skysight-inc/HackerNews huggingface dataset:
While I like the distinction between working and owning class, i think your given distinction for upper class is really bad.

"If you own a company that employs people, you are upper class."

Tons of people own companies where they employ people, but still put in 50 hour work weeks and bring home less than $100,000 a year (or worse) without growing the company's value. In this discussion's context, I would put the staff engineer making $600,000 way ahead.

Owning cash is still asset ownership. Owning a failing business is not necessary better than owning hundreds of thousands of dollars. Plus, owning stock is still business ownership.

The quantity of ownership is important, otherwise any American with an invested 401k is part of the owning class.

I prefer the distinction of: "If you need to work to live, you are the working class". Though even that falls apart when talking strictly about income, as different people use their money differently. One person may turn $200,000 salary into early retirement while another lives paycheck to paycheck until death.
I believe one of the regulations there were able to skip because of the $250B change is submitting to a stress test.
Yeah, I didn’t say illegal. Often “cardinal sin” is just a playful way of saying “something thou shalt never do.”
Cronitor.io is his business in case anyone is interested.
The bond is worth less not temporarily but permanently. The (low) market price of such a bond is appropriate - it might rise (if the current interest rates fall), but it might as well fall even more (if the current interest rates rise even higher). Sure, in nominal dollars you get the 'full' amount back after xx years, but a 203x-dollar is worth less than 2023-dollar, and the market price of that bond reflects the markets' current best estimate on how much less that future dollar is worth.

You can't make whole the current depositors by saying that they'll get the same quantity of 203x-dollars (because you owe them 2023-dollars which are worth more), you can't make whole the current depositors by trading the future claims on these 203x dollars (i.e. bonds) to someone else because the price you can get is not enough to make them whole; and you can't make whole the current depositors by paying them back in year 203x their dollars with market-rate interest because you don't have enough assets to cover that market-rate interest, only the low, low interest that SVB fixed last year or before.
If depositing money in a bank is risk, where should I put my money then?
Do we know what it's doing exactly? It can be just doing some AI enhancement during post-processing. In this case the moon is not literally hardcoded, but a part of some opaque machine learning model.
It's the most upvoted comment for a reason.

Back then, people fell in love with GMail and suddenly everyone thought they were building another GMail. This wasn't true. Most people were building an app with a couple of forms, a datagrid and maybe 2 highly interactive pages.

PHP, Python & Ruby frameworks gave perfect support for all this >10 years ago. You had jQuery plugins you added to page in 30 minutes and you had validation. In 2 hours you had a datagrid. Autocomplete, datepicker, things like this was no problem.

It was a form of egoism all the time.

Coding Sign In page was work for less than an hour. Now, in React, it's 2 days.

Look at developers now and compare them with senior devs a decade ago. My estimate is that development today is 4 times slower. Given a growth of salary at least 50%, a system back then in MySQL, jQuery, Django or Zend Framework for $40,000 is now $240,000 in React with GraphQL, Mongo, etc.
I see. That makes sense. Thank you for clarifying.
nothing is stopping gui programs from using keyboard shortcuts though. vs code and emacs use them to great effect. and there’s no quirks with the alt key.
Yes it does. The blog post has the proof. You can use the nightly builds.
> whether a startup has positive cashflow or not isn't really reflective of whether that is a worthwhile startup or a bad one

A start-up that fails because of this mismanaged their treasury, didn’t pull money in time, couldn’t borrow against their claims and couldn’t convince anyone to advance payroll. That’s reflective on leadership. It’s a teachable moment. But it points to deeper naivety.
The government's responsibility is to ensure the integrity of our financial banks. It isn't the responsibility of the depositor, nor are they capable, to evaluate a regional bank's (the 18th largest bank in the USA) balance sheet. The FDIC is not without blame; there should be regulation that the bank's bonds should have been marked to the market.

This is akin to blaming a patient for medical malpractice — "why didn't the patient choose a better doctor".
>This is madness.

Yeap, even Sparta would bow down to a 265 MB terminal app.
The observation that the elites in capitalist society consistently seek to privatize the upside and socialize the downside of their investments (while opposing that approach for other segments of society) is…not new.

The problem is that we all too often have socialism for the rich and rugged free enterprise capitalism for the poor. — Rev. Dr. Martin Luther King, Jr., February 23, 1968
Except Musk has established precedent at Twitter that you can just fire employees for cause.
In Puerto Rico (where I live) there's an even weirder system -- people usually get/expect (and certain classes of employment obligate) a "13th month" check. Pretty common in LaLtAm; exists in some of Southern Europe too.
I’m a business owner with payroll married to a attorney.

I’m comfortable doing exactly as GP described to make payroll.
These middle eastern countries may be scum, but I have some admiration for them. At least, they achieved something with their oil resources and built wealth, unlike let's say, Venezuela and my country Nigeria that are so rich in resources yet poor in money, intellect and morals.
Tutorial: How to stream ChatGPT API responses?
Everybody is doing something that goes unpunished, just look closer.
What you state is perhaps obvious, I would not even bother to open a new account to conceal my identity just to say that...

It is a bimodal distribution of (1) the lucky ones and (2) the ones either "not yet lucky" ones (1/10) or the "never lucky"ones (9/10).

I find it refreshing to hear stories about how things did _not_ work out (from the sources). It is much harder to get the real stories behind the successes because people tend not to ascribe things to luck but create some story after the fact in the same way, as they say, "the winner writes the history".
RFC for 700 HTTP Status Codes
Wow, that is so cool, and such a good writeup. I like the analogy to an encrypted file, and the key being the exact convolution. The amount of information lost is the amount of information in the key.

I wonder if there is some algorithmic way to find the key and tell if it's correct - some dictionary attack, or some loss function that knows if it's close. Perhaps such a thing only works on images that are similar to a training set. It wouldn't work on black and white random dots, since there'd be no way for a computer to grade or know statistics for which deconvolution looks right.
The discussion in the post about dependent types is interesting, e.g.:

> [...] I'm curious, who has promoted the myth that you need dependent types to do semantics

My experience is that teaching materials for Coq are much more developed in the context of semantics and software verification, despite Coq being harder to use.

The post mentions Concrete Semantics [1], which is a really nice Isabelle book. There's also a Lean version [2]. However, to my best knowledge, there's no intermediate/advanced teaching material such as [3-5] for Isabelle, Lean, or Agda. Just introductory stuff.

[1] http://www.concrete-semantics.org

[2] https://raw.githubusercontent.com/blanchette/logical_verific...

[3] http://adam.chlipala.net/frap

[4] http://adam.chlipala.net/cpdt

[5] https://ilyasergey.net/pnp
The problem was SVB was a "specialized regional institution." The Washington Post points out depositors would've been fine in a normal bank (citing a Washington financing consultant):

"Where SVB relied upon tech-focused venture capitalists for much of their funding, larger banks have millions of depositors, access to wholesale funding markets and interbank channels... Regulations that were tightened in the wake of the 2008 financial crisis also have left the banks better armored against potential dangers. The Dodd-Frank Act required banks to hold more capital in reserve, as a buffer against unanticipated losses. At the end of September, JPMorgan Chase reported holding $236 billion in Tier 1 capital reserves."

I'd also like to second the commenter above who said SVB may be bought by tomorrow -- with all its deposits being honored, and no one losing anything.

In fact when I first read this thread's headline, I thought you were asking the "prisoner's dilemma" question. Because if all of the depositors had left their money in SVB, the run wouldn't have happened. SVB actually had lined up stop-gap funding, Reuters reported. But then "Some SVB clients pulled their money from the bank on the advice of venture capital firms such as Peter Thiel's Future Fund... This spooked investors such as General Atlantic that SVB had lined up for the stock sale, and the capital raising effort collapsed late on Thursday."

https://www.reuters.com/business/finance/what-caused-silicon...
They are blameless is my point. The depositor has zero responsibility to evaluate the bank's balance sheet. Not ensuring the depositors are made whole will risk a run on all regional banks throughout the country starting tomorrow morning. We will then see a consolidation of deposits into the top 4, too big to fail banks; hardly a progressive outcome.
I don’t buy that argument. The extremest people on the left are doing ridiculous things as well. Like turning a blind eye to shoplifting or illegal immigration. Not on the same scale as overthrowing the government, I concede.

If enough of you guys on both sides can’t see that there are rational, reasonable people on both sides and come together, that will be end of the American empire. It will end in civil war, complete with nuclear Armageddon for the USA. Let us hope there is enough common ground to avoid that outcome.
All VCs should be doing this. Sadly, many aren't.

https://twitter.com/sethbannon/status/1634934773377294336
A buyer might be willing to pay a premium (above the assets alone) for the business, which was worth $15.5B to shareholders as recently as Wednesday. Levine's column on this failure is great, you should check it out: https://archive.is/cN3CD .
You're begging for money from the government to compensate you for your own personal failures. I think you need to re-read your Nietzsche if you think this makes the people saying no to that corrupted by ressentiment.

They're just trying to help you overcome your shackles of dependence on the sweet teat of Uncle Sam. Get some bootstraps and climb out of this hole on your own merit!
That’s not necessary though unless we are to believe that a meaningful amount of money has disappeared. The FDIC offers insurance with a limit for a reason, it’s a fantasy to believe that the FDIC are going to invent a brand new standard of deposit protection because some companies might be forced to take a small haircut on their money.

The bank will re-open, companies will get most of their money, and life will carry on. The FDIC aren’t going to guarantee 100% of deposits, and shouting from the rooftops that a million jobs will be lost if the FDIC don’t do it (which they won’t) is panic-inducing for no discernible reason.

Edit: I intentionally took one for the team by embarrassing myself with a claim disproven less than an hour later. You’re welcome.
Suppose they'd hedged away their interest rate risk. There'd just be another party on the other side of those swaps who'd have gotten wiped out instead, right?
Yep, in Germany too, hence my surprise.
As anyone who was living in Rhode Island around 1990 can tell you, credit unions are no more or less safe than banks. It's more about ensuring proper oversight in either case.

https://en.wikipedia.org/wiki/Rhode_Island_banking_crisis
I suppose I'm more optimistic. From my point of view, structures pipelines and some of the goodies that come with it (like better error handling), can make a shell language into a perfectly capable scripting language. I think the big weakness for these new shells is in the small sizes of their library ecosystems. But PowerShell shows what a language of this kind can do with a sizeable ecosystem and some OS integration.
You had all this (most often as free & open source jQuery plugins) 10 years ago.

Honestly, 99% of webapps today are 2 very interactive pages (which could often be developed in jQuery anyway) + bunch of generic datagrids & forms we have seen many times since the introduction of <form> and <table> tags decades ago.
> If they don’t want to insure that much, then IntraFi and other similar services should be illegal.

Why though? The "$250k per bank" rule is clearly a feature of the system, not a bug. If the FDIC wanted to have the insurance limit be across all banks, that's how they would've structured the rule.

But they didn't, because their purpose wasn't to provide unlimited protections to corporations from bank failure, it was to limit the impact of any individual bank's failures and decrease the likelihood of bank runs.

The current rule does this effectively, and encourages larger businesses to diversify their assets while also providing significant downside protection to many individuals and small businesses.
The use of cat is not useless. Having a "read this file" command be the source of the pipeline makes a lot of sense. It makes it seamless to replace the cat with a pv if you want progress, zcat if you're reading a gzipped file, curl if you want to use a URL, etc.
> N-Queens is a classic backtracking problem that gets asked a lot during interviews.

https://fizzbuzzed.com/top-interview-questions-3/
It’s not just that a firm could diversity but the network of firms around your firm…. E.g. if you weren’t think “I am in Silicon Valley I have to bank at SVB” and you didn’t think “I am a startup so I need to have my payroll processed by a startup… that also banks as SVB” your exposure is reduced.
>As far as I understand, the nominal value of assets still exceeds the obligations?

AFAIK that number was based on the book value (ie. how much it cost for the bank to buy the bonds/MBS), not the current fair market value. Other sources say that SVB is in the hole when using current fair market value for their assets.

>So big was this drawdown that on a marked-to-market basis, Silicon Valley Bank was technically insolvent at the end of September. Its $15.9 billion of HTM mark-to-market losses completely subsumed the $11.8 billion of tangible common equity that supported the bank’s balance sheet.

https://www.netinterest.co/p/the-demise-of-silicon-valley-ba...
does this mean ppl now have 7 figure salaries over there ?

I'm should really go across the pond. I'm fed up of doing 40k in here.
Yes.

https://archive.is/XWiGM

Here he is bemoaning the glut of decidedly non elite law graduates under a title of "elite overproduction".

If he rigorously defined billionaire to mean anybody earning over $100k it would hardly be more ridiculous.
Aside from weaponizing the internet to help DC censor people it deemed icky? Taibbi testified in Congress just this week about it.

Or, if in a touristy area, flooding their residential neighborhood with unregulated AirBnBs?

If bicycle/motorcycle rider, putting "self/driving" cars they knew cant detect two wheeled vehicles?

Adding a police detector to continue providing illegal taxi service in cities?

Having a business model where our personal information is syphoned off and commoditized?

Creating social media creating new, widespread, psychological diseases?

Creating the infrastructure for mass surveillance through by selling access to their product through government partnerships?

This is HN... all these stories well documented here.
Not a "small" script, but this allows me to painlessly switch proxy configurations in git/npm and windows.

https://github.com/JDeepD/SetProxy
I'm amazed at this New York Times article from 1984 narrating about a "not-too-distant future" that is actually happening now:

https://www.nytimes.com/1984/11/04/magazine/photography-s-ne...

> In the not-too-distant future, realistic-looking images will probably have to be labeled, like words, as either fiction or nonfiction, because it may be impossible to tell them apart. We may have to rely on the image maker, and not the image, to tell us into which category certain pictures fall.
No, as the article states, it intends to place SVB UK into an insolvency procedure but has not placed it yet. It makes a conservative assumption that this procedure might be needed "absent any meaningful further information", but if SVB UK provides such information and shows that it is separate and solvent, then it can avoid this procedure, in which case it would probably get sold to someone to pay the parent company's liabilities.
I’m sympathetic. I was in the hospitality industry during COVID, I watched a company that employs 60 people struggle to make payroll while 90% of their business was legally barred from operating for months on end with no clue when it would end. I saw managers and fellow employees giving each other loans, I paid for a coworker’s car repairs. I am not wishing this on you.

By this evening you’ll know if a sale has gone through; if so, everything is back to normal. Otherwise, the FDIC has 250k waiting for your employer on Monday morning, guaranteed. Even if that’s not a week’s payroll, for all but the largest companies that’s enough to get employees by for a week.

The money isn’t gone, just locked up in securities. By the end of the week some percentage of the account will be released - I’ve heard predictions of 80%, 60%, 50%, but even if it’s 20% that is still enough for almost any place to run close to full payroll and operating costs for a month. By the end of the month you’ll have 50-80% back, and you’re back to normality. Maybe the last 20% takes a year. It can wait. This isn’t the end! It’s scary, but it is not the end.
> though some mechanism that he doesn't explain

I believe the mechanism he's talking about is that large, uninsured depositors will wire funds out of regional banks that are "small enough to fail" to more diversified national banks that are designated "systemically important banks", which means they're too big to fail.
I think it's a portmanteau of susurrus and torrential, which serves to invoke the force and volume of a torrential downpour to the description.
Who is? Random SaaS and biotech startups?
> They were slow in ways I did not realize terminal emulators even could be

When I type in a normal terminal emulator (xterm, alacritty, anything!) it feels "fast." There is no perceptible lag whatsoever between pressing a key and the character showing up on the screen.

Then I switch to a tty, and realize there's somehow even less perceptible lag.

I'm afraid to try one that uses Electron.
Given the disaster and nearly unprecedented nature of these events I doubt anyone would bat an eye at a CEO taking the decisive action to do what needs to be done to survive (and fix it later). For many the past few days have been the startup equivalent of "fog of war".

As others have noted it's not embezzlement/commingling and given the scenario "Wire out from SVB corp account to personal, document exact amount, and wire back to corp $NEWBANK a week/days later, document again" would hardly cause any heartburn now or down the road. Many would see it as responsible, proactive, and heroic.

Depending on the amount the only issue would likely come from your personal bank - I know of people with ~$10m at SVB and I have to imagine all of sudden wiring those kinds of funds to a personal account with an average daily balance that's a fraction of that would raise some alarms on the personal account - or maybe not as I can imagine the big big banks (BoA, etc) probably saw a lot of this on Thursday...
There … is?

Right below that there’s another bracket of “trying to tweet through it”, a lot of the folks behind the We Support An SVB Successor thing, which then, as Paul Graham did, lectured people that they can’t really do anything because their LP agreements forbid it.

Didn’t know YC was a non-profit and Paul’s involvement was a $85k salary and no carry/returns…

Push came to shove, some people stepped or are stepping up, some didn’t.
Because he’s been forcefully arguing for a bailout and not saying a word about it, instead talking about the common people.
Photography's new bag of tricks (1984)
> If a bank says that stress tests are too expensive to run, that means that absent regulatory requirements they would perform no risk management.

This feels so damn true about almost every megacorp belly-aching about regulation.
Neither, you're looking for me_cleaner.
What’s with the propaganda output from the example LLaMA prompt?
I think Nu generally plays nicely with other CLI tools and data sources. For example if you've got an external executable that emits JSON, all it takes is `from json` to convert that output to a Nushell table.
NASA spacecraft beams back tantalizing images of volcanic world Io
Or they could value and be bothered by different things than you.
Hmm, yeah I take it that the description is not perfect there.

That said, I’m not sure how to fix it. The point really is that it isn’t a better vs worse score or something. Hypothetically the staff engineer could be blowing that $600k on… I dunno, I can’t imagine how to waste $600k a year, boats I guess, and not end up with the assets.

It is definitely an extreme case, though.
This wasn’t a crime, it was a bank run because this bank apparently wasn’t great at managing risk and the risk free assets they bought are not as safe as they used to seem when they bought them now that rates have risen substantially, it could (and probably will this week) happen to other banks like First Republic. If the fed dithers today that seems a lot more likely.

EDIT - seems Signature bank has failed as well today, and the Fed has decided to guarantee deposits at both.
Not having trouble getting food is, de facto, healthy if having trouble getting food is most people's baseline. You're drawing the distinction in a way that only makes sense from a modern perspective.
Getting 90 cents on the dollar is not 'massive job losses' and most people outside of tech (SV VC tech precisely) think that the bank run risk is massively overblown.

Anyway we'll see what FDIC does. They're good at what they do.
Thank you - that's interesting.

However, it then raises the question: What are they doing on aircraft carriers and how is that different ?

https://en.wikipedia.org/wiki/Aircraft_catapult

... I assumed those had some fuel-use benefit, but perhaps their only benefit is shortening the runway ?
Would not using these interrupts be a realistic alternative?
Again, two wrongs don't make a right.

This is like arguing that we shouldn't pay for housing for the homeless because rich property developers are partly to blame for the housing crises in many cities.
> We can't generally expect workers to evaluate the financial soundness of their employers.

Why not? It’s like fundamental…
Quite some time ago (~15 years?), I needed to repeatedly recompile SBCL from scratch, a process that produced multiple megabytes of output per second. I found that the gnome-terminal (which I was using at the time) increased compile time by ~4x relative to redirecting the output to /dev/null. Xterm only increased compile time by ~20%, but rxvt-unicode had no measurable overhead, so I switched over and only reconsidered when it became fashionable for CLI tools to use emoji in their output.