skysight-inc/HackerNews huggingface dataset:
> more deposits and cash than they could handle

Do you know why couldn't they handle it? Banks usually have to manage their Credit, Interest Rate, Liquidity, Price, Foreign Exchange, Transaction, Compliance, Strategic and Reputation risk. And then from an investment POV, all investors have to handle portfolio risk. So I wonder whether SVB just wasn't sophisticated enough to handle these risks.

If they're the 16th largest bank in the US, it seems to me that they should have had the chops to "handle" large amounts of cash...
That's wrong. The loan amount was never anything but a number that someone at the bank punched into a database. It doesn't have anything directly to do with someone else withdrawing their own money.

If the bank is giving cash to the withdrawer, that would come out of their capital reserve I guess. If they didn't have that, they FDIC insurance would kick in.
Online IQ scores in US dropped for the first time in a century
Their problem was that they tied up too much of their money in illiquid low-yield bonds. Pure mismanagement.
Hi, author here. I have been working on this project for close-friends and colleagues. As we find it useful, we are releasing this tool to public.
Please let me know your feedback! Have a great weekend!
Yes, far too expensive. I got grandfathered into an older plan, or I’d no longer be a subscriber
bought bonds with 1y maturity and not 10y
Past behaviour is a good guide to future behaviour. But you knew that already, so the only reason to ask your pointless question is because you don't want to make the effort to look.
The problem was specifically that they were not diverse, though?

And, absence a run, they were somewhat safe. They effectively concentrated all of their risk in this category. And then got hit there
> Inciting a bank run is illegal

Under what law?
IIRC you can (or at least could 10+ years ago) start it without the GUI with "matlab -nojvm".
Lowering face value is not an option if they intend on being a going concern. Their core business is maintaining something that's worth a dollar and they can't do that, then the market will move on to other things. It'll be permanently an unwinding operation.

Their best play right now would be to find some big pocketed investors with on chain assets. Have them buy USDC on-chain for $.90 on the dollar, write off the $1 redemption value with a $.10 bonus, and defer redemption on those tokens until they figure out the liquidity situation. It'd be a crazy bet and requires on-chain assets to kick start it, but the investors would be making a decent return in exchange for delaying their redemptions.
Permanent daylight saving time? Where efforts to ‘lock the clocks’ stand
So gradually it's all opening up. The scams at those levels are most impacting one to people. I only see more fallouts in future.
Yeah. That’s pretty unrealistic pricing these days. Maybe if you’re in Italy charging €1 for an espresso. In North America you gotta charge more. People pay $7-8 for a cup of sugar milk (with a shot of burnt espresso) from Starbucks. As a small café owner you should be comfortable charging $5-6 for a decent coffee.
Yeah, they cleaned up x86-64, but x86-32 had three calling conventions on windows alone.
These scenarios were much talked about a decade back in relation to advertising on photographs on Facebook, specially with Coca Cola and other popular brands.
Sorry, you're right. DAI number was wrong. Seems to have been 0.88 USD. Wouldn't say "far from" but nonetheless, I was wrong.
Ha! I’m curious to know where you got your vocabulary of exercises without ExRx.net (of course the site also merely curates from other sources such as the books that came before and along it). I don’t remember the exact search keywords, but I’m pretty sure I found it while building my own program and looking for exercises for specific muscle groups.
Most people do so by working at one someone else started.
IMO the best answer is Alexandrescu: "A systems programming languages must be able to allow you to write your own memory allocator in it."

Without any philosophy, clear and concise.
Before triggering a bank run, make sure to save yourself first and by the time you've done that, announce to your portfolio companies to move their funds when you already know they are too late to save themselves.

It's almost as if this was an exit scam and someone knew that the bank with the VC pyramid scheme was going to collapse, very quickly.
Good for situations where you aren’t expecting or care about realism in this detail. AI hallucinations will be amazing for entertainment, especially games.
I thought that as well. But then I noticed the same author has an existing project with a ggml.c ( https://github.com/ggerganov/whisper.cpp/blob/master/ggml.c 8000+ lines), so maybe he "just" wrote 2000 lines in an evening.

Sounds much more "humanly possible", but still amazing.
part of the book is an exhortation for introspection, to ask yourself what you really want out of a business (lifestyle, cash flow, money, etc.), and to realize that starting a business involves working ON your business, not IN it. There's a chapter too on the different personality types (entrepreneur, manager, technician) and how they relate to starting a business. All these together informs the reader on if they should start a business or not. It's a great book and really helped me--as a technician/tinkerer type--understand what sacrifices I'd have to make to start a business.
> This isn’t a “bad guy” story, as far as I can tell.

I agree. There are no bad guys here. There's just a bank that took and chance and it bit them.
Again, likely ~60% of the money is coming Monday with more trickling over the next few weeks.
Can mk improve UX for build/test tools?
I am wondering if “mk” has the chance to hide the complexity of each project test tools and provide a simple and uniform interface for a random project contributor. I kinda like the idea of reducing the need to write very long Contributing.md documents.
> Those teachers may be married and/or have daughters.

Homosexual male teachers may also be married and/or have sons. Your entire line of reasoning is invalidated by your refusal to consider homosexual males in the same light as heterosexual males.
Maybe add (2011)?
Because Zac Prince was the leader?
You’ll see the same thing here on HN.

I remember a discussion quite a while back about how SE Asia lacks a vibrant startup culture and people were going back and forth about how companies should just bring in Silicon Valley tech workers to get the industry going. Upon mention that Cambodian and Vietnamese simply can’t pay the wages SV techies would want, commenters seemed confused as to why—these struggling countries should just do it and quit making excuses. It’s simply obvious that a country where people are getting maybe $2000 a year should have companies with enough free cash to bring in thousands of Americans who want at least 300k but would settle for 250k if they can get a luxury condo thrown in. Bizarre to witness these statements sometimes—frustrating when it’s crowds.

It’s good when people do, at the very least, a passing glance at the data and consider troubles that could occur.

That said, mom and pops run by just mom and pops do exist. If you’ve got savings and just want to socialize and mitigate some of the costs with a little side income, running a tiny cafe next to your home on weekends is something that isn’t unreasonable if you’re very comfortably settled.
Gene drives, mathematical induction, and cognition hazards for bank failures. I hope at least one of those is a reasonable analogy.
> Let's hope SVB is not the start of a large wave of failures.

What is the main consequence of this? Maybe we don't bail out the bankers this time? Like it's just over a decade, maybe they should be allowed to fail.
1/50 chance of maximum popcorn? I'll take it.
>=30%, which is the proportion of Y-combinator companies who cannot make payroll thanks to SVB's failure.

Source: https://twitter.com/garrytan/status/1634286688922132481
Or simply laddered their maturities to blend a lower average duration.
That's a good policy.

Additionally, salaries are usually paid in arrears, which means you already did the work when payday comes so if it does not and you keep on working you're actually going deeper into the red.
"I'm a crummy photographer and all I want is something to remind me that I was there"

This is fine, and I can take good shots but at the same time? I only care about this level of shot most of the time too!

But then instead of a 20MP image, which:

* takes more space, and ergo, more flash drive space

* more space to store, to backup, to send

* is made 20MP by inserting fake data

Why not have a 2MP image, which is real, and let people's end-use device "fix" it? Because all that post processing can be done when 2x or 4x the view size, too!

Because advertising.

And that's sad. We'd rather think we have a better pic, and destroy the original.

And the space thing is real. Because, that same pic gets stored in gmail with 20 people, backed up, kept in all the devices, and so on!

And the LOL of it all, is that I bet when it is uploaded to facebook... it gets downsized!

edit: in fact, my email app allows me to resize on email, so I downsize that too! Oh, those poor electrons.
The difference (as I see it) is that Matlab/Octave are more easier to use for a person that doesn't know a programming language, such as a math student. While to a programmer Matlab language doesn't make sense (array starting from 1, syntax, a multitude of functions in the global namespace, etc) to a mathematician it does since it more resembles the language of a graphical calculator (that was what Matlab started with).

It's true that Python with the use of Jupyter notebooks is getting closer to be a simple to use tool, but you still need to know some programming to use it.
You can turn it all off in settings, if you’d like. You can also flip a switch and get RAWs.
Surely the crime would only be not paying your staff. No crime was committed before that occurs.
Circle Fake Twitter Account Is Scamming Users to Recover 10%
But that is not what happened here AFAIK. They got burned by being too conservative and investing in government backed securities.

I think from their perspective, they thought they understood tech better than other banks, so thought that they could better analyze the risk (thereby not misclassifying many companies as risky) and use that as a competitive advantage. Right now, it does not look like that part of their business model failed at all.
Diabetes drug,not ivermectin proves beneficial in preventing long Covid in trial
Picking up suitcases full of cash in front of a toothbrush is more what the poster was going for I imagine..
Isn't it even their duty to buy it?

I don't know how USDC is set up. But I thought stablecoins work like this: The creator sells their coins at $1.01, so it will never go beyond $1.01 as it would be cheaper to by from the creator. They buy their coin at $0.99. So it will never go below $0.99 as it would be better to sell to the creator.
It's only `insider trading` if you're NOT in congress =P
It's not even about getting a loan.

It is about having a company checking account for payroll and somewhere your investors can put money.
No that was what the mainstream media lied to you about what happened in the rittenhouse case. One of several instances where one could see fake news and straight up lies be spread in real time.

What actually happened was that a police officer testified that using pinch to zoom on his iPhone he saw kyle point his rifle at the first person assaulting him. Mind you we were talking about a cluster of around 5px. The state wanted to use an iPad to show the jury using pinch to zoom that same "evidence" because using proper zooming without an unknown interpolator algorithm the defense using an expert witness showed that this was not the case. No one in that courtroom understood the difference between linear and bicubic interpolation.

The defense did not understand it either so they tried to explain to the judge that the iPad Might use AI to interpolate pixels that aren't there and that the jury should only use the properly scaled video the court provided not an ad hoc pinch to zoom version in an iPad with unknown interpolation.

Thankfully the judge told the state to fuck off with their iPad but the mainstream media used the bad explanation of the defense against kyle when the reality was that the state basically tried to fake evidence live on stream using an iPad to zoom in.

BTW I'm German so I don't have a horse in the political race but I watched the Trial on live stream and saw the fake news come out while watching
You have described my Starbucks experience perfectly. I actively seek out the mom-n-pop shops just because I believe (perhaps erroneously) that they get in the game because they're artisans (like this post mentions) and their coffee is going to be head and shoulders above Starbucks. I'd rather tip a barista 10 additional dollars for making me a pour-over or French Press.
Samsung is such a tasteless company.

This is a cool and useful tech, but it obviously needs a good marketing story to avoid looking creepy. To think that no one will notice just makes it worse.
Great point. What could another reason be for not doing so?
If you're interested in the physiology of respiration at the limits this lecture by John West is fantastic https://www.youtube.com/watch?v=QRN124iuqZ8 . It has been some time since I watched it in med school but if I recall correctly, I think it is pretty accessible to anyone who is technically/scientifically minded.
I can believe this, the status of the various libraries/toolboxes is not all made equal so YMMV depending on the field.

We had a few cases where this was the case involving the signal processing toolbox for example and couldn't reproduce the same results. In such cases we just refused to participate in the consortium.

In my old field we were mostly using R. If there's no active use of matlab, it doesn't make any sense to license it for a single collaboration. By the time you need it again, the license would be expired. And this completely ignores the "how do you want to run it", which for us involved a linux-only cluster. It's literally trashing money and time.

Commercially-licensed software is a true pain for research and collaboration, it doesn't matter if it's any good or not.
My point was also this, that the theo-philosophical idea shaped the artistic choice.
1.000 is the implied rate. Uniswap does it for you.
There will be a lineup of people from all areas of the economy and academia that will argue persuasively that if the banks fail the economy will collapse.
This appears both incomprehensible and wrong, but let me check if I understood.

Systems:

- Lacks a GUI.

- There are technical details.

- Doesn't compete with applications.

- Memory pressure is an issue.

Applications:

- Has a GUI.

- Need to be responsive.

- Power usage is important.

- Memory pressure results in slowness.

I don't think we got any closer to a useful answer.
And for a better experience on most websites!
It's fun how many events I'm living through that are on "worst X in history" lists.
What is the alternative?

They should do, or they should be automated so you don't need as many employees.
Yes, that’s the problem.

But McDonalds sells coffee for $1, and many of those customers who are deeply invested in living wages and local businesses are also not fools who can be charged 4x for the same thing they can get faster at McD’s.

So yeah, pricing is the problem, but IMO mostly on the “willingness to pay” side. These businesses are squeezed between the real costs of inefficient small biz (where are you going to store 50 pallets of coffee needed to get great pricing, and it’ll go bad anyway) and consumers’ unwillingness to pay for the things they say they want.

Same thing as airlines, really. Everyone hates cramped seats and coin-op toilets, but enough people will always buy the cheapest ticket that it’s not economically viable to provide a good quality product at a price that will sell.
The thing that caused this was the news that they have at least $3.3B in reserves. SVB uninsured deposits aren't dropping to zero, or anywhere close.
If you're thinking about this, then you have to consider how those business you mention make money with a similar model.

Starbucks: they don't charge $2 a coffee. I would only ever get a drip coffee and I think it's around $3, most people who are going there get drinks in the >$5 range. Plus they have a lot of traffic - more customers = less wages required for each drink

McDonalds: They charge less than $2/coffee. They charge less than $8 for a breakfast. They make their money on super high volume.

Your vision: you're enjoying lingering, enjoying the sun. You're enjoying the floor (patio) space, which means you can't have high volume unless you have a huge space, which wouldn't work with your "little shack" concept. Unless there's a nearby park or beach with free barely limited space, while also still having enough traffic to stay busy. Very limited spots that can work.

(so as with most issues regarding our urban spaces in north america, what we need to make them better is more density. :)
Describing the brain as "a computer" can't really be wrong because computers are universal. But it's also not necessarily all that useful, because, well, computers are universal.
As one carer put it, "You can't fix crazy." There's basically just no reasoning with them.

I saw an interesting vid on YouTube about a man who was relatively young, IIRC. He was in the C-suite of of a biotech company, but he suffered from some kind of dementia. I don't think it was Alzheimer's though. He slept in a separate room from his wife. He complained to his wife that his bed headboard was "rusty". As far as I could tell it was just an ornately carved headboard, and he somehow equated some of the carvings as rust.

There were other incidences like he would go through his wardrobe at like 2am in the morning. He appeared to want to sort out his shoes so that he could put them in his car. So there was something of a mess on his bed with wardrobe contents strewn out on it. He wasn't achieving much of anything, and of course there was no reason for him to sort out his shoes. Especially not at 2am.

It seems as though dementia sufferers do have some kind of "logic" to their behaviour, but it appears to be some kind of random logic without any discriminative faculties. And they fixate hard on this rationale too, making it particularly frustrating for those around them.

What's interesting, and actually quite well documented, is something called "terminal lucidity". This is when as someone actually gains mental clarity for a period of time some time before their death. The specific time periods vary with the sufferer. This is baffling medically, of course, because if a person's mental function is gone due to brain decay, then how can they get it back? And why does it foreshadow death?
If I invented the croissant I would work a 35 hour work week too. I mean, how are you going to top that?
I cringe when I hear people (often senior) saying things like: "Yikes, a 500-line shell script. We must rewrite it in Python for maintainability!!!!1!" -- without even looking at how it has been written.

Yes. Shell scripts can be terrible, and most are. But if one approaches them thinking that “the shell is a real language and must be written as such”, with solid principles in mind, it is perfectly possible to write clean, maintainable, and testable shell scripts.

Oh, and that 500-line shell script probably ends up being a 5000-line Python monster anyway.

(Edited to add a couple of links to related stuff I wrote in the distant past: 1. https://jmmv.dev/series.html#Shell%20readability and 2. https://github.com/jmmv/shtk)
Some banks offer sweep accounts that automatically move funds over the 250k limit into accounts at other banks (again, up to the 250k limit) or into money-market funds (which have their own risks).

I believe there is no way to eliminate credit, default, and/or liquidity risk entirely in banking (when cracks in the system appear and start spreading, you may have exposure no matter what you did), but it's possible to mitigate it in ways that don't seem to have happened here.

Here's a decent explainer on sweep programs (it talks about broker-dealers using them, but banks can also offer them):
https://www.sec.gov/oiea/investor-alerts-bulletins/ib_banksw...
This makes no sense. Circle's holdings are backing USDC. They can't use the money backing other USDC to buy more USDC. That's just market manipulation.
Are you suggesting a massive expansion of government assistance or of homelessness? I don’t see a fourth option.
> But is it real?

Yes. Money isn't 'real' in the sense people typically mean. It's an accounting unit, so it's exactly as real as a liter or a kilometer.
Roguelikes and "pause-ready" games like Europa Universalis 4 are much nicer at times than something that keeps you attentively shackled like a multiplayer match, but it's apples and oranges.
Meta Rediscovers the Cubicle
I'm not interested in maintaining societal institutions that are objectively failures.

But if you're worried about precedent, there's centuries of precedent that juries can not convict for any reason, or no reason whatsoever.
And then a taxpayer-funded bailout.
> Roku (who I have never heard of as a consumer)

Roku's been around for a very long time building decent streaming boxes for TVs that don't cost too much. I've been a customer since Netflix started streaming.
Yes, exactly. This article is about how Google wants to put this into everything. "A new internal directive requires 'generative artificial intelligence' to be incorporated into all of its biggest products within months." I think a lot of people are skipping the "what are the things we can use it for that are genuinely useful" step. Glad to see people actually doing that, so thanks for explaining further.
As a pretty decent hobbyist photographer this runs through my head every time someone suggests I do it for a living. The only happy wedding photographer I know is by his nature more business oriented and I don't have that edge.
A compelling narrative on the topic that went around a number of years ago:

https://slate.com/human-interest/2005/12/my-coffeehouse-nigh...
This would make the perfect TBBT episode title.
This is not great at all. I only really deal with Bitcoin, but stable coins are a utility token. For most of us, it is entirely pointless to even think about. But for people who have extreme trouble getting access to dollars, stable coins are the way they get access to them.

So in places like Argentina it may be easier to get stable coins delivered via some neo bank than it would be to get dollars from a normal bank.

Can you imagine living in a country where your currency inflates 100% YoY and then you find a way to retain the value of your labor by converting your paycheck to a stable coin, only to have it de peg in such a way that not only wipes you out in an instance (good luck offloading those coins) but also demonstrates the entire theory of stable coins are flawed. None of them remain stable.
Thanks to generative AI, catching fraud science is going to be this much harder