skysight-inc/HackerNews huggingface dataset:
So what exactly is a CEOs responsibility then? I feel like people are increasingly just removing any and all blame from CEOs for mismanaging their companies. Why should they even exist if they have zero responsibilities?
Because that's not the way we do things in the 21st century whether you like it or not. SVB made a dumb and serious mistake but it was still a mistake.
I've never heard of another example like this.
Those were Jan/Feb, how about Dec 2021?

https://seekingalpha.com/article/4565388-svb-financial-blow-...
If you think that's funny, I've got a ton of great news to show you!
> Do you really need someone to explain to you how being a funded startup founder is different than being an hourly worker on tipped wage at upscale restaurant?

All I am saying is that person is not a 1% and not even close. She has every rights to contrast herself from them.

> Is that a serious, genuine question or are you just trying to deflect criticism with a bad-faith take?

I worded it as a question to soften it and leave the door opened to criticism. But if your stance is that those people are entitled or fake poor or hypocrites and deserved to be laughed at, frankly.. oh well, whatever.
Probably the senior executive team in aggregate, but the speculation based on dates of departure/joining is unfairly laying blame at individuals without much evidence
You’re right, they aren’t. They are being used as meat shields for the banks failure. They are used as collateral damage because it is absolutely unfathomable that a bank use deposits to hedge against interest rate sensitive bets.

Yet here we are. Another round of bailouts that this time are rationalized as “not a bailout” because the bag holders, through no fault of their own, depositors, are the ones left holding the bag. A bank run was produced and in the name of financial and systemic risk avoidance, the free market finds itself, yet again, in need of a not-a-bailout backstop.

Other commenters stating that “the banks will pay, not the tax payers” need to get their heads out of the sand.
Hacker News Daily (https://www.daemonology.net/hn-daily/) is about 100 lines of shell script, including generating all the HTML.
> Companies deposited money in a riskier-bank

It's a top 20 bank that had passed all regulatory compliance and has been around for 40 years.
in 2017, how confidently would you have predicted that machines would not stand any chance of doing what chatGTP or stable diffusion do now?
Practical Optimizations – Jason Booth
There is no risk of principal loss in held to maturity assets in a vacuum, but there can still be risk if durations of assets and liabilities don't match, and interest rates move. IE if you've made a bunch of long-term loans at relatively low interest rates, funded by money you've borrowed short-term (including deposits), and then interest rates go up, you can find your cashflow suddenly negative.
The paper is just online at https://arxiv.org/pdf/2303.05670.pdf
No, storing everything in one account at one institution is a risky strategy. You're conflating what you want (something without risk), with something that fundamentally has risk anyways. You take a risk anytime you decide to do something with money, whether that's storing it under a mattress, giving you wallet to your kids, investing in a 401k, or putting money in a bank. There fundamentally is no such thing as a risk free investment when it comes to money. Even treasury bonds have risk to them, especially speaking in real terms.
They have a crazy person conspiracy theory, so it only works if they don't explain it.
Alternatively, I don't understand why we don't have more doctors in the US and drive down prices. I mean, I understand why the AMA wants that, but doctor-work doesn't seem that hard and I have no idea why they need to make mid-six figures.

I could be very wrong, of course, but it seems like most people I went to school with are capable of most doctor work.
You don't need to because now there is no limit. Bailouts for everyone!
Problem: My kids and wife would start Air conditioner at lowest temperature (16 degrees Celsius) and forget to switch them off. At one point in time my electricity bill was 50% of my house rent.

Solution: I used Home Assistant and Frigate (local NVR) to detect if there are humans present in the room, if no humans for 10 mins, switch off everything.
I actually use a combination of things to detect human presence, some of the things include motion sensor, PC active, user sleeping (10 PM to 8 AM), there’s also a switch I use to turn on sleep mode if I’m taking an afternoon nap (The switch automatically turns off after 3 hours).
I also use a template to measure if the AC temperature is below 22, if it is, I set it to 22 degree Celsius.
The automation above saved me 15-20% on electricity bill.
I blame this to political correctness. Someone who is fat is only that. She/he is overweight, unhealthy and got a problem. They should get help and get treated. That's it. If someone tells them that, they should take it as an oxymoron. It's like telling someone was how has a bad cough that they should cover their mouth while coughing as nd should check their lungs. It's just that.

But for some reason, acknowledging that someone is fat/unhealthy became an offense. People "know" that they are unhealthy but decide to live that way and feel offended. I blame the current health system. Because even if sick people wanted to get treatment, the may not be able to afford it.
Back in 2008, in contrast to mark-to-market, it was called "mark-to-make believe".
They got to play with 10x leverage with their client funds for free. You can't barely get 2x leverage at broker, you pay interest rates much higher and they actually enforce strict margins.

Minewhile these people out of their privilege as bankers got to play with much bigger leverage, while paying zero interest rates to their counterparty which turned out to be fully paid for by the government in the end.

100% investment loss in this case is hardly enough, with the leverage levels banks can access they can literally collect pennies in front of a train and have positive expectation values for shareholders, while investing in negative expectation value investments.

And they did collect pennies in front of a train. Bought 10yr treasuries at historical lows. They paid their customers nothing for it.

VC investment strategy for VC bank. They took the zero or hero attitude until the end. Again, we're taking about people with already VC mentality of "worst case 100% loss, best case 1000%".

No wonder that once VCs recognized their own shadow they fled so fast.

And now they are pretending as if it's the fate of the banking system on the line.

VC bank, managed like VC venture for VC firms. They deserve to lose VC money.

Their loans are probably also worthless than they claim, but they managed to successfully swindle the Fed in the most VC way ever with the shortest deadline. I'm betting FDIC is going to pay twice as much as expected in the end.
SVB was offering attractive loans to account holders, and many took them up on it.

If you just got a funding round you are already running your business on borrowed money. Imagine that a bank told you, deposit the cash from that funding round with us and we will give you even more funding!

That's pretty attractive when interest rates are super low.

When the free money spigot got turned off, mainly by the Fed raising rates, some of the account holders started spending their cash rather than running on more loans. The same increase in interest rates that caused that change in depositor behavior also caused SVB's long-term bond investments to lose value.

SVB effectively doubled down on the low-interest rate era by both depending on depositors living on loans (rather than withdrawing deposits) and investing in low-interest long-term investments at the same time.
I've seen it mentioned on here a lot that promotions/career stability inside google are heavily based around launching new products, and maintaining existing ones is kind of a dead end. Seems like the outcome reflects the incentives.
This is termed as the "culture fit" in modern interviews, I think.
If I was running in a server context, would the 50gb of ram be required to respond to one request, or can it be used to respond to multiple requests simultaneously?
It's an analogy about leadership? I didn't suggest a medieval punishment and I obviously recognize we don't do bills of attainder in America. I'm speaking for what the average person is feeling. Literally started off with saying "the average person is sick of seeing rich people get away with it".

But again, what presumption of innocence? I'm saying that if you are a bank CEO and your bank fails, it doesn't actually matter whether a reasonable choice was made or not. Bank failures affect all Americans, so there should be a penalty for causing that disruption. Most people would call that fair.
> It became illiquid last Friday after 42 billion dollars walked out the door.

True. That was the precipitating event that forced it into the hands of the FDIC. But illiquidity is not insolvency.

Insolvency means it could not pay back its depositors because it assets could not cover withdrawals. This hole did not appear last week due to the $42 billion withdrawals.
Google AI have also published a paper to go alongside this: https://palm-e.github.io/assets/palm-e.pdf
Rather, he is Modern Monetary Theory. MMT doesn't have an actual theory of the economy; it uses the standard model and just has a different vibe. So it's just whatever he and Stephanie Kelton feel like saying at the time.

The most notable different policy prescription (job guarantee) is odd because it's originally a right-wing program they just decided is left-wing.
To add an example. Israel with 9.3 million population has more productive scientists and engineers than whole continent of Africa with 1.2 billion population.
What if you have around 400GB of RAM? Would this be enough?
>This page lists the curriculum for following this course at the university of your imagination, for four imagination credits (ungraded).

Seems rather ridiculous of Cornell to dictate terms for the University of My Imagination (UMI), if an imaginary professor at UMI wants to grade my work I think they should be allowed to do so and even grant me an imaginary degree if they feel I have earned it. Guess it is true, universities do stifle creativity.
The bank is insolvent, the assets are presently valued below deposits.

This will happen eventually in that situation, to blame the catalyst is being disingenuous. The catalyst could've been anyone, and even in the current case it might not be Thiel - it could have been someone who did it first who then told Thiel.

Water can stay liquid below freezing, but it need just one shake to fully freeze over, and it's not the shakes fault that the water is now frozen.
I've been through enough different HTML variants whilst not having to adhere strictly to standards that I'm moderately fuzzy what the current state of the standard is. I hear the current standard is also ... large.[1]

But even if it's not strictly necessary to balance <p> tags ... it is necessary to do so with many other HTML elements, and missing or mis-typed tags can utterly bork a page, particularly if there's any complexity to it.

(Hand-crafting tends to minimise that complexity, but it's still possible to get reasonably twisted.)

That said, checking one of my favourite HTML5 references, whose page source itself is a beautiful example of clean HTML ... I see that Mark Pilgrim in fact omits the close tags on his paragraphs:

<view-source:http://diveintohtml5.info/introduction.html>

And that said: LaTeX and Markdown also omit the need for the opening paragraph tag. So there's that.

Still, fair point ;-)

________________________________

Notes:

1. Drew DeVault has suggested as much: <https://drewdevault.com/2020/03/18/Reckless-limitless-scope....>
Before Brexit was concluded, a lot of EU citizens in the UK started leaving. Why wait until the turmoil kicks you out when you can be proactive. Just like people start interviewing for a new job before the old company finishes going bankrupt.
What I always say when someone complains about TS and we should just write JS is “When you write JS you ARE writing TS, you’re just compiling the types in your head.”
I bet in many cases those e-bikes are a more efficient means of transportation. Bikes can transport more people per unit area than cars. They also have lower pollution levels too, even in comparison to cars who produce significant particulate matter due to the tires.

It’s a bit of irony that Amish communities are using a technologically superior means of urban transit than the average American suburb.
Unfortunately, he scheduled the trade in January or so. At least that’s what I read. Who knows the truth.
Regardless whether you think it's "fair" or not. Letting depositors lose their money won't prevent another SVB.
Perhaps it's region dependent, but mopeds in the US typically don't have pedals.

This source is from the UK but applies similarly

https://www.thebikeinsurer.co.uk/learner-guides/scooter-vs-m...
This is a good point, but presumably the ClosedByInterruptException was expected, aka they called thread.interrupt() on that thread intentionally. It was the side effect on seemingly unrelated threads that is the surprising behavior.

EDIT: Looking closer, it's just that they caught IOException instead of the ClosedByInterruptException subclass and expected it to be a non exceptional exception. One would hope they'd log the subclass type in that case and if so then yeah they should've seen that.
Really cool idea. For macOS, I just found out about trash https://formulae.brew.sh/formula/trash
The legal maximum is around $5000, so this is invoking a conspiracy to protect lower-middle-class thousandaires. So… that's fine then.
What would you call it if a VC was sending group chats to founders telling them to withdraw from a specific bank? Seems like ringing a bank run bell to me.

My understanding is that insider knowledge on the risk literally precipitated the run as more and more founders were trying to move all their money out at the same time.
It's odd that SVB's choice to forego short-dated securities keeps getting reframed as "they were a victim of a bank run" or "they were the victims of Fed raising rates too fast".

Any normal, non-degnerate bond manager would would keep a significant amount of 1-3 year treasuries in their mix of bonds. Feel free to call your 401k provider to verify this.

Thiel may be guilty of various things, but SVB's failure was due to overleveraged yield chasing.
Democratic campaign donors are not rich people, they're 40 year old middle class white women.
I'll ask the dumb question - he'd already taken his money out, what financial advantage is he meant to have then gained by encouraging others to do the same?
FDIC insurance was never intended to cover everything, hence the limit. It was designed to ensure that the general public[1] could have confidence that their deposits were safe. Larger players were also covered... up to the same limit. That is fair and reasonable. For those with significant assets supplemental deposit insurance products are a thing, just as home and auto insurance is, and these people/companies opted not to purchase it or otherwise prudently manage their money given the very well known limits of FDIC coverage.

Why should I be happy that the rest of us are now being volunteered to pay for insurance coverage for the group most able to understand the risk they were taking and pay for it themselves? If that weren't bad enough, this new coverage only applies for some banks. This is exactly the socialization of losses that so infuriates the general public. Not only are we paying for it, albeit indirectly, but most of us aren't even eligible for it ourselves.

This is yet another move in the exact wrong direction.

[1] i.e. the majority of individuals and small businesses who tend to be less sophisticated. As a result this quite easily understood system was put into place. I also don't buy any argument that something average Americans understand is just too complex or arcane for a group of largely 'qualified investors' and VCs.
This is quite a funny question. Sort of impossibly broad and vague. It’s a big country and 300 million people is really a lot of people. I guess I am taking it as a challenge to say something helpful in spite of it all.

America is an odd sort of country. It both incredibly homogeneous, yet also incredibly diverse. The idea that you can travel for thousands of miles and will be in the same country, same basic language and culture is pretty amazing to anyone from a smaller country.

So from one perspective, it doesn’t really matter where you live, it’s all America with its drive throughs and Walmarts and cul-de-sacs and strip malls and endless places to get a burger.

From another perspective, we are 50 states, each with its own flavor and history, made up of people from every country, and even every city has its own special vibe. It’s a place where if you have very specific values, interests and wants, you can find a place that meets them. You want to golf 365 days a year? You want to live in an Ethiopian community? You want to speak Spanish with your barista? You want to play in a bluegrass band? You want to eat lobster roll every day of the week? You want to go to monster truck rallies? You want to bag peaks on Saturday?

Most of America is quite nice, some of it not so much. And there are a lot of options besides Austin and Raleigh. So, sit down with your spouse and sort through what you value in life. Money, fame, culture, family, hobbies, weather and so on. Then start narrowing down your options from there.

And once you have some candidates, do yourself a favor and go visit them for a week or a month to get to know the place better before making a big commitment.
High inflation was coming anyway due to the baby boomer cohort retiring. Then the governments of the world pulled ten trillion dollars out of thin air. Anybody with a business degree who didn't see crazy high inflation coming out of that should've had it revoked.
1. Would land you in jail if the pump and dump backfires and you loose even more client funds.

2. They prolly did that for sure.
> the problem is that those securities can't be easily sold right now

they can be sold easily, they just happen to not be worth very much
It seems likely that it'd be proportional to your holdings in banks, though? So it's a bit of a wealth tax? Seems like people can put down their populist pitchforks. This is a pretty good application of an insurance scheme.
So I don't know for sure, but my intuition is that if this were a great deal with no losses, there would have been a private solution.

The socialization of the losses is the mechanism where any losses that do happen will be passed on to other banks, who will pass that on in some way. I am certainly glad it isn't taxpayer funds, but it's not a free lunch.
Why bother when they have political muscle and financial size such that everyone is forced to pay for their now-unlimited FDIC limits?
It's no coincidence that preventing a nationwide bank run is of higher priority than other, lower priority things.
For anyone who interests, A Little History of Science of William Bynum is recommended. A book written for school children, but IMO highly accurate and of course accessible.
Note that Silicon Valley Bank had no Chief Risk Officer from April 2022 through January 2023.
It depends!

In some cases, use of university equipment (the laptop) will make them want to come looking for money later. The use of the laptop might not even matter, with some employers the contract might permit them IP ownership of something you create even if it's entirely on your own time and entirely without employer resources.

I'd suggest you see if you can take your contract of employment, in particular any bit about an IP assignment, to a lawyer for advice. If your university has a student's union, they might have some lawyers that can give you free (or cheap) advice. You could also just ask the university directly, but that has the risk of causing more trouble than it's worth.
You're required to preregister stock sales, but you can cancel those preregistered plans anytime, so it's possible to get around it by filing and canceling often.
This isn’t true in practice for any country that uses English as a first language, where moped simply means an underpowered scooter.
> Anybody with a business degree who didn't see crazy high inflation coming out of that should've had it revoked.

Jay Powell had a degree in politics and law. So, yeah.
And why would we want those middlemen anyway? Let's just have Fedcoin and be done with it.
> I use notebooks for literate programming. It seems new? (as in, I don't think it was done in the 80s)

I've done a bit of the same with Emacs via Org-mode and Babel, and I want to do more! Literate programming (and even literate DevOps!) is great.

If it's picking up these days, I think that's wonderful. But the idea is indeed from 1984 (via Knuth)! So in that way, the resurgence of literate programming is the result of mining the ancient computing past for great ideas we've not yet done enough justice as an industry/practice/science. :)

> I wouldn't say embedding graphical content is a return to the 80s, but more like making a new mashup taking the best of the old (command line interface= minimalist yet powerful) and the recent (graphics= high information density) to go beyond the limitations of each.

I wrote what I wrote without any real pessimism. I think there's a lot that's still great about old technology, like Unix or Lisp.

In terms of really 'escaping from the 80s' I had something narrower in mind, like the actual implementation details of retaining compatibility with old terminals and implementing new features via escape sequences and stuff like that. I think some day more of a clean slate could be more flexible or easier to hack on. (Which is, for me, just a hunch— I've never worked on a terminal emulator myself.) But even then, I think that 'escape' would still be as much about doing justice to old ideas as being able to let go of old implementation details.
I'm pretty sure that calling your fellow commenters "trolls" and accusing them of having "psychological issues" also violates HN Guidelines, which say:

> Be kind. Don't be snarky. Converse curiously; don't cross-examine. Edit out swipes.

> Please don't fulminate. Please don't sneer, including at the rest of the community.

https://news.ycombinator.com/newsguidelines.html
Define “invest.” Banks invest. That’s literally what they do.
People deposit their money rather than put it under their mattress, and the banks reward them by giving extra money to them.

Then the banks figure out a way to put that money somewhere else that rewards them more than what they are giving the depositors.

Basically that’s the foundation of civilization.
But that is not true either. SVB could not find enough people to give loans which is why it was all parked in long term treasuries.
Cynicism isn't interchangeable with critical thinking.
you might not have a stdout, for example very low to the metal.
Apple TV+ Wins Academy Award for the Boy, the Mole, the Fox and the Horse
It's the duty of any corporate officer to act responsibly with regard to the fiduciary duty to the company and to the shareholders. If they get news that their assets are at risk, they must act. To do otherwise would create great legal risk.
The problem is not the neural simulation, but that we need to simulate pretty much all of the worm. And we currently can't do that.

The neurons in worm directly interact with muscle cells, for example, via peptide/monoamine signalling. Or with "remote" neurons.

This is all possible because neural network of the worms is directly integrated with everything. And the connectivity is hard-coded in its genome.

It's not true for more complex organisms, simply because you can't encode that kind of complexity in DNA. Instead it encodes the overall connectivity structure, so that emergent behavior provides necessary instincts.