zamnos

75 ms·

961.
by zamnos 4y ago
I might be misunderstanding what you wrote, but in the US, Wealthfront Cash is offering 4% APY, which is a bit higher than 3.3.
962.
by zamnos 4y ago
With the US Inflation Rate at 6.41%, 4% is you losing money.
963.
by zamnos 4y ago
Peter Schiff
964.
by zamnos 4y ago
Prisoner's dilemma doesn't have a part where they take all the prisoners from the Silicon Valley Jail and move them to the First Republic jail with a bunch of other prisoners and ask them the same question, do they?
965.
by zamnos 4y ago
Confusingly, the two banks you named are JP Morgan Chase, and Morgan Stanley. JP Morgan Chase is the biggest bank there is, but Morgan Stanley is far smaller (but still ginormious) and doesn't rank in the top 10 banks. The top 3 banks
966.
by zamnos 4y ago
If you have significantly more than $250k, you should keep it in a sweep account, which spreads it across banks for you. https://accountopening.fidelity.com/ftgw/aong/aongapp/fdicBa...
967.
by zamnos 4y ago
I don't want it to be lost on others so I'll explain it (this kills the joke, unfortunately), ndesaulniers is the author of the linked article.
968.
by zamnos 4y ago
Don't put words in my mouth! What I wrote was "it's in everyone's interest that people keep keeping their money in a bank". Which is different.
969.
by zamnos 4y ago
> now it's just a tool, like many in my toolbag Right it's just a tool, one which doesn't get much daily use by you. Which is totally fine. But say your job was to hammer in nails all day long, would you ask about the use
970.
by zamnos 4y ago
I didn't downvote (because I can't, since I'm the poster you're replying to), but I'm willing to point out what stuck out to me since you asked. You wrote: > I'm shocked actually this is how naive people are
971.
by zamnos 4y ago
Yeah, but have you read "Down and Out in the Magic Kingdom"?
972.
by zamnos 4y ago
$250k will be in every account Monday morning, agreed on that. It's everything above $250k, which is substantial, and which companies need, that will take a while to sort out. It's true that everything above $250k isn't cov
973.
by zamnos 4y ago
Blizzard trying to push renting software on us doesn't change what was legally allowed, and Diablo II and Warcraft III were after the Internet came around. Now, if you bought Warcraft I, which didn't have Battle.net support, you o
974.
by zamnos 4y ago
Not just bullet points, but tone and professionalism too. ChatGPT will translate "fuck you, pay me" to "Please provide payment as soon as possible." Now, in the future, after the Zoomers take over, it's entirely pos
975.
by zamnos 4y ago
Unsecured creditors also includes anyone holding their stock, so if you held any shares of SIVB before today, you're sitting on a big fat goose egg.
976.
by zamnos 4y ago
This is the Wells Fargo that got in trouble for creating 2.1 million fake accounts for customers who never asked for them, got caught by the CFPB, paid $185 million in fines, and has been desperate for customers ever since? Yeah, actually,
977.
by zamnos 4y ago
tinygrad by geohot, also linked on this thread, has similar properties good for learning - it's a couple hundred LoC to integrate LLaMA support https://github.com/geohot/tinygrad/tree/llama
978.
by zamnos 4y ago
Totally. Working in a bank exposes you to the fun parts of running a bank, without the stress of it being your bank.
979.
by zamnos 4y ago
You're right that FDIC doesn't have to, but it's in everyone's interest that people keep keeping their money in a bank, so the long and the short of it is that the FDIC's playbook is to find another bank to buy SV
980.
by zamnos 4y ago
At least you're able to acknowledge your mistakes. For your employee's sakes, I hope you're able to make next payroll.
981.
by zamnos 4y ago
SVB's failure means that anything over $250k that a startup had there is not currently accessible. They'll probably be made whole in a couple of months by FDIC, but payroll, along with rent and the cloud bill won't wait and c
982.
by zamnos 4y ago
So to answer bradleyjg's question, you're saying $230k. Which is $100k less than the total Google compensation of $330k.
983.
by zamnos 4y ago
Hell yeah I'm using a ton of Oxy at work! Hey why are you all looking at me like that?
984.
by zamnos 4y ago
The term for that is Chesterton's Fence: https://en.wikipedia.org/wiki/Wikipedia:Chesterton%27s_fence
985.
by zamnos 4y ago
Asking them to name the bank is a bit of a weird one, only because the answer can't be SVB anymore, and I'm not sure what OP would do with that information. (So it's FRB, then what? Unless you have inside info that they'
986.
by zamnos 4y ago
What's more likely being lost in translation is that they have an insured cash sweep account and explained how that works, and who exactly is creating the 30 bank accounts is what's being misunderstood in this game of telephone.
987.
by zamnos 4y ago
If that's of interest to you, you might also want to look up "FDIC sweep" or "insured cash sweep". Basically your bank makes accounts at other banks, and each sub-account only has up to $250k in it, so you're t
988.
by zamnos 4y ago
Eventually , sure, but we don't really know where. And neither does the Fed, though I'm sure they have ideas on how far they want to go. They don't control the jobs report though. Rates are 5% now, so a spread of 3.5%. If
989.
by zamnos 4y ago
From your link https://www.sipc.org/news-and-media/news-releases/20220928 : > Distributions to unsecured general creditors with allowed claims totaled over $9.372 billion, representing a 41.2841 percent recovery
990.
by zamnos 4y ago
That's a bit like saying having a door with a lock on your house is a conspiracy to get you to spend money with the door and lock industry. If you squint real hard that kinda sorta looks true, but it ignores the very real protection ha

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