pbourke

11 ms·

61.
by pbourke 4y ago
Yes, that is the letter of the law. The intent, given that the FDIC emerged from the Great Depression, is to prevent bank runs. Most banks with a large retail deposit base are immune from bank runs. SVB is unique in that it didn’t have a la
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by pbourke 4y ago
Would you suggest that every small business in the US with working capital over the FDIC limits do something like this? It would be a massive waste of resources. FDIC insurance exists to stabilize this part of the financial system.
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by pbourke 4y ago
If your strategy is keeping money in an FDIC insured bank account the government will absolutely bail you out. You have a guaranteed bail out up to the deposit insurance limits and a high-probability bailout for close to 100% of your funds
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by pbourke 4y ago
Perhaps it’s an anti-SV backlash? Seems misguided as a lot of the places that you’ll want to work at 5-10 years from now are probably depositors at SVB. I think we all have an interest in a trustworthy financial system so rooting for deposi
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by pbourke 4y ago
Hmm, maybe that 8-K they filed yesterday was a tad optimistic https://news.ycombinator.com/item?id=35104326
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by pbourke 4y ago
National retail banks are not going to fail. This was a pretty unique circumstance: deposit base had tripled in 3 years, serious failure in risk management, most deposits from business customers well above the deposit insurance limits.
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by pbourke 4y ago
How golden is my parachute in this scenario?
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by pbourke 4y ago
I was trying to find out more about this. The reserve ratio was replaced by an “ample reserves” policy, wherein the Federal Reserve pays an increased interest rate on reserves (a slight discount from the federal funds rate). I wonder how th
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by pbourke 4y ago
A failure in “First Community Bank of Left Buttcheek, GA” is not the same as the failure of a $200B institution.
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by pbourke 4y ago
It’s also the second largest U.S. bank failure. WaMu was considerably larger when adjusted for inflation - $300B in 2008 dollars (> $400B in 2023) vs SVB at $200B in 2023 dollars.
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by pbourke 4y ago
Creating a new venv, installing a few needed libraries that you know the names of with a simple command and writing a quick low-ceremony script that uses those libraries is frictionless in Python. Doing that repeatedly in nearly every other
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by pbourke 4y ago
I’ve done the same but moved from vanilla numpy to numba. The code mostly stayed the same and it took a couple hours vs however long a port to C or Rust would have taken.
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by pbourke 4y ago
# pip install faiss-cpu sentence-transformers from sentence_transformers import SentenceTransformer import faiss # replace with own texts - this is a bad example since it contains only single words with open("/usr&
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by pbourke 4y ago
> My script read through each of the products we had responses for, called OpenAI's embedding api and loaded it into Pinecone - with a reference to the Supabase response entry. OpenAI and the Pinecone database are not really needed
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by pbourke 4y ago
What do you mean by “function independently?” Why do you immediately separate eduction by wealth? I suspect you mean that the purpose of eduction is to ensure that an individual can be gainfully employed and not be a burden on the state. On
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by pbourke 4y ago
That doesn’t mean “never optimize”
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by pbourke 4y ago
What if nearly everyone is a bad actor?
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by pbourke 4y ago
> The promise of cryptographic currency was that we have the power. As usual, we don’t. The question is, do you want the power to be in a condo in the Bahamas or in a building with the company’s logo on it, within walking distance of the
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by pbourke 4y ago
this is some kind of rare triple word score double-reverse irony. I love it.
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by pbourke 4y ago
Today’s car is safer, more fuel efficient and more capable as well.
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by pbourke 4y ago
I wish more people would ask simple questions with the expectation of getting a complicated answer. Usually it’s more along the lines of “for my own understanding, why can’t we just ship things as they’re ready instead of waiting for everyt
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by pbourke 4y ago
> I finally stopped reading them after their highly biased coverage and openly stated support of the Canadian alt-right occupation of our capital. It certainly seems like you wouldn't have any bias when discussing this topic as well
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by pbourke 4y ago
Another formulation is that technology augments the impact that a single individual can have. The productivity gains allowed by silicon are the greatest single economic advance in human history. Businesses become increasingly more productiv
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by pbourke 4y ago
See how many will give the check up willingly and you’ll figure out how valuable it is to them. I’ve seen a lot of “hey you just got your spurs” back slapping when someone gets a check.
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by pbourke 4y ago
> Employer gifts (other than de minimis amounts) are taxable compensation. This was a coaster - hard to get more minimis than that.
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by pbourke 4y ago
I’ve done wood and vinyl plank flooring in a single room as a not particularly handy homeowner. It’s a lot of work but not really difficult.
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by pbourke 4y ago
This site is called Hacker News. This is an exemplary application of the hacker ethos - to apply skill and insight to make a digital system better for some group who is being underserved, without all-encompassing regard for the desires of t
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by pbourke 4y ago
> The study results are "colonoscopies do not lead to a reduction in colon cancer mortality". Reporting that isn't misleading that's what the study says. The measured intervention was not the colonoscopy, it was the i
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by pbourke 4y ago
In this case they are examining colon cancer and deaths from it, and the colonoscopy is a diagnostic test for colon cancer. I feel that the results are being presented to the public in a very misleading way. People will read this headline a
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by pbourke 4y ago
> I find it a little odd that the assumption is that single family homes are somehow always superior. “Superior” is a value judgement. I think “preferred” is closer to the mark. People like single-family homes and they go to great length

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