notmindthegap

What drives you? Is it money, general problem-solving?

I must be wired differently because I cannot understand how someone can try so many things in so many different industries without being driven by a mission beyond financial wealth. I have friends who are like this and I don’t get it.

the question really is whether you'll use GPT4 to write your resignation letter

Did you foresee this?

it was a joke, reference to the DAO that tried and failed to buy the constitution at auction

let’s start a DAO to buy it

Why aren’t most assets marked-to-market, at least in some regular fashion?

I’m not blaming depositors. In fact, I think depositors have a right to panic withdraw. They’re making a decision to take business elsewhere, as they should.

That that can cause or accelerate collapse makes me question the entire bank model.

What other model leads to instant death, damage to their entire customer base, and collateral damage to the broader system, when a certain number of customers decide to go elsewhere?

How many people are actually parking their money at a bank to earn high interest? My guess is for most, the safety deposit box is their bank account.

Maybe a stupid question: if banks can collapse from a bank run, shouldn’t the entire model be questioned? A bank run is simply when a threshold number of customers decide to withdraw their cash, with every right to do so. With social media + frictionless mobile banking, the entire notion of teetering your model on mitigating the risk of a “bank run” seems anti-customer, regressive, and unsustainable.

Genuinely asking: for startups who were not banking with SVB, is the recent event a good thing from a competitive standpoint?

VCs with no personal skin in the game have funded what is essentially addiction engineering. It’s wild that the industry does not seem to have the awareness to understand or care about this. People are getting paid fat salaries to figure out how to covertly manipulate users into abdicating their attention and time to wholly isolated, disconnected, and malnourishing behaviors.

Now the techies are concerned with the mental health crisis.