skysight-inc/HackerNews huggingface dataset:
Don't know what this 1.000 is supposed to mean, but Uniswap is never trading dollars anyway: they do not exist in defi.

One can calculate the implied USDC/USDT rate from that very page by pricing a swap for 1 ETH or BTC for USDT vs same for USDC. The USDT quote is similar to CEXes for dollars, and the USDC is substantially higher, aka value of 1 USDC is well below 1, on Uniswap itself.
That the interest rates were at 0% for so long implies that the rates will have to be going up in the near future. They can't stay at 0 forever, and 10 years is a very long time.

The obviously risky bet is that the rates would stay 0.
Doesn't Coinbase own a significant part of Circle though? Probably shouldn't let USDC go to zero.
I don't already fully trust the images, audio and videos I take with the phone.

I'm working close to HW and I actively use the camera/picture and videos for future reference and debugging. It's small, fits in your pocket, and the bloody thing can record at 240fps to booth!

Until you realize there's so much post-processing done on the images, video and audio you can't really trust and can't really know if you can turn it all off. The reality is that if you could, you'd realize there's no free lunch. It's a small sensor, and while we had huge improvements in sensor and small lenses, it's still a small sensor.

Did the smoothing/compression remove details? Did the multi-shot remove or add motion artifacts you wanted to see? Has noise-cancelling removed or altered frequencies? Is the high-frame rate real, interpolated, or anything inbetween depending on light just to make it look nice?

In the end, they're consumer devices. "Does it look good -> yes" is what thrums everything in this market. Expect the worst.
Is ESG Profitable? The Numbers Don’t Lie
AI facial animations is just a half step away from this.
I don't understand why people are blowing this out of proportion. SVB had $100 billion of securities that are now worth about 70-80 billion. That plus short term securities means they've got $100 billion liquid against $170 billion in deposits. So ~60% of deposits are coming on Monday.

They've got an additional ~70 billion in loans that are likely less liquid to fill the remaining 70 billion of deposits. It's less certain how much these are worth but they're at least worth something.

Net result is that depositors are losing 0-40% of their money. Much more likely that it's 0-15%. Which sucks but it's not going to kill an otherwise healthy company.
I was answering your question: "The percentages [of dangerous assets that they hold] don't matter." But apparently the answer went over your head. Never mind.
Lehman Brothers went down before Madoff. USDC goes down before Tether.
> I don’t think it’s so much “high risk” as it is “non-traditional.”

Funny how tables have turned recently. Now it's other way around more often. If your start up is actually manufacturing something, a physical item, the banks deem the business as non traditional...
Go figure...
Happy SVB customer (until this week) for my venture backed startup.

The big banks refused to even open an account for my startup. Our business model is incredibly common but due to it being "fintech" we could not open an account.

SVB still had a decent amount if KYC stuff and paperwork but would allow us to operate.

Another banking platform we used literally reversed the incoming wire from our lead seed investor, even though i called the bank before telling them to expect a large deposit.

SVB was great to work with. The people are fantastic. The big banks on the other hand...
And if history has taught us anything, they will walk away without any consequences.
Meta Looks to Divest Kustomer Amid Efficiency Drive
As far as OP goes, this situation is hard to judge, but if somebody seems determined to end your career there, your best bet might be to try and document your Aspergers with both HR (and also perhaps some non-insane upper level manager in your company who might be able to provide some pushback from above) and ask for reasonable accommodation for your medical condition. Aspergers still puts you lower on society's oppression scale, but it's at least something medical that can be documented and makes them more cautious about this circumstance and just taking her word for it without a fair shake. And you'd probably want to do it quickly.

As a general statement on society, this kind of thing is probably rare, but it's common enough to make me see it as a negative risk to work with anybody other than straight White (or maybe Asian) men, because everybody else has social power over you to fuck you over for any perceived slight.
And that’s if your employees show up. People quit last minute and need someone to cover their work. Anything you hire someone else to do as part of a labor industry you’ll need to be prepared/willing to do it too.
The Last Time the U.S. Tried to Make Daylight Saving Time Permanent (2022)
I find this rather ironic considering how no-context links is exactly how not a few HN posts are submitted.
The fed recently reduced reserve requirements to zero, so banks need exactly zero cash on hand to fund withdrawals shockingly

And circle had ~$10B is cash at banks for redemptions, $3.3B of which in SVB
I don't think things are as simple as that. Maybe for example there are some technological or scientific breakthroughs with cross-domain application that come as a result of work that at present is practical only with the resources of giant companies like Google/Facebook/Microsoft. I think it's fair that engineers and scientists get to work for whatever employer they choose, doing what they do best and advances their expertise, without being judged negatively. I think the acquired experience and knowledge itself will leak, one way or the other, in applications that bring a net positive, even if the activities of the specific employer are not directly positive. Morally-wise, I think the onus shouldn't be on the workers any more than it should be on the consumers, so someone working in the fossil industry shouldn't be considered more responsible to the climate change than someone consuming fossil fuel.
The last medium flat white I bought was about $7 :S
For the super high provisioned laptops it seems like Applecare is a steal.
Inciting a bank run is illegal (edit: only if done with false statements so may not apply), I wonder if coordinating one through multiple investments that are supposed to act as independent entities is too?
Traute Lafrenz, Last Survivor of Anti-Hitler Group, Dies at 103
No. SVB was not a bank for high risk people. They were the 16th largest bank in the United States. They were a regular commercial bank. First Republic, Northern Trust, etc are all very large banks that cater to specific clientele.

It’s not that they catered to high risk clients it’s that they understood that the definition of risk was not universal. What may look risky to Bank of America isn’t actually more risky if you know the nuances of startups.

Or put another way, the odds that a new commercial Bank of America company goes on to become a 10 billion dollar company is probably 1 in a billion. The odds that an SVB customer would go on to become one is probably 1 in a thousand.

But the important thing is that SVB didn’t fail because of bad credit or bad loans - something you’d expect from riskier clients. SVB’s problem was that they had more deposits and cash than they could handle, they literally had too much money and the fed has raised interest rates too fast for them to absorb.
you are carrying your laptop around on vacation to take photos? when you go out? when you go on a hike?

when you are going on a run, or a bicycle ride, or you're lying on the beach or take a bus, you take your laptop out to listen to music?

...
Circle’s USDC Stablecoin Breaks Peg with $3.3B Stuck at Silicon Valley Bank
In practice, the demarcation line for "systems programming" is when the software directly controls and manages the hardware resources it uses. Software like this takes on some of the characteristics of an operating system because it is required to provide similar functionality, even if not an operating system per se. In application code, some other piece of software, usually the operating system, takes care of this for you.

Database engines are an excellent example of this spectrum. Some simple databases contain no systems programming at all whereas advanced databases are essentially complete operating systems that run in user space. If you walk the code bases along this spectrum, you will see a shift in the construction, character, and design of the code base as more of it transitions from "application" to "systems" code.

The distinction is important because systems programming is a different skillset than applications programming. For example, there is often a requirement to do a lot of sophisticated scheduler design that is integral to the correctness of the software in systems programming. Application programming rarely concerns itself with this, it relies on threads, locks, etc and has the OS sort out the scheduling.

Outside of actual operating systems where systems programming is unavoidable, the primary motivation to do systems programming in a user space application is it can greatly improve performance, scalability, and robustness.
Resilience Is the Core Risk Discipline
Yes but all hardware companies do that, and that is not what the author seems to be discussing. The article seems to me to focus on the unique nature of making hardware tools to support remote work.
The hosts are self-described “dirtbags”, who hew to Marxist economic principles.
If you reply directly to your initial tweet with your correction (perhaps QTing the person who asked), I think it will appear at the top, or at least get higher ranking. I often see replies "boosted" via the original author QTing them as a reply this way.
Ok. But who is ever going to put money in SVB after this.
It becomes a bigger deal with you need to pay your bills now and you can't access your money. Maybe for months.
At least once in a while, I feel better for not having a job.
If Circle is healthy they can make tons of money buying USDC at a discount.

The fact they’re not doing it should tell you how solvent they are. Buying their own coin is a guaranteed 10% instant profit, why are they not moving?
“But the firm learned that its limited partners were encountering issues using SVB services as they tried to transfer the funds”

This though was not in Thursday.
The middle ground seems like business owners pricing their product appropriately to actually sustain their business. $2 for coffee seems ridiculously low. Is that normal in California? Maybe such under-pricing is part of the problem?
Given the economic factors + SVB's deposit base, what should they have done differently?
Start a social media empire that depends on the availability of user data.
with no dog in this fight, I see this as some enforcement grudge match from NY capital old-school on California capital new-school, triggered by zero tolerance for crypto.

IMO - almost all the leveraged finance in the last 20 years is already over-the-top and mostly "fake money".. who gets the axe first is politics. Supporting statement to this heresy? When the "real economy" tanked due to covid-19 lockdown, the paper tigers of Bloomberg continued to gain wealth, not a little, a lot. Where does that come from? ad sales alone? Oil and Gas Arab cash leveraged out into a hundred counter-parties with big names? Whatever the "technical" explanation.. lots of musical chairs games are up today. cheers

edit cannot help but pile on here.. Roku (who I have never heard of as a consumer) had two Billion USD in cash ? wtf
> The big banks refused to even open an account for my startup.

> Our business model is incredibly common but due to it being "fintech" we could not open an account.

what's the name of your startup?
But then how does McDonald’s make the economics work? Just scale?
> Jai for example offers a special keyword, so the code is written one way (AOS) but the memory layout is converted into SOA.

I believe Zig has a stdlib function that allows you to do this, and I'm pretty sure there's also a Rust crate that provides a proc macro for it.
I genuinely cannot tell any more if "tech" is as fart-sniffingly high on their own supply as they look, or if it's an act to sucker in more money. Or if there's even a difference.
The idea that all jobs should provide enough compensation to live off of is just not possible. Face it now or later, but a charade which requires financial support will eventually crumble.
Ah, thank you for that context. Assuming this mechanism doesn’t have any major tradeoffs, I think it seems likely that popular packages will make use of it?
I admittedly understand very little about the crypto ecosystem, but how is this not a death knell for USDC? Wasn't its entire premise built around maintaining 1:1 parity to the US dollar? That feels very binary to me. If one USDC does equal one US dollar, then the coin has failed, no?
Cashflow, what is it, how does it work
> I don't think the federal government was incompetent, they simply don't have the tools to deal with that kind of policing crisis

It's not just about policing. For anyone who is looking for the document, see here: https://publicorderemergencycommission.ca/files/documents/Fi...

Section 25.2 says this in the context of the "fringe minority" comments made by the Prime Minister early in the protests:

> I expect that the Prime Minister was intending to refer to the small number of people who were expressing racist, extremist, or otherwise reprehensible views, rather than to all Freedom Convoy participants. It may well be that his comments were taken out of context, including by some media. However, in my view more of an effort should have been made by government leaders at all levels during the protests to acknowledge that the majority of protesters were exercising their fundamental democratic rights.

And further in 25.3:

> Had there been greater collaboration at the political level from the start, it could well have assisted in ironing out the communication, jurisdictional, and resourcing issues that plagued the early response to the protests.

All in all I found it to be a really well written document that does a really good job of breaking down the timeline, the various players, the affected legislation, etc. The media headlines lost so much of the nuance of this report and I was pretty disappointed by the general reception of it.
Annoying Password Rules Make Us Less Secure
SVB is gone. Forever.
In crypto and non-crypto there are a lot of Madoffs, so we should choose the order of events carefully.
Nobody? The bank no longer exists…
IANAL but my layman’s understanding is no, there is no law preventing them from halting withdrawals and a temporary suspension can on rare occasions stop a bank run. Problem is, clients can sue to get their withdrawals and the judge in charge of the case can force the business into involuntary bankruptcy proceedings (without the protection of voluntary bankruptcy) if they think the bank can’t meet the withdrawals in full, to get a valuation of its assets so that the plaintiffs can be made whole. This won’t happen over the weekend because courts aren’t in session but can happen on a week or two timescale, in which case the business is basically frozen for months while everyone fights over a half dead carcass. It’s a relatively catastrophic outcome for everyone involved.
Yes, that was one of my first resources for online information. I've never heard of the site from the article.
The bank formerly known as SVB is no longer, it's now called "Deposit Insurance National Bank of Santa Clara" as a sort of temporary organization.
> All this to say, I wish there were some middle ground.

You and a bunch of other weirdos :) https://en.wikipedia.org/wiki/Distributism
I self-publish fiction in my spare time and this article reminded me of that. In my dreams, I would be typing away at my computer in some cozy coffee shop or something, crafting my next awesome book.

That _does_ happen, but I'm also spending a ton of that time communicating with cover designers, booking editors, fighting with figuring out marketing, writing blurbs, hosting a website, running a newsletter, writing bonus scenes for newsletter magnets.

If I didn't care about the business side of it I'd just be sitting there writing with not a care in the world, putting it out there with no proper planning and crappy covers. But while I don't _enjoy_ doing a bunch of that other stuff, the success of the thing and seeing royalties come in is part of the fun, so I'm compelled to do it.

In the end the other parts may not be _fun_ for me, but they sure are satisfying when a launch comes together (or, alternatively, sad if the book flops).
What specific bank regulation are you referring to?

How much of bank regulation is smart, genuinely well-intentioned, and actually is enforced?

How much of bank regulation exists to protect people, and how much of it really exists to restrict potential competition in the marketplace?
Interestingly enough one of the reason Sonys flagships perform really badly in comparisons is because they are weak at computational photography. So even when the sensor is great it looks too real, which people don't like.
That would make a great Black Mirror episode... and a terrible dystopia if it becomes reality.
Show HN: Swiftdocs: Automate your email and PDF in 3 simple steps
That's probably the exact reason for the clawbacks.
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> Ahrefs bot really freaked out, unlike some professional bots like Google's, and even Yandex' bot.

> Also, Ahrefs bot doesn't handle some things very well.

But that was... 7 years ago?
In other words, SVB was willing to shoulder a greater amount of risk than the more staid banks. There's nothing wrong with that at all -- but taking on more risk is taking on more risk, and sometimes you end up getting burned by it.
> reserves

So likely 0?
No reserve banking, like fractional reserve but the fraction is zero. Instead the banks have to be able to pass stress tests which requires that they have reserves which in effect will be a fraction of deposits. It’s more complicated, less transparent, open to gaming, and there is huge incentive not to fail a bank. Also they often allow the use of cash-like instruments which are often riskier and less liquid and probably misrated by compromised rating agencies. The standards were lowered so that the banks would inflate the economy.
They (stable coins) go up and down in small increments all the time, as the peg adjusts. Even Tether at one point was worth 0.91 USD but recovered. They've had a bunch of dips but somehow seem to always recover.

Until they don't, I guess. Haven't happened yet, but shouldn't say it's impossible.
> I wish there was some CAD software that had such a reasonably priced hobby use option, but SOLIDWORKS is $99 per year, Alibre has a cheapish option but they slightly annoyingly shift a lot of features into the £1000+ versions. Probably the best option at the moment tbf (other than piracy).

FreeCAD as a general purpose CAD software is not that bad. I've used it in combination with KiCAD that we use at our company to design PCB and for our needs is more than enough and works fairly well.
If people did this, it'd be a better world.

Mobile would not have ruined our Internet and GUIs and psyche, and people would probably not take pictures anyway and live in the moment as a bonus.
For me it was longecity that got me into nootopics . I got in the first group buy , it was nsi-189 since then I've been invited in underground groups that go far beyond that .

Super interesting world we are living in
Unless they use sweep accounts, accepting that those accounts can in some cases have different pros and cons per bank such as early withdrawal fees and minimum limits to avoid fees. Sweep accounts can raise the FDIC insured amount per depositor.
> A bank can make an infinite amount of loans. They are not constrained by anything.

They are constrained by capital and/or reserve requirements

> The way a loan works is: they make a loan to someone and then "just in time", they borrow the money from the Fed to cover that loan.

Nope. Banks can borrow against their government securities from Central Banks by "rediscounting" them during discount windows, should they need extra liquidity. Note that this is not the preferred method since Central Banks usually charges a premium. These are secured loans.

See https://www.federalreserve.gov/monetarypolicy/discountrate.h...
> The cash in banks

Why do you keep insisting on the "cash"? The by far least important kind of money? First of all everything is just virtual, electronic. Only a tiny fraction - and only temporary! It's not stocked at home, but used to buy something and that means deposited again in another bank - is "cash".

And yes, the bank deposits are "out of thin air" -- https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m...

Yes banks need some reserves, but this is waayyyy more complicated than them using the deposits. Which, for the most part, are not cash. That's only that tiny fraction of paper money use din circulation, which also is a lot less than it used to be with all the card-money.

https://www.bankofengland.co.uk/explainers/what-is-money

In the UK, as an example:

> 96% is electronic

> 4% is cash

USD is different because that currency is used for far more than just regular circulation, and world-wide. But even then estimates are ca. 8% cash maximum, for the world, which includes a lot less sophisticated economies. A bit more for the USD for obvious reasons, but most of that is not circulating in the US economy.

In any case, even in the US, with all its cards and card payments, money is mostly electronic and not cash and is transferred from bank to bank and hardly leaves the banking system.

ABOUT THAT TERM "OUT OF THIN AIR"

I've seen articles arguing money is not create out of thin air, e.g. https://cepr.org/voxeu/columns/banks-do-not-create-money-out...

> commercial banks create private money by transforming an illiquid asset (the borrower’s future ability to repay) into a liquid one (bank deposits); they would quickly be insolvent otherwise

Uhm.. yes, exactly. They can't do it at will, they need a borrower to sign. I mean, now we start arguing definitions, always a bad sign, especially when both sides actually are in perfect agreement and it's about the words used. This article to me is just weird, arguing it's not out of thin air, while everything being described says just that, only that their understanding of "out of thin air" is subjectively different than that of many other people. But there is no difference in knowledge and opinion about the underlying mechanism, only disagreement about some fuzzy term that some like to use and some apparently hate for whatever reason.

For arguments about definitions I would like to point to "Disputing Definitions" (6 min read) https://www.lesswrong.com/posts/7X2j8HAkWdmMoS8PE/disputing-...
Does anyone know if there's an estimate of what % of Y-combinator companies used SVB?
Darling little place... great view: https://www.google.com/maps/place/Buccaneer+Cafe/@33.1770639...
I made the mistake of doing this once and never again. I ended up deferring almost $20k into stock that never became worth anything. The company went under and I was so low on the list of people getting paid that I got literally $0.