skysight-inc/HackerNews huggingface dataset:
Isn't this a bit of a narrative switch? It seems like this started with empathy for founders and employees of companies with deposits at SVB, and I feel that very strongly, for all those individuals.

But then there's this whole other narrative about the banking system as a whole, and that side of this I'm much more annoyed by. It really reminds me of the financial crisis bailouts, which I found frustrating, being painted into a corner like that and forced to save the banking industry. And this is frustrating for the same reason. Which is not to say it isn't the right decision! It was the right decision in the financial crisis and I trust that it's the right one now.

But until the FDIC and Fed and Treasury clearly all came to this conclusion, I was more skeptical of this narrative, because most banks don't have such a high concentration of uninsured deposits as SVB did.

But I do trust that the regulators had more information than me about the systemic risk of this, and made the right decision, and like you said, I'm very glad we have that institutional capacity.
I'm the last person who wants to defend Peter Thiel. But... he was right. That's not "dooming" anyone, that's... giving good financial advice. The bank was unsound! People should have gotten their money out.

It's true that there's a game theoretic problem here where it's not possible for everyone to take that advice. But... what's the solution being offered? Demand silence on the part of everyone who sees bad financial status?
You can have your own private definition if you like, but people talking about financial failures having using the term "bailout" in connection with all sorts of stakeholders for decades.

The word games being played around this are just embarrassing.
Alacritty has this function built-in, just define `SpawnNewInstance` in the config file:

key_bindings:
- { key: T, mods: Control|Shift, action: SpawnNewInstance }

https://wiki.archlinux.org/title/Alacritty#Spawn_new_instanc...
> You can sell USDC for dollars at other exchanges, no need to go through BTC/ETC/whatever. For example Gemini has a USD/USDC pair. It won't be pegged to a dollar, like if you redeem through circle but getting $.99+ on the dollar is probably good enough for a lot of people.

Wow, this is scary. It reminds me of the history of monetary economics in the US during the 19th century, a period known for "wild cat" banks and a system where any bank could print their own private currency. In that system, currency was discounted the further away it was physically from the bank which issued it. The system was divided between "city banks" and "country banks." The more remote the location, the less up-to-date information was available about the health of distant banks, and so the more distant currencies were discounted more heavily.

The modern crypto wild west version of this is going to end in a result of going from "getting $0.99+ on the dollar is probably good enough for a lot of people" can turn into "getting 0.01+ on the dollar is as good as it gets" within minutes, if and when there is a run on crypto stablecoins.
But isn’t your CFO planning for financial risk? Do you have hazard insurance on your leased offices, what happens if one of your key employees is unavailable, a large customer is late on payment, you get hit by supply chain issues, etc.

You can’t seriously tell me that the CFO who is responsible for corporate finance at these SVB customers didn’t realize a business checking or savings account is not fully guaranteed? It’s in every single bank brochure and statement. If that’s that case, they need to suffer the consequences of poor contingency planning.
Newton explicitly checks in Principia that the orbital parameters of the moons of Jupiter are consistent with the "empty space" hypothesis.
Do you consider a bank with one billion in deposits and one million in assets solvent as long as there are no withdrawals?

Are Ponzi schemes solvent until they collapse?
It's likely sex workers under-report. Possibly for the same reasons women at large do, but I would suspect for different reasons as well. The justice system isn't always equal in how it treats the victims of crime, irrespective of an individuals own breaches of law (and its only a hypothesis that sex workers ARE breaching the law) you should be treated the same, but you aren't.
And once again, I can't believe I'm saying this in defense of Peter Thiel, but isn't the Occam's razor answer here just that... he was giving his friends good advice? Anyone with money in that bank should have gotten it out, that's not a controversial fact. Surely even Thiel has people he'd rather see not lose their shirts.
This tiny script keeps my gmail inbox clean and manageable.

It auto-archives any emails older than 2 days (you can change this obviously) unless they're starred - this changes my email experience in two ways:

1) My email inbox ONLY has emails that are either new or that I decided were relevant. I have two days to notice this.

2) When I'm scanning my email, if I see something important that I don't have time to deal with, I can star it and keep moving and know that it'll still be visible and in a manageable-size queue later.

When I travel off-grid it is a bit of a pain since I have to go through a lot of archives, but that can be addressed by just turning it off.

I also ruthlessly unsubscribe to things I've stopped reading to keep everything manageable.

https://github.com/AlexMakiJokela/Gmaid
No, because I'd get banned.

I gave it a prompt containing the word of n and it actually ignored it but started talking about the Jews in terms that would make 4channers blush.
No, the point is that shareholders of the bank are investors in the bank, and investment comes with the risk of loss. Depositors in a bank are not investors in that bank.
The timing of YT making it free to watch with ads recently (https://www.youtube.com/watch?v=78eq-EtOuaM) is impeccable.
I'm not saying I agree either way with the law, but if you don't just take out your money, but encourage others to take out theirs as well, you are encouraging a bank run and there are specific federal laws against doing so... speaking of legal risk.
Okay, this does not add up. She's sick and her friend's reaction is to whip out a camera and start filming and begging? Beyond that, "chronic fatigue" is mixed far more with mental illness than it is physical illness. And more often than not, long Covid fatigue does not get notably worse over time, it stays consistent or improves.

I've seen long Covid first hand. I'm not sure I buy this, especially with the e-begging attached.
How does the caller know an ambulance is coming? How do we know the call didn't end up in a black hole?

We see where the driver is on Doordash. Similarly there should be a text message confirmation with a tracking link to the ambulance on the way and the destination hospital.
I looked into her company. It seems to be some sort of personal assistant service for $600/mo, $1500/quarter, or $5,900/year. And there's a page trying to convince employers to get the service for their employees so that they can be more productive at work.

Small company from Ohio? Sure. But their target demographic is definitely not small town Ohioans.
You're talking about financial risk like it's physics. Consider that financial risk is a psychological tool we invented to balance human behavior and we can reshape the tool whenever we want.

If you can consider that perspective, think about the activities we want to incentivize vs disincentivize in helping us decide when we _should_ reshape that tool.

Are simple bank deposits really something we want people to feel shaky about now and in the future??
> what financial advantage is he meant to have then gained by encouraging others to do the same?

Assuming the FDIC doesn't make everyone whole, then all of his portfolio companies using SVB will see themselves with valuations lessened by whatever amount of money was lost.

i.e his investments would burn.

That said, we may very well see an outcome where everyone's just fine and instead his investments see a more difficult lending environment. There was once a california law about encouraging bank runs, but it was struck down in 2012 apparently. So not sure what else might apply in criminal or civil code.
> Yeah. If you've ever had to deal with metastability .....

I believe that's Vonada's maxim #10 .....
Another consequence of political lobbying against Dodd-Frank, ironically by Frank himself (who was on the board of Signature bank)?

https://slate.com/news-and-politics/2018/05/barney-frank-was...
Emacs Lisp is probably the worst language for "programming in the large". (After Javascript.)

Sorry, but it has to be said. Using a more sane language would cut down on the bugs and dependency problems in Emacs in a huge way.

P.S. Been using Emacs for over 25 years.
Sure, but the thing they bought also had almost no yield, so that's what I'm not understanding. Why is shitty 1% 10 year T notes "yield chasing"? Those sound absurdly secure, and apparently have lots of mechanisms by which you can borrow against them should you need to in almost any non-runlike scenario.

If the SVB bankers were "yield chasing" surely there were more effective ways of doing so at approximately the same risk.
I’ve run across comments regarding useless use of cat twice today. However, after reading the linked Wikipedia entry, it feels more like a way to give someone an ego trip than a truly more useful alternative.

The Wikipedia article even concedes that cat might be better:

> A cat written with UUOC might still be preferred for readability reasons, as reading a piped stream left-to-right might be easier to conceptualize.[10] Also, one wrong use of the redirection symbol ">" instead of "<" (often adjacent on keyboards) may permanently delete the content of a file, in other words clobbering, and one way to avoid this is to use cat with pipes.

I‘ll happily continue to “abuse cat” going forward and sleep perfectly well.
+1. Writing scrapers and even API calls were the step for me that went from "I'm making my computer do something" to "I'm making my computer do something that's interacting with the outside world on terms that I programmed it to. Whoa! I can do a lot of different variations of this!"
There is a large gap in First Republics loan book and deposits. They have effectively subsumed all their equity on their balance sheet, if they are forced to mark their assets at market value. The same situation that happened to SVB is true right now at First Republic. However, the Fed and JPM believe that depositors won’t run on the bank if their is sufficient liquidity with these actions. So, no they weren’t in a good place, but they’re a little more stable now. Still somewhat risky however given there is a large effective gap in liabilities and assets.
This is how most of the FrontendMasters.com website is made. Go/Hugo templates and vanilla JavaScript. People are always shocked at how fast our website is. Write the code necessary for the job at hand.
My question was about how this works generally for insiders, not specifically to this article.
The problem here is a fundamental flaw in the design of bonds.. They're non fungible by design. Why not make their yields fixed to the current fed funds rate regardless of when they were issued? That would eliminate market dislocations like what was experienced by SVB where their 1% yeilding bonds lost tremendous value.
I have no idea who you are. but i dont care: if you take risks you should have skin in the game. what empathy do you expect if you don't have any ?
that sounds sweet haha
When Barney Frank Said It Was OK to Deregulate Banks, He Was Getting Paid By
you may be able to use pyenv to increase compatibility across Linux distributions
I love the modern, non-destructive archeology world.

As a child I was given C.W. Ceram's book "The Story of Archaeology" [1] as a gift (his name is pseudonymous because of his prior involvement in propaganda for the nazi regime) and it talks about how the early heiroglyphic and scroll readers would cut the "cigar" of papyrus open with a razor and re-assemble such words as they could from the wreakage.

This technique is much better. It's amenable to so many contexts.

[1] https://en.wikipedia.org/wiki/Gods,_Graves_and_Scholars
Silicon Valley Bank’s demise began with a downgrade threat
> because the Treasury needs banks to purchase government bonds

Does it? Or is this just how the system is currently designed?

50 years ago we might have asked who will provide the Fed with the gold it needs to issue enough currency to avoid deflation as the population grows exponentially.
The ambulance still shows up to declare someone dead.
When did we go from “being bitter” to needing to “preempt AGI”? I didn’t even say any the things you’re rambling about.

You’re spiraling. If things do need to be done, you’re not putting yourself in a good place to do contribute to that effort.
Yeah and C was designed for writing operating systems on mini computers and now we've got c++, what's your point?
> Yellen has just broadcast that FDIC insurance is essentially unlimited, as long as you can threaten wider disruption to the economy.

You are almost certainly misreading that signal. Probably since Friday they have assessed that the depositors can be covered once the assets can be liquidated, and that they may even be able to make money doing it.

If they can’t, they can assess the rest of the losses to the system, and those losses once divided up are likely to be inconsequential, even if not considered in relation to a broader run on the banking system.
I thought the proper word for things like this was "privilege"?
Wait and see, I bet it will happen.
The Fed will never release Fedcoin.
because of all the lying.

Self-contradiction and idol-worship of some and abject hatred toward others... shows that he observes nothing but his agenda.

plus, his agenda is his "act for money" legally speaking.

I also know Ana De Armas isn't able to speak for Marilyn Monroe. I would not trust her if she tried to.
Great idea for 95% of people, but just a reminder if you’re reading this and have a toddler: they are obsessed with dishwashers and will find a way to try and eat that soap.

Or maybe it’s just mine. Our dishwasher is shut and turned off at all times, I’m dreading the day our toddler has the finger strength to push the power button on.
IMHO, it's not happiness that increases but the general life stress that decreases with increasing income. Probably, most people conflate that with happiness?
Any airborne aircraft are easy to hear, due to line of sight.

The tower and anyone on the ground are usually the trickiest signals to receive unless you're close to the airport.
here's my pull request

$ cat << EOF > ~/.bash_profile

> alias lstd='ls ~/Dropbox/todo'

> EOF
When Talent Is Not Enough (Google and Reverse Imposter Syndrome)
Money can't buy happiness but it's really good at fixing problems.

If your unhappiness is caused by your car being broken down, money can buy that.

Not having money to fix your basic life problems with is probably one of the biggest sources of unhappiness in the world.
People are arguing whether SVB depositors should’ve been permitted to take a haircut. This not a discussion. Had depositors lost a SINGLE penny, there would be a very widespread run on bank deposits as people try to get below the $250k figure. There was never a question that the Treasury was going to ensure that uninsured depositors were made whole. To argue about whether the depositors should’ve been made whole or not is tantamount to arguing whether we should willfully inflict a depression worse than 1929 on American citizens. It’s unconscionable and profoundly stupid.
> AI is writing more code than ever and this takes the passion out of it.

When you write code, you learn. When you write code, you grow. Your brain is doing things when you solve problems. Programming is not just the destination -- the product -- it's the journey.

I'm sure I can write something to solve my crossword puzzle in less than a second. But you know what, a completed crossword puzzle is pointless. It's the solving, not the product.

When you ask AI to write code, well, you learned you can press a button and get a thing.

> And it's only a matter of a decade or two before nothing is written by humans

We have mass-production and yet people still do their own woodwork, sometimes as a hobby, sometimes professionally.
According to the diagrams, the author lives in a well trained household where dirty dishes created by others are placed directly into the dishwasher, if the dishwasher contains dirty dishes.
Sorry but The Comment is the atomic matter of the internet. Before your complicated "http web pages" existed, we were sending each other comments, on talkd, on email, on newsgroups, on irc, on BBS. Personal web pages are just your generation's version of a BBS user news file.
This is off topic, but I noticed most of the other comments here seem to be about managing dishwashers, so what the hell...

I always thought it would be cool to have a dishwasher that doubled as cabinets.* It could have a slot for dirty dishes and clean dishes could be summoned at any time using a touchscreen. The machine would clean the dishes when necessary and without requiring further intervention (beyond keeping the soap hopper full).

If you want to steal this idea for your startup be my guest. You can even sell subscriptions to seasonally-appropriate compatible dishware.

* Edit: I see this exact idea is already posted as a comment downthread, so apologies for retreading.
> free personal advisor

They take 1% of the money they manage. And then they invest it in their own funds, taking more fees there. They are not free.
I think their assets aren't illiquid, the problem is they pay out a low rate of interest. As in if I can buy a $1M bond that pays 5% interest. How much you think a $1M bond that pays 1.5% is worth. Much Less.

In 2020 and 2021 about 2.7 trillion worth of mortgages were refinanced. That gives you an idea of the scale of the problem with the Fed blithely raising rates.
SVB could have bought 3-year, 1-year, 6-month Treasury bills with that money -- which during 2020 and 2021 were yielding <0.25%.

This would have been "safer", but lost them money.

Instead, they bought 10-, 20-, and 30-year T-Bills which were yielding more like 2-3%. Not much by today's interest-rate standards, but significantly more than 0.25%.

That appetite for long-dated bills could, I think, be described as "yield chasing." It was a decision made for short-term financial gain in ignorance of the risks involved.
It's not just the profit incentive.

Imagine a world without lending against liabilities: yes, some people will be able to buy a home, pay for college, buy a car without a loan, but the financial friction will keep a vast majority of people in poverty.

And then it's going to be someone's full-time job to manage those liabilities. Should they do it for free?
The interviewer could have honestly made a mistake thinking the candidate cheated when the candidate did not. Or the candidate thought something was allowed but the interviewer did not communicate that it was not.

At any rate, there's a chance the accusation was wrong, and if you make wrong accusations and the other person disputes it, it could lead to unnecessary legal proceedings. (libel, etc.)

PS: not saying the company policy by the GP is necessarily correct, just saying what lawyers and risk adverse bureaucrats might be thinking when they drafted it.
https://news.ycombinator.com/item?id=35131249

I remember an article that some ambulance drivers are doing it as volunteering (they are trained). There could be a rideshare/gig-economy take on deploying more ambulances+drivers subsidized by hospitals/government: and drivers can be called in on-demand during surge - local community folks would be driving anyway.

I understand EMT are very well trained. You would want those techs to be as trained as possible. So that could be the limiting factor.
Thank you for saying this. It's the perfect encapsulation of how I feel.

For most of my career (I'm 48 now), I have loved my work. But the last 10 years have been really revealing in a bad way. I don't want to build information weapons, and that's how I'm starting to feel all the time.
Dodd-Frank has nothing to do with why these banks have failed.
Heh, you just made me upgrade as well. After originally paying 130 € for 32 GB, it’s nice that I only had to pay 70 € to double it ;) Not sure if I want to run LLMs (or if my Ryzen 5 3600 is even powerful enough), but I’ve wanted some more RAM for a while.
I use a trick to improve this. I too have a 7 year Shell history with Fzf and love using it as my second brain.

I put #tags at the end of long, opaque, reusable commands so that I can FZF search it quicker.
What does "institutions that serve the public" mean? It sounds like you're trying to say 'government-run' (like as in 'public sector'), but SVB was a private company.

If we're including private companies, how far does that go? Should I be allowed to look at the financials of local restaurants?
This is how I did my laundry for many years (washing machine and dryer are already separate), but I had to give it up when I started a family.
3.6% was the Ally savings rate. I didn't check their CD rates.
Oh the fed said inflation was transitory, risk team can take the day off I guess, no need to worry. 3. is true because literaly half their were deposits startups who will have a hard time raising if interest rates rise.
Your comment is sarcastic, right?

> I mean really, so much anxiety over the Amish, who have they ever harmed?

By the looks of it, women
This is tied to why the internationally accepted standards view some kinds of assets as riskier than others, and some kinds of deposits as also riskier than others. In particular corporate deposits are considered riskier because they are more likely to disappear in a run on the bank.

Those standards only apply to our largest banks. But had they been applied, this disaster would not have happened.

See https://www.ft.com/content/c95e7708-b903-405d-a017-963844eb3... for more.
> it's threatening the quality of life of a certain class of people.

Like the jerks who chose to work for a company that picked a specific SaaS payroll provider. Or those entitled Etsy sellers that expected to get paid. The absolute nerve.
Awful lot of meme economics in this thread.
they said 2g per 1 billion....and it's called 68B...I presume that's 68 billion... 68*2...so at least 136g?
> Do you expect every startup to run their own little hedge fund to manage their cash?

Don’t startups already follow the standard model of whatever the VCs say is the right way to do it? As in—there’s a tremendous amount of cargo culting, no? Or perhaps that the banks specifically require an exclusive deal. In either case, not an unsolvable problem.
Pour one out for Google Voice App for Blackberry. #neverforget
You might be interested in hash in zsh.

https://til.hashrocket.com/posts/xsavbhlrz4-shortcuts-with-h...
https://www.cnbc.com/2023/03/10/fintech-brex-got-billions-of...

> Fintech startup Brex received billions of dollars in deposits from Silicon Valley Bank customers on Thursday, CNBC has learned.

>The company, itself a high-flying startup, has benefited after venture capital firms advised their portfolio companies to withdraw funds from Silicon Valley Bank this week.
> Any other action would create systemic contagion that could spread far and wide.

They could increase the FDIC coverage limit to a level that would avert a run, shoring up public confidence in other U.S. banks.

The BTFP if I'm reading this correctly values assets at par instead of face which is wild. It's not just providing liquidity to banks but rather giving them free money.
and unlike Saudi which is a Sunni monarchy with classes while Nigeria is a very large heterogeneous country with many groups