O__________O

Mentioned in the article, Chart 7 from an FDIC report [1] is concerning, specifically that currently there are “unrealized losses on available–for–sale and held–to–maturity securities totaled $620 billion” — which appears to be not only a recent trend, but roughly 10x more than any point in recent history, including during 2008.

Is anyone able to provide more context and clarify how significant these losses are to the US banking system beyond what’s covered in the article?

[1] https://www.fdic.gov/news/speeches/2023/spfeb2823.html?ref=b...

_________________

EDIT: For the unfamiliar, OP article’s author is a notable user on HN:

https://news.ycombinator.com/user?id=patio11

Reality is there are rarely to the death true libertarians or authoritarians, only those who lacked the opportunity in the monument to change their positions when significant threats or opportunities are presented. The optimal degree of control in a system is based on context, both for the individual and the system itself. To think otherwise is just illogical and discards the complexity of the world for a theoretical utopia.

Anyone that believes to the death libertarian bros exist doesn’t understand the people they’re referring to — which to me is a larger issue than people behaving rationally.

There is no magic recipe for success and frequently people find success via luck, hacks, etc.

In my experience, telling passionate potential founders if they never try they’ll never succeed leads to dark patterns in more than a few situations; for example, currently aware of a founder that left a good job to throw money and time at a startup even he clearly explained himself is doomed to fail. Personally seen people treat startups like a gambling addictions, pipe dreams that are clearly not based on any objective observable reality, etc.

In fact, comment you replied to referred to FedEx founder story of them gambling in Vegas to save the company with the last of the company’s funds. This is not the type of healthy, level headed, culture the startup community needs.

Human training data still currently holds a place of use, but it’s extremely time consuming to produce and frequently full of errors. Long term, future consumers and producers of information statistically speaking by volume will be AIs, not humans.

My guess PG knows this, but for whatever reasons is saying otherwise — given it’s pretty obvious; even currently, my guess is machine learning algorithms already easily consume and produce more information than humans. Yes, currently one might argue the ML is the result of humans producing it, but only matter of time before the code writes the specs that write the code that collects the data that get converted into information that’s used to repeat the process based on an objective it defines and independently evaluates.

Honestly not sure why PG is even thing on HN anymore given he rarely comments on HN, or if he does, it’s under pseudonyms:

https://news.ycombinator.com/threads?id=pg

To answer my own question, yes, not only would PIR on Tor Onion Service enable anonymous access of data via an anonymous connection, but there other possible uses of PIR for Tor. Notable example being "PIR Tor" — which is a Tor architecture that would change Tor from being P2P to client-server:

https://www.usenix.org/conference/usenix-security-11/pir-tor...

While likely expensive, when I looked around awhile back, Trail of Bits [1] to me seemed to produce the best audits for cryptographic systems, though possible there are better/cheaper options.

[1] https://www.trailofbits.com/

Seems like combining this with Tor onion service would be a natural fit putting aside potential legal or ethical issues. Any thoughts on the topic?

> The SDK has not yet been security reviewed, and the public Blyss service is still in beta.

Currently, what are your plans related to security audit both in terms of structuring it and context to you it would make sense?

Here’s OpenAI’s page:

https://openai.com/customer-stories/be-my-eyes

Over years, I have met a lot of founders, many of whom shared challenges they personally faced, many of whom it was heartbreaking knowing there was little to be done to help them.

On same note, having seen similar YC batch and alumni situations play out on HN before, I hope it’s obvious that YC is neither qualified to sort out mental health challenges founders face, nor should they attempt to do so in my opinion. YC to my knowledge doesn’t place limits on the use of its investments in founders —and if a founder felt they needed to step back, pause, or use a fraction of the funds to get professional help, I would be very surprised if the group partners were not supportive of that. Further, given the sensitivity of the topic, I personally don’t feel YC officially commenting would help anyone, and very possible might even be a breach of law depending of the specifics of the situation.

For anyone passionate about startups, as former YC founder & former YC partner Daniel Gross said in a startup school presentation, your health is critical to winning at startups:

https://youtube.com/watch?v=LH1bewTg-P4

For anyone curious about Agora, their Wefunder page has a lot of information:

https://wefunder.com/agora

As context, OpenAI has partnered with the company Be My Eyes to help train OpenAI’s image-to-text capabilities for GPT-4.

Agree, that makes sense — thanks for taking time to take share a guess.

Seems like “conducting legal due diligence on prospective portfolio companies” is also likely large aspect of YC’s legal department’s efforts; though I would think YC’s Continuity Fund would have been a much larger internal consumer of due diligence services than early stage fund; this based on recent YC job listing for a “Legal Analyst” position:

https://www.ycombinator.com/careers

https://archive.ph/2CitR

Token is 0.75 words on average per OpenAI; 32k in tokens would be roughly 24k in words.

https://help.openai.com/en/articles/4936856-what-are-tokens-...

It’s notable in the sense YC up until few years ago had two legal staff and YC had been around 15 or 16 years. There’s reason, just like there’s reason they are expanding their software development staff.

As recently as Feb 28, 2023 — Jessica’s bio still listed her as the only founder that had not retired:

https://web.archive.org/web/20230228013440/https://www.ycomb...

Yes, intro on the topic if anyone is interested, include topic of benchmarking degradation:

- https://huggingface.co/blog/hf-bitsandbytes-integration

Related comment from Garry:

- https://news.ycombinator.com/item?id=35143443

HN rarely comments on bans, though almost 60 submissions have been posted in past 30-days and every single one is dead.

Here’s a comment from dang, the only official HN mod, related to “hardwalled” submissions:

- https://news.ycombinator.com/item?id=35074950

Already linked to a source that shows the references to the programs are gone in my original comment; though that page is still there.

Also, might be wrong, but “theinformation.com” as a source is insta ban as a result of it being a “hard walled” content; hard walled meaning it’s not possible to access the content via alternative means. If you have a source that’s not blocked, feel free to provide it, otherwise just see this as promoting a source that’s ban on HN.

Here’s all the dead submissions, though you likely have to have “show dead” turned on from your profile settings:

https://news.ycombinator.com/from?site=theinformation.com

Not seeing anything related to the programs I referenced, am I missing something?

Does this also mean YC is killing off their YC Continuity Programs:

>> Series A Program: Help founders achieve the best possible outcome when raising a Series A via year-round workshops, fundraising guides and 1:1 support.

>> Post-A Program: Batches for YC startups immediately after their Series A to share best practices for growth: managing a board, building a team, key metrics for a Series B and more.

>> YC Growth Program: Graduate school for startups. We bring together cohorts of CEOs of rapidly growing YC companies to focus on the challenges of company building: the changing role of a CEO at scale, setting strategies and success metrics for the organization, hiring and managing great leaders, and more.

Source:

- https://web.archive.org/web/20220812233728/https://www.ycomb...

_____

EDIT: Related comment from Garry on the topic:

- https://news.ycombinator.com/item?id=35143443

>> Second, the instruction data is based OpenAI’s text-davinci-003, whose terms of use prohibit developing models that compete with OpenAI.

https://crfm.stanford.edu/2023/03/13/alpaca.html

Fitting file name for the press release: “jy1337”

“JY” for Secretary of the Treasury Janet L. Yellen; and

“1337” means tech elite:

- https://wikipedia.org/wiki/Leet

Anyone have any idea based on trading price and volume roughly how much was lost below 1:1 peg in past 24-hours?

True, though there are at least 3000 banking institutions that exist that this doesn’t apply to:

https://news.ycombinator.com/item?id=35110141

It depends on number factors, including account type; FDIC has information here:

https://www.fdic.gov/resources/deposit-insurance/brochures/d...

IntraFi Network Deposits, which is number 5 on the list, has 3000+ members, so there for sure number options even if directly managing the risks.

Lots of banks offer services like these; for example, IntraFi Network Deposits, which is mentioned in the article has more than 3000 members, which is more than 50% of US banks, since there are less than 5000 commercial banks in the US.

For most people news is entertainment and strongly dislike the “just the facts” bulleted writing style.

Full transcript:

https://darknetdiaries.com/transcript/66/

“Submissions” is the official term, per HN’s guidelines:

https://news.ycombinator.com/newsguidelines.html

FYI there used to be karma easter eggs above 500 total karma, but not sure if they exist anymore.