skysight-inc/HackerNews huggingface dataset:
SVB was literally playing by the rules outlined in banking regulations to reduce risks. Those rules are dumb, don't really reduce risk and don't fit SVBs business customers but they must be followed.

Society forced SVB to structure it's capital this way - society should be responsible to make the customers of SVB whole (SVB equity holders should be wiped out though - the risks of the business model are clear and arguably they should be aware of them as owners).

Afterwards we as a society should take a long hard thought about the success record of centrally planned economies.
A short seller borrows shares from a shareholder - a bank, institutional investment group, or an individual who makes them available in return for interest payments - and sells them on the market at the current price. They hope to return the shares by buying them back at a lower price later and pocketing the difference.
everytime i hear someone talk about redistribution i wonder if they're asking to have more money, or if they'd be happy if the redistribution made them poorer.
I think they were paying interest on accounts, and it was actually becoming substantial especially as deposits increased so much.
That got me wondering why anyone leaves amounts over 250k anywhere else.

If you have 5m are you going to open 20 bank accounts? If there's a wobble you'll need to dig out a lot of credentials to move your money, and you'd end up moving it to a TBTF anyway.
there was also a very uncommon event in '01, '08, '22..

.. at some point, we're gonna have to step back and take a look at how we're doing business. Something about our whole way of organizing society is busted.
In IBM mainframes, "systems programmer" (sysprog) traditionally means "system administrator". Part of the reason for that, is a systems programmer was expected to be accomplished at assembler, which was used to write user exits (to customise the behaviour of the operating system to meet the needs of each site) and even patches to the OS code (SYSMODs). Operators were responsible for day-to-day running of the system (startup, shutdown, mounting and unmounting tapes and removable disk packs, changing forms in printers, starting jobs, resolving minor technical problems). Sysprogs were responsible for installation, configuration, customisation, upgrades, troubleshooting more complex problems, etc. Over time, the need to customise the code of the OS declined, and IBM made the OS much harder to modify by taking away customer access to source code (IBM's 1983 "Object Code Only" announcement) – so contemporary IBM mainframe system administration involves much less programming than it used to, but the name has stuck. Also, you no longer have to write user exits in assembler – C is supported (e.g. using IBM Metal C), as is PL/X (if you work for IBM, or one of the small handful of ISVs who ordered IBM's PL/X compiler during the brief period they were offering it to them)
OpenLibrary.org (run by IA) is always looking for volunteers, especially on the tech side. They have so much work to do and are trying to make lots of improvements to the site. One thing I'd really like them to do that I think they're also pretty keen on is better integrate with wikidata to pull info about authors or book reviews and such.
I guess comments consisting only of a link are automatically set to be unreplyable? The posting and the floating to the top is just the normal posting and voting system, it seems to me.
> and has proven utility.

It hasn't.
The answers here are great, but I would also direct you to a more complete picture here: https://www.investopedia.com/terms/s/shortselling.asp

Shoring is, financially-speaking, quite complicated and can be very opaque. It's also fundamentally different than longing (not merely the "opposite").
Cloud services mainly replace networking specialist with IAM specialist, SRE specialist with VM specialist, systemd specialist with Kubernetes specialist, and so on.

So in the end you are at +/- 0 resources anyway. However, what you get out of these same resource count is potentially a lot more, because the cloud gives you a longer leverage arm and a lot of the underlying tech in the cloud is more best practice than what you would have cobbled together yourself. For example IAM is a higher abstraction level, that a manager can actually understand, whereas ssh keys is black magic tech talk.
But what do you when Cramer suggests buying the Inverse Cramer ETF?
Of course the underlying issue (maturity mismatch) would be entirely preventable. Why the current banking system is setup in a way that makes regular banking crashes practically unavoidable: https://news.ycombinator.com/item?id=35106315
You literally borrow someone else’s stock and sell it. You now owe them the stock which effectively leaves you with a negative position. Eventually you have give them the stock back which will require you to buy it. If the price has gone down you make money.
I imagine it’s unreplyable to prevent hijacking - we all think we have something important to say, so there’s a temptation to put it as an unrelated reply to a top comment so more eyeballs see our comment. You’d want this in place regardless of whether the link is organically voted up or artificially pushed to the top for convenience.
> He's far from perfect

Arnold himself in Pumping Iron would beg to differ ;)

> all I have to do is get my posing routine down more perfect, which is almost impossible to do, you know. It's perfect already.
> I thought treasury (or the US Govt) had instructed federal reserve to freeze assets of Russian entity.

I'd need to look that up. But I don't think Russian entities directly held assets at the federal reserve? It's mostly about the commitments of third parties?

> In so far as gold is used as money one is indeed relying on rest of humanity/society to accept it in exchange for whatever you need.

Hence my use of the term 'technically'. Yes, the industrial uses for gold are relatively limited. So its value is mostly (but not totally) a social construct.

However imagine for a second coins made of something that has enormous industrial value but hasn't acquired any social value (yet). Eg coins made of graphene or so? (Not sure about a specific example.)

In any case, there's no contractual counterpart for gold. It's an expectation, but no on in obligated to live up to that obligation.

> In my mind, money is a promise or a contract which says here's a "thing" I'll give you in exchange for goods or services. The other party could always walk away from that contract or decide to not honour that promise.

For proper contracts, there would be contract penalties. Eg if your bank refuses to pay out cash when asked.

> I could never understand the intrinsic use value of Bitcoin. People think of it as store of energy or whatever but what is the intrinsic use of Bitcoin? ETH at least is used as a currency to get work done on Ethereum chain so that is its intrinsic use value.

Network effects aren't good enough for you?
When you buy a stock, you pay money and someone else gives you a stock. Once you have it, you can hold it for as long as you want. Its value can go up or down. When you sell, you get money, which might be less or more than what you paid. If the value goes to zero, you can no longer sell and you will never get any money.

When you short a stock, you are basically selling a stock you don't have. Thus you get money and owe someone else a stock (in practice what happens is someone else unknowingly gives you a stock for free and then you sell it, and they get an IOU for a share of the stock later; but let's not worry too much about the mechanics). Once you have this IOU, you can hold on. The value of the liability associated with the IOU can go up or down. If it goes down, then when you discharge that liability by buying the share you owe, you will pay less than you were paid for the short, thus making a profit. If it goes up, then you will pay more and thus lose money. One risk with a short is that your liability is unbounded. In a traditional stock purchase, the worst that can happen is that you lose the money you put in. In a short sale, you can lose many multiples of the money you put in if the stock does very well. Under a few circumstances, the IOU can be called, forcing you to prove that you have the money to buy a share; for instance, if you were to short $1,000,000 in shares and the share price triples, you owe $3,000,000.

To summarize: when you buy a stock, it's because you think it will be worth more later (again, let's set aside dividends and other things). When you short a stock, it's because you think it will be worth less later.

The reason shorting is permitted is because in general, there is a belief (mistaken or not), that additional liquidity -- more trading -- benefits everyone involved in a market by reducing the spread between prices for buying and selling; additionally, shorting makes it possible to hedge your exposure to a sector (i.e. to trade off some upside in a sector with some corresponding downside and vice versa).
I don't recommend to juniors any of the books of people like Uncle Bob, Fowler, etc...

Those are full of advices that seem reasonable but extremely generic and tend to be followed with religious fervour by people with limited experience resulting in an unreadable bug-ridden mess. When I think about those authors a single question comes to mind:

What have they ever built?

Reading code from popular opensource projects and evaluating the different approaches they took is way more useful than reading those books, full of regurgitated wisdom from people with minimal street creed. And yes, maybe it's time to stop calling him "uncle", it's not your uncle, he has very little to teach. Start building, stop reading.
>Even regulators are regulated. There are laws that prescribe what the Fed can and can not do, and how.

I mean sure, you can say that. The US government is regulated too. But in general the government IS the regulator of the people just as the central bank IS the regulator of monetary policy.
Not sure if this type of cynicism is more Reddit than HN, but somehow I suspect the rules are more likely to be written by the guy with the 5M deposits and his even richer friends.
That quote isn't saying not to optimize. It's saying not to optimize at the start.

When you initially write your code, you won't know where the bottlenecks are. So first choose and write a sensible implementation using appropriate algorithms and data structures to complete the task.

Then, when you have something working, measure its performance against real world data, not against synthetic benchmarks. You can use synthetic data that models the real world (e.g. a large number of user records in the system) to amplify the performance issues, but collecting the data from real world data will be better.

With that performance profile, you can see exactly where the performance issues are. Those will then allow you to write more complex, or harder to read code, that improves the performance of that part of the codebase. This will then allow you to write code that actually improves performance, and not things you think will improve performance, such as:

1. The optimized inverse square root function in Doom (https://en.wikipedia.org/wiki/Fast_inverse_square_root#Overv...)

2. Improving the git performance of the sha1 algorithm. (There was a discussion about rewriting the old code a while ago in assembly in the mailing lists that I can't find due to Google not understanding my search queries. In those discussions, IIRC Linus ended up creating a C implementation that compilers were able to compile into an efficient assembly version.)
Complete lack of evidence?

There is very solid evidence for substantial harms, not the least of which is death. The only thing that is unclear is the probability of that outcome, but based on the approximate number of publicized deaths it it seems to be on the order of 1/10,000,000 +/- an order of magnitude.

That would place the risk of driving somewhere on the order of 100 times more dangerous than a dose of the vaccine, not billions.

In addition there are increasingly large bodies of evidence and studies showing serious side effects, including:

* myocarditis 1/100,000 +/-

* long term tinnitus 1/50,000 +/-

* significant menstrual cycle changes 1/2; yes, 50% of women

… there is also solid anecdotal evidence for other long term and substantial harms, although the extent to which those probabilities play out are much less clear.

It may very well be that all things being equal the risks of using the covid vaccine were less than the risks of catching covid unvaccinated, but that doesn’t mean that it’s without serious risk, and we should stop spreading the propaganda that suggests otherwise.
it did add something of value.

uncle bob realized his "clean code" may have done a disservice with regards to performance. but i am not holding my breath on seeing a change come about soon.

it is possible to optimize for both performance and developer productivity. but everybody is leaving that out in the discussion.
My point is that people should not have to serve or suffer for the system, but the system has to work for them. There is more than enough wealth for everyone, it’s only a distribution problem. For that, modern tech surely can help
Won't the 65b model (almost) fit into 128GB RAM?
Or into 128GB RAM and 24GB VRAM?
Hmm no, some link-only comments are replyable, so archive links must be handled specially.
I always figured it was just a shorter version of operating system programming.
Heh, I come here to write exactly the same comment !

You can't have exposure, if you don't have any real assets.

Frankly, this is all mind blowing - it will be in all finance books in the future, and we have the privilege to see it happening.
My company has seen quite a few sell side analysts talking about SVB earlier this year, so I guess the risks were not unknown to financial markets.

Problem is, we are in a scenario of great macroeconomic uncertainty. That can make borrowing costs (needed for shorting something) quite high, because everyone and their moms want to protect themselves from market downturns.

So even if you guess correctly that some company will fail, you might still lose money if you're not lucky with timing. Many short sellers were squeezed in the last months, but we don't hear their stories on Fortune.
A lot of plants doesn't like and cannot survive the sun at central hours unless you water them like crazy. Basically you are watering to avoid dehydration, but not producing, like drinking in the desert. A lot of plants evolved to thrive near/under trees.

Greenhouses can tame the sunlight, and usually they are painted in white in regions of too much sun (https://m.youtube.com/watch?v=Rl6tMOU84tk). Also, greenhouses are hot but very humid, so the plants doesn't dehydrate as fast.

I could imagine an scheme that instead of watering (costs money) you shade the crops with panels (earns money) during the worst of the day.
Do you want research or do you want an analogy? I can give you both. On the research front:

"An Experimental Analysis of Erase-to-Program Interference in Multi-Level Cell NAND Flash Memories" by F. X. Zhang, et al., in IEEE Transactions on Electron Devices, vol. 63, no. 4, pp. 1621-1628, April 2016.

"Erase-to-Program Disturbance in NAND Flash Memory: Characterization, Modeling, and Mitigation Techniques" by M. H. Kim, et al., in IEEE Transactions on Very Large Scale Integration (VLSI) Systems, vol. 25, no. 9, pp. 2381-2392, Sept. 2017.

"A Study of Erase to Program Disturbance in 3D NAND Flash Memory" by T. Wang, et al., in IEEE Transactions on Electron Devices, vol. 64, no. 7, pp. 3153-3159, July 2017.

"Characterization and Modeling of the Erase-to-Program Disturbance in Multi-Level Cell NAND Flash Memories" by R. Micheloni, et al., in IEEE Transactions on Electron Devices, vol. 56, no. 11, pp. 2384-2392, Nov. 2009.
"Code Complete" by Steve McConnell and "A Philosopy of Software Design" by John Ousterhout.
You need to realize that essentially bond pricing reflects the present value of all cash flows you expect from the bond. For long term bonds especially, this makes it a particularly risky book, because you are very sensitive to interest rate changes.

If the interest rate goes up while you are holding your low interest bonds, that means that your future cash flow from the bond (the repayment) is literally worth less than what it was. Your bond payments have a lower real value due to the higher interest rate of the surrounding environment and the increasing price levels, despite being the same nominal amount. That's why the bond's price plummets in the market, which is why this is a solvency crisis: because the assets really are not good for the liabilities at present value, which is the only kind of valuation that makes sense here.
Is it not easier to select the paywall element in the inspector and delete it? Well, not easier than reader mode, of course, but easier than fiddling with styles.
Well that's a waste. I'll see how it goes but if it annoys me I'll cancel the subscription.
Well, now tell us how much time you spend on YT, Shorts, Reels, TikTok and twitter combined
If it's more than 2h, u should either block them or restrict the time
Yes:

> elf32-littlearm, and elf32-bigarm
Bodybuilding is an untested “sport”. There are federations that test and that is called natural bodybuilding and the physiques are noticeably smaller. Everyone Arnold competed against and train with used steroids so the playing field was fair. I put sport in quotes above as it really isn’t a sport in my view, even though if asked what sport I do I would say body building (I don’t take steroids and don’t compete so it’s a hobby for me). It’s halfway between sport and art with a sprinkle of something else I can’t articulate.

All that is to say that the comparison to Lance isn’t valid in my view. The equivalent would be saying that Lance Armstrong cheated because he used a fancier bike than everyone else and didn’t win on a cheap Walmart bike. (I’d replace Lance here with another cyclist but I can’t think of any who don’t have steroid doubts on them so let’s just stick with him).
Reducing CS Withdrawal and Failure Rates with Labeled Subgoals
Neither. More like: if you are sick, you can go to a doc for free, he is paid for by the public. Want to become a doc? Get that education for free, including some monthly money to live during studying. Those teachers? Same thing, paid for by the public.

Or you can travel with great public transport, for free. It’s not that I want more money, taken away from the rich, but the realization that everyone including me is much better off of everyone around also is taken care of. Strong public services are key.

Ontop of that, even more radical, companies should be run by the people working in it instead of shareholders siphoning out profits. Workers would never fire each other for more profits, or evade taxes that fund their neighborhood, or offshore their own jobs. Currently that might not be legal, that’s why it would need forceful redistribution.

Even on the simplest level: if you have free access to education/healthcare/… imagine how many brilliant people can try to become entrepreneurs or researchers instead of having to suffer two service jobs to provide their family. It’s statistics, that 60%+ of the population might include the next Einsteins, but are unnoticed and their potential wasted.
i did buy stocks in 2008 though, and that was my most profitable investment in my entire life. He may have had a point.
The timing of this and SVB going bang is a little sus... Or I'm just being paro waiting for the dominoes to start falling.
https://www.marketwatch.com/investing/fund/sjim
Well, not all USD is stuck in SVB, at least according to what they claim. If Coinbase knows that they have the reserves to back USDC, or 93% of the reserves to back USDC, then them buying back any USDC on the open market at 90% or less is huge amounts of certain profit, while everyone else has to gamble on what the Coinbase actual capabilities are and in many cases are willing to accept a haircut to gain certainty.
i find it baffling that uncle bob thinks it's okay for dialog boxes to be sluggish. and that we can throw CPUs and GPUs at most performance problems. because it's "cheap".

that way of thinking is part of the problem.
The CEO of SVB sold $3.6 million of stock a couple of weeks ago.

I’m sure the SEC will have some questions about that.

https://fortune.com/2023/03/10/silicon-valley-bank-ceo-greg-...
As a media corp. The Economist just follows certain leads and filters to lie. Sometimes obvious, sometimes not so.
Or so little profit, as in this particular turn of events
Rust - absolutely, for sure! In terms of Assembly, it's incredibly difficult to write an efficient Assembly code these days, especially in a multithreaded, multicore environment. In such environment, as humans we just can't compete with compilers any more. Reading and analyzing assembly code from C/C++, - sure that's absolutely necessary. Writing an assembly code from scratch, better than compiler? I am sure people do that but that's ... quite hard.
> Side projects and blogs

As in, multiple different side projects and multiple different blogs?

Maybe that's your problem. Pick one. One side project or one blog, and park the rest.

https://www.amazon.co.uk/One-Thing-Surprisingly-Extraordinar...
Months in Mobian: February/March 2023
“Markets can remain irrational longer than you can remain solvent“. This was also the case with Burry and others shorting in 2008.
Banks also rely on “newer funds” (from loan payments) to pay “older requests” (customers withdrawing their deposits). When withdrawals from old requests rise so much that they can’t be covered by new funds, banks collapse.
Sure but that takes time. Time that you have to spend that money as quickly as possible on valid business expenses in order to be indemnified from the claw back.
Bleecker Street Research, of course, has made out quite nicely from the demise of Silicon Valley Bank (The team won’t comment on how much they made off their short bet).

How much could it be? 60-70%? That is how much the stock fell. The problem with these kind of stories is you don't hear about all the times these firms sold short and or were wrong or lost lots of money before eventually being right and would have been better off with an index fund. It's easy in hindsight to explain what was wrong with the bank or why the trade was a success.
Which goes to show there's no such thing as a decentralised stablecoin, since they're all backed with other stablecoins that aren't decentralised.
I might be misunderstanding what you wrote, but in the US, Wealthfront Cash is offering 4% APY, which is a bit higher than 3.3.
You will look buffer for sure
Curtis Guy Yarvin (born 1973), also known by the pen name Mencius Moldbug, is an American blogger, software engineer, and Internet entrepreneur. He is known, along with fellow theorist Nick Land, for founding the anti-egalitarian and anti-democratic philosophical movement known as the Dark Enlightenment or neoreactionary movement (NRx).

In his blog Unqualified Reservations, which he wrote from 2007 to 2014, and on his younger Substack page called Gray Mirror, which he started in 2020, he argues that American democracy is a failed experiment which should be replaced by an accountable monarchy, similar to the governance structure of corporations. Yarvin has been described as a "neoreactionary" and "neo-monarchist" who "sees liberalism as creating a Matrix-like totalitarian system and who wants to replace American democracy with a sort of techno-monarchy".
Word up to Neil Gaiman for having had the savvy to buck that ugly trend with Good Omens... I am now very weary to watch anything that not based on an already-finished book.
Very good point. This also applies for lip reading, especially important in languages one is not proficient in or has some hearing hindrance. It was especially hard in the COVID pandemic where people where wearing masks all the time.