skysight-inc/HackerNews huggingface dataset:
There are other banks that didn't make the official list, but effectively should have.

National City Bank was the US' 7th largest banks. It didn't "fail", but the US Treasury gave another bank, PNC, $5.7b in a capital injection to buy it in late 2008.

https://abcnews.go.com/Business/story?id=6107696&page=1

https://www.cleveland.com/business/2008/10/national_city_mov...
> Most other US banks are just as exposed to long term bonds and mortgages

And maybe that is the crux of the issue here?

https://www.cnbc.com/2018/05/24/trump-signs-bank-bill-rollin...

“When the president signs this, we put community banks back in the mortgage lending business, which is really exciting for me,” Sen. Heidi Heitkamp, D-N.D., told CNBC on Wednesday.

"exciting"

> Which fractional reserve bank is actually safe from a bank run?

No FRB is 'safe', but the people who hold money in there are safe as long as they are managing their 250k risk...

https://www.intrafi.com/solutions/depositors/
I live in the north US. Kids are already going to school in the dark for a vast majority of the school year. In fact, it’s just recently been getting light at the time to go to school, and tonight that will be pushed back to pitch darkness for another month or two.

Or, to put it another way, switching isn’t making this specific issue better.
Arguably this guy's portfolio is already better than most new CS grads, no?
Almost all logic today is done using CMOS for power reasons. The 200+ GHz stuff is all BJT, which while remarkably fast and less noisy, is generally much more power intensive (orders of magnitude). This makes BJT based designs useful for small to medium analog / RF blocks but not useful for designing a full blown modern microprocessor.

This process integrates both (pretty difficult to do for various physical process reasons) which allows you to combine the CMOS for things like power control and logic alongside the BJTs for extremely high speed analog circuitry.
Can they buy oil with their own currency? No, they have to use their currency to buy USD and then buy oil.

If they get a deal with an oil selling country that says otherwise, USA sends in the army (usually to the seller, not the buyer).
I’m guessing it was automatically bought by someone looking for these errors?
The moral hazard of trusting a licensed bank? Do we want depositors to be hesitant to do that? The Fed won’t even allow “narrow banks” (that keep a 100% reserve ratio and cannot fail) because they think it’s crucial for our deposits to be available for loans and bonds.
Thanks! I'm talking something /much/ smaller. Probably... 25km^2 at most. It, thankfully, won't be nearly that complicated.
When taking financial advice from this site, remember that green in the username means "go ahead and do what some stranger told you"
wow, this makes me wonder if human intelligence, or just biological intelligence, is based on how many parameters an individual can float and access.

I wonder if there are learnings for how to measure intelligence, just from proliferation of these AI models. Maybe even learnings for how to more efficiently access biological intelligence.
Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.
What's not clear in:

> "should" sus
point taken but also shrug -- if the machine turns up a pattern, you get it redone at a real lab
This is 100% happening, we need these pills tested in a lab. My bet is they are likely thinning it because the demand is too high. The DEA will not approve the new limits because of "The War on Drugs" is being revived.

I was switched to Teva at same dose this past month because of the shortage and it does not work at all. Its very frustrating, like getting your wheel chair and realizing it doesn't have wheels.
Because the nearby pixels are not clipped.
Interesting. Wish I had access to some tools to take a look of the option market data.
... and sells it ASAP for any price, as long as it's more than the cost of the pizza. No need to wait until tomorrow to get market value when you can recover your losses today.
Such a banged up machine but 28 years that's understandable. This made me dream, for a moment, that somewhere out there there is (perhaps forgotten?) box with this exact laptop that has not been opened just yet. Can you imagine having a blast from the past by actually being a person that unsealed this 28 years-old box for the first time.. using your nostrils to pull in that distinct smell of a brand new parts being assembled together... wonder how much a box like that unopened would cost...
Is there a diffusionbee or mochidiffusion equivalent apps for this yet?
That's to my point though: there's not going to be a fire sale.
I would say yes.

Legal status of stuff doesn't really affect the demand, it just affects the regulation or should I say, if it's illegal it's not regulated.

If someone wants weed or mushrooms they'll find a way to get them regardless of their legal status.

Although it's been many years, I do speak from experience.
Their UI update to solve this is quite mediocre - doesn’t show what the original price was nor the difference, just that there /is/ a difference. Crypto UIs are incredibly bad.

https://twitter.com/KyberNetwork/status/1634551349991063553?...
I do this too. I've been locked out of a bank account for a week or so because something in their system flagged a review. A tiny blip like that can be really impactful on handling day to day expenses - it makes sense to have a backup.
"what powered Europe's economic growth in the 18th century, let me know"

The growth in 19th century is much more explosive, and I would say that the primary reason is widespread use of coal for energy. Not being dependent on the power of muscles (and wind) was a game changer for Europe. And absence of that capability put a hard limit on Roman economic power. You just don't gain much economic efficiency from burning wood and working people and animals to death.

Economic development in countries that were able to harness steam power was enormous regardless of their slavery laws (some notable industrial hotspots like Prussia never had slavery to begin with). Countries like Portugal and Spain, with their old colonial empires, were much more stagnant.

Generally, slavery only sort-of works in agriculture and possibly mining. Anything more value-added requires voluntary, educated workforce. Nazi and Soviet slave-powered industries were extremely inefficient, sabotage was a constant problem, even though punishments were heavy.
> Almost all customers of this bank are Silicon Valley tech companies and startups.

I.e. "high-risk businesses that did not assess the risk of their bank (or banks) properly." That's not a good reason to shift the risk penalty to the taxpayer, IMO.
45min interview with him in prison https://www.youtube.com/watch?v=Xwdkng6ZGp8 I have no doubt he's guilty. And crazy, like more crazy and dilusioned than I expected (that's not why he's in prison though).
I put the PDF here: https://drive.google.com/file/d/1zuhtb2eALTqONJEe4yeeajX7ltS...
You’re right. I overlooked this and was under the impression Circle would just pause exchanges. Their announcement to resume monday at 1:1 changes the game. Wish they'd just wait it out to give everybody a fair shot. Hopefully even in the case of bank run they'd stop the show when they run out of liquidity and preserve the cash in treasury bills at least till maturation.

Anyway, for people wanting to get out they can always use Uniswap against GUSD or DAI!
From what I read it doesn't seem like a good idea to take psyllium husk together with other medications. They seem to recommend one hour or two of interval between it and other meds. I don't know if it's just doctors being cautious, though.

I usually take Vyvanse just by itself at around 7AM just before walking to the gym, so I guess I associate the effect kicking in to my walking back home. On the days I ate something together with it, or specially with Psyllium, I notice a diminished effect
Lots of people far wealthier than those bankers who will lose money here.
> AFAIK Adderall is not prescribed here.

It is, depends on the psych really.

I know a good few in the UK on dex, or amp salts, or whatever.
From the headline I thought maybe they had accelerated the bonus payout schedule to squeeze money out of the company before the collapse, but the article says it was scheduled long ago:

> What to know: The bonuses were for work done during 2022, and were previously scheduled to be disbursed on March 10. That date ultimately coincided with the bank's takeover by the Federal Deposit Insurance Corporation.

Furthermore, bonuses that were scheduled later in the month weren't paid out:

> Bonuses for employees in some other countries were scheduled for later in the month, so those haven't yet been paid.

So while the headline sounds bad and is likely going to generate outrage, this really just reads like normal payroll processing was happening on schedule.

Note that payroll would have been coming out of a completely different bucket (e.g. not from customer reserves) and would have been submitted for processing prior to March 10th in order to be disbursed on March 10th. Also note that bonuses are an integral part of compensation, so withholding already-earned compensation from regular employees (the majority of which had nothing to do with the collapse issues) is an unreasonably punitive idea.

So basically, the timing was coincidence unless someone can come up with some weird evidence that bankers delayed the collapse just long enough to get their bonuses, which seems far fetched. The collapse was triggered when they ran out of liquidity due to customer actions, which they couldn't have prevented.

There's a similar outrage-bait story circulating about executives selling stock prior to the collapse, but that was also pre-scheduled sales that were planned long in advance.
Could the government set up a 0% short term loan system, accessible to anyone on the customer list, backed by the “assets” they have at the currently frozen bank?

Kind of a, “you can’t currently take all your deposits and run, but you can at least pay your bills.”
Take china for example, How many families/people/children were tortured and killed when the japanese invaded manchuria. That is an invasion, you may say, it does not count, ok, Now look at how many more than that were tortured and killed in chairman mao's cultural revolution.

The scale at which modern governments operate makes all of organized crime look like child's play. The quote "A single death is a tragedy, a million is a statistic" Is particularly apt here.
Does quantizing the models reduce their "accuracy"?
> My personal problem with Stable diffusion moment is that nothing practical came up from that momen

Before Stable Diffusion democratized image generation, Very Serious People across the industry claimed that unless they and their friends exercised strict control over the kinds of images people generated using AI, society would collapse, the sky would fall, and it would all be over. After that, the public gained access to diffusion models for imagine generation, and the sky did not in fact fall. These prognosticators of doom are wearing egg on their faces.

Likewise, today, the intelligentsia is predicting DOOM! DOOM I SAY! if LLMs become available outside the close supervision (and censorship control) of San Francisco trust and safety teams.

Democratizing LLMs will further delegitimize claims that some central authority needs to control this new technology. This is great! When the printing press came out, it took a hundred years to democratize it. It'll take us ten months!

The single biggest benefit of projects like llama.cpp is annihilating claims on the past of gatekeepers that for our own safety we need to let them control how we use math.
Someone wasn't doing their job
Long term capital gains tax on the wealthy is 20%.

About the other point: IRS will come after you even after many years have passed so its a dangerous game of chicken to even attempt.
$ bundler
$ ./bin/coltrane

? Welcome to Coltrane 4.1.1 (You chose: notes)
? Which notes?
> C E D F G A
? How to display? (You chose: Guitar)

-> coltrane notes notes:C-E-D-F-G-A representation:Guitar

[[ omitted ]]

? What to do now? (Choose with ↑ ↓ ⏎, filter with 'f')
> 1. Different notes
2. Different representation
3. Go back
It became so steadily imprinted into minds of developers that very few realize how nuts it all is. Back in 2000 nobody in their mind would take seriously these perverted constructs loaded with footguns to create a form. And even if you are aware of what’s going on, this thing itself struggles to solve trivial tasks in non-twisted ways. Sigh.
There's nothing stopping _you personally_ from purchasing insurance on your $5m at the bank from an insurer (or reinsurer) instead of socializing the cost of insuring higher-valued accounts on everyone else.
Yes, the timing of the sale and raise it suspicious.

The existence of the article only hurts and not helps the insider trading accusation.
Sorry, I hadn't seen your message. There is a law prohibiting caste-based discrimination. For university admissions there are also quota for low caste, casteless and tribal people, meaning that a certain percentage of places is reserved only for students belonging to those groups
it already exists. in europe too when you call a customer service you will almost never end up with a human. obviously beside the cost aspect the main idea is to remove your right to appeal. even the governments are doing it!
What? Hell no. Spend a decade claiming that the Fed made the worst decision ever with bailouts (and other similar "libertarian" arguments) and now beg for a bailout at the first sign that you aren't printing money, after a decade of swimming in cash leveraged off of free money?

If you VC's are as smart as you always claim, YOU bail out the companies deserving of it according to your galaxy brains.
By slightly devauling every other dollar in existence.
Privatize the profits! Socialize the losses!
But, do we know that they actually model completely accurately?
I'm a biochemist, and I somewhat disagree with this take.

Yes, it's true that modelling just a single cell's interactions with its environments is beyond our capacity.

But here we're talking about simulating how a brain reacts to signals at a higher level of abstraction: we're studying an "emergent" phenomenon. We don't need to model molecular interactions, and we absolutely can model this using artificial neural networks.

This doesn't mean we'll be able to completely accurately model its behaviour, but we should get a lot closer than many HN commenters seem to believe. Biological neurons don't have magical properties, they just have more side-effects.
Some people are saying "gotcha! you can't redeem" as if that's a real problem and Circle is clarifying that you could never redeem on the weekend.
HN is constantly pilling on EU for being a poor place for inovation and startups, but all it takes is one bank to fail for the whole house cards to start collapsing. And what a symbolic name.
States twice that it's not asking for a bailout.

Then asks for a bailout.

Then the same group of people who brought us such hits as "move fast and break things" and "disrupt the economy" ask for more regulation. For other people.

Peak SV bubble hubris.

Anyone who signs this just demonstrates how tone-deaf, privileged, and insulated from the real world they are.
well, at least they are aware they merely discovered this. Because so could I, in fact I am well (ok, not so well) on my way to also discover those same ideas, except I'm not at Princeton nor anywhere near it.

thanks for the tip on the geometry of musical rhythm book. I was aware of the other one but not this one.
This book was extremely influential on me during my formative years.
They are at risk because they did not take out the insurance they should have for the money over 250k. Sorry no - that’s on you.

Take the haircut in your funds and move on.
"the old microscopic will become the new macroscopic and we will realise that there is yet orders of magnitude more details to make sense of."

That's already the case.

Below the neuron level is the molecular level.

Below the molecular level is the atomic level.

Below the atomic level is the subatomic level.

The last of these is still in the process of being explored and understood by physics, and there it might not even be possible to measure all there is at that level, much less make sense of it or adequately model it.

As Roger Penrose famously pointed out, events at the subatomic level might be critical for consciousness, and we're very far from modeling even all the molecular interaction that happen in a human brain, nevermind the atomic or subatomic interactions.
There are two stories circulating around SVB.

(1) That it is about their investments in bonds going bad because of increasing interest rates

(2) That (1) is the straw that broke the camel's back but the real problem is that SVB has a lot of bad loans on their books.

If it is really about (1), well, lots of other banks have a huge exposure to bonds too and other banks could be affected too.

We'll see how it plays out in the next week and beyond.
> I do wonder though how did people deal with these problems in the past

Children get beaten for not sitting quietly, men who can’t hold down a job become homeless and die on the streets, women become dependent housewives and get beaten for preparing dinner wrong… The past was not a great time to have mental health conditions :P (The present isn’t great either, but at least we’re no longer burning people at the stake for being socially awkward)
> Every treasury instrument you can buy today

Treasuries don't even need to pay more than a savings account to be the rational choice as they aren't subject to local/state income taxes. That's a bigger than average advantage in California.

Add to that no $250k limit either.
see also:

https://www.janelia.org/project-team/flyem/hemibrain

and a competing effort:

https://www.nature.com/articles/s41592-021-01330-0.pdf
As an aside, this is a curious situation that points to capitalism (in its current form) being something of a continuation of aristocracy but by other means:

> "Some employees can't afford to buy their equity at all, so that when their startup is acquired or goes public, they earn nothing from the outcome, looking on in silence while their colleagues become millionaires. The people who find themselves in this situation are, of course, disproportionately those who work in lower-paying roles, and who don't have family or friends to borrow from."

A society in which each person is given something like a 'equity stake' at adulthood might work. It would be their decision as to how to use it - buy equity in a startup, pay for a college education, start a small business, etc. Maybe certain limitations on frivolous activities would make sense. It's similar to universal basic income, but more delivered in one chunk rather than as a pittance spread out over time. It would create a much more even playing field while still allowing for competitive success stories.
I've used Mozilla SOPS on many projects and I highly recommend it. I'm not quite sure why, but it just doesn't feel like it gets the recognition that it deserves, which is why I'm happy to see it here on HN.
Is a bookstore maintaining a collection or getting rid of books as fast as possible (for cash)?

Even a rare book store would glady empty their entire inventory for a price.
No, you can provide the state setter, setItems, with a new copy of the state object itself. Doesn't need to be a function.
> Everything is setup to protect the powerful and the wealthy

What was it that judge said? If they were to go to prison it might affect them negatively.
I like the way this instantly produces PDFs. Very slick.

I'm not sold on the math because it doesn't seem to take into account connecting flights. At least, it does not seem clear that me in SFO and my colleague in KEF should meet in Yellowknife, NT, Canada. It's an airport neither of us could reach directly on commercial flights. Considering they would need to fly the wrong way to FRA first, it seems like MSP or YUL make way more sense.
This doesn't say "executive bonuses." I would not be surprised if SVB employs customer service teller-type-people making $60k/year with an annual $5k bonus, and this headline would be consistent with such people getting their scheduled bonuses paid on time. The headline says nothing about what the compensation level or responsibility of the people getting paid bonuses was.
Referring to his father as such is an appeal to authority and is only relevant to back the idea that he came from a well off, if not wealthy, family.

I don't think I'm doing him a disservice. He's the one who wrote these things. And a lot of my sentiment and response comes from reading bits of the posted book. Categorizing his writings as purely explorations is a bit of a cop-out because, from what I've read so far, he seems to be rather consistent in his so-called explorations.
CEO Bob Iger: Less Is More
Covid came at the end of a decade of QE. They tried QT in 2019 before Covid hit and had to give up.

QE and ZIRP is the original sin here which created the dilemma the fed now faces - hard inflation or hard recession. They didn’t solve the GFC or Covid, they just postponed the impact and made it far worse.

I have absolutely no objection to counter-cyclical monetary policy but the monetary policy has become the cycle.
Yes, this is true and it is hard to ignore. However, I was talking about practical applications, not just general interest. There were several hype-generating stories about diffusion model winning art contest and using LLM to write grading essays, but that was it.
> To people who don't work in finance, maybe it seems reasonable to take away bonuses from employees at a failing bank. It sounds crazy to me.

If the roles were reversed and a tech company had delayed bonuses due to internal financial troubles, the pitchforks would be out against the company.

The article explains that this was really just normal, scheduled payroll processing. It just happened that bonuses were scheduled on the March 10th payroll, which had been scheduled ahead of time.

Basically, they were operating as usual and paying out the money owed to employees as they agreed to doing. They were operating like normal right up until they were taken over.

Withholding employee's earned and scheduled compensation wouldn't have kept the bank liquid.
These "mistakes" are presented as React specific but I think most of them are general programming mistakes. Or perhaps JavaScript mistakes if your please, since not all languages allow you to make all of the mistakes with mutating and using state.

For example the "Accessing state after changing it" has absolutely nothing to do with React or async code, and everything to do with the scope of the count variable and how JavaScript passes numbers by value.
2 Billion is only what they lost on the ATM portfolio. What triggered the attempted capital raise.

The unrealized loses were a further 16Billion+.

18Billion lost of a capital base of 200Billion is clearly a big deal.
I think they would choose this method to wind it down independent of whether it will ultimately be able to pay out everything. A Bank in the UK being run by the FDIC is probably not what they want.
Cascading Failure
I'm a biochemist and I think you're under-estimating how sophisticated fruit fly behaviour studies are.
The obvious fact is that we don’t need private banks to run our payment system or provide deposit accounts. It can be done perfectly well by allowing individuals to have accounts at the central bank through a postal savings system.

There is probably some value in having banks to do loan underwriting and allowing private credit creation but this whole thing if allowing private banks to run everything and then providing a federal guarantee of some deposits is absurd, just take that function away from the private sector.