off their shares.
SVB made loans to cash-rich companies approximate to their funding rounds, when they were least likely to immediately use the cash. These loans typically required the company to hold the money as a deposit in SVB. These deposits were used to buy long duration bonds.

In other words, SVB used these companies to produce new money that they could earn interest on.
The odds that 100% of businesses each decide to pull their money out of the same bank at the same time is less than 1% of businesses who invested at the same bank pulling out their money. Especially if they are in the same industry and know the same people urging a sudden withdrawal. Maybe even mostly located in the same geographic region.
Adding the dash fixed it for me: cat mario.nes - | nc play-nes.org 4444

However, while i got the game to render, I couldn't get the game to respond to controls after that, so YMMV
Droplet-Based Microfluidics
I don't know why this saga is still ongoing. It is a known fact that Samsung enhances the quality of known objects in images with AI. They literally advertise this.
Power saving on lab setups when nobody is using them. they have google calendar for booking. so a daemon looks calendar every hour, if no booking, turns off outlets (the power supplies are remotely controllable over telnet).
> And there are plenty of e-bikes with no pedals at all.

That's a moped, not an ebike.

I agree with your points about car loans and supply chains, though.
Hey, sincerely sorry to hurt your feelings. I was trying to explain to you what everyone is seeing in your series of comments. I will think how to write it better next time (or just not.)

I appreciate the irony of coming across wrong in an attempt to tell you how you came across wrong. :)
By the sounds of it Ngroks pricing is out of control. They used to allow commerical use for individual developer subscriptions, why not now?

I recently launched Tunnelmole, an open source alternative. You can just run the client and then you don't need to worry about NAT/CG-NAT, port forwarding or running your own server unless you want to self host, which is possible because the service layer is also open source.

You can get it from https://github.com/robbie-cahill/tunnelmole-client
It's the state giving itself no bid contracts. There's no financial risk (except to the buyers) and the officials who secured it get the money. The buildings aren't made to a high standard because there's no accountability for when they fail. The officials who would hold them accountable are the ones who assigned the nobid. The people who got it built already made their money.

Thats what ghost cities are about. CCP financing cities almost no one will live in to make money off the no bid contracts. People buy property in the ghost cities to move in and/or as an investment (its government-secured right? what could go wrong?) but then housing prices crash (because supply far exceeds demand), the lower classes are left holding the bag and legally prevented from refinancing. So they're making payments on a property that they bought at $300,000 even though it would only be worth $50k if they got it appraised & refinanced.

It's only possible if the government is also the bank. It's a totally conflicted situation.
It's "N-(queens)", not "(N-queen)s"
I'm nursing a small fleet of CentOS 7 servers while we finish up migrations and upgrades this year. Most of these servers need certificates, but the built-in certbot package is really brittle (if not actually broken) depending on what plugins you might need to use. So I wrote a short wrapper script that handles everything for me:

https://gist.github.com/xenophonf/893b323b99644290fad420a54c...

It keeps the custom certbot install updated, and if anything goes wrong—and only if something goes wrong—I'll get an email thanks to chronic. Same goes for the install command outputs when running the wrapper/certbot interactively. You'll only see error messages when something breaks. Otherwise, it looks exactly like certbot was invoked directly, just with a short delay while the script does the install/update in the background.
Their 2021 bonuses? What about their 2022 bonuses that were paid our hours before the feds took over the bank.
Again, what presumption of innocence? The bank failed, they should have to give up the bonuses and stock gains. It should be statutory to prevent a moral hazard.

> medieval practice

Calm down, no one said we should hang, draw and quarter them, exile them, or do anything untoward. It's a capitalist system, and this is a capitalist penalty.
For me the picture is Pilotwings 64.
The two major regional banks in Northern California are San Francisco based First Republic and San Jose based SVB. First Republic specializes in HNW Personal Banking, while SVB historically specialized in small business banking. The same issues that hit the VC industry rn with SVB are hitting the Wine Industry in Northern California as well because they primarily worked with SVB because SVB specialized in SMB B2B in NorCal.

Different banks target different personas. There were a couple other regional B2B Banks as well but they all mostly died out in 2008 and SVB was the last one left.

Also, historically, San Francisco and Santa Clara Valley (what is now known as Silicon Valley) weren't that closely integrated until the 90s and early 2000s (less of a NJ-NY type relationship and more of a DC-Baltimore type relationship historically)
You can sell USDC for dollars at other exchanges, no need to go through BTC/ETC/whatever. For example Gemini has a USD/USDC pair. It won't be pegged to a dollar, like if you redeem through circle but getting $.99+ on the dollar is probably good enough for a lot of people.
Mopeds have pedals, hence the ped part of moped. Scooters do not have pedals.
The entire regulatory system encourages mega-banks. The entire “too big to fail” concept encourages it. Complex regulations benefit those who can afford the legal costs of compliance. Dodd-Frank probably made this outcome more likely.

The role of the government in letting this happen has been under-covered so far. Weren’t they supposed to be overseeing things, stress-testing banks, etc? Regulators either were not looking, or were looking but did not notice. Regardless, there is not much sense to the argument that the government is “stepping in” tonight, because it was always involved.
How close to a bomb would a device like this be? Feels like very close.

Or maybe more importantly, how much of my desk would be left after it went off?
Every time I've used one I've thought the same.
I believe Circle announced more partner banks in a recent tweet.
I have one! I made a Mac application to automatically turn on my webcam light whenever the computer’s webcam is activated. It’s a little buggy, but I still use it every day!

https://ragnar.framer.website/
Morbid question, but if someone dies while waiting, are they included in the “average wait time” statistic?
Do you control the photovoltaic cells production or the lithium cells supply chain?

Probably not…
Agreed are there good tui library in haskell
Disliking the industry does not mean you can't find a space where you're contributing to something you believe in.

In my opinion, the industry has been downhill since FB blew up and started abusing its power, though I wasn't around for the dotcom/Microsoft era so that's just my experience.

I absolutely loathe the vast majority of large tech companies, and that's only gotten worse (especially in the last 5 years). I outright refuse to work for companies (that I percieve) that are primarily involved in data collection/privacy violations, as I'm sure a lot of developers would refuse to work on weapons systems.

That said, I'm growing more and more jaded, and wondering how best to focus my efforts. This has lead me to take jobs at smaller and smaller companies, heavily impacting my income, but at least I'm not actively working on projects I despise. I've also found myself spending a lot more time on personal or contributing to open source projects that push back on said projects I despise (largely privacy related).

Not to say everyone is in a position to do that, but I do think we should be more conscious of what we're helping to build. Focus your efforts on projects you believe in, and be willing to push back on those you do not. This is not going to solve anything, but as the crowd grows larger we'll hopefully create enough noise for others to take note.

(this is all very subjective, take my comment with a grain of salt)
In my student days I bought and sold a lot of stuff online on a marketplace website that I guess was like Craig's list. The default sorting was by "recently posted" and your ad would very quickly get bumped off the front page. You couldn't post duplicate ads, so I made a Python scraper that would download all my ad text and photos, delete the ads, then recreate them, which meant I could stay on top of the page whenever I ran the script (which eventually I ended up running as a cron job of course).

Dunno if I'm proud of it, but I sold a bunch of stuff, most of which I'd bought by having other scrapers on other sites alert me when ads meeting my criteria were posted.
What's the point of cake if you can't eat it? You'd have to start charging for having the cake.
The current practice of limited investment is reasonable and helps keep the system self funded without much in the way of account fees. It's not as if banks are investing the funds in the equity market. Appreciate I'm commenting from afar and without emotion but these failures are normal. This kind of chaos makes the system stronger. And I think most commentators can agree that this is largely a symptom of a swift increase in the repo rate shortly after significant bond purchases by SVB. There are lessons to be learnt but I don't think if you were sitting on the SVB board and were part of the decision to purchase these low risk bonds did you in any way think it would lead to this outcome.
I mean the government paved the way for this indirectly by disallowing safer banks.

https://www.bloomberg.com/opinion/articles/2019-03-08/the-fe...
That's why with all this cheap money, computers are more expensive than ever!