skysight-inc/HackerNews huggingface dataset:
> the only bank I can think of that was killed by its own customers (flaky VC herd)

Many of the VCs think of themselves as 'disrupters' who live in a world of disruption and taking advantage of it. Some are trying to disrupt SV for political reasons.

Once upon a time, VC funders were looking for incredible innovations in technology and productivity, not in tearing things apart.
I dislike Elon Musk, but apart from a few stability glitches the product seems fine and product delivery seems to be moving faster than it has in years.

I know everyone is waiting for it to crash, and you may be right, but so far, stripping (hundreds of?) millions of cost out of the business seems to be have been a good strategy from a technical perspective at least.
> USDT management does not buy long dated treasury bonds or deposit in banks that do so.

They don't buy long dated treasury bonds or deposit in banks because they don't have any reserves backing their "100% reserve backed" token.
This tweet thread has many obvious falsehoods, such as:

"Also by the end of the day today (Saturday) they stopped processing wires altogether."

Banks never process wires over the weekend. In fact, the following tweet in the thread admits this.

"The previous wording when trying to wire out of First Republic on Saturday is 'wire will be sent first thing Monday'. Now the wording changed to 'thank you for your transaction we'll get back to you'"

That was not the previous wording, and the wording did not change. (I just verified this myself.) If this was true, a screenshot proof would be easy to provide, but none was given.

"FRC's business model depends on a gentleman's agreement. Essentially, you deposit close to 30% of the loan value with FRC in a deposit account with a 0% interest rate in return for large (mostly) real estate loans at below market interest rates."

This makes no sense. For real estate loans, which the tweet specifically mentions, you would not just keep the loan amount sitting around in a bank account. You'd use it to buy the real estate that you got the loan for.

Etc.

This person is very confused, at best. Do not believe this tweet thread.
The people with money in their bank account are not going to wait 10 years to withdraw it, so that's a moot point. If they wanted those funds to be locked in for so long there are much better vehicles they would have chosen.
Sending money to support something the government has decided is a criminal enterprise

The government never decided the Convoy was a "criminal enterprise". I have no idea where you go that from.

The government decided the protests were going beyond that allowed, but that had to do with the people protesting, not the people sending in $10.

What's amazing to me is how you just dismiss all this. "Oh well, some guy who Paypaled $10 to an organization (and did nothing else) deserves to get his account frozen. Sucks to be him if you he can't afford rent or food."

What ever happen to due process? What happened to restraints on the government. What even happened to "innocent until proven guilty"?

Canada like to point to the US abuses like Gitmo and say they are better, but I think they are worse. Canada does it with no concern at all, no self-reflection on consequences, no public outcry.

They say that democratic freedoms are fragile and now I know why. So many people are will to take them away from others without a thought.
There needs to be a startup allowing to distribute deposits between bank accounts and operate them as single aggregate account. So that other startups won't keep their money all in the same bank. Not sure if I'm kidding or not.
Where did you get that GPT3 has 12288 size token embeddings? I thin that's the internal or output size of the token inside the transformer layers, not in the embedding table.
Completely agree with this hypothesis. Since early Friday I have seen the entire silicon valley VC class instantly aligned behind a singular message that if the feds don't immediately bail out every customer of SVB – who are not big tech but "small tech", they are quick to add – this will cause a run in every other bank in the country and collapse the economy. I listed to the all-in podcast today and yup, exact same points repeated over and over again by all of them. Coincidentally these VCs are the ones who benefit most from such a bailout. Pull up a list of short sellers of these banks and I wouldn't be surprised if the same names are on it (like the person who sent the Tweet). It's like a bunch of SV billionaires all got in a group chat and decided on a single plan of action to save their asses. And the ironic part is that it was this group chat that caused the bank run in the first place.
> Send them to a null address or commit to burning them in software.

This only has effect for coins with a fixed supply or at least of fixed schedule of supply.
Can someone tells me what is the point that so many researchers are spending time generating these weird images that seem neither artistic nor interesting?
Very high confidence that USDC goes back to parity on Monday. Tether is benefiting from opaqueness.
As I understand, their problem wasn't capital as such, it was liquidity. I.e. they had the assets that were above their deposits, it's just that these assets were not liquid, so when the run happened, they predictably couldn't raise liquidity fast enough. If that's the case, adding more capital would help only if it'd be enough capital to cover all deposits participating in the run, but I'm not sure many banks have that amount of capital just laying around, if it's in billions. FDIC has billions though.
Last time I use Octave for my NLP class assignment, I have to create some sort of Matlab stub to make it work since the scripts from the materials provides has many 'version checks' inside, besides that it works perfectly. And I encountered some compatibility issue the other way (Octave back to Matlab) because the professor uses Matlab to run the code we submitted to grade them.

Good choice if you don't want the whole Matlab monstrosity on your computer, but still have to deal with some itty bits.
> less fluid

We're never replacing our old-style PHP internal tools, because according to business users it's "instantaneous", and any attempts to use a more SPA approach cause complaints about "sluggishness".
Also: NOAA, USFWS, BLM, USFS, USGS, NIST, USCG, ... there's a lot. :)
Hardware leasing/equipment financing is OpEx. The difference vs cloud is you’ll get much more capability at a fraction of the cost and own an asset at the end.

I talk about it a lot on HN but if you really want to get the financial types excited about leasing there are all kinds of interesting options like Section 179 Qualified Financing that can often sweeten the pot further.
The Deputy Minister literally said "yes, that can happen under the powers of the Emergency Act".

Yet you skip over to the "well, I see no proof someone was affected so what's the big deal?"

I'm horrified by the fact it could even happen at all. That the government had the power to arbitrarily freeze someone's bank account with nothing more than a note from the RCMP. No evidence, no presumption of innocence, no right to argue in front of a judge.

Why aren't you horrified? Because it didn't affect you?

Next time it could be you.
You're right it was $3.74 https://ibb.co/gRLQBZ4 Returning under 300 characters and the prompt sent was about 10 words in length.
When you are this brief, I’m left guessing as to exactly what you are saying.
I would actually argue the opposite. Sports clubs are a great way for students to bond, to socialise, and to organise - not the only one, but around here, clearly an alternative to traditional student clubs and study associations.

This is fine and dandy for up to middling levels of achievement. But universities have no business being in professional sports. They do have a business accommodating professional athletes of a variety of sports, but that's where the mid-level sports clubs come in: enough decent facilities to stay in shape, but not required to provide Olympic-level of training.

If sports clubs want to aim higher, it's up to their (student-run) board to get there. Basically: universities should provide decent facilities, not run the teams.
Padding + masking. So the transformer doesn't waste time on the padding.
Maybe one day you’ll be able to tell ChatGPT what kind of model you need and it’ll automatically select the right architecture, gather the training data, and commission the training using the cheapest and/or fastest provider. :)
I got my first job at 19 after the dot com collapse, I was hired _because_ I had no work experience, no degree, and no expectations of salary (I was hired on minimum wage, though). They wanted a few people with no understanding of what it was like before the crash.

I hope you find something!
Tech execs race to save startups from 'extinction' after SVB collapse
+1 despicable behavior.

If even one option or short position is found for anyone involved I hope they face jail time (spoiler: they won’t).
Meta to end news access for Canadians if Online News Act becomes law
https://www.yahoo.com/news/m/39746a2b-9c9d-3c3a-8282-78f00d2...
If you're using Typescript you need one.
>The book value was predicated on holding the assets to maturity.

That is an accounting practice; it has no bearing on the actual value of the asset. The same is true with calculating cost of goods sold; you can actually choose to use LIFO or FIFO costing to alter the accounting value of your inventory for tax purposes and such. Look up "LIFO liquidation" to see an example of what I mean.

Using generally accepted accounting principles, you have some room to conceal extra value or loss on your balance sheet. But the cash flows don't lie.
Some of the tweets of founders affected by this are horrifying.

https://twitter.com/lcmichaelides/status/1634654751479541760

https://twitter.com/torrenegra/status/1634573234187407369
What is your reasoning behind this?
On paper SVB might well have been solvent until they got withdrawals. This is possible because you can account for bonds in two ways: mark to market, or held to maturity.

In the second case you don't look at market prices. This actually makes some sense. If you intend to hold your bonds to maturity, any unrealized losses will naturally resolve themselves as you reach maturity. Hence a balance sheet that doesn't mark the losses is a more accurate picture. But only IF you never need those bonds for liquidity.

Note that liquidity crunches can ruin balance sheets even without this bond-specific feature. For example if you own 10% of a company stock, and need to dump all of it, the price will drop by a lot. They were accounted using Mark to Market, but even that was too optimistic in the face of liquidity crunches.
Svb.com Has Been Updated
Hmmm private equity licking their lips. Tech is still over valued in P/E terms so they haven’t been biting but expect a lot of companies purchased and taken private. If you are in the right position you can make a lot of money on the upside as an IC if they cut you into the turnaround. Otherwise go find a new job.
Only need about 20% of the engineers are dedicated to keeping services running in any tech company.

The other 80% are focused on new product features, growing revenue, growing engagement, growing new user signups, l blocking bad actors and legal compliance.
SVB Securities management exploring buying firm back
Also cool with a reply from the original creator of the game…
Neither is evidence-less overly-general assertions like “startup industry bad”.
It is just a joke. React is most popular, so it is the most risk averse choice. Vue is better in many technical areas, but there is not that popular. So that is a trade off that you need to consider. And many business would prefer to be risk averse
Then why the long rambling on the moral outcome?

It can be both true that the collusion is legally shaky—I’m not disputing that—and the author has an axe to grind.

I believe the writer wants a particular outcome for reasons beyond just forbidding collusion.

Finally it’s also true that the DoE’s national accreditation can forbid athletic scholarships.

I personally believe it should, if we want higher education to be about cultivating knowledge and intellect again.

It may even drive out the big business that college sports has become, along with the administrative bloat to support it.
Could be I used an older API with the newer model. But there was no loop around the request only human input with mouse clicks from two people. Whatever was happening on the billing side there is zero chance Id ever post a project to HN for example.

fetch("https://api.openai.com/v1/chat/completions", {
method: "POST",
headers: {
"Content-Type": "application/json",
Authorization: `Bearer ${window.localStorage.getItem('apikey')}`,
},
body: JSON.stringify({
"messages":[
{"role":"system","content":""},
{"role":"user","content":""}
],
"temperature":0.9,
"max_tokens":300,
"top_p":1,
"frequency_penalty":0,
"presence_penalty":0.6,
"model":"gpt-3.5-turbo",
"stream":false}),
})
])
So prior to this week, the last real US bank runs -- in the classic sense, a Type 3 caused by information-fueled panic -- were between 2007 and 2008. In chronological order: Countrywide Financial (2007-08), Bear Stearns (2008-03), IndyMac Bank (2008-07), Washington Mutual (2008-09) and Wachovia (2008-09). Wachovia specifically was a, "silent run".

Before that? Basically you have to go back to the 1930s. There were some issues during the Savings and Loan Crisis (ex. Ohio), but none are considered to be Type 3s.

We have managed to go backwards 90 years.
You can also connect with https://visionaid.org. They are a non profit who offer accessibility testing. Maybe you'll be able to join their team. We recently tested our product with them.
The Hunt For Red October never got wet. The underwater scenes were miniatures with smoke floating to give the appearance of water. Listening to the stories of the people working on these types of models and the details they put in is so much different than someone at a computer with a 3D app.
> Spread your yearly cash burn over 5-10 different banks, buy 1 year bonds and roll them over with the rest.

That’s almost what SVB did, but they got hit by an “unexpected cash burn”. 1 year government bonds may be at low risk of default but there’s a high risk of interest rates and market conditions changing in that time. If you suddenly need the money in 6 months and interest rates have changed, you’ve lost money. You’d need to buy monthly bills to be truly safe and then have the cost of rolling them over every month. Ironically SVB offers a product that can help you do that:

https://www.svb.com/liquidity-management/deposits-and-invest...
Arguments are made that those particular regulations would've never had any impact/made the problem worse. Rinse, wash, repeat.
Do these amphetamines make people more talkative?

I recently met someone who says they take Vyvanse for ADHD and they just can not shut up, and constantly butt in on conversations to tell everyone about themselves.

I didn't know this person before they started taking these meds, but I suspect these meds might be a contributing factor to that behavior. Could that be so?
It could only have panned out if the interest rate have remained. Once the interest rate increased, the deposits will chase higher rate, which SVB can’t provide and depositors will naturally withdraw their funds.
Editing 4k videos/raw photos is an outlier as far as PC tasks go.

Your argument "that's a myth" is based on a task that's so small in terms of percentage it's literally a rounding error.

I'm typing this on a 2010 computer (i7 870 @ 2.93GHz, 16GB RAM), which I also use to write software (C, Lazarus, JS, Go using VSCode, Vim, Emacs), browse web, use web apps (miro, tinkercad, asciiflow, a few others).

Inkscape works acceptably, light image retouching using Gimp works acceptably.

I used to play Starcraft II, Far Cry 3/4/5 on this machine until an upgrade nuked my Wine installation and I didn't bother to fix that.

My steam library is filled with games that work on this machine.

Out of the thousands of tasks that people use their computer for, two of them can't be done acceptably on this machine.
I currently work as a software/data engineer, but spent 12 years doing fundamental biochem & life science. My MSc was on the characterization of extracellular vesicles in the context of horizontal transfer of information in ccRCC (kidney cancer) cell lines.

I worked closely with one prof (not my PI) who specializes in the study of mitochondrial metabolism in fruit flies, but fruit flies are not my area of expertise. I know just enough to know that there’s an enormous amount of literature on the subject.
The hole is worst-case around $500 million. SVB will be liquidated and Circle will see the majority of their money back. They make 5% in interest on $40 billion in assets so they can cover this hole in a quarter. They also have significant backers and the ability to raise money. Short term FUD. I have been buying all the way down to 88c and am already in the money so I’m financially incentivized to convince readers here. But this is just unwarranted panic.
All the billionaire VCs who got on a group chat and caused the SVB run and are now retweeting this nonsense are going to find themselves in front of Congress in a few weeks time having to explain their role in this round of market panic.
This isn't really an explanation of why they failed, just applying a macro explanation to a micro phenomenon.

The bank bought long-dated treasuries for the 2% yield (as opposed to short-term treasuries yielding next to nothing). The moment rates went up they were going to start losing a lot of money mark-to-market. This could be tolerated, except they also had an undiversified deposit base withdrawing money and forcing them to take the losses, and so they blew up.
A benevolent take: yes, perhaps that’s happening.

A non-benevolent take: why would you do that with your own money if you can make it happen at the expense of somebody else?
It's also a general expression of lack of confidence in the US banking system.

Exchanges that offer true "USD" trading pairs ultimately have to store that cash [at a bank] somewhere. But at which bank? Before this week, most people probably wouldn't have paid attention.

Some like Coinbase offer passthrough FDIC insurance [1], but again, if you have more than $250k you're potentially s-o-l just like an SVB depositor.

So weirdly, 1 USDT ("definitely sketchy but somehow has never broken peg") all of a sudden may seem less risky than 1 "USD" at [which bank again?].

[1] https://www.coinbase.com/legal/insurance
Their customer support pages with built-in live chat do. And I'm assuming we're excluding aws.amazon.com with realtime graphs and viewable log streams.
The entire point of depositing money at a bank is that it is a very unrisky place to keep it.
Even though I am a native English speaker I find English difficult and I feel sorry for those who learn it as a second language. English is both complicated and difficult to use correctly and with precision and elegance; that a very small percentage of people are excellent communicators is testament to the fact.

To communicate efficiently and effectively in English either verbally or in writing requires not only considerable knowledge but also skill and practice. It can take years for a native speaker to acquire good idiomatic English and I feel envious of people who can get up on a podium and speak fluently without notes and be clearly understood by an audience.

It's often noted that those who acquire great skills in English not only have the knowledge, skills and ability to apply themselves to the task but also they have, per se, an innate ability for languages that's over that of most people. This came to my attention years ago when I attended a lecture by Noam Chomsky when he bemoaned the fact that some of his colleagues could acquire languages easier than he could. He said with words to the effect 'a new language can waft down the corridors of MIT and just pass me by only to be quickly absorbed by colleagues'.

Acquiring and using English correctly is no doubt considerably more difficult than some other languages but what Chomsky's comment emphasizes is that being truly proficient in any language can be difficult and challenging. It's just that some of us are better equipped for the task than are most of us.
Youre reading the snarky gusto in your head. My point was literally that small mistakes and even something operational scaled beyond extremely small user bases is not "cheap". If two humans clicking is five bucks in an afternoon. Regardless of how it happened. If id linked whatever I had done here Id be easily looking at 10k for people like you to assume bad faith. Its especially not cheap compared to using a smaller language model locally for anything but generation.
Sounds also as a great opportunity for the, so called, "angel investors" to show that they are.
The Global Financial Crisis.

https://en.wikipedia.org/wiki/2007%E2%80%932008_financial_cr...
I'm impressed. I went to high school in the 90s in Canada, at a shop/tech focused school. There's lots of things I think are super important (business, ethics, communications, financial literacy, civics, things like cooking and cleaning that used to be called "home ec") that were simply not on the menu for us.

Sure, there might be the occasional teacher who could spend a few minutes on a good question, but it was not part of any curriculum, so far as I could tell.
I’m fine with the tech layoffs and “Musk being right” movement. Mostly because it has generated a large shitlist of companies I will never work for, will never invest in and will never integrate with or recommend.
Fine-tuning 20B LLMs with RLHF on a 24GB consumer GPU
Ah I see. So it's more about "hmm why did 100 (wo)men in black(tm) just all checked in -- something big must be going down -- oh they're all just here for the numismatic convention"; and not "hmm isn't that Bob who works for the FDIC? What's he doing here?"
They train on years of real-time streaming video. Feedback loops all over the place. Higher order structures and rules all get learned way, way before they even are able to touch a book. I cannot phantom the amount of data and analyses that passes a typical human child in a day.

So, sure, they can learn fast after all that. But so can GPT, which also one-shots a lot.
> SVB got unlucky due to some unique structural problems

"Getting unlucky" in banking is making a few risky loans, getting defaulted on, and coming below projected growth for the quarter. The bank's revenue gets a hit, the shareholders takes a haircut, all part of the playbook, happens every now and then. What "getting unlucky" is not is not understanding interest rate risk so much that you blow your entire bank up. It's like calling someone who drove drunk and killed 16 pedestrian "little unlucky while turning a corner", absolutely not in the same ballpark.
Mmm... like strong encryption? Plenty of good things get bipartisan hate.
Ok good? I'll just get it from somewhere else.
>Be careful of what hard dependencies you choose.

>Except in this case you want more “dependencies.”

More specifically, if you must have 3rd party dependencies, make sure you fully understand the risks, distribute exposure to adequately minimize central points of failure, and have failover procedures in place to reduce possible downtime.

The technical crowd that successfully run high-uptime web infrastructure with demanding SLAs generally understand this idea very well.
That is a great article that conveys both the facts and the drama around an FDIC takeover.

I can also recommend the movie Margin Call which includes a fictionalized account of a similar takeover. If you haven't seen it before, this may be the weekend to watch it.