borski

55 ms·

961.
by borski 4y ago
Here’s my big question: physical size of the pump. I have limited space for condensers outside due to the layout of the home, and the reason I haven’t put in a heat pump is due to none being physically sized small enough to replace our ACs
962.
by borski 4y ago
Plenty of banks sell equity. General Atlantic had already agreed to purchase 500M of it, and it was the largest investor in First Republic as well.
963.
by borski 4y ago
Not anymore. Very few maintain this, JPM being the notable exception. The only difference is that panic set in and there was a bank run, largely led by VCs telling startups to pull their money.
964.
by borski 4y ago
High duration, yes, but actually extremely low risk. The thing that killed SVB was the bank run. They would have been fine with the raise. Panic set in and killed them. FRB is not in a better position, but nobody is panicking, so they’ll su
965.
by borski 4y ago
No bank is healthy once all its depositors pull their cash out. What their balance sheet looked like before the panic is what I'm talking about. Every bank dies from a bank run, period.
966.
by borski 4y ago
You may not be wrong, lol
967.
by borski 4y ago
Every bank had this, especially during the last two years. They were not the only one. The difference was bad PR and a panic run.
968.
by borski 4y ago
Correct. They were doing the same thing every other bank was doing, and an unnecessary panic run did them in. Depositors will get their money back because my bet is SVB gets acquired, as their balance sheet was actually fairly healthy (rela
969.
by borski 4y ago
Early repayment of some percentage of the uninsured deposits, prior to full liquidation and/or acquisition. Depositors have first access to funds either way.
970.
by borski 4y ago
They 'understand' startups. That is, they were willing to work with founders of new ventures, didn't require insane proof of provenance of funds (because suddenly millions of dollars would appear overnight), and would support
971.
by borski 4y ago
> And any accounts over $250K, poof. That's not quite true; the FDIC will pay uninsured depositors an advance dividend within the next week.
972.
by borski 4y ago
What? This is literally how nearly all banks around the entire world work.
973.
by borski 4y ago
Loans are bets. You’re limiting bets to investments, but lending money is a bet that the person you lent it to will be able to pay it back; albeit a properly collateralized bet with solid underwriting, hopefully. But it’s certainly not a 10
974.
by borski 4y ago
Having worked with both major banks (BoA, Chase) and startup focused banks (SVB, First Republic, Square1) - you’re incorrect. BoA and Chase are great for personal capital, but for startups they are horrendous. Huge pains to convince them yo
975.
by borski 4y ago
Sure. That’s true of any financial instrument.
976.
by borski 4y ago
That there have been downturns is not an indicator that capitalism does not inherently work in the long term. There are always downturns, no matter the system.
977.
by borski 4y ago
Citation needed. Also, I’m all ears for a viable replacement that doesn’t devolve into autocracy or government-endorsed corruption, and still allows for taking risk and forward progress.
978.
by borski 4y ago
Loans are what drive the economy. I’ve used loans for cars and my home, as have most people in the country. Many people make decisions based on income, and not on cash they already have, as few people have massive accumulated cash wealth. L
979.
by borski 4y ago
This is literally the definition of fractional reserve banking, used by almost every bank worldwide.
980.
by borski 4y ago
Essentially yes, but presumably one that’s safer than your home safe or under your pillow.
981.
by borski 4y ago
Entirely possible he shorted SVB.
982.
by borski 4y ago
Also investments aren’t insured by FDIC, but by SIPC.
983.
by borski 4y ago
This. Entire companies exist to help try and solve this problem for businesses.
984.
by borski 4y ago
So you never get anything delivered on a FedEx or ups truck? And you don’t receive mail?
985.
by borski 4y ago
weev and AT&T as well.
986.
by borski 4y ago
> Around the 30 second mark is a scene where the protaganist rat is waiting for a train to arrive at a packed platform. I recently had a sobering realisation while standing waiting at the platform for the Waterloo & City Line: this h
987.
by borski 4y ago
I’ve always had bad insomnia, and back in the days when Lyft was still mustaches and fist bumps and front seats, I was all in - I would work at/on my startup during the day, and when I couldn’t sleep for a few hours at night (genuinely
988.
by borski 4y ago
I mean, he did call them rats, which isn’t that far off.
989.
by borski 4y ago
Haha I forgot we called it grechka. Technically grechnevaya kasha, but colloquially called either grechka or kasha; my grandpa was obsessed with it lol, so we just always called it “ne vkusnaya kasha” aka “not tasty porridge” lol
990.
by borski 4y ago
> So why then would he choose to speculatively buy more crypto when he doesn't have to? Because he’s an investor, and some speculation is part of his job. Exploring the space (and even making money in it) does not mean one can’t be

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