skysight-inc/HackerNews huggingface dataset:
I think the parent is saying that the new CRO is bad not because they caused the dumpster fire - the new CRO is bad because after interviewing in January, they saw the dumpster fire and either thought it didn't matter, or that they could fix it. Not a case of "incompetent because they couldn't fix the problem", instead a case of "must be incompetent because they saw the books but took the job anyway".
> In most daily lives, a huge amount of what we do is habit, and just plain following a pattern. When someone says "Good Morning", nobody is stopping and thinking "HMMM, let me think about what word to say in response, what do I want to convey here, hmmmm, let me think".

And I believe we have the technology and advances we have because of this. Can you imagine if you had to devote actual brainpower to every inane thing you encountered in your day? You'd be completely exhausted within two hours of waking up. Every time my brain reflexively reacts to something based on past experience I'm thankful I didn't have to think about it. I can spend my finite energy on something interesting and novel.
> So the VC thinkbois basically created a run on SVB. Nice job guys!

You say it like that absolves SVB.
> consolidated market share,

True, BOC, JPM, Wells Fargo etc.

> and gotten more and more regulations rolled back

False, besides scaling back Dodd Frank please name 2 regulations removed from consumer investment banking or credit or mortgages.

Investment banking isn't what it was in the recent wild west days. Goldman Sachs fell from grace and stuff isn't fast and loose. Its not even cool anymore, investments are risk profile managed algorithmic ETFs. Its a well regulated industry, albeit better regulated in 2010 than now, but better than 2005. I'm sure there all kinds of shady things in IPOs and SPACs and private equity debt but that does not represent the greater consumer exposure public market.

Also, letting all large banks fold in 2008 would have been bonkers. There would not be a viable replacement in time to stop an all out dark ages. Those banks paid back loans plus interest in full. It was a systemic failure and Ben Bernanke stopped a depression and the system was improved instead of failing. Was is fair that wallstreet gets money from the Fed to stay afloat while people lost their homes? Not whatsoever, completely unfair. More could have been done to help out common people like we had in covid relief. But it was still the correct thing to do to keep the lights on. And the recovery period with QE was the longest stretch of growth thanks to the sugar rush of 0-interest debt that will play out to not be the best idea.

Anyway, I wasn't taking a shot at SVB leadership inferring they are naive startups. I'm saying that much of the SP500 are revenue generating profitable companies that do use debt but don't need recurring 20M funding rounds to make payroll. Startups are by and large not a good representation of the greater economy because they are supposed to represent new ideas. The banks customers are totally a risk and cash intensive with no physical capital. That is not representative of the economy.

That's all I'm trying to get at. The parent comment to mine is pretty doom & gloom and making ill founded parallels to 2008 and saying this will be even worse. I don't see how that follows. It does not make sense. We're entering a recession but that doesn't mean complete implosion.

There are a billion things I don't understand about the greater economy and globalization but I want to call out poorly formulated assertions because the narrative above is based in facts. Especially on this site where people give credence to web3 nonsense and trying to pose solutions financial problems that don't exist.

Its a not good situation and concerning. But I think there needs to be compartmentalization to understand what else is at stake.
Font shadow? All the article text looks normal. Only the headings have a pink shadow.

I’m on iOS for what it’s worth.
That might be true, but it's got me thinking. Suppose you owe $100M and had $80M of cash. That would be considered both involvent and illiquid, correct? Now suppose you go out and buy $80M worth of 10 year treasuries with the cash you have. At current rates you will have $115M in 10 years, plenty of money to pay of your liabilities of $100M. Does that mean that if you're "insolvent" you can magically make yourself "solvent" by buying a bunch of bonds?
You might want to create the debate yourself.

Someone just released this tool last week: https://news.ycombinator.com/item?id=35016444
Here’s how it sounds when you turn NASA spacecraft data into music
The process of data sonification can help scientists better identify patterns in complex data and create beautiful music for the public.
The FDIC will probably sell the carcass to another bank in the next few days.
In Colorado some liquor stores scan the barcode on your ID, so showing ID to buy liquor isn't a 2 second perfunctory check, but instead another time and place piece of info to add to the dossier about you
TL;DR (maybe inaccurate because I couldn't be bothered to read carefully): he fell in love with the car, lots of blah blah about "should I buy it or not", he decided to buy it but with a back-out clause if the battery health test (which he asked the dealer to do) says it's below 80%, dealer said the battery s not that good anymore, he found some CA EV guarantee law, asked the dealer about it, and he'll be getting a new (refreshed) battery but it might take a few months and he'll wait to take the delivery of the car until then.
The bankruptcy code provides guidance for a 90 day look back period from the date of insolvency where transactions can be clawed back or must be repaid. The FDIC will talk to the recipient bank and get a court order to deposit the funds in to a trustee account so that all available assets can be distributed evenly and fairly.
That’s a bit of a grim take. There’s been multiple instances of otherwise well regulated banks being blind sided by deliberate concealed fraud by its employees.

https://en.m.wikipedia.org/wiki/Barings_Bank
> On paper, they have enough in assets

Maybe with 'mark to maturity' accounting which banks can use in some circumstances. But T-bonds aren't cash in hand. There is a loss to be realized when selling before maturity. This leads to using 'mark to market' accounting which helps to ensure more prudent reserves.
Yeah, there's a real bit of sleight of hand stage magic and so to a glass and a half of milk is called gerrymandering [1] going on toward the close.

By resisting electoral change, these parties are engaged in the political manipulation of electoral district boundaries with the intent to create undue advantage. This is called gerrymandering.

ie. What was once moving boundaries to create an advantage (classic gerrymandering) has become resisting our great new ideas (no boundaries and|or multiple members per division).

We'll call this "gerrymandering" now 'cause it's a well known term that everybody knows is wrong.

[1] https://www.youtube.com/watch?v=PwBceIbh5qc
I might be wrong here. I think I'm confusing it with their ability to claw back executive pay. Under bankruptcy the court can absolutely claw back withdrawals, but an FDIC takeover isn't exactly a bankruptcy.
Yeah but you have a lot of companies who money is stuck with SVB. Not one of them decided to check out a financial statement for the company holding their money.

I checked out their financial statements and they are pretty incredible.

They grew their HTM portfolio from ~10b to ~100b in two years. Then you had the Fed come out and say hey we are increasing rates and we aren't going to stop.

No one at these companies well like hey maybe this will become a problem and we should protect our cash.

Roku had 25% cash at this bank. Why?
If all banks worked like this, how would people get mortgages? Can’t loan out the money with interest.
I’m not saying they are insolvent. Their bet led them to having to raise money, and that gave enough signal for their depositors to pull money. Don’t blame VCs, their reactions were rational in this situation.
> ignore the fact window management is garbage.

All I can say is that I'm flabbergasted by this statement. Expose was lightyears ahead of Windows window management at the time (10.4!), and it took Microsoft until Windows 10 to include it in Windows (same for virtual desktop functionality).

> no true virtual desktop management

Not sure what you consider "true" virtual desktops; OS X 10.5 had classic workspaces with Spaces; Mission control later localized workspaces to monitors. Both approaches have their pros and cons.

What exactly is it that has Windows 10 years ahead of MacOS in window management?

> before basic window snapping

I can snap two windows side by side in a fullscreen split (the most common use case for snapping). I would certainly call that "basic window snapping".

> Does nobody at Apple have an ultrawide monitor? macOS is painful to work with on anything not 16:9 (or :10).

I don't know. They don't sell any, right? Apple designs their user experience for their own hardware. It's just table stakes with them.

tl;dr -- these are your opinions. They differ from those of others. That's how Apple can ignore the fact that their window management is "garbage" --- they likely don't see it that way.
Completely different situation

SVB is a relatively meaningless bank that can go under with very few knock on effects to the banking system.

Lehman was atop 4 or 5 player in the financial space when it went under and. A major pillar that propped up the system.

The two are so completely different in their importance.

Asset size does very little to show this though so I understand why at a first order look one might get the idea that they are comparable.
It's frustrating that we don't even have one day settlement for most transactions.
It's Rippling's account at SVB. They literally can't steer clear of the transfers.
Which legal system has a claw back period on withdrawals? Can you imagine rolling back wire payments 90 days old!
People say that this SVB fail is isolated and idiosyncratic but I see a lot of stress in the system.

If there's no solution to this debacle by Monday this is going to keep cascading with no predictable trajectory of where it ends.
Likely some of the hardliners in Beijing think that way, though it seems too short sighted to be believed by the majority.
Wait should I buy SVB?
This is the burning of the public space.

Alas the zombie entity will persist, people will stay here, but this is absolutely the death of this as a public social space, and the start of a dark new pay-to-play world for Twitter where only the very-few have real capabilities.

This is the death of the spirit of the project. May it hopefully wreck & burn fast.

The pretense of Twitter's usefulness will take too long to flail fade & fail, and it's not so instantly notable to consumers, but this is the most epic & rapid grade #enshittification a once valuable & once core internet service that the planet has ever witnessed. This is a complete fall from grace & capability. Nothing remains, nothing of value is left to the world.

Tim O'Reilly famously said, "create more value than you capture." Twitter is no longer a place that creates value. It is now a Scrooge McDuck potemkin village, profiteering off an image that it no longer deserves. Burn, fucker, burn, burn the fuck down, you vile traitorous, disrespectful pieces of shit that have ruined everything about the idea. Perish. New Twitter stands against humanity.
nothing wrong with good content.

yt-download or piped.kavin.rocks has got you.

the problem with socials is suggested content being so compelling.
What are the chances this causes a run on USDC and a total cascading collapse of multiple crypto assets & platforms?
Best guess: YouTube, TikTok, Twitter, Instagram.
If you map 'pull all your money' as defect and 'leave your deposits in the bank' as cooperate, you can make a case for it being a prisoner's dilemma, though I don't claim to know if everything would be okay if people didn't pull out.

The Nash is to defect in the prisoner's dilemma. That's not the whole story, mind you, because there's a case for tit-for-tat and similar strategies in repeated games, but this looks like a one-shot game from what I know, so... yeah.
Wow, converting USDC to USD (fiat) on Coinbase is paused for the weekend, "while banks are closed"

USDC is currently trading at .996 on CoinMarketCap (although some exchanges are reporting .98, .97, or even .95 -- although that's mostly smaller exchanges for now)

Either way, people are taking a discount to get out of it and switching to USDT (now at a $72b market cap) or Bitcoin (hence the price rise)

And Binance paused auto-conversion of USDC to BUSD
The liabilities are the same currency and the same amount in 2023 and 2033. They’re solvent.

The asterisk is that the liabilities are generating interest, but this is fine because (one very safely assumes) that’s covered by the interest on the long-duration assets SVB bought.
> - If there was a bank run, First Republic probably would not be able to meet all depositors.

That's true for all banks, even JP Morgan Chase. Every single one of them has some withdrawal limit, past which they are screwed. And that limit is definitely lower than 100% of deposits.
The one that bugs me is when ISO8601 format dates (yyyy-mm-dd) somehow mysteriously turn into floating point numbers.

At least half of Excel usage happens because Word is so pitifully inadequate at formatting text in tables.
Yes, that's my reading as well. Which sounds rather different to me than 'Their balance sheet is strong and they are fully solvent.'

Their balance sheet is weak, but they kept going because some accounting tricks allowed them to defer mark-to-market on their losses.
> Back of the napkin, take the 10yr and 30 yr spot prices today for issues from 1-2 years ago, and that's your max haircut. I believe some are trading at 70 cents , so we are talking about 30%. And that's worst case (not all assets would have sold at that price, but better).

Depends upon how much was liquidated and already went to paying out fleeing customers at 100% of deposits. The average haircut could be 30%, but late to move depositors could have it worse (this is why you participate in a run on the bank).
This comment is exactly why we need Charter Rights the government can't easily suspend. The utter lack of understanding of why these protections are needed is astounding. I wonder what they are teaching the kids in school.

The government (and voters) won't hesitate to call the opposition "terrorists" and claim donating $5 to a cause is "supporting terrorism" and freeze your bank account so you can't pay rent or buy food.

It's really scary. This time it's the other side, next time it's you.
Strangely I’ve heard about a lot of deposits to first republic in the last 24 hours. It’s unclear your assumption is correct.
I'm fascinated by this meme that appears again and again recently.

"This is moving the goal posts"

<insert argument that implies there should be no goal posts>

<insert some uncritical and speculative extrapolation of current AI abilities arbitrarily far into the future>

Honestly, now whenever I see the word "goal post" my eyes glaze over because I already know exactly what's coming next.
Roku says it could lose 25 percent of its cash after Silicon Valley Bank fails
Got nothing to do with Quebec in particular. Every Canadian province and feds can invoke Not Withstanding Clause which is basically fuck you and your rights.
FlashFXP was insane! It's funny to think now a 1.2ish meg disk in 2 seconds between two servers seemed nuts and now I have almost 100Mbps to my house.
RE: scheduling actually is better for established doctors. A doctor will move much faster and squeeze in more patients in Yr 3 vs Yr 2, same difference btw Yr 2 and Yr 1.

In my experience, doctors will plateau somewhere around year 3 unless they are actively iterating around software/personnel for smaller improvements.

In addition, the new doctor does not have an established footprint in the community, online (social media, ads) or a trail of good reviews> In short,no book of patients.

The established practice will help filling the schedule of a new doctor, but ultimately it comes to skill with referrals + word of mouth + time.
> you can transfer your treasuries to a broker and then sell them.

Only to find out that because of the raised rates nobody wants to pay for them enough to cover your emergency.
They are very unlikely to do that to normal individual account holders. It would undermine the purpose of providing the deposit insurance in the first place.
Trading in their shares is halted.

However, in principle, if you believe in the efficient market hypothesis, and if SVB shares would still be traded, they would be traded at a (low enough) price that makes buying their shares reasonably thing to do.
Deposits are insured. Payments will resume Monday. But headline is accurate. Payments delayed.
FDIC should just offer unlimited insurance for depositors. Bank runs are relatively rare events during normal times, so the current fee structure can support handling those instances. During a systemic crisis, the taxpayers have to backstop the depositors anyways. Feels like a no-brainer to me.
> I've always thought it odd that a CPU manufacturer would specify an ABI

Why?

It we all agree to use R13 as SP, the core designers can spend a few [hundred] extra transistors optimizing accesses to [R13 + offset]. Perhaps adding such logic for ALL registers is too costly?

If we all agree that R14 is the return address, the prefetcher might want to prefetch instructions there, so return is faster. The core probably cannot afford the transistors to do that for ALL regs

ARM (and most other chips) will work if you do not follow those conventions, but they might not perform as well.

Eg: aarch64 instruction "ret" takes a register param and you can use any reg you wish, but at least on some microarchitectures implementing the aarch64 ISA, it will be faster if the param is the X30 register, since that is the agreed-upon return address reg, and some silicon was spent optimizing this case
The Times says stock prices of other banks fell as concern spread that they could also be facing similar problems. First Republic Bank in California fell 16.5 percent, Signature Bank in New York more than 12 percent and Zions Bancorporation 11.4 percent.
Right. The only actual raw data is transactions. Account balances are just filtered rollups. Double entry bookkeeping is just how you manually accumulate a set of account balances from transaction data, and a set of conventions for consistently labeling and grouping the transaction sources and destinations.
Illnois bill would give 'child influencers' a share of parents' vlogging revenue
Or that any business will not be careful given the opportunity.
Seems really rare for comments to be actually deleted on here, this site manages to rarely attract actual trolls, fortunately.
I am not a lawyer but from my shallow read-through I understood that bankers bought risky bonds trying to increase their returns on new deposits.

They tried to maximize profits of the bank at the expense of their customers, prioritizing bank’s profit over customers’ interests.

We can argue all day about intentionality but the damage is clear and the source of the damage as well (SVB managers).

It’s not a fluke or hiccup or a typo, it’s someone’s decisions that had devastating consequences.

If a factory manager made some decisions that endangered livelyhoods of thousands of customers they’d be in jail I suppose? Or a construction company bought materials that cost less but are at risk of deteriorating ?
I always see Dreyfus stans claim that embodiment is needed for AGI. My big mainframe based god model will refute them by existing.
Perhaps a stupid question, as most of my knowledge of elevator operation comes from thriller movies, and they will commit any engineering sin as long as it drive the plot forward. but, how would one self escape an elevator? I mean, you wait a few hours, no indication that any one knows you are trapped between floors, can you go through the roof, and manually open the floor above doors?
I assumed that they were shown the video of 'the finger' and arm waving and thought the accusation had enough meat on it.
I’m thinking our diversified stock portfolio is safe (in that the number of shares we hold should not change, and it’ll go back up before we need the money decades from now).

I’m hoping that’s not naive.

I’m curious about Wealthfront’s strategy of spreading savings across many partner banks to get $2M in FDIC insurance per account though.
The private banking system can only multiply off of the monetary base up to a certain multiplier, it cannot expand that base. Only the government treasury can expand that monetary base.

If the private banks have conjured up 100x the monetary base in 1970, then when the population doubles by 2020, the banks cannot multiply further up to 200x. The treasury has to expand the base while the banks keep their multiplier fairly constant.
The really troublesome securities of the Global Financial Crisis were complex derivatives of private-label, almost universally sub-prime, asset-backed-securities:

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

The standardized, so-called "agency" MBS on the SVB books really isn't anything like that CDO plague. In 2008, people were losing faith in the ability to even assign valuations to CDOs; SVB's problem with their MBS portfolio is that the current market valuation is obviously not what they needed it to be just now.
Tomato tomato. If you were expecting your paycheck today it’s not coming till Monday at the earliest.
That’s a delay.
Wikis with the Best Search Functionality?
We all know / have experienced how bad Confluence is it at finding what you are looking for. We're working on a migration project to move to a new wiki and wondering if anyone has positive search experiences with the wiki they use?

Note: We're looking for a self-hosted, open source option for a mid sized organization. So a multi-site wiki would be ideal.

First time posting but this forum has been invaluable in guiding my thinking about this project. Thank you so much!
2005 is well over a decade ago and that's very much on the conservative end of when I remember the selection of search terms as being very important and a sort of art form.
Institutions deemed relatively safer (e.g. JPM Chase) are the banks that people withdraw to. Nobody is taking out $20M in cash, they're moving it to the "too big to fail" banks.
Where this approach really shines is in v1 of a complex project. If you have multiple teams combining to deploy edge compute pushing data to a cloud service and talking to multiple client experiences, then a steel thread approach can help maintain sanity while requirements and contracts are evolving.
Issuing a loan is buying an asset. You give the borrower money and in exchange buy their promise to pay it back with interest. And in fact that’s what SVB did, except instead of originating the loans themselves they bought them from the original lender.
Both AMD and Intel have APUs. However they’re limited by being minority products (so very low support from software) and often have limits on how much ram can be accessed by the GPU and/or have very weak GPUs.
You think most people don’t know who American Express (17th) are?

Citizens Financial Group (16th) is also quite large but I would be shocked if someone didn’t know of Amex rather than did.
Direct quote: “I got a call from somebody in Washington who would know, just trust me”.
Lots of people just aren’t in a position to be turning down jobs. If you want to judge people by the jobs they take, set up enough of a social safety net that reasonable people can’t get screwed by a short run of bad luck.
lol, so better time than ever to get in on the ground floor of my goldcoin ipo

the only gold-backed crypto coin

don't buy gold, we mint tokens and but the gold for you. somewhere.

1-1 goldcoins, avoid all out financial ruin

buy gold but as a hash

defi gold
Bond Basics