dahdum

11 ms·

121.
by dahdum 4y ago
> "I'm concerned you're ... encouraging anyone who has a large deposit at a community bank to say, 'we're not going to make you whole, but if you go to one of our preferred banks, we will make you whole.'&qu
122.
by dahdum 4y ago
To prove you can run a marketplace with lower commissions since the Epic Store was shown to be running at a loss, which hurt their case against Apple. Or so I’ve read.
123.
by dahdum 4y ago
> If a company doesn't want to meet the union's expectations for the wages and benefits of their members, it can simply fire all the union members or wait for them to strike and hire their replacements. Not agreeing with OP, bu
124.
by dahdum 4y ago
I believe you may be incorrect, the fraction is not the problem [1]. Apollo also ran with pure O2, even after an early accident under higher pressure [2]. > In such applications as extra-vehicular activity, high-fraction oxygen is non-to
125.
by dahdum 4y ago
> The alcohol being served on the flight should scare you more than the MCAS. The coffee/water/ice scare me more than either of those. A former FA family member told me longer term employees wouldn’t dare touch the stuff.
126.
by dahdum 4y ago
They are building a per-user recurring revenue stream along with very strong lock-in features (embedded communications, limited/paid extensions). They won't need lot of traction if they're able to boil the early adopter and e
127.
by dahdum 4y ago
> They are not a good measure of intelligence. They measure how well you can take a test. The tests aren't trying to measure intelligence, but rather whether you've learned the material.
128.
by dahdum 4y ago
They ship cars with steering wheels that fall off, this is pretty tame in comparison.
129.
by dahdum 4y ago
Not every open source project wants to deal with donations / payments that could force incorporation, tax filings, bank accounts, credit/debit cards, and other paperwork. I certainly wouldn't want to deal with that for a side
130.
by dahdum 4y ago
They had over $80 billion of MBS as HTM. > SVB’s mistake was investing in longer-term mortgage securities with more than 10 years to maturity, rather than shorter-maturity Treasuries or mortgage issues maturing in less than five years. T
131.
by dahdum 4y ago
Of course they'll want to blame anything other than the stupidly high risk strategies that got them there. SVB had the highest compensation in the industry for 2018, and averaged ~$293k/employee last year while hitting top scores
132.
by dahdum 4y ago
I’d like to agree, and I do in principle, but isn’t the CFO role kind of important for an investment bank? Like, maybe there should be some culpability considering Lehman’s shenanigans didn’t suddenly start when he left. The house of card
133.
by dahdum 4y ago
SVB blew up chasing yield with risky assets to juice corporate profits. I haven’t seen people calling it an exit scam, just terrible governance. Not entirely unlike FTX. Not sure why anyone who withdrew should be subject to clawbacks. Wha
134.
by dahdum 4y ago
I believe FDIC can sell SVB or equity to another bank once it stabilizes (with their help). With the current executive team gone and some adult supervision, it could return to being a valuable company. SVB doesn’t have to die just because t
135.
by dahdum 4y ago
Despite the attempt it’s going to be called a bailout by the public and press even if the FDIC turns a profit down the road.
136.
by dahdum 4y ago
IIUC, they were technically insolvent and desperately trying for an equity raise first, then people took out their money.
137.
by dahdum 4y ago
I can’t see how anyone could seriously blame her for any of this, I don’t think the poster intended to imply that. This is pretty amusing in retrospect though. The last chapter is definitely an important one! > I am excited to lead SVB’
138.
by dahdum 4y ago
Didn’t SVB directly cause the bank run that killed them though? It wasn’t some externally driven event outside the scope of risk management. The assets were fine but the high duration was the risk. They took it purposely and lost billions
139.
by dahdum 4y ago
It’s overblown but pretty relevant news. SVB is the cause, and there could be more before it blows over. 1-2 business day delay for highly paid salaried workers usually isn’t a big deal but it can really turn the screws on lower paid hourly
140.
by dahdum 4y ago
I suppose you’re right, there’s nothing they could have done differently. They were forced to offer just about the highest, unsustainable, yield rates and otherwise attract and hold unmanageable amounts of capital. No other choice! Inflatio
141.
by dahdum 4y ago
They were insolvent before the bank run, that's why they needed the firesale and emergency equity raise to stay afloat. If they were able (allowed) to hide that fact and get the money quietly elsewhere, we may never have known. Or perh
142.
by dahdum 4y ago
You aren't gambling on the startup if the collateral is the receivership certificate / advance dividend. Those should be quick to verify. Any loans up to $250k would be even easier.
143.
by dahdum 4y ago
They could have stopped offering the very high savings yields that attracted that capital, but profits and exec comp would have dipped. So...this instead.
144.
by dahdum 4y ago
The execs have been pulling $3-10M/yr compensation and will walk away wealthy, legally in the clear, and probably into similar roles and comp elsewhere (or simply retired). They aren't bumbling idiots, though if they were, they&#x
145.
by dahdum 4y ago
> The thing that broke down is they had to announce true things that made investors conclude that their money wouldn't grow as fast as investors expected, and investors (understandably / justifiably) wanted to pull it out to so
146.
by dahdum 4y ago
Wasn't their balance sheet before the panic what caused the panic? It wasn't some WSB meme that drove the bank run, they couldn't cover their normal day to day operations and started a bond fire sale and desperate equity ra
147.
by dahdum 4y ago
They chose to buy the much riskier bonds to support their very high 4.5% savings yield.
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by dahdum 4y ago
DFPI specifically called them insolvent and illiquid, took them over and handed them to the FDIC. I don't think they were all that healthy after all. https://dfpi.ca.gov/2023/03/10/california-financial-
149.
by dahdum 4y ago
DFPI specifically called them insolvent in their release today, does that change your opinion on depositors being made whole? https://dfpi.ca.gov/2023/03/10/california-financial-regulato...
150.
by dahdum 4y ago
> it has taken possession of Silicon Valley Bank, citing inadequate liquidity and insolvency. Does this settle the question of insolvency then? I didn't see that term in the other announcement.

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