skysight-inc/HackerNews huggingface dataset:
There was a more recent transaction: $3.6M on Feb. 27, "the first time in more than a year that Becker had sold shares in parent company SVB Financial Group." So, update "6 weeks ago" to "11 days ago," does it look different? Maybe.

https://www.bloomberg.com/news/articles/2023-03-10/svb-chief...
Yeah, that sounds bad.
It is using the built-in neural accelerators, that’s why it’s fast, that’s why it’s only supported on Macs so far. The code makes use of official Apple APIs which delegate the necessary BLAS calls to the available hardware.
Encouraging women to work, and go work more hours has to be one of the biggest swindles in modern society. It leads to less time to focus on children, puts more pressure on families, and gives more influence to outside factors like government, media, and businesses on children, instead of parents.

Frankly I’m waiting for when UBI can be more disbursed and people can work for useful things as they please without the millstone at their necks.
What makes you say that? It seems to be a restructuring of a supply/demand curve along a lattice. (Ironic, given your name lol?)
https://en.m.wikipedia.org/wiki/Total_order
I think what probably happened is that, for whatever reason (hubris, incompetence, some bull thesis) they didn’t sell their HTM assets during interest rate increases until it got to a point that taking a loss on them would have forced them to recalculate their reserves such that they were lower than deposits (ie insolvent). Technically they were allowed to do this because they get to count the maturity price as reserves rather than the market price. Selling at a loss at any point would have fixed the problem but force them to lower their reserve calculations and realize a loss.

Once their HTM assets’ market price fell enough that rebalancing would force them to admit to insolvency by recomputing their reserves, they literally could not do anything with them except hold and pray that they make it, which may have just made things worse. Who knows how long they’d really been underwater
Quantum entanglement doesn't allow faster than light communication
And miss the opportunity for a Friday night filing outside the news cycle?
Why would someone buy an MBS after 2008?
I noticed the Fasttext code was also surprisingly clean and readable C++. whatever moralities and other flaws the metal business model might have in general, they seem to have a consistently excellent track record when it comes to publicly available libraries and tools.
I admire your dedication! Thank you for sacrificing 38 minutes of screen time for a noble cause.
Fun fact: the catholic church considers both murder and late wages "sins that cry to heaven". If someone can't make the rent because someone else messed up it can have enormous ripple effects.
https://youtu.be/xs9hfF3UPQY?t=16
SVB had to know they were in trouble. The problem they had in some sense boils down to being caught holding the bag (they had a huge amount of securities that declined in price as interest rates rose).
If fully funded? all of them. If partially funded? part of them. Under current rules? none of them.
It's not that crazy considering we saw 10 years of 0% interest rates... well for the past 10 years. If anything it was the status quo. Only in hindsight does it look crazy.
>when the first has been trained on a slice of content for a bunch of hours and is then getting compared to wetware that's been trained for at least a decade.

Typical LLM AI has been trained for the equivalent of many person-years. How long would it have taken us to read terabytes of information?
To be clear, he likely has millions of shares of stock in SVB that are now worth exactly $0. He could end up being personally liable for SVB employee’s pay.

In general, I too hate when the “rich people” win despite screwing up. This doesn’t appear to be that sort of situation.
Bonds weren't the problem.
The financial strategy employed to use those bonds was the problem.

You can do the same thing to yourself.
Take your life savings and emergency fund and put it locked up into 10 year treasuries bought direct from the treasury.
Now go have an emergency. Good luck, have fun.
Oh well then throw it all out. Completely useless.
Could an powerful solar flare destroy all the electronics on Earth?
They obliviously missed an opportunity to call it "Roxy" and avoid the unfortunate current name collision...
I recently created an application for turning audio and video files into action points you with OpenAI whisper and GPT. Works pretty well. Have fun!
Which god? Humans have invented several thousands of them over the years.
Then again, if I had been given a cent every time I had to tell a member of my team "please, do the job we pay you for before doing the thing you find fun but have no actual business value" I would be a rich man by now.
The income from them is safe, but the value of them is not.

Same with their mortgage-backed securities.
Companies scramble to meet payroll, pay bills after SVB’s Swift failure
I think in aggregate Amazon does more harm to our society than adds value. Its "value add" and service requires the degeneration of labor rights, a massive carbon footprint, and unethical shadow-UX practices on its own website.
Yes, this may trigger many banks to sell off long term underwater assets which would further reduce their prices, incentivizing further sales. It can also trigger more bank runs that put time pressure on banks to do this. Bad situation overall
Agree. I still operate under the assumption that anything I put online will become public at some point. Thus I don’t do much online that has any connection to my real identity. I do my taxes on paper. Telehealth is right out.
This is an ad masquerading as an insightful article.

A dishwasher is overkill for a 1-2 person household anyway.
Or sneering at any prose more expansive than a bullet list of facts.
Not exactly sure your point. Sure, yes, food rots. Glad we can agree?
If the laws are so powerful then cite them.

Anyone who's been on the internet more than five minutes knows how much an uncited claim about the law is worth.

I find it very hard to believe they don't have some clause about employers acting in good faith but who can't make payroll because the payment processor had a truck number of 1, the bank was robbed that day and there was a police line or any of the other legitimate reasons processes have hiccups. And if they don't have that clause the labor commissioner almost certainly just ignores those claims until it's clear whether they're gonna shake themselves out or not.

The labor commissioner's office is almost certainly going to be slower at getting people the money than the company is (the latter is already set up to do so) in cases where the company is acting in good faith so in those cases the labor compssioner's office will best serve employees and also have the least work to do by just sitting back.
Adidas grapples with $1.3B in unsold Yeezy sneakers
I don't think the person you were responding to was claiming that. The brain plausibly having something akin to a language model doesn't imply that building or studying language models will unlock a better understanding of the brain.
"As long as everyone doesn't try withdrawing their money all at once, everything will be fine. So don't panic..."
> Who will be liable? The employer? Rippling?

To the employee, the employer. To the employer, Rippling. It's wild that, as a payment processor, they didn't have redundant rails.
At least 1% of tweets are archived on Internet Archive. https://github.com/ClickHouse/ClickHouse/issues/46145
I was surprised when it was supposed to sell for $2 but then they raised it to $10 for some reason even though it was a zombie bank.
Is there a list of prominent companies that might be affected here? I think it would be extremely unusual circumstances (for example a company that was already insolvent and living a fraud) for a company to actually have to shut down because their money is tied up here. At the bigger end, companies can find a compromise with their investors and lenders, at the smaller end, with their employees. I'd be interested to see who is really going to be screwed because of this (not just stressed, which of course anyone banking with svb will be) and why
That's not confusing, it's just wrong.

On my balance sheet, money I deposit is an asset: The bank owes me.

On the bank's balance sheet, money I deposit is a liability: The bank owes me.
> That is why the adoption of double entry bookkeeping was critical for allowing commercial institutions to outgrow a size where owners could individually trust all who were working for them with access to money.

Wikipedia tells us that double-entry bookkeeping is first attested in the late 13th century.

But commercial institutions larger than the personal-trust threshold are attested as far back as written history goes.
Why not robots?
Numbers in Excel are limited to 15 digits, no matter what notation. If you want a number-looking string yo be a string, you can quote it with a leading ' .
They had 45 billion in withdrawals before they ran out of liquidity and were taken over by FDIC, so that analysis would appear to be incorrect, since it implied they only had 80-55 = 25 billion of liquidity available.
Yup. And that was even after the FDIC limit was raised from $100k to $250k, and amazingly was even made retroactive back to January 1, 2008, to try to help those poor people out.
With ARM now in the data center, you can easily write an ARM REST server.
Would sort of hope that they had the backup for their key business function integrated ahead of time.

The delays in the article can just be the bank processing time post switch. Doesn't look like it provides the information to tell either way.
Maybe smart for orgs to do their payroll on a Tuesday or Wednesday instead of down to the wire on friday with everyone else.

Sure you get to hold onto funds for a day or two later, but it also puts your payroll at risk if the bank is failing.

(Seriously I worked for an org that changed payroll from Thursday to Friday and I’d be first to file with the labour board for missed employment payment if they blamed the weekend or bank failure for missing a payment).
> the assets of the balance sheet exceed the liabilities by a reasonable percentage

Until the FDIC pores over their books, nobody can say anything sensible about what they own, what they sold, what they sent out and what is secured as collateral.
But you'd need far less of the ignition chemical.
https://www.trustedreviews.com/news/facebook-samsung-cant-de...

Samsung for one.
They don't create money, they loan out deposits. It's not as scammy as people think. You are free to put your cash in a mattress instead.
Are there free tools better than Viewert out there?
To say what the other guy said but shorter, real (continuous) numbers are uncountably infinite because if you tried to write out a real number you'd need a countably infinite number of digits. For every desired length of precision n, there's an nth digit. Its an infinity squared. Things that do not require infinite other things just to write them down are countably infinite. Fractions. Integers. Complex integers etc. Language is countably infinite because there are no words with countably infinite letters nor sentences with countably infinite words.
4 main firms, plus 11, and many of the players located in Manhattan with the Fed making the phone calls.

Does svb have a similar client list?
Where did you find the 50% number?
I'm talking about a big red button "spam/harmful" rather than a personal preference list.

To be a little clearer: you have your own private filters and a separate, distributed block list shared amongst your friends, which is for bad content. You use the big red button when you encounter spam or harmful content, and this bad content/user/node/etc is added to the shared block list.

You initially trust all of your friends to use this block list properly, but if you find one of your friends is misusing it you can revoke trust from them and ignore their contributions.
All banks still buy and sell MBS.
Confusingly there are 2 mechanisms to do matrix operations on the new apple hardware - AMX (https://github.com/corsix/amx) - and the ANE (apple neural engine) - which is enabled by CoreML. This code does not run on the neural engine but the author has a branch for his whisper.cpp project which uses it here: https://github.com/ggerganov/whisper.cpp/pull/566 - so it may not be long before we see it applied here as well. All of this is to say that it actually could get significantly faster if some of this work was able to be handed to the ANE with CoreML.
My code for this is very much not high quality, but I have a CPU + GPU + SSD combination: https://github.com/gmorenz/llama/tree/ssd

Usage instructions in the commit message: https://github.com/facebookresearch/llama/commit/5be06e56056...

At least with my hardware this runs at "[size of model]/[speed of SSD reads]" tokens per second, which (up to some possible further memory reduction so you can run larger batches at once on the same GPU) is a good as it gets when you need to read the whole model from disk each token.

At a 125GB and a 2MB/s read (largest model, what I get from my ssd) that's 60 seconds per token (1 day per 1440 words), which isn't exactly practical. Which is really the issue here, if you need to stream the model from an SSD because you don't have enough RAM, it is just a fundamentally slow process.

You could probably optimize quite a bit for batch throughput if you're ok with the latency though.
I understand how they ended up with losses, having bought long duration securities at the top. I'm saying they were still solvent despite the losses. They just weren't liquid.
>But why would you need a private corporation to put peoples money in T-Bonds? Why not just make the government do that directly

What you're describing is pretty close to a "narrow bank", minus the "owned by government" part. The Fed doesn't like it for several reasons:

>The Fed raises three main objections. 3 The first is macroeconomic: The Fed worries that narrow banks could mess with the implementation of monetary policy, because if they succeed they will keep a lot of money at the Fed, increasing the size of its balance sheet. 4 They might also make other short-term interest rates (like fed funds) more volatile, because people who would otherwise participate in those markets might park their money at narrow banks instead, making it harder for the Fed to target interest rates. 5

>Second, it worries that narrow banks will take funding away from regular banks, making it harder for those banks to trade stocks and bonds (a business largely funded by repo), and maybe even making it harder to make loans:

>Third, the Fed worries that having too safe a bank would be bad for financial stability: In times of stress, everyone will flee from the regular banks to the super-safe narrow banks, which will have the effect of bringing down the regular banks.

https://www.bloomberg.com/opinion/articles/2019-03-08/the-fe...
> a liquidity crisis, not insolvency

Ish. On a mark-to-market basis they had insufficient reserves. That's closer to insolvency than illiquidity. The mismanaged duration is closer to illiquidity. But not of the sort a lender of last resort could save them from.
Litmus itself comes from plants. (Lichens)
> Some execs told CNBC that, by sending in their wire transfer early on Thursday, they were able to successfully move their money. Others who took action later in the day are still waiting — in some cases, for millions of dollars — and are uncertain if they’ll be able to meet their near-term obligations.
> Compare the above with logging: It is simple and trustworthy.

Is it though? Add concurrency and it's no longer simple. Have an operation running millions of times a second? Good luck even logging that fast enough. If you start adding logic to print only sometimes, now you get a poor-man's debugger.
>improved fleece on merino sheep grazed under panels

Makes sense. I'm not sure the exact care instructions, but I'm pretty sure "store this garment outside unshielded in the baking sun and pouring rain for many months" isn't the official recommendation for wool.

If available, sheep (and other animals) will seek cover during heavy rains and periods of high heat stress. This protects both the sheep and the wool, and both factors improve quality.

I wouldn't be surprised if the diet improves as well, due to healthier grass, higher plant biodiversity, and higher abundance of (tasty and nutritious) insects.

Paradoxically, primary productivity will often increase with added shade, because photosynthesis shuts down at even mildly elevated leaf temperatures (~85 °F). Those vast impressive corn fields will often overheat and shut down around 10 AM, and don't start photosynthesizing again until 4 PM.

In ye olden days farmers would plant a widely-spaced grid of "farmer's trees."[0] These are a category of trees (eg black locust) which 1) provided shade and windbreak, 2) coexist with crops right up to their trunk, 3) have deep tap roots bringing up minerals and water, 4) drops fertilizing mulch, and 5) produces nutritious animal fodder (pods) which self-dry and store on the tree itself. Clever farmers!

For mechanized farms you can choose a planting pattern and varieties that permit machinery to drive right past the tree without losing much area on "gores." Typical density was about 20-30 trees per hectare, so it also stores a bit of carbon.

Personally I prefer trees, but ultimately we need both types of systems.

[0] https://www.youtube.com/watch?t=25&v=uvQpIHBSPBE
If i screw up my investments i am stuck with the consequences. SVB screws up and we are all forced to bail them out? No thank you.
This sounds suspiciously close to the "we are in no danger except for a bank run" statement from SVB right before the FDIC took over.
The little box that does the internet is sending IP packets along appropriate routes; it's routing, so it's a router. The name is pronounced the same way as "route" [1].

The tool that cuts grooves in wood, well, it seems that's from "root" meaning to dig, [2], so one would think it ought to be pronounced the same way as that, but things aren't always that simple.

[1] https://www.youtube.com/watch?v=jbwPKIPVcPw

[2] https://en.wiktionary.org/wiki/rout#Etymology_5
A programming manager told me once that his job consisted of, every day, visiting every programmer on the team, and asking them about what they were working on. He'd then gently nudge them back onto what they were supposed to be working on.
> How much would you spend on the house if you're only alternative is to watch your capital disappear

If I'm worried about 10% or 20% disappearing to inflation, I'm certainly not paying 2x on an investment to prevent that.
> California labor laws are extremely powerful. "Not receiving agreed upon wages" is wage theft, full stop. They don't care if your bank collapsed or your great aunt ran off with contents of the cash register.

You forget that thinking, rational, humans are ultimately charged with enforcing the law.

Also, you seem way too certain of something that has no precedent. Show me where a major bank has gone under, caused companies to miss payroll, and the corporate officers were held liable.
> when they should have instead cooperatively organized an LTCM-style consortium bailout for it

I was on the phone with portfolio companies, friends and clients yesterday ensuring they pulled their funds to a back-up bank account. SVB was a national bank. It's not a charity, or even a local bank serving a niche community. It was a big bank, and a badly-run one at that. Nothing they do isn't done by others. I believe in my friends and their missions more than anything SVB was up to. (I'm not a VC.)
No but $1 in ten years will be worth more than $0.50 today.
if they collapsed to that extent then the only thing worth buying would be guns

the world economy would collapse, along with all supply chains including that for food production
Font shadow misuse and multiple saturated colors are the most common ways to make something painful to look at. Tiny fonts too.

This one used shadows and flirts with too much saturated color.
Not really. According to the CEO's tweets the payroll funds are stuck in SVB, but Rippling is using their own funds/collateral to fund the payroll.

Ref: https://twitter.com/parkerconrad/status/1634315187837861889
Roku discloses it has $487 million in deposits at failed Silicon Valley Bank
Is that number by account? By assets? By client? ROKU just announced they have close to have a billion in cash there. So 97 percent doesn't really indicate how many individuals are affected.
Why would someone name it ARM64 when it looks so similar to AMD64. I'm sure that has caused some confusion or things to break (or will do so at some point). Naming things is a usability issue.
A VPS is not usage based costs, you rent a fixed amount of resources.
>Stands to reason that 90 percent of followers should see tweets for a person they chose to follow..

It's difficult to take this kind of response in good faith. You asked for any proof and the article puts it pretty directly that he pressed for changes to systematically prioritize his own tweets (including to non-followers) and then do a strawman argument against one statement to dismiss the whole thing.
Withdrawal of $42B in one day. Wow. It does seem like SVB would be uniquely vulnerable to this type of run. (Relatively small # of customers holding large sums of deposit.) Is that incorrect?
Please correct me if i'm wrong since i'm not a finance guy,

apart from the loss of $1.8bn and the delta of the interest - growth from their assets.

Isn't everyone still going to get their money back - the percentage of the loss that SVB has which should be less than 5-9%? Sure FDIC has to liquidate all the money from the assets and it takes time. But at least the impact is not going to be as hard as losing all the money like FTX or Maedoff in 2008 right.
I mean, I'm just going off the FDIC's assertion that

> As of December 31, 2022, Silicon Valley Bank had approximately $209.0 billion in total assets and about $175.4 billion in total deposits.

And I'm not trying to claim that the balance sheet necessarily entirely reflects reality
"System Maintenance Notice"

"SVB Online Banking (US, UK, Canada Branch Accounts) will be unavailable throughout the weekend, but will resume next week in accordance with the guidance provided by the FDIC. Please check this page again next week for availability. Our apologies for any inconvenience this may cause."

That's the current login page for Silicon Valley Bank. The main page still doesn't show they're down.
It's insolvency if the current market value (not the hold to maturity value) of the assets is less than the liability. As far as I can tell though, SVB was solvent despite its losses, and just needed to raise money to cover reserve requirements after it realized the losses. What did it under was a lack of liquidity after everyone panicked and did a run on the bank, with 45 billion (out of ~175 billion in deposits) in withdrawals overnight.
> The US does have inflation-indexed bonds, but they're only available in small amounts ($10k/year). They're for consumers, not institutions.

You're thinking of I-bonds, but that's not the only inflation indexed bonds out there. There's also TIPS https://treasurydirect.gov/marketable-securities/tips/
Over exposed to US treasuries? I don't think anyone has put those words together before. It's like saying they were over exposed to cash. You're saying a bank run occurred because they had a duration mismatch on US government debt where maturities were less than 1 year. I don't buy that explanation at all...
This press release didn't age well.

https://www.bloomberg.com/news/articles/2023-03-10/svb-s-uk-...
Bookmarked (and appreciated!) solely to let me be lazy and send a link instead of repeating the same speech to other devs.
All they had to do was freeze withdrawals for 10 years and it all would have worked out fine.
> You can then use any legal means to collect

Sure, but if all but $250k of your funds are in limbo and you don't have revenue, there's nothing to collect.