rexreed

23 ms·

241.
by rexreed 4y ago
How has the startup world devolved to the point that it's primarily about financial movements and shenanigans and not related to technology innovation? I feel we're so far past where technology innovation has come from, and now we
242.
by rexreed 4y ago
What is this post? Someone who can casually raise $300M in a weekend? Gets rescued by a government bailout and then said the whole experience is fun? Talks about trading deposits and making loans against them, asking startups to take a hair
243.
by rexreed 4y ago
They are firing 10k people they have already hired, and not hiring for 5k roles where they haven't yet hired. So 10k are leaving, and the planned 5k they were going to add will not add. This means they are losing 10k.
244.
by rexreed 4y ago
I'm fairly certain that's how a bank run operates, and what we have here is a bank run. Each individual person who withdraws isn't to blame, but it's the collective actions that cause the problem. In fact, all that is ne
245.
by rexreed 4y ago
You might not be familiar with this key component of the SVB collapse story: https://www.msn.com/en-us/money/other/svb-collaps-peter-thie... It does seem that VCs are not just a convenient scapegoat, but a bi
246.
by rexreed 4y ago
Let me acquaint you with Peter Thiel, a libertarian VC: https://www.wired.com/story/the-libertarian-logic-of-peter-t... And lest you think he's the only libertarian VC: https://www.newstatesman.com&#x2F
247.
by rexreed 4y ago
They also dramatically and unilaterally devalued their rewards: https://news.ycombinator.com/item?id=35121124 as well as had a big layoff round: https://techcrunch.com/2022/10/11/fintech-brex-
248.
by rexreed 4y ago
Personally, I'd stay with a "boring" bank for at least one account. You can always open more than one account. Don't put all your eggs in one basket. Brex sure, but they could be a flash in the pan. Have "boring&quo
249.
by rexreed 4y ago
Always have a backup. I have 2 corporate bank accounts (at least). Neither of them are SVB. Chase is solid. Avoid shiny objects. Startups have enough risk in their daily existence, the last thing you need is to introduce unnecessary risk. B
250.
by rexreed 4y ago
I was also surprised to see the dramatic drop in this post's HN ranking. I can't believe it's organic, but maybe it is. I agree a 2001 article on a Tiny C compiler probably has as lot less impact to the general HN readership
251.
by rexreed 4y ago
Too many areas: * Executive-level hiring. How many startup founders bring entire crews of executives that are recommended by VCs. Those transplanted execs then bring in their own "crew", and proceed to not only change the culture,
252.
by rexreed 4y ago
Maybe startups shouldn't blindly follow Silicon Valley recommendations and make their own decisions on operational matters like who they hire, where they bank, and what systems they use. There's too much groupthink and cult-follow
253.
by rexreed 4y ago
Is this from personal experience? I can tell you a lot of East Coast, Southern US, non-Silicon Valley and non-US Startups have no problems finding banking partners outside of SVB. The adage that only SVB knows how to bank startups hasn&#x27
254.
by rexreed 4y ago
Much of the Silicon Valley ecosystem are these sort of tight loops: VCs / law firms / banks / accounting firms / HR firms / marketing agencies / senior management / key hires / etc. It's a tight
255.
by rexreed 4y ago
I wonder how many startups would have predicted "bank failure" as their root cause of failure. The problem is not the fragility of each individual startup, which everyone knows. The real issue is that one singular bank failure c
256.
by rexreed 4y ago
I know this is (was) downvoted a lot, but I understand this sentiment. If you read the comments above, it's a "sky is falling" situation for many startups in the Silicon Valley sphere of influence. How is it that the silicon
257.
by rexreed 4y ago
Go figure, one singular bank failure could wipe out so many startups. Pretty remarkable how fragile the ecosystem is if that's all it takes.
258.
by rexreed 4y ago
A rational person would indeed ask that. Is that what we're dealing with tho?
259.
by rexreed 4y ago
The over-confidence in clearly irrational positions, the bluster and bluffing and bullying are all coping mechanisms for what their brains detect as cognitive dissonance. "How can my life be so bad, dreary, miserable, and inadequate?&q
260.
by rexreed 4y ago
awesome - thanks - going to pull this together!
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by rexreed 4y ago
I found this one: https://www.instructables.com/PCB-Business-Card-With-NFC/ Looks closer to yours? Not sure how you did the 24k gold part tho ;)
262.
by rexreed 4y ago
I'd love to make that as well or find a source for it. Curious as to costs to manufacture and ease of reproducibility. Any tips / pointers / guides?
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by rexreed 4y ago
Is it for a mailing list or for a website archive? You can self-host a listserv on many shared hosting sites for pennies.
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by rexreed 4y ago
VCs, who on the whole underperform the market and fail to provide returns to their limited partners and investors, seem to think that as a group that have the best insight and feedback in the industry. Singularly, they believe they are the
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by rexreed 4y ago
Employees should fight for something that is of value to them, not their employers. Maybe there's a fear of losing their job when they aren't seen in the office? Or maybe the fear is if that they are the only ones in the office, t
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by rexreed 4y ago
I'm waiting for the enraged article that talks about how bad a language Python really is.
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by rexreed 4y ago
NYC definitely has urban density and good public transport, but it's much bigger than Boston, and more car-friendly than Boston.
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by rexreed 4y ago
The closest you'll get to that European-style city in the US is Boston. It's very walkable, high density public transport, and quite a bit of charm in my opinion. Also cars are clearly an after-thought in Boston proper.
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Ask HN: Looking to build a kiosk for event self-ticketing. Pointers?
1 points by rexreed 4y ago|0 comments
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Ozy Founder Arrested on Securities Fraud – COO Impersonates YouTube Exec(cbsnews.com)
13 points by rexreed 4y ago|0 comments

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