skysight-inc/HackerNews huggingface dataset:
Enjoy your weekend.

Obvs a prediction, but while the limit is 250k - the FDIC will act to protect depositors with higher amounts - probably a private aquisition of some kind.

May be worth upping the (advertised) 250k insurance limit, as the de facto amount is already higher.
>If we need to shift school and work start times relative to the sun, we could you know, just do that...

But that is exactly what we're doing when we all agree to switch our clocks. Whoever ends up in the minority that really feels strongly one way or the other can still adjust their schedules if it's convenient for them.
>> this isn't an engineering problem and there's no correct solution.

It was an engineering problem, very literally an engineer problem. Standardized time zones were needed to keep trains, the big heavy things driven by engineers, from smacking into each other at speed. Coordinating all the train station clocks wasn't done for social reasons but for safety and efficiency. Imagine trying to run a modern air transport network if every airport changed its clock a few minutes every day. Total chaos.
I appreciate you looking up my bio :) It's important to make financial decisions based on calculated risk.
If you make 50K, the company that pays you probably has more than 250k in a bank account..

So this will still affect the regular person.

They should definitely NOT do a 100 cents to the $ bailout...Someone needs to take a haircut
Bailing out depositors is not the same as bailing out the bank. The bank should go out of business, but that doesn't mean depositors have to lose their funds.
If it was redeemable for a dollar it would never have been sold for 0.89
The title makes you think Thiel provoked a bank run. But the content shows they found issues with SVB when doing transfers while on regular business operations.

No insider info. No conspiracy. But Bloomberg got the catchy headline and people love to hate on Thiel.
I’m not sure I believe your assertion that the companies in question “pay taxes.” If you operate at a loss you get to deduct that loss. And there are lots of loopholes every company used to avoid paying their fair share. Unless you mean the employer share of the payroll taxes, which are paid on behalf of each employee and in my opinion don’t count.

The fact is that it’s really important to do due diligence on any institution that you’re putting more than six figures into. I would expect any “sophisticated investor” to understand the risks to the degree that they would be able to make an informed decision.
I wonder why he thinks it’s unlikely a buyer steps up by Monday. He says that 98% of deposits will be covered in liquidation. The FDIC can backstop any remaining amount. And, all that’s left is a rich client base and the infra of a previously successful top-20 bank. Aren’t the remaining parts an extremely attractive asset for another bank or PE?
Why would anyone with less than $250K pull out their deposits? Seems like these "bank runs" only make sense for individuals worth more than $250K to get their "uninsured" money out.
Transfer speed is not everything, latency for random access is one important factor and also performance with randomly accessing many small files... Something even nvme drives are not that fast with...
There were a whole lot more banks that failed in 2008 beyond Bear Stearns.
> The most they get out on Monday is $250k, how long it takes the government to make good on the receivership certificate is unknown

This isn’t quite accurate. The FDIC statement said they would make an advance payment on uninsured deposits within the next week.

So, there’s a guarantee that there is some money beyond 250k coming in less than a week. My guess is the other commenter’s analysis is close. The FDIC will determine the absolute floor of the value of assets that SVB had, and that will be the basis of the advance payments.

That will be the foundation of liquidity that companies will have while they wait for the rest of the process to conclude.
Companies shouldn't fail just because their bank lost their money. That's ridiculous and not at all the principle of a free market.
Even back in the day when photography was far less democratized, being a pro photographer almost certainly did not mean being a staff photographer for Life Magazine or even working for AP. It meant working for some school's news office and shooting pictures of alumni receiving awards or various small town newspaper stuff.
This commit landed 7 hours ago (since I wrote my TIL): https://github.com/ggerganov/llama.cpp/commit/007a8f6f459c6e...
The backup script's job is to back up all files, not crash fatally because someone used a dollar sign, a tilde, or a space, or `rm -rf` in a file name. The sysadmin’s job is to write robust tools, not expect users to understand arcane UNIX stuff.
> I don’t think this is widely true today (outside e.g. game development anyway). If it were, we’d probably have lots of fast software that’s very hard to read!

I think the point was that programmers' intuition about performance is wrong. So we'd wind up with a lot of slow, buggy software — buggy because the code became hard to read when it was prematurely optimized.
I believe (and I could be wrong) that this was scheduled in January and by that point rates had already gone up quite a bit. It is pretty safe to assume that any executive at SVB knew the writing was on the wall at that point.
Yes, but it gets to the same conclusion in a more condescending way.
>Expressed differently: reserves are like cash in a vault (or electronic equivalents). What you want instead is a big buffer of equity in the capital structure, so that shareholders can absorb huge losses long before creditors do.

That sounds like a Ponzi scheme. Wiki:

>A Ponzi scheme (/ˈpɒnzi/, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.
A bank would be better to not take the deposits than hold it all as cash though.
LUSD and RAI are fully decentralised (no centralised backing), though they are not quite as stable are their centralised counterparts (yet)
You're familiar with what >= means, right?

The OP was saying it was at least 30%
All this worry about AIs framing people when people can't even interpret regular evidence.
We're not, we're bailing out startup companies. You know, the main audience of this social media platform we're on?
I'm finding the commentary on this issue from different parts of the web interesting. Obviously many people here are directly or only one degree of separation away from being directly effected, therefore this place seems to be most sympathetic in demanding bailouts.

Wallstreetbets are happily egging on the chaos for lols. Crypto bros are seeing a mix of opportunity and/or potential market collapse in the few lucid moments they get day to day. And the wider public either dont know, dont understand or dont care.

personally im happy to let it burn to the ground. Risk and reward only works when unmitigated risk is punished. Asking the adults to step in every time a banker is irresponsible cant continue.
The longest lines I've ever been in for coffee have been at suburban Starbucks drive-thrus, which are far from dense. My experience is small coffee shops in cities don't really get that crowded. There's plenty of room for those small coffee shops where you can get your coffee and relax in a nice little lounge spot. (I've seen more of them by far in cities than outside, honestly.)
Yes, my comment was about exhibitapp's experience, not the SVB collapse.
> consider the feasibility of a world where each depositor must do their own credit assessment of the bank they choose to bank with

Isn't this exactly the problem the FDIC solves? Nobody with less than $250K need worry about who they bank with if they see the FDIC logo.
Possibly related, How to get things done when you don't feel like it:

https://queue.acm.org/detail.cfm?id=3280677
We already have people demanding higher definition televisions to watch AI-sharpened 4K restorations of old films whose grain and focus would annihilate any details that small worth seeing.

There's an arms race between people adding nonexistent details to old films and people manufacturing televisions with dense enough pixels to render those microscopic fictions. Then they lay a filter over it all and everything becomes smooth gradients with perfectly sharp edges.
But for most people it seems like a terrible goal. Solar maximum is much less important to daily life than sunrise and sunset
a helpful link for the curious here:

https://en.wikipedia.org/wiki/Bioorganometallic_chemistry
I see this in the ML space as well.

I'm working in a team doing ML and ML-ops, and every time we open a position we get a flood of applications.

Some have masters degree in ML but many are regular devs who want to move into the ML space.

I always try to convey that, ML or not, this is still a dev job. You still need to do all the boring, down to earth stuff, like hunting down bugs, fixing broken builds, or battling poor APIs. The supposedly "fun stuff" (modeling, etc.) is but a tiny part of the job.

I'll add the Coffeeshop Fallacy to my vocabulary to explain this point better.
For Julia or Python one has an option to look at the source as the ultimate documentation. It is not ideal, but good documentation is expensive both to produce and maintain.
It isn't.

Regulators are given a legal responsibility to oversee these institutions because they are (still) essentially trading on govt credit. That is why financial regulations exist: to give people confidence that bank failures won't happen.

95% of people are unable to perform the credit analysis necessary (and some banks don't even report this information publicly) to make lending decisions. And if regulators were unable to perform this kind of analysis in this case, I am not sure why people think savers will be able to.

So the way the system works is to accept that these kind of things will not achieve perfect outcomes in every single case, in order to create a system that secures funding for the place that employs you (this is what FDIC is, it is a massive insurance scheme).

If you are saying: why don't we have a system in which this doesn't happen? You are saying: why don't we have a system in which the economy is significantly smaller? And btw, in that system you will also never obtain the coveted short-term perfection.

And finally, unsecured creditors would be bailed out but shareholders would be written down to zero. I am not really clear if most people actually understand what happened in 2008. One of the narratives is that everyone wealthy got paid out, and things went on as normal...this didn't happen. Your point about "this wouldn't happen if people had the incentive"...okay, did regulators have the incentive? Everyone had the incentive, but sometimes people are wrong.
What kind of underground groups?
Of course they do. Why would they want lifelike photos? To remind them of how utterly crap things actually are? No, people want to have that idea of what life was like. Sharing a lifelike image on socials would get laughed off the platform. enhance, Enhanced, ENHANCE get all the likes
Transaction fees I think?
> - No popups asking you to subscribe, register, or download a mobile app

I’ve been wondering why ad blockers aren’t better about blocking these. I’m not sure when the last time was when I got a popup on a website that was something I wanted to see.
Risky startups run (or funded) by people like Bill Ackman who have been urging the Fed to tighten its monetary policy [1], which is precisely the policy that caused SVB to fail.

[1] https://twitter.com/BillAckman/status/1529133155801829380
Are you funded at all?

If you need extra hardware I'm sure the community could make that happen.
I think the hardest part for a creative amateur going pro would be bringing client after client through the same poses and scenes, albeit in various shooting locations. You innovate here and there but generally you'll need a lot of repetition. It's more like being a pianist than a composer.
When people complain about privatized profits and socialized losses, usually the part they’re upset about is the privatized profits
Everything You Might Want to Know about Whaling (2021)
Call daddy to socialize the loses while we pocket the profits.
Great, now my fan is running.
there is also naked short selling, if I got it right you need to have the stocks within 3 days of the closing date of the short, seems to work most of the time, the only failure in recent times was when Porsche shorted Volkswagen and and had to pay enormous amounts when the shorts were due (they shorted too much of them and had to buy them at any price to close the deal)
I think “making perfect the enemy of good” is not a uniquely American thing.

Something that does seem unusually American (although I’m sure not uniquely) is: We all agree this thing is bad, and something should be done. But the primary way to make big changes is to have one side push it and make concessions to the other side, to get it done. Nobody is willing to make concessions for something we all agree is good, so the good thing will never get done.

And also, we all agree it is bad, but our solutions are different, maybe even just in name, so we can’t let it be solved because that would give the other team a W.
It's not high risk by that definition.
Ok, let's keep throwing out accusations without any proof. Umm...Elon...Elon once told the queen of England that he wishes he could be a queen!
I was not commenting about the SVB collapse and what risks were involved with that. I was commenting generally about exhibitapp's experience.
I don’t like working through for hours after sunset in the middle of winter but I suck it up and do it.

In northern latitudes there aren’t enough daylight hours for a full working day to be between sunrise and sunset. That’s the immutable constraint - everything else is to deal with that.
What that huh? People are specifically using filters to alter their, wait for it..faces!
RAM requires constant power. If you lose power, you lose data (more-or-less instantly). Not only would you need some kind of controller device to present the RAM as storage to the OS (abstracted NVMe, SATA, something), you would need to figure out how to supply absolutely consistent 100% power to the RAM modules. Such a device would need it's own battery, capacitor, something to continually power the RAM modules. This isn't without precedence - many hardware RAID/storage controllers have aggressive battery-backed caching to persist cache data in the event of power failure.

I'm going to go out on a limb and say the approach you're considering is practically infeasible OR (best case) would need an oddball/bespoke device to pull this off. I'm not aware of such a device.

Closest you could get is using tmpfs or similar on RAM in RAM slots but it kind of sounds like your existing RAM is electrically/physically incompatible with the system you're attempting this approach with.
There's something wild here. There could be a run on this instrument and nobody could help. Systemic risk screams out here
My point is that not all of their customers were also SVB clients. It's faulty logic to assume that everyone's screwed because one bank failed.
I’ve got 100 employees that need to get paid this month, and they need to get paid $7500. How can I not have more than $250k without having to do really complicated stuff that will make my accountant hate life?

A quarter mil is a lot for a person. It’s not a lot for a business, and businesses were most of SVB’s clientele by asset amount.
With how the system is supposed to work, isn't anyone who have uninsured deposits supposed to buy their own insurance? If the risk of bank failure is low, then the insurance premium should be very low. If the premium is high, that's an indication that the risk is too high and maybe you should find an alternative.
The thing is that it's not exactly supposed to be a risk-free endeavor either. No method of storing money is risk-free (particularly not free methods of storing money).

There is some tail risk to any use of a bank over the FDIC limit, and everyone who parks a lot of money knows it. It would be reasonable to assume that "Silicon Valley Bank" would be overexposed to market fluctuations in Silicon Valley, just as Silvergate was overexposed to crypto.

Big SVB depositors probably won't lose a lot of their money anyway, but they may lose access to it for some time, which is a big deal for a short-term deposit account.
It’s funny, twenty years ago I was specifically told not to use digital cameras but the crappy disposable film camera provided in case of an accident precisely because the digital version could be contested in court.
Interesting comments. I retain three points:

1) Regarding the form: I am surprised that the presentation in small columns juxtaposed horizontally is so confusing to many. It seems to me that this is the strength of spreadsheets, displaying a two-dimensional grid that can extend far beyond the limits of the screen and thus requiring the use of scrollbars and zoom+/-.

Today the use of trackpads and touch screens allows to manage very easily the displacements and the zooms+/- and the presentation which I chose is particularly pleasant on tablet and smartphone. I find it nice to be able to view the whole document at zoom=50%, then focus on a column by double-clicking. But OK it's a matter of choice. That's why I give the choice of a vertical presentation in two of the linked documents. Still it is necessary to find the top-right [vertical] button ...

2) Regarding the content: My goal is to build a text editor equipped with a programming language, going far beyond Markdown, just to mention it. Moreover I wanted to build it on the simplest basis in my eyes, the lambda-calculus.

As "simple" is not "simplistic", it is still necessary to make an effort to follow the long way from the IIFE primitive (Immediately Invoked Function Expression) to the data and control structures of a standard programming language. It is this path that I am trying to make as clear as possible and I am not convinced that I have traced it well. This is the essence of my question.

Once the foundations are laid, I sketch the content of the complete language with the help of a few examples, illustrating the main special forms and primitives of the language and its openness to the eco-system provided for free by the web browsers. The complete development is visible in the wiki that serves as my workshop but that's another story.

3) Concerning "go fishing", as my grandmother used to tell me "If you give the passer-by a stick to get beaten, don't be surprised to be beaten" or "If you shoot yourself in the foot, you'll get a hole in your shoe" and so OK I get what I deserve. Humor is the least sharable thing between different languages and English is not my native language, you guessed it.

Finally, dear hackers, it seemed to me that HackerNews was the perfect place to ask for feedback on the kind of research/exploration/work I do. If you know another place, please let me know, thank you in advance.

Alain Marty
Yes. Many European countries, Canada, some Australian states/territories and New Zealand.
I am a bit confused - is this an argument against paying a living wage?

Are you saying that Starbucks will be the only remaining business able to pay a living wage?

Or that society simply cannot bear the price of paying it?

That the livable wages make business impossible?

Or that the coffee must stay at $2?
True! All of that would still depend on the way the memory is being accessed though, and if you really want to maximize the speed at-hand then you'd need a powerful memory controller. Once we get to this stage in the thought-experiment though, I think it makes more sense to install the RAM into a normal system and use a RAM disk to store things in it.

It's an interesting question, but I think the circumstances explain why nobody has really commercialized something like this. NVMe will get you 90% of the way for 30% of the price, and it's non-volatile to boot.
if (lineCount >= 3) {
return true;
}
Modern SSDs far exceed the capabilities of SATA. That is why SSDs now use NVME with M.2 or U.3.

There exist old slow PCI (DDR1 era) cards that do exactly what you expect: https://www.youtube.com/watch?v=bYbCYgYZVT8

There are also some niche contemporary options: https://ddramdisk.store/2022/05/12/meet-the-latest-release/

And in the future there will be very fast options: https://www.anandtech.com/show/16670/using-a-pcie-slot-to-in...
> Every single CFO and company treasurer knows what the FDIC is and what the limits are.

That's a hell of an operational ask for a 2 person startup with (for example, looking at the site we're on) $500k.

I suppose I could take $4m and break that up into 16 different banks, but 16 kyc convos, 16 logins, etc... what a waste of time and energy.
How can you possibly come the the conclusion that 12oz of drip coffee is a loss-leader? That’s like saying soda is a loss leader at McDonald’s.
ah froze my computer while i wasn't looking
The known portfolio isn't toxic with more time. It's just Treasury bonds and MBS. In fact they are rising in price because of SVB. However, the suspected problem is the unpublicized part of the portfolio. Some here say there are funny, poorly collateralized loans in there to the same people who made deposits there. It might turn out to be out-and-out fraud that looks like clever financial engineering.
I don't know about SATA drive or anything recent but there was at least one device by Gigabyte called the i-RAM that let you put DDR1 on a card and boot off it. LTT did a video on it a few years ago:

https://m.youtube.com/watch?v=bYbCYgYZVT8
Did you really just compare a war, where somewhere in the order of 200,000 people have died, with a bank collapse?
As far as I can understand seanhunter asserts that bank lending doesn't create money - pointing to the definition of M1/M2 money - and claims that bank lending is not different from me lending you $100 and that the amount of M1 or M2 money in supply doesn't changed in either case.

> The only wrong position is a failure to acknowledge that discussion is still open on this point

Saying that bank lending doesn't increase M1/M2 money supply is wrong. I don't think that discussion is still open on that. It's just how those things are defined. That's the only thing that I asserted.
It also seems the actual flying is done by NCOs, right?
Save the whales! Wonder how many of the companies are in his portfolio.

The government is going to save the depositors. FDIC will liquidate SVB’s assets and pay the depositors back. They might take a haircut in the process.
But they'll forgive it if they look better than what they've always thought. Just a bit better, not overdone. There's a sweet spot.
The rules of the game are public. As a depositor, you know how much of your deposit is insured and how much is at the mercy of the bank's liquidity and solvency. Your uninsured deposit is a loan to your bank, and the more vulnerable you are to that loan failing, the more scrupulous you should be in choosing the bank you lend it to.

Despite a consistent history of periodic busts, the silicon valley culture behaves with absurd optimism. New entrants don't believe that the good times will ever turn and that catastrophic risk is a real thing to attend to, and old hands think they know how to win the hot potato game this time.

The potato is getting really hot now, and things will just get worse in the long run if you don't let the community learn that people get burnt and need to be more careful as they play the game.
You can, I was able to run 13B on my 16GB 8c8g M1 Air. The performance was 2-3 tokens/second. It felt on par with ChatGPT on a busy day.
Curious about the logic you used to determine a company's balance based on employee pay. Is this just your own number fidgeting or an actual best practice in finance?

It seems weird that a company paying someone less than $5K a month would need $250K in the bank. we had $100K seed check at my startup and I got paid $6K per month as a counter example.