skysight-inc/HackerNews huggingface dataset:
> What would you do if you were a board member of multiple companies and you found out their bank was financially unsound and couldn't do normal bank stuff?

Was there any evidence that they couldn't do "normal bank stuff"? AFAIK SVB still had ample avenues to raise liquidity before the bank run Thiel orchestrated. SVB's stock would have suffered immensely, but their operations and deposits would have been fine as far as I can tell.
Net-Zero Homes Aren’t Just for Millionaires
https://archive.ph/TeU8b
SVB was never "unsound." They had plenty of assets to cover all their deposits and plenty of cash to cover normal withdrawals. If not for people like Peter calling for a bank run, SVB would still be in business today.
And if you have any rails exp, picking up Laravel is simple.
you should move back to soviet union if you like it so much. Get a real taste of communism.

"Capitalist West is bad, communism good" (C)
There are lots of things that happen when a program runs that a compiler is unaware of. A compilers don't run during runtime... So I am confused what you mean by mis-compilations.

As for runtime this is why people follow an ABI. Otherwise lots of things like dynamic linking ect... would not work.
I moved to poetry (ergonomics) and publishing wheels with frozen requirements, at least for apps, here's the plugin I used https://github.com/cloud-custodian/poetry-plugin-freeze .. readme has details, tldr freeze the graph for repeatability regardless of tool, Ala pip install works years later.
Can’t we all just agree on “shit canned”?

“Today we are announcing that 10% of our company is being shit canned”.
They aren’t a drop in replacement. Heat pumps need large ducts or you won’t have enough flow because the air in the ducts is not that much hotter than outside air. Delta t is low
It’s fun to call elite people foolish and sometimes they are, but your picture of what was going on at SVB is not accurate.

SVB was not guaranteed to collapse, but their marginal solvency relied on depositor behavior that was already changing. They had complementary problems on both sides of the business and were getting squeezed by it. Nobody can know how long they would have lasted without last week’s run, but things were looking dicey and they easily could have failed to satisfy withdrawals even if there was no public knowledge of their situation. The publicity and run just resolved the genuine underlying tension that was already there.
> What companies layoff their best people?

Any company where the execs and decision makers are so far removed from the people they're judging, where they won't even truly understand or care what the person does, let alone who they are.

Google and Twitter and two very recent large companies that have done just that.
You're missing the important fact that SVB did not have zero assets. The difference between the value of assets on their books and the amount they owed depositors is, AFAIK, not a public number outside of speculation. It might be as small as a 5% split, which they've said will not fall on the taxpayers.

The government acting as a backstop and regulator to the banking system is one of the fundamental features of the United States, and was one of the most important decisions the framers made. I'm not trying to defend the fed here, but these words have meaning. Socialism is not just the government taking any action whatsoever.

Also, I'm not sure who was begging for the government to save SVB, and I'm loath to defend a straw-crowd, but that doesn't seem a fair characterization of what happened.
HOW do you have hundreds of portfolio companies with uninsured millions in a bank. Please can some venture capital expert explain? Tell me it's not just hubris.
No More Mr. Nice Guy: GitHub Demands Developers Use 2FA
Coming within 20 minutes is "too little too late".
No? If you hold a 1.5% bond to maturity when the cash rate is 4.5% and projected to rise further you lose money in a very literal sense. Also they had to sell some at loss to just keep going before any gossip of trouble.
Kinda cool. Here in Colorado, a narrow gauge steam engine threw sparks and caused one of the largest forest fires in the State's history a few years back. Steam engine aren't (always) allowed on the line anymore.
FWIW, Helix does have tabs. (Set `editor.bufferline = True` in `config.toml` in order to have them listed.)
The paragraph right after says

> Additionally, organizations may have their own billing information associated with the org itself. They can use this to sponsor the
accounts of their members, allowing the billing for a tightly coupled
group of users (e.g. staff members at a company or organization) to have
access to centralized billing. Through this they can meet the 50%
requirement without having individual members pay up.

Organizations can have centralized/simpler billing with this proposal
Hell yeah, I'd be down too.
The author of Zutty has a pretty comprehensive writeup around that: https://tomscii.sig7.se/2020/12/A-totally-biased-comparison-...
I made a garbage tool to pull repositories from gitlab to github or vice versa. I used it just to explore Go so it's not really prod ready but handy if you're just looking to move your code over.

It most likely will explode.

https://github.com/tylerjgarland/git2git
I know a few libertarians, and I've never heard any of them say "we don't need government services". I think that's the straw man version of libertarianism, the one that's easiest to dismiss.

It's always a question of which services are best provided by the government, and which are best provided by private entities, or partnership of the two. Different libertarians arrive at different definitions of "state capacity".

I really don't think of that philosophically as being quite as simple as it's portrayed a lot of the time. In fact, I'd say it's harder to predict what a libertarian believes, since that group has more than its share of contrarians.
It's ironic how Silicon Valley played a significant role in the current administration's rise to power.

I'm not even referring to the peculiar moderation strategies employed by Twitter, YouTube, and Facebook. What's truly fascinating to me is the extent of donations from billionaires and high-earning employees to get these politicians elected. The sheer amount of money involved is mind-boggling.

To be honest, a part of me was against the idea of backstopping (bailouts). I wanted these people (you guys) to see the consequences of the monster they have created.

And just to be clear, this is your making and its just the beginning. It's a result of a chain of events that can be traced back to the lockdowns and MMT economics. While it's easy to blame individual actors for the collapse of SVB, the truth is that all of this could have been predicted. It's not sustainable to continuously pump money into the system, creating an extreme level of fragility, only to drain it out later without any consequences.
No bank is infinitely liquid. Processing transactions at the volume that happened during the run is the opposite of "normal bank stuff." Neither of those points make any sense, and they reinforce the point the original poster was making. If you think that a bank is in trouble because they can't handle a huge percentage of their depositors pulling out their money, you don't understand how banks work.
Even though features are half-baked I still think the future is bright for them, especially if GitHub slips up or gets complacent. Intel showed us that it is possible.
I don't get people who don't understand www make these laws. The concept of linking something is core to the idea of web. It is beautiful and useful and no one should need to pay for adding an hyperlink.

If media publications want others to not get access to the content, they can choose to not add OG tags or just not let the Google or social media bots scrape the information.
I file a report with the FTC [1] when I receive such emails.

[1] https://reportfraud.ftc.gov/#/
Maurice Godelier is a very interesting anthropologist according to me. I remember reading from him that one thing that he observed in all societies he studied is that some things are meant to circulate, to be sold, give, whatever, and some other things are meant to be kept/preserved.

Maybe it's ok to keep some things out of the market's reach
Interesting to see Alpaca readily adopt the persona of a Stanford student for the congratulatory letter. I expect that AI-generated essays submitted by actual students are fairly convincing to their professors as well.
Other banks saw the hikes coming (and plenty of regular people did too), and bought insurance hedges. SVB was relatively unique in not doing so.
Businesses should better manage their risks, and advisors such as VCs should be helping them do that. Bank runs aren't new and _shouldn't_ be surprising (in the sense that they are possible, not in the sense of any particular occurrence). It is well known how much the FDIC insures, so beyond that amount you are taking on a risk with the financial institution. I have family that uses multiple banks just for that reason, both to for insurance coverage and to address any short-term liquidity issues that might arise before the FDIC enabled repayment.

There probably should also be better services out there for outsourced corporate treasury functions. ICD exists, but probably is too costly and specialized for smaller firms.
The news here is that insurers have a new tool for excusing themselves of responsibility, and might start to wield it in order to deny even more claims than before.
Oh, got it! Thank you for scrounging that up I was specifically looking for mention of that site, no wonder I didn't find it. Makes a ton of sense in general and it's lame we no longer get a special exception to their wall.
Evolution of French (2019) [video]
> The FDIC, an instituted paid for by taxes

FDIC is not funded by taxes.

https://www.fdic.gov/about/what-we-do/

“The FDIC receives no Congressional appropriations - it is funded by premiums that banks and savings associations pay for deposit insurance coverage.“
Nope, someone else would have started a run.
It's all clusters encapsulated in bastions now.
I have done this as a child with my grandparents, but I'm not sure there's that much difference from an old/worn (less smooth) commuter train at a similar speed.

For a child, I think a better experience is visiting a larger preserved railway. I liked visiting the locomotive works at Loughborough (Great Central) since age 8 or so I was shorter than the largest wheels of most locomotives. I'm not sure if it's still the case, but back then we could walk close enough to risk getting grease on our clothes. From Google review photos it looks like it.

(From the article, I'm still shorter! They're over 2m in diameter.)
I mean, Peter Thiel has undeniably shaped startup culture for the last two decades, in particular 2008-2014 or so.
What happened to Gitlab? They used to be one step ahead of Github in some areas, then seemed to go full enterprisey and lost their competitive edge. I smell some sales oriented strategies.
"Don't withdraw your money or you stand to lose all of the non-FDIC insured money you don't withdraw" is an absurd stance. If tomorrow I realized that, if I were too late to the withdraw party my account would turn into a $250k IOU from the FDIC, I'd absolutely move my money to another account.

The bank was belly up - placing the blame on the people who expected their bank accounts to be liquid doesn't seem like the correct take. When you put your money in a bank, you expect to be able to pull that money out at any time for any reason. One of those reasons is suspecting the bank is incapable of surviving you withdrawing your money.
If I were you, I'd go out and talk to people. Talk to friends in the industry. Go to tech meet ups. Even your neighbors might know someone who knows someone. If you can be adaptable, and self-promote, you might even find opportunities to help non-tech orgs improve their systems. If you're like me, and social skills aren't innate, it might take some exposure therapy, but as long as you maintain a friendly and positive attitude, that will register. It's all about building trust.
Good question.

Who eased the Banking Regulation limits from $50B to $250B, allowing SVB to take Billions during the pandemic and invest them in low interest MBS without hedging them appropriately?

https://www.reuters.com/article/us-usa-trump-dodd-frank/trum...

Is that a friend of Peter Thiel?
Someone he's been a vocal political and financial supporter for?
Privatized credit rating agencies are so outdated and barbaric. Feds should nationalize them into a single public service run without profit.
You would imagine he read it at some point. You would also imagine his CEO would have internalised Paul Graham's most important piece of advice about communication (writing clearly).
A bank makes money from deposits by making available a % of them for loan originations. If all deposits are assured, then either the bank cannot take on any risk, or they can take on risk with the knowledge that the gov will foot the bill for any loss scenarios.

If the gov removes the potential for risk, banks will be free to make wildly speculative loans/investments, which will of course fail in time, causing the gov to tighten regulations even more until all profit is driven out of the game. Thus the gov would be the sole regulator of loans centralizing banking.

Sure,maybe you get some banks that pop up and offer assured deposits by only floating operating costs from risk-free assets like treasuries, but then you're looking at pay-to-bank for economic times with unusually low treasury rates.

Maybe I'm being hyperbolic, but it seems like a potential evolution when moral hazard isn't controlled.
Don't get me started on Experian. Their core service is providing credit scores to lenders. Years ago, I went through a rigorous process to clean up my credit, something which took months but was at least honest on their part.

Then they began erecting hurdles, such as a neverending stream of rejection letters requesting further detail when trying to investigate a report. I knew at that point weren't being above board because one of the companies on my credit report had gone spectacularly out of business during the 2008 financial crisis (Countrywide... Remember them?). This company was no longer responding to credit inquiries and yet, Experian failed to remove the offending entries.

Now they are brazenly advertising a service for consumers to raise their credit score... Yes, the very same one they gatekeep.

Fortunately, I have no use for credit any more.
I feel like WezTerm has a vision of being something bigger than a traditional VT emulator. It feels more like an environment to live in, an Emacs of terminal emulators, with its own tiling, status bar, dynamic scripting, builin Lua console, programmable events, very rich graphics. It's not a faithful old-school TTY emulator like xterm, it's not featureful, but boring Konsole, it's not ascetic but fast Alacritty. It's an experiment.

I don't personally like all of its design decisions, but an Emacs-like vibe really intrigues and attracts me.
There is the option to `auto-format` on save, if that helps.

(FWIW I use neither, and format via pre-commit hooks instead of in-editor.)
Whenever money is involved, invert Hanlon's razor. High prior on malice, low prior on ineptutide.

Some well-meaning team of data scientists might have produced this model originally. But its employment in this manner cannot be assumed to be anything other than malfeasance, except in the face of significant evidence to the contrary.
Why do you say misdiagnosed in light of the scale of unrealised losses at SVB vs its equity?
what is interesting to me is they are building machinery designed before modern manufacturing methods and material science. Looking through another steam engine revival project they are using modern design methods and likely materials: https://www.a1steam.com/p2monobloc#/
Ask HN: Should I grow my company?
I've created and owned a SaaS company for the past 10 years.

I'm the owner and sole employee that has created and bought everything from 0 with 0 loans or investments. I purchased and assembled the servers, switches, pay for colocation, maintain the software stack and built the Service (software) from the bottom up.

As you can imagine it took a while but for the past few years it's been going really well, to the tune of 35-40k/month in revenue out of which company expenses are about 7-8k - mainly colocation and a few licenses.

I'm seeing clear growth happening(30-40% YoY for the past 2 years) but I would need more capital to really take the next step. The SaaS is a niche in a very well established market with high growth happening for the next few years at least.

How much more could I be making if I get an investor(s) ? I'd have to relinquish some control of the company I guess and in the end would I be making 3/5/10x what I make now, or about the same ? Anyone has some stats on how much founders are making once they accept outside capital ?

Currently I've invested all the money I make back in the company but also in real estate ( I own 2 condos worth about 1M ) + a mortgage on a third in which I live. My current plan is to buy 4-5 more and possibly retire in my early 50s - I'm 40 now.

I also own another business, a gym of all things, and that gave me a bad taste of having to deal with employees and 1000 management problems. You make a bit more money but then you have to hire more employees, etc.

My current plan seems lowkey and not very grandiose and it's got me wondering if others were in this situation.

Yes, I'm aware of being the SPOF, I have all kinds of insurance against illness, death, etc.

What I like about the current situation is that I've lived and worked from all over the world. I've stayed months at a time in different countries & cities and got to learn new languages, discover new cultures and have an unabated sense of freedom.

I'm putting all this in the balance vs potentially making more money by growing the company - thoughts ?
To elaborate, I'm convinced that Jerome Powell knew something like this was bound to happen.

However, in my opinion, the decision was made that it would be more feasible to address any issues that arose from rate hikes than attempting to address the potential consequences of inflation runoff.
Same here I only had good experience with it and I just can't get used to other PR review UIs.

That being said if I were a CTO I would not buy their services, I think they are too expensive.
You can use an I2C SD Card Module: http://www.technoblogy.com/show?3Y2L

or use zlib to compress text data: https://docs.micropython.org/en/latest/library/zlib.html
Well, now it got merged.
> Was there any evidence that they couldn't do "normal bank stuff"?

His fund had problems transferring money and that's why he noticed something was wrong.

Someone else would have had similar problems, and would have noticed, even if Thiel didn't act.
That's the nature of steam. 15 year boiler recertification, which is effectively a refurb. Hours in service don't matter for those.
Experian should be illegal under GDPR. It operates without the user/victim's consent and the victim has zero rights over the data collected, much of which can have a drastic effect on the victim's life. I can't believe Experian exists.
How different is the compensation between typical backend eng and backend ml eng? Not including designing the model itself as that seems to be the domain of phds it seems
Let me know when I can buy one to install under my house in the crawl space. My house was built in the 30s before forced air was available and the ductwork is a retrofit because the crawl is almost big enough that I can stand up in it. We currently have a giant Rheem gas furnace and I'd love to replace it with an electric since they're no longer up to code as of this year.
At a guess: assuming quality scales with size, the model in the data centre is always going to outcompete the model on the device. So in any situation where you've got bandwidth >4800bps, why would you choose the model on the device?
How about Reuters?

https://www.reuters.com/article/us-usa-trump-dodd-frank/trum...
It won't fix it for sure, but it will help. Reducing the pressure on the population can go a long way to improving future prospects.
I feel like a lot of software written in C is written in C for performance reasons. Obviously that’s not always the case and TCC is useful but I wouldn’t say that that most software should use it
It's very atmospheric, an absolute joy. But the best part has to be turning up at Victoria in the middle of the evening rush in an 80 year old steam train. The looks on people's faces alone are worth the price :)
Hopefully the developers don't use T-Mobile...
Sticks and bones may break my bones, but words can divert me into hours and hours of endless hairsplitting and bickering until I die of being bored with myself and doctors gather and marvel at the inexplicable fact that I am still complaining in the absence of a discernible pulse
> Creating a position for employees that aren't needed is generally not a business priority.

You are describing the status quo quite correctly.

That is probably consistent with the textbook form of capitalism.

However, it does not HAVE to be this way. If you have smart, well-educated, experienced staff in roles that are no longer needed, how about thinking hard about how you might deploy them in new beneficial ways? The result could be increased loyalty and a new line of business, a social (yet still profitable) venture. Does anyone have examples?
Heads-up that soft-wrap is now supported at HEAD!

https://docs.helix-editor.com/master/configuration.html#edit...
They were insolvent before that 42 billion was withdrawn. The bank run only started after they announced their insolvency.

SVB sold all of its liquid securities to finance regular customer withdrawals, and came up short. It announced that it's going to be borrowing money, selling more shares, and that it's going to mark down it's long-term assets.

The bank run started after that announcement.
Automate anything in minutes with Snowflake and Pipedream
True, it hasn't held up in that sense.

Although diving deeper into the legendarium, there is the fact that the southrons and easterlings were corrupted by Sauron to worship him as a god. So you could choose to view those descriptions as consequences of that rather than perceived racial or cultural inferiority. And indeed the "fair and beautiful" Numenoreans were at one point corrupted by Sauron in very much the same way.

But yeah, you definitely have to give Tolkien a lot of help on this one, and it's not terribly helpful in the context of reading to your children :/
It'll happen to yooouuu!

Kidding, but is there a word for this kind of Sonder? When you realize that your grandparents used to be people? Or when you notice that the "grown-ups" are now you, and you have no idea what you're doing? And that they probably didn't either?

I get it when I realize "huh, this is the age my parents were when I was born," "this is the age they were when I went to college," etc. etc.

We were always somewhat insulated from it because pictures of young-old-folks were all black and white, but kids born today will see the tiktoks that their parents made. I wonder if that will shorten the emotional distance.
Waiting to be able to feed a LLM a transcript of an ongoing meeting, then ping me when my attention is needed with the context summarized.
I have many reasons to dislike Thiel but being first in line for a bank run is not one of them.

SVB would likely have had a run eventually given that the increased withdrawal/desposit ratios of a cooling VC market would have eventually forced them to lower interest on customer deposits very low compared to other banks (because they had a lot of underperforming assets in their books in their HTM portfolio), at which point a lot of deposits would have been moved elsewhere naturally, forcing the sale of non-HTM securities and probably eventually forcing the sale of HTM securities at a loss (triggering insolvency).