skysight-inc/HackerNews huggingface dataset:
Extra money is precisely what Yellen is proposing. The government will backstop the depositors to prevent a run on every other non-SIFI. This is the right move.
In this scenario, the government will likely lose money because the existing assets will not cover the loans made out to depositors.

For example, if the government buys the 10 year bonds yielding 1-2%, they will lose money based purely on future value.
There’s a theme of NEVER AGAIN comments in these SVB posts. Harkening back to 2008 financial crisis.

Doing your best to make depositors whole (maybe not 100%, but as much as possible) is not a bailout ala 2008. It’s generally not very controversial financial policy that prevents a financial contagion like 1929.

No 10 person company is going to split their 2.5 mil 10 ways to get insurance. And they’re not going to have the sophistication to manage that. Nor do we want to force small businesses to keep cash under mattresses or have to evaluate a banks balance sheet.

If you want to think of a bank account in those terms, then you expect a radically different financial system. Which is fine, but don’t expect such a system to exist in our lifetimes, or during the current crisis.
> My feeds are full of sociopathic libertarians calling for government to make sure they never suffer any consequences for their failure to adequately manage risk?

Not sure to whom you’re referring, but they’re not libertarians.
Well, if I'm going to remain cyncical I'd hazard a guess that many of these startups are to "disrupt" some industry anyway -- automating the previously unautomate-able, putting huge swaths of people out of a job (often with no clear path to a new career) So, if those jobs are preserved a few days / weeks / months longer, I guess it all works out.

There are potentially millions of workers under a great deal of pressure to not lose their jobs to some disruptor or another. Are we somehow less sympathetic to them than these tech workers?
Oh, Japan...
Normally HN has some of the best quality comments on the whole internet but the amount of FUD and just plain wrongness in this topic is surreal.

The truth is: the bank’s risk management was done by a couple pigeons: one to peck ‘buy long duration’ and the other to peck ‘approved’. There is no other bank like this. Spillover risk is zero. The folks who are shouting about systemic bank run are talking their books (Ackman please shut up now if you’re reading this)
Didn’t help the chief risk officer quit in April and a new person wasn’t hired until January. So there wasn’t even a Bob in this scenario.
Roughly how many months/years of rent is that? "Easy" and "hard" have to be understood in ROI terms, otherwise everything in the construction world looks intractably hard.
I have switched to leaf since I wanted to use actual blades and not waste so much plastic. Works quite fine. Unfortunately we in EU pay almost double price compared to the US.
Hey, wait a minute.. those sound like really useful use cases for public transparency. So we just need folks to tag and shuttle these things into a blockchain, and present some kind of API to allow (data) mining it?
I don't believe that.

People used to pay to have their sites published just because they had something to say and wanted others to read it. This is how it should work. Why should we pay to read some guy's hot opinions? Would you pay me to read this comment? I doubt it. If you actually have something to say, you need to go out there and actively say it to people. You don't charge them for the privilege of listening to you.

Truth is these for-profit sites just want our undivided attention so that fractions of that attention span might be redirected towards ads and therefore their pockets. They don't really have anything real to say. They'll say anything that brings them the desired profits. They'll avoid saying anything that could harm profits. Therefore, not only are they untrustworthy, they are essentially worthless.
And they can't get a bridge loan from Brex or some other financial institution? They also can't delay part of those payroll deposits a couple of days until later in the week when the uninsured partial dividends get paid?
Backblaze’s 2022 Drive Stats Review – The SSD Edition
I use iStat Menus on macOS, and configure it such that it displays the MacBook power draw. It only works on Intel-based laptops; on the new ARM-based M1 MacBooks, that sensor no longer available. Probably a security thing (rowhammer?).

Such a cable would be very useful but your comment makes me think twice...
A fundamental component of finance valuations and rules is time.

Saying that the fed should stretch out the timeline of asset sales so as to ensure they mature into their valuations doesn't align with how things work. Time value of money is a thing, if we consider even moderate inflation for instance, the cash you can get today is worth less in the future. In order words if SVB assets are worth $100 today, it makes no sense for me to hand them $100 in cash today while I wait a decade for their bonds to mature, just so I can sell them for $100 again.

That is before we get to the fact that the fed is not in the business of managing investments for random failed businesses.

If some knight in shinning armor takes a look at SVB assets and deem them worth some future value that would justify the current need for cash, they'll buy the bank. So far it appears no such knight has emerged.
The trigger has been pulled on fossil-fueled global warming, and the planet will continue its steady avg temperature rise for the next 100 years at least, at rates equal to or exceeding those seen over the 1980-2020 period. It will take at least 100 years after the end of fossil fuel use to equilibrate to a new stable temperature, and various feedback processes (permafrost melt, polar oceanic warming) will continue to leak carbon to the atmosphere regardless, perhaps for centuries.

> "The global annual temperature has increased at an average rate of 0.08°C per decade since 1880 and over twice that rate (0.18°C per decade) since 1981. The 2020 Northern Hemisphere land and ocean surface temperature was the highest in the 141-year record at +1.28°C above average." (NOAA)

Practically, this means that at least as much effort needs to be spent on adaptation to new conditions as needs to be spent on replacing fossil fuels with renewables. These conditions include increased floods and droughts and heat waves (due to increase in atmospheric water vapor and its various chaotic effects) relative to human civilization history, and inexorable sea level rise on the longer term.

The 'positive messaging' advocates who say that stating this is discouraging and causes people to lose hope are simply wrong. It's better to think of it as a challenging reality. Adaptation is possible to some extent (termite architecture for example), and of course the sooner fossil fuels are eliminated from the energy mix the slower the changes will be. Also, don't buy property in flood plains or right on the coastline, or on debris flow zones, or in wildfire-prone areas, and don't complain about recycling urine for drinking water either.

As we have sowed, so shall we reap.
It's a matter of differing expectations.

When you purchase stock in a bank, there is a reasonable expectation that your investment could lose value.

When you deposit money with a bank (in the United States in 2023), you basically never consider the possibility that you might not get it all back.

You can certainly argue that the expectation isn't fair, but I'm pretty confident it's nearly universal.
Yes, here’s a nice description of how to setup:

https://twitter.com/wesbos/status/1634310926219333642
New idea for sucking up Carbon Dioxide from air shows promise
As far as I can tell, there's no way to buy private insurance for a bank account. This seems to be a widely-held misconception.
“” look like 66 99 in conventional serif text fonts, but have wide variation in sans-serif and decorative fonts where they often resemble ‶″ or ″‶ .

„‟ are more consistent in current computer fonts by virtue of their Unicode names strongly suggesting a particular appearance.

“ U+201C LEFT DOUBLE QUOTATION MARK
” U+201D RIGHT DOUBLE QUOTATION MARK
„ U+201E DOUBLE LOW-9 QUOTATION MARK
‟ U+201F DOUBLE HIGH-REVERSED-9 QUOTATION MARK
〝 U+301D REVERSED DOUBLE PRIME QUOTATION MARK
〞 U+301E DOUBLE PRIME QUOTATION MARK
Who Gave the Battery Such Power?
Kudos for providing a useful answer to a question that doesn’t appear to be asked in good faith.
Why is it always analogue output with these kinds of devices? It seems to me like it should be easier to do some form of digital out, but you never see small micro-controllers implementing any kind of digital video output. Is it just because current video standards are bloated and terrible (HDCP, really complicated spec, etc) or is there some more fundamental reason why analog out is so much easier?
> Is an incomplete picture that forget most relevant factors. For example that France and Spain receive more than 80 millions of international tourists each year and this factor have to be corrected to compare countries.

Why do you feel that tourism is relevant?
Good, they need to convince depositors at all the small and medium banks to not drain their account Monday morning. Many banks have mud and longer term treasuries in their book and they’d be well under water if they had to mark to market which they would if forced to sell. The Fed has had erratic policy for a few years now and combined with the Gov flooding the market with cash and stims, all these safe places to park cash have suddenly been made into speculative investments.

We don’t need 1000 banks collapsing. Irresponsible fed and government need to own this and ensure deposits are safe. Selling everyone nearly 0 interest bonds and then jacking interest rates to the highest rates in 20 years over the course of 12 months is a scumbag move.
Making milk using cows is incredibly inefficient from an energy inputs point of view. You have to grow crops which you feed to cows which then turn a tiny percentage of the input energy into usable food. As a result, it's possible that synthetic milk could be massively more efficient in terms of its climate impact. Not saying it necessary is right now, but it certainly could be.

Methane emissions are also very important as pointed out by another commentor
> Apartments, obviously, need operable windows to vent cooking fumes and brighten living space.

I for one would be perfectly happy to rent an apartment without any windows if it meant getting a place located in the heart of a major city.

> although, of course, a common bathroom for 20 units won’t do

Again, I’d be fine with dorm-style shared bathrooms as a trade-off for having an apartment with an excellent location.

I suppose the overall sentiment I’m feeling is that I’d enjoy living in a dorm-style building for young professionals. Go ahead and throw in some large common rooms while you’re at it. I get that this isn’t for everyone, but I think there’d be enough demand from individuals in a similar demographic (i.e. professionals in their early 20’s) to make this viable, especially somewhere like SF.
My speech gets rate limited under the guise of "posting too fast" here from time to time. For YC that and flagging are a feature being used to control the narrative and as a user it sucks because you can't in general have a conversation about anything remotely confrontational. Same thing happens at Twitter despite the new boss. Rules more thee but not for me.

So I agree with you in general. But in my opinion YC doesn't want the petition on the front page probably because they don't want to have to explain the comments to Congress or the press. Imagine asking for a bailout and having the comments here read out loud in a hearing. It's just not a good look. But you know what else isn't a good look? That this post was flagged, edited and restricted.
When were these glory days that people made good content - news and/or analysis for free?

There were endless free sites, without advertising, back in the day. Many were people installing apache, and putting simple html/text pages up.

Free content outnumbered anything commerical for a decade, including blog spam.

Altavista being bad at filtering, is not relevant, becuase you're stating the problem, which gave rise to google.

People could no longer find valid content, due to a tiny number of bad actors.
> Dietary choices are a personal thing, all the new options are only good for that (not withstanding misleading advertising).

I have some bad news about oat milk with regards to that as well.

https://www.jeffnobbs.com/posts/is-oatly-healthy

> A 12-ounce glass of oat milk (the amount in a medium latte) has about the same blood sugar impact as a 12-ounce can of Coke.

Please do be careful. I am not saying Oatly is necessarily worse than milk for you or even bad at all but this was a boring long existing brand taken over by a savvy CEO that turned the marketing up to eleven (gearing up towards an ipo) -- we would all obviously like milk alternatives that are both healthier and have lower carbon footprints and that desire is being exploited to the hilt.
sounds like the same thing to me.
Shareholders are paid last by law. So if depositors are not made completely whole, shareholders don’t get anything.

1. https://www.fdic.gov/consumers/banking/facts/priority.html
Bail them out at the value of remaining assets in the bank basically buying back the bonds. Any left over losses distribute over the depositors .
>That is suddenly no longer true. This newfound flexibility has triggered the “Great Resignation”, where people prioritized other factors over professional considerations. Many people are voting with their feet and moving away from traditional economic hub cities to different cities, towns, or rural areas, with no diminishment of economic opportunity.

>https://jobs.lever.co/flowlife

>All jobs ON-SITE

I'm gonna pass on this venture fixing the problem, they can't even dogfood their own founding principles.
> People made content because they wanted to, and it was generally better quality than the corporate blogspam we have now.

I agree. But the web was smaller then and I'd guess that in absolute numbers the amount of personal websites and blogs is greater now. They're just drenched in a tsunami of noise and search engines won't help you find them.

> The commercialisation of the internet was a mistake.

And inevitable as capitalism has a tendency to commodify almost everything, sooner or later.
I don’t understand this debate. The article says nothing about whether or not depositors will be bailed out.
I don't understand how that's socialism?
You make valid points. I’m not sure why you’re downvoted.

I think the question now is whether a bailout would provide better ROI to the US economy than no bailout.

Yellen seems to think the ROI is worth it.
If that's the case, why is that one flagged then?
Only if you can ignore the bitter aftertaste, the overly 'creamy' taste and consistency and the fact that it does taste of watered-down porridge.

If you decide to like the stuff anyway you might as well make it at home instead of paying some greenwashing company far too much for watered-down porridge. Oat 'milk' is ~10% oats, ~3% fat (rape seed oil works fine with its neutral taste) and some salt for taste. You can make the stuff in a blender, just take some oats - breakfast type works fine - and blend it with the other ingredients. The main thing to watch out for is that you run the blender in short bursts since running it for a longer time produces too much heat in the mixture which leads to a slimy unappetising result. So, short bursts until the oats have been shredded to the desired (small) size. Use immediately or store for later use, you'll have to shake it just like you have to do with the commercial variety. Taste-wise there is not much difference, you can make it taste any way you want.
I don't get this comment at all. The post you're replying to literally says the bank has more assets than 250k per client. I read somewhere the insured amount is around $8B whereas the bank's assets are at least 20x that. Where should that money go if every client gets capped at 250k?
I have one but I never use it, I always go for the slow cooker instead. For me there’s a very limited number of things I slow cook/instant pot. For those things I always prepare hours in advance so there’s no need for a pressure cooker.
> “Depositors shouldn’t get anything beyond the insured $250,000”.

This is just uneducated people sharing a knee-jerk reaction.
Do you think the $250,000 limit was an accident? Someone tripped on a keyboard and that’s how the provision capping the insured amount came to be in the law?
SVB readership? Are you still drunk or something?
Yeah, you can short eurodollars or maybe something else to hedge risk. At a certain point, you need to be sophisticated enough to manage your funds.
Why on earth is asking such an absolutely necessary question a bad faith thing :/

His reply is good, especially this bit:

> Of course I'm not keen to spend more on plants than I would for an animal product, and one wonders how green something can be when it includes coconut transported via cargo ships and highly refined ingredients.

Further down thread I discuss Oatly and their misleading marketing claims. A healthy amount of skepticism towards magical new solutions is very much in order.

The methane thing is not true and has been debunked as I understand it.

> The most cut and dry benefit to alternatives is far and away animal welfare.

That is... very difficult to debate as it simply depends on where you are getting your milk from. It is certainly possible to produce milk with perfectly happy cows, if that is the main concern could just advocate and insist on that directly.
And at scale, the cost ceases to be remotely near zero. Netflix would implode rapidly without income even if they stopped producing content.
Silicon Valley Bank Tanked, Dragging Down 500 Israeli Startups
Confused - that's my one word.
You overestimate the level of financial literacy that people have in tech industry, especially the immigrants... I can say from personal example that I "lost" a ton of money by letting cash just sit there, especially 10-12 years ago (I learned what stock market was, other than in the most abstract way, in 2008). And then when I learned a little bit was I talk to random friends, both immigrant and US-born, I get a feeling that my meager knowledge puts me in a pretty high percentile. Someone who grew up here asked me what CDs are; and just yesterday I was explaining what S&P 500 was ;)
As others have pointed out, those assets are not liquid. And selling many of them on short notice, will cause all other kinds of problems. Takes time and you wont get the money equal to their current valuation.
Seems likely it’s all there.

https://www.fdic.gov/news/press-releases/2023/pr23016.html

> As of December 31, 2022, Silicon Valley Bank had approximately $209.0 billion in total assets and about $175.4 billion in total deposits. At the time of closing, the amount of deposits in excess of the insurance limits was undetermined. The amount of uninsured deposits will be determined once the FDIC obtains additional information from the bank and customers.
I started playing around with the youtube api to find just that. They only give you so many free search credits so you have to be careful with which calls you make. And in what order. I found the best way is to search for keywords like:

https://github.com/andrewarrow/many-possible-worlds/blob/mai...

then call get channel from the channel_id returned in the search:

https://github.com/andrewarrow/many-possible-worlds/blob/mai...
Some days it does seem like crypto currencies are speed running the development of financial regulations by discovering the reasons those regulations were created. But this one just sounds foolish of its own accord.
My digital signage screen that I use as a monitor with an official 18/7 uptime rating has explicit temporary burn in/ghosting issues mentioned for content that is too static/persistent, and says it'll go away after a bit of rest time/waiting for the LCD to normalize.
It even has an anti-burn-in mode that steps the image around+-4 pixels in both directions every few minutes to prevent any hard contrast lines from persisting and their ghosting to be notable to the customers of the facility that operates the digital signage.
Seems like programmers like the terminal aesthetic.

The only real improvement is speed at the cost of memorizing a new key stroke interface for every app. Every other aspect of terminal interfaces is a downgrade. The cost of memorization is also a huge burden

I feel there's got to be a better way that gets the best of both worlds.
A lot of stuff, even stuff that is sold as “journalism” is just re-packaged opinions. The writing that has flourished on the internet is stuff they can be produced cheaply (for example without going anywhere to do journalism). Or it is stuff that nobody would pay for, but if you stick it up with some ads, it’ll absorb some eyeballs. Or it is something that essentially benefits the author; pushing a particular opinion, trying to build a brand. All of this stuff serves to convince the user that paying for internet content would be foolish.

It might be possible to build an internet that is worth paying for, but it will be a massive bootstrapping project.
That is not correct.

Yes, the bank could hold the bonds to maturity to get $100 back in 10 years. But that $100 dollars in the future is worth much less than having $100 now.

SVB depends on earning net positive amounts on their interest income to continue operating. Turning $100 into $100 10 years later is the same as turning $100 into $90 now (illustrative numbers. The issue is of course varying interest rates).
It's quite amusing what this is the second time this week when I recommend 'Exhalation' by Ted Chiang.

[0] https://archive.org/details/ExhalationByTedChiang

[0] https://www.lightspeedmagazine.com/fiction/exhalation/
If you're volunteering to give or invest a few billion into the SVB receivership deal, then go right ahead.

Please leave me and my tax dollars out of it. I'm not just hard-hearted, BTW. Unlimited depositor insurance is an awful idea.
Sure you do, banks fail and you shouldn't expect more than $250,000 of coverage.
We need to know who and how much the big fish are exposed.

Bailing out the Peter Thiel’s of the world is not something that should be swept under the rug.
> Is $250k a fixed limit for insured deposits? If your company needs more than $250k to meet a month of payroll, is it advised that you have accounts in multiple banks so that you have the necessary liquidity guaranteed as insured deposits? (E.g. if you need a million you'd need 4 different banks, if you need 5 million you need 20 different banks?)

That is an option, yes. You can also automate it through a couple different ways. Some are third party brokers who then deposits it across multiple institutions keeping each balance below $250k, others are banks that have agreements between each other to share deposits such that the deposit at each institution is below the limit.

For an example of the latter, https://www.intrafinetworkdeposits.com/find-intrafi-network-...

> Or can you pay some extra insurance in order to get the required protection without the operational hassle of having to deal with multiple banks?

The above deals with the operational hassle but you can also directly insure deposits.

The most direct way is the Depositors Insurance Fund, which is run out of Massachusetts and has some participating banks.

Incidentally, really large companies like GM or Toyota, fund their payroll through the commercial paper market. As a result they don’t have the large balances you’re imagining sitting around in bank accounts for a monthly withdrawal.

These sorts of notes actually occupy a fun place in the history of the development of currency, but that’s off topic.