@trinsec Gradual descent into madness, near insolvency, and capture of nearly all your attention.
@ashfurrow@masto.ashfurrow.com @mdhughes just think of the outrage if there were any sort of concerted effort to push cheap+light. Heads would have rolled.
Elective democracy means the politicians will largely be a manifestation of the id of the electorate.
@Bronwyn depends on what you want to do. There are tons of tours if you want to see the usual sites.
You might try asking a travel agent. They actually don't cost anything to consumers, bc most prices in the tourism industry have a travel agent markup, whether or not they're sold through an agent.
But if you want to set your own itinerary and see remote stuff, renting a car is probably the play.
When my wife and I went in 2016, we concluded that we should have just eaten groceries, as the mid market restaurants are not very good and are super expensive. If you treat it like a super frugal trip, Iceland doesn't have to break the bank.
10 million accounts!!
10,006,148 accounts +1,532 in the last hour +45,052 in the last day +155,785 in the last week
If you've ever considered doing a custom architected home build, watch a couple of seasons of Grand Designs and know that it's very likely you'll have a similar experience.
@anildash I've got that going in my renovated kitchen. Another thing I'm looking forward to is a fridge with an autofilling water dispenser. My system would be complete if I could find a way to have instant carbonated water.
@stephenjudkins @molly0xfff shills gonna shill
@molly0xfff my thought exactly! It severely de-pegged just a few days ago!
No way 😢
Reddick was incredible in The Wire.
https://www.cnn.com/2023/03/17/entertainment/lance-reddick-death/index.html
Funny thing is, I'm not super mad about how it's working out, all things considered. The leadership of the bank is canned. Depositors are made whole with no meaningful cost or risk to the taxpayer.
The saddest parts are that a lot of SVB employees are out of a job, a bank that was admired for its service is gone, and the biggest banks probably benefit from this.
One story of my career is getting an ad hoc business school education on the job. In that vein, I think it's true that customer acquisition and product distribution are really similar. Maybe the same, if you're a direct-to-consumer business. But any time there's a middleman, like a retailer, broker, or agent, there's a difference.
@carnage4life not just rich people's money. Also pensions and endowments. It's kind of incredible when you really think about where the money for these tech salaries actually comes from. Ain't from revenues 😄
@Tribo I don't even have to rise and grind. Just let the AI do it for me.
@Pat @LouisIngenthron I mean, this is all just semantics. Obviously mom and pop businessesare smaller than that, but there are several orders of magnitude beyond 100-person companies, and people running most 100-person companies are generally nowhere near being billionaires.
@LouisIngenthron I mean, if it were a bank that focused on high net wealth taxes dodgers, I'd be right with you. And to be fair, I think they did do some personal banking focused on the needs of people with a lot of equity wealth. But as banks go, as far as I know (not an expert here), they were one that actually played a productive role in the economy.
I'm so for critiquing Silicon Valley-style entrepreneurship, but the implosion of SVB is probably going to have some level of collateral damage to people who did nothing to deserve it. And even if the system contains it, it's still the loss of an institution that didn't suck, IMO.
@Pat @LouisIngenthron
> Is that even legal?
Don't know, tbh. Hope I don't get arrested 😄
> When the FDIC steps in, deposits are available literally overnight.
Got it. That's comforting to know, for folks in that position. I would assume some things would break though, outside of checks and ACH. Like data feeds for accounting.
> Also, a company would need to have more than 100 employees to exceed the 250K in weekly payroll.
I would consider a company with 100-200 employees a small business. I'm not a corporate finance person, so I don't know at what point you start actively managing the risk of your top 20 bank going under. I do know there are services that sweep cash across banks, effectively increasing insurance, with minimal added complexity.
@LouisIngenthron also you're completely wrong about who keeps more than 250k in the bank. Rich people tend to invest their wealth. Companies need liquidity for payroll and services. You don't have to be a very big company at all to have payroll that exceeds 250k.
I am now @acjay
Joined Oct 2022
