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i start a new job at a startup on monday. the corporate card they've already issued me is from svb. thoughts and prayers pls
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Mar 11, 2023 20:02
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Beeftweeter posted:i don't think it's necessarily that they're risky assets, they just bought them in an unbelievably stupid way and did nothing to mitigate when interest rates went up it has really brought into focus that when people say that an asset is "risky" it's usually not interpreted to mean interest rate risk
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Mar 11, 2023 22:14
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mila kunis posted:pretending that this is being done to save the poor security guards at Disruptr rather than ensuring VCs don't have a bunch of their investments don't go to zero overnight is some next level shamelessness. or, it’s being done to protect general confidence in banking period, which is very much in the interest of both of those groups
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Mar 13, 2023 13:39
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mila kunis posted:Given that this is obviously not going to happen, what does that say about who holds power here and why dismissing the idea that this is just rich people being made whole for free is loving stupid? That this isn't something to be angry about? in whose interest is nationalizing disruptr, exactly? nobody in the world wants the government to own that. (do you?) and that's not even getting to MononcQc posted:lol @ nationalizing a company for giving them the money they deposited and that should have been theirs if the banks weren't run by morons who kept arguing in favor of deregulation and then getting it.
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Mar 13, 2023 14:52
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mila kunis posted:i would love most companies in the economy to be state owned (if not state run) but even leaving that aside, the government should still get that equity and sell it off if they don't want to keep it so that the investors in these companies don't get made whole for nothing i genuinely don't understand your ideal model of depository banking. if i deposit money in a bank, and that bank fails, the government takes some of my other stuff and sells it to someone else, keeping the cash?
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Mar 13, 2023 15:31
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mila kunis posted:if those businesses should absolutely be saved by a bailout then they should give up equity in return, yes. yeah this is what i mean by not understanding what you want in a depository banking system. they're fundamentally built on trust, and that can't exist if whenever your bank fails the government gets your poo poo.
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Mar 13, 2023 15:54
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mila kunis posted:i believe what happens in a depository banking system is that you get the money back that you held in an insured account, for the value that that insurance covers. you keep saying "for nothing" like that's not the way that depository banking is expected and relied upon to work. when i deposit money in a bank, i expect to be able to get it back "for nothing," because it's a bank. the $250k insurance limit is just kind of an arbitrary one, it's not magic or special. would you support raising the insurance limit to ten billion dollars? because that would cause the same outcome for depositors.
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Mar 13, 2023 16:04
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mila kunis posted:if i deposit money in an uninsured account in FartBank, I do not get money back. If I deposit money above the insured value in an account in FartBank, I do not get money back above the insured value. They are getting preferential treatment that I would not get. They are absolutely getting it "for nothing". yes...you would? that's the whole point? if you, right now, had money over the fdic limit at some random bank, and that random bank were at risk of failure because of interest rate risk on its long-term bond holdings, then that random bank would use the new fed borrowing mechanism to avoid insolvency, and you'd be able to withdraw your entire account. that's why they're doing this, so that you - a random depositor who hasn't bothered to audit the bank you chose - don't have to worry about your money vanishing because of something you have no knowledge of or control over. i agree that they're getting it "for nothing." i'm saying that that's the point. that's how banks are supposed to work, for everybody. mila kunis posted:isn't FDIC insurance covered by premiums? presumably those premiums would skyrocket if the insured amount limit went to 10 billion dollars? and now i get to ask my real question: why do you think fdic insurance exists? raminasi fucked around with this message at 16:41 on Mar 13, 2023 |
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Mar 13, 2023 16:31
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how much trading volume on any given day is hedge fund robots anyway
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Mar 13, 2023 16:44
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Beeftweeter posted:the former head of SVB lobbied for and received weakened regulations. i don't know the details of what changed well enough to make a judgement on whether or not it would have prevented its collapse, but it seems likely. it also seems like federal regulations for most mid-sized banks (which are actually systemically important) were defanged to the point that you now have state regulators (i.e. in new york re: signature) stepping in to do the needful instead i think ca regulators put svb into receivership, but my interpretation was just that all banks are chartered at the state level so that's just how it works
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Mar 13, 2023 17:18
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Beeftweeter posted:i think that was the fdic, SVB is now owned by them no i mean that ca authorities actually did the thing. (the fdic is the receiver, but it was appointed by ca.) see here https://www.fdic.gov/resources/reso...ted%20Receiver.
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Mar 13, 2023 17:22
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mila kunis posted:ii repeat: if i deposit money in an uninsured account in FartBank, I do not get money back. If I deposit money above the insured value in an account in FartBank, I do not get money back above the insured value. They are getting preferential treatment that I would not get. They are absolutely getting it "for nothing". this new insolvency scheme was brought out now and specifically once it looked like connected vc assholes would take a beating. do you have an answer to the following question: if you, yosposter mila kunis, had uninsured deposits at svb or signature, then you, yosposter mila kunis, would be protected by the same insurance extension that all the actual uninsured depositors of those banks are currently under. if you have uninsured deposits at any other bank, then your uninsured deposits there are now equally protected as any other uninsured deposits at those banks. you are not being treated any differently than anyone else. mila kunis posted:why was FDIC insurance capped at 250k do you think? because the thinking before today was that you prevented bank runs by reassuring a large number of people with relatively small account balances. as of today, that method is considered insufficient, but the ultimate goal - preventing bank runs by creating a source of confidence - has not. fdic insurance protects the little guy but it's a means to an end. mila kunis posted:yeah for sure i don't have a problem with the companies being given money if the intent is to save people's jobs, just take equity from investors and founders in return. the money they are being "given" is their own money.
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Mar 13, 2023 23:32
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PIZZA.BAT posted:lol yellen just emphasized that your deposits being insured by fdic will depend entirely and arbitrarily on whether the fdic board considers your bank a systemic risk what should she do instead? if she says "everyone's insured" then bankers will do even more coke and gamble even more with depositor money. if she says "only these specific banks are insured" then it will trigger runs on all the other ones. "you might or might not be insured, if you don't wanna find out then don't gently caress around" doesn't seem like the worst middle ground.
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Mar 17, 2023 14:26
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Beeftweeter posted:took a minute to track down in the cspam thread that's the bridge bank created by the fdic as part of the receivership process. so the fdic is directly responsible for that specific language because a) it's true and b) depositor confidence makes it easier for the fdic to not own the bank anymore
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Mar 17, 2023 14:57
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AlbertFlasher posted:they also want to drive up deposits so when they sell the bank off it's worth more it's not "also," this is the point. the fdic doesn't want to own the bank because long-term bank ownership isn't their job, and the more depositor money it has the more attractive it is to buyers.
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Mar 17, 2023 15:27
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Beeftweeter posted:what does that matter to the bank as an institution? they don't need the shareholders now, and the people working there are actually making 1.5x what they were what's "the institution" to you? executive leadership turned over. the logo? the workers?
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Mar 17, 2023 15:33
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Beeftweeter posted:...the bank as a business? yes, they are now under receivership, but removing the ceo is no guarantee that their actual practices will change. afaik the rest of the c-suite remains the same if your problem is that the c-suite isn't being sufficiently punished, then how does screwing over uninsured depositors help? you think they don't care about shareholders, what makes you think they care about uninsured depositors?
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Mar 17, 2023 15:49
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Beeftweeter posted:i am not saying they should screw over uninsured depositors then what are you objecting to? Beeftweeter posted:that doesn't matter. they are saying "everyone who deposits at SVB is fully insured up to any amount, which you will not get at another bank" "consequences" here is the potential for normally uninsured depositors to lose their money, and you seem to take issue with preventing that raminasi fucked around with this message at 17:26 on Mar 17, 2023 |
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Mar 17, 2023 17:24
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pseudorandom name posted:the normal state of affairs was to attempt your search query on all of your favorite search engines and your list of favorite search engines changed week to week i remember metacrawler, the search engine that just searched on multiple other search engines for you
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Mar 19, 2023 15:53
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i wonder if he’s worried that popular awareness of real things that “look like ai” to regular people will make it clear to everyone that miri and the like have absolutely no connection to any research in the field
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Mar 30, 2023 14:46
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Shame Boy posted:product managers are fine if they do their job right because they make it so i don't have to talk to customers and that's great a good product manager is an incredible productivity multiplier and i have to assume that everyone who complains about the profession as a whole has never had the good fortune to work with one i hate that scene in office space
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Apr 7, 2023 16:16
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one time, already drunk, i ordered a truffle martini. it was disgusting but i was so drunk that after finishing it i proceeded to immediately order and drink a second one. i can't drink martinis anymore.
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Apr 12, 2023 21:03
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maybe this is atypical but neither i nor anyone i know has had worse experiences or outcomes with nps or even pas than mds so i really don’t mind the rising frequency of them. the lack of a residency-like requirement for them is lame though
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Apr 19, 2023 13:14
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mystes posted:nps seem to have plenty of practical knowledge and it feels like actual mds just google your symptoms nowadays anyway according to my np friend the first year or two out of school, before they get that practical knowledge, is real rough. apparently you get handed a diploma and then thrown in with patients on your own. good luck!
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Apr 19, 2023 13:54
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Shame Boy posted:all these guys are clearly using teh internet see i’d draw the exact opposite conclusion
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Apr 20, 2023 14:17
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the totality of his disconnection from the world is mind-boggling. what is the life of someone like that, with problems and aspirations so cartoonish and hollow? he doesn't even have the excuse of incredible wealth breaking his brain.
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May 1, 2023 15:44
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haveblue posted:isn't there an app for this by now it was called airpnp and it folded years ago
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May 2, 2023 05:43
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Shame Boy posted:it's not a constant amount decrease either, but also it's always round human-like numbers, so i assume a person is just sitting there going "hmm, nobody wants my lovely place for $3900, perhaps there will be a taker for $3650" and then a month later "well $3650 didn't work, perhaps $3450" etc. could be that one piece of software that a bunch of landlords use to calculate rental prices https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent
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May 3, 2023 18:49
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Shame Boy posted:but they couldn't though, cuz nothing rented at anywhere near those prices and they're almost back to semi-reasonable levels after ratcheting down since 2021 the software i linked attempts to maximize overall revenue, not occupancy, and its creator is on record complaining about landlords who charge less than they can get away with
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May 3, 2023 20:39
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Beeftweeter posted:every building i've lived in in nyc was managed by some bespoke LLC that was in turn controlled by a larger corporation that was d/b/a something else yeah me too
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May 4, 2023 00:19
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Shame Boy posted:do jobs even exist anymore that are not ~full stack~ because i hate working on frontends and worked hard to not have to do that at this last job i have had multiple “full stack” jobs in which i never touched a single javascript. ime the term means that the team you’re on owns a full-stack product but if the manager is good and you say “i don’t wanna do frontend” you won’t have to.
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May 5, 2023 17:17
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mystes posted:She's such a blatant sociopath my god why the gently caress does anyone listen to anything she says people listen to sociopaths all the time, it’s arguably characteristic of sociopathy
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May 7, 2023 22:38
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i won a poker tournament of my friend’s buddies once due to a combination of luck and inexperience-induced unpredictability, it was pretty funny. i just did whatever and by the time any individual one of them figured out i didn’t actually have some advanced strategy he’d lost his chips.
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May 15, 2023 18:36
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Expo70 posted:when they have pissing contests of facts to feel more manly and then a tiny girl chimes in with actual technical knowledge, they both look sheepish and say things like "yes, yes, of course" clearing their throats and looking awkwardly. are the dads actually doing anything to harm you or do you just like making them feel bad for fun
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May 20, 2023 14:44
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Expo70 posted:50% rear end in a top hat 50% daddy-issues, 100% gremlin you could just not do the rear end in a top hat thing. then you wouldn’t be an rear end in a top hat. that’s usually an option.
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May 21, 2023 15:38
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my shopping app desire is for something that will buzz my phone whenever i enter a bookstore and tell me which books on my goodreads "want to read" list are available in the store
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May 21, 2023 19:55
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Sagebrush posted:Was koalas march the abuser who said "you have to believe women, which means believe me," or were they the "I have created a fund for goons of color in need, and I am a goon of color in need of a gaming laptop, so I'm taking the money?" Or both? iirc the laptop money thing isn't as funny as is generally imagined because she did it with the full consent of everyone who donated to the fund
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May 23, 2023 21:13
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mediaphage posted:aren’t the big ones supposed to have been rejiggered to be earthquake…resistant by this point or something? that’s what sf people always yell about on twitter if i’m reading the article correctly the point is that many such buildings have not been so rejiggered and the city is trying to figure out the best way to inform people and/or enforce retrofits
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May 24, 2023 02:26
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post hole digger posted:do college radio stations still exist, i used to listen to ucsb's and sjsu's a lot yeah but a lot of them are internet streaming only. not the cool ones like kalx though. nothing beats driving around west berkeley at two in the morning listening to whale sounds or whatever
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May 25, 2023 20:38
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Luigi Thirty posted:there is literally documentation of this in there somewhere that’s the funniest part of it to me
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May 27, 2023 15:07
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