chernevik

7 ms·

1.
by chernevik 3y ago
Probably a polite way of saying she screwed up. She had a reputation as an indifferent navigator and aviator which is consistently downplayed.
2.
by chernevik 3y ago
Which is silly, because the whole point of integration testing is to show your bricks don't fit together as expected.
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by chernevik 3y ago
I don't understand how a lawyer who revised witness testimony is walking around free. Toss in jail and throw away the key.
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by chernevik 3y ago
It isn't as clever as it thinks. If an omnipotent God could arrange such an explosion, and we presume Him loving of all sentient creatures, He could easily arrange His explosion to avoid harming His creatures. Such a story wouldn&#x27
5.
by chernevik 3y ago
Because downvotes are heavily used to say "I don't like this" rather than "this is not relevant". I've complained to HN about this and proposed solutions. They don't care.
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by chernevik 3y ago
Doesn't matter even if true. Anyone wanting to be taken seriously on "disinformation" would get as far away as possible from a place like Harvard in the first place.
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by chernevik 3y ago
Shakespeare's Brutus speech is brilliant, turning "Brutus is an honorable man" from econium to deadly sarcasm. "[Shakespeare's] version of Mark Antony's speech is probably the greatest written speech ever"
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by chernevik 3y ago
There was a time when even union members and liberals agreed that a public sector union was a nonsense concept. I think it was JFK that first permitted them, and since then they've grown to such enormous political power that questioni
9.
by chernevik 3y ago
https://archive.is/GBdPm
10.
SVB's Loan Book(ft.com)
2 points by chernevik 3y ago|2 comments
11.
by chernevik 3y ago
Very interesting walk-through showing the sort of credit SVB was providing startups.
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by chernevik 3y ago
Sometimes the process is the punishment.
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by chernevik 3y ago
What a shame. I'm by no means a photographer but I found their reviews incredibly helpful.
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by chernevik 3y ago
I've taught courses on SQL to newbies and learned a lot from it. My rule for the slide deck was "don't use a term you haven't explained". So I'd write a slide and check for new words. If I really needed them
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by chernevik 4y ago
College was by and large killed when politics confused the correlation with higher income for cause. We've since wasted a lot of time and money "educating" people who didn't want and couldn't profit from college, a
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by chernevik 4y ago
I think the VCs would have helped not SVB but their own portfolio companies. The amounts involved would have been small and the VCs would not want to admit to their own investors they were idiots. Failure of a number of regional banks does
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by chernevik 4y ago
I think you're describing money market funds, they take your cash and put it into very short-term commercial paper and t-bills. Google says they're managing something like $3 trillion these days. Places like Vanguard, Fidelity a
18.
by chernevik 4y ago
Anyone interested in such a thing would just keep their money in T-bills via a money market fund. Fast access, zero credit risk, but there is the hassle of sweeping/topping up the bank account used for transactions. I understand many
19.
by chernevik 4y ago
Banks use deposits to fund loans and profit by the difference in the rates paid by the loan and the depositor. It's a pretty good business model with a stable deposit base, but SVB got a huge influx of deposits and mismanaged it.
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by chernevik 4y ago
Why weren't the likes of JP Morgan competing with SVB for this business? And notice that in 2018 SVB was explicitly relieved of the increased regulation accompanying the "systematically important" label.
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by chernevik 4y ago
I'm sure they weren't lending to zero revenue companies but there are lots of new small companies with some revenue and capital that need some momentary liquidity: credit lines, bridge loans to next equity funding, etc. And loans
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by chernevik 4y ago
You're entirely right about the hostage scenario. Ultimately the VCs that guided their portfolio companies to use SVB and neglect obvious cash management are responsible for the anxiety. I suspect they would have stepped up to fill an
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by chernevik 4y ago
Unmentioned are the regulatory implications of 100% deposit insurance. A regulator liable for ALL the deposits becomes responsible for ALL the assets. Regulators are generally conservative, and loans to new companies with strange ideas and
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by chernevik 4y ago
Yes, the excesses of the French Revolution were entirely caused by Louis XVI. The lengths to which people will go to justify revolutionary slaughter are really something.
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by chernevik 4y ago
Yes, Caesar's death opened the field for Octavian. But Octavian was such a political genius that we can easily imagine him assuming dictatorial power after Caesar no matter how long the latter lived, and institutionalizing in substant
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by chernevik 4y ago
The question for the VCs is not, "why did you advise your portfolio companies to leave SVB?" It is, "why did you not advise your portfolio companies to hold their capital in a t-bill money market?" This obvious step for
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by chernevik 4y ago
Unions are needed to provide the social structure to suppress worker dissent against a strike and to label all willing to work on terms offered as "scabs". "Union solidarity" is an important cover story for a host of beh
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by chernevik 4y ago
This. VCs advise their portfolio companies on any number of mundane business arrangements and cash management should on that list. I strongly suspect that SVB's relations with the VCs interfered with this obvious item.
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by chernevik 4y ago
sorry
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by chernevik 4y ago
Pretty small shoe.

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