GoCommiesGo

12 minutes ago, bearrock said:

 

May make sense for smaller companies, but for big deposit accounts, there's a limit to how much you can diversify.  There's something like 4000 commercial banks in the US.  Even having an account in every bank gets you only up to 100 mil.  Roku apparently had like 500 mil of their cash in SVB.

 

Also, some banks (SVB did this too) requires you to exclusively bank with them to get loans from them.  I think this practice should be stopped.

There is definitely a limit in what you can do. But, there is a reason to use short term securities that have a cash equivalent. I don’t know a ton about how large corps carry cash, just seems crazy to carry that much in a single bank let alone account. 

One thing I've heard of recently, that I'm not sure why these cash large accounts didn't use is a commercial sweep account. Its entire purpose is in case a bank goes under it keeps your cash in accounts less than 250k. 

You bank with one bank as your primary, once your balance gets to a certain threshold the money is then swept to a different bank and account, so on and so on. If your primary account drops below a predetermined number money is, then transferred back from your other accounts to your primary. This keeps your deposits under the 250k in case the bank goes under, and so you don't lose the protection of FDIC. 

I'm sure the fees or chargers were deemed to be too high by some folks. Maybe SVB didn't offer the tool and wanted to keep all the cash in house, either way I learned something new. 

On a separate note. 

Within 2 miles of our house 7 new electric car charges are being installed. 4 Tesla Superchargers at a Wawa and 3 Electrify America (I think) at a public park. Kind of interesting, the only other chargers within that area are at the high school and the MTA EZ Pass building, made up 4 chargers. 

I'm not sure what's going to happen, but I thought that was interesting, we live near the Bay Bridge on the western shore. 

Just now, tshile said:

The story also says they recorded it all. 
 

 

I missed that part. I saw it earlier on Jalopnik, I would be floored if this was real and not setup. It seems too wild to be true.  

41 minutes ago, CousinsCowgirl84 said:

The steering wheels thing did happen.
 

But your phone won’t unlock someone else’s Tesla. What most likely happened is the person whose car was taken left their phone in the car. Then when this guy got into it it was already unlocked and ready to drive. Pin to drive (which can be enabled) would have prevented this issue as well.

According to the story the other guy was able to unlock the first guys car and sent him a message. From the story two separate people were able to unlock each other's car and one was able to drive the wrong car to pick up their kids. I have doubts that the story is real, but if it is, it would be a wild security flaw. 

Maybe hiring the CFO of Lehman Brothers as the CEO was not a prudent move. Hopefully that man can fail upwards again, and take down a hedge fund next. 

Triangle of Sadness. 
 

I hated this, minimum 40 minutes too long. Tries to be a social commentary but is so heavy handed it’s ridiculous.

Act 1 is overly long and failed to develop either of the leads. 

Completely waste Woody Harrelson in the act 2. 
 

Act 3 has been done many times much better. 
 

Arthouse people will love it, I’m not one of those people. 

9 minutes ago, tshile said:

I would also say, to the idea of bailing people out beyond the 250k number… that’s what the 250k number is. 
 

that is your bailout. 

I feel bad that they may lose money in excess of 250k, but why would you keep that much in an account, as individual?

So the head of the bank successfully lobbied to change the asset value of the too big to fail banks to 250b when SVB had 204b(ish) in assets. The CEO is Greg Becker who was in the CFO of Lehman Brothers during their collapse. 🤔 
 

Their security backstops were in long term low yield treasury bonds. They didn’t reallocate when interest rates changed and now are screwed.

It seems like the a bank that specializes in risky investments made risky choices and will likely be purchased by a larger bank or have the assets liquidated to cover excess depositor accounts. At some point risky and poor behavior has to be addressed and things have to fail. 
 

It's going to be interesting to see the divide at the state level more than the federal level. 

A lot of these bills are state bills, and it seems that most of the anti-abortion stuff gets voted down when it makes it to a ballot. The crazy stuff is coming from hard R states that espouse FREEDOM but seem to reduce freedom at any given chance. I'm interested to see if this makes it a purple state and how it's handled there. 

19 minutes ago, PleaseBlitz said:

 

In my hypothetical that could never actually happen, no, worst thing you've ever done regardless of whether you were caught. 

I’m not sure I like that game. 
 

Though the deltas between people would be wild. 
 

“This is our new hire Pete, he once drove 15 miles over the speed limit. This our other new hire Bob, in one afternoon he killed a pedestrian after robbing a Wawa to cover the money owed to his crack dealer.Let’s welcome them both aboard!” 

4 minutes ago, PleaseBlitz said:

It would be kind of awesome if, upon hire, every employer had to announce the worst thing that person had ever done.  

Only the stuff that you were caught for though...it's not like they would know about other stuff, right? 

On 2/19/2023 at 9:26 PM, The Evil Genius said:

Prospect (2018

Just watched it, great movie. 
 

For the folks that have a Telsa, how do you feel this will affect your charger usage? From my very limited understanding Tesla has premium locations for charging, will opening it up be good for other EVs but turn into a negative for actual Tesla owners?

The Gentlemen 

Standard Guy Ritchie movie, if you like Guy Ritchie you're going to like the movie. Story is predictable, but good. Cast is great, Colin Farrell and Charlie Hunnam are fantastic in their scenes. Movie flowed fast and kept the plot constantly moving without any real dead space. 

B+

The below is from the article, Musk is directly contradicting written documents with his testimony. I guess Musk is unfamiliar with due diligence when investing in companies and can't wrap his head around someone not just throwing money at it. 

Quote

Those text messages between Musk and the investor were revealed last year as a part of the pretrial discovery process. In them, the Tesla CEO accused Al-Rumayyan of throwing him "under the bus." At the time, the texts show Al-Rumayyan said PIF couldn't commit to a project "that we don't have sufficient information on."

He was my dad's favorite musician, we had CSN on constantly when I was growing up. I got to see him once with my dad when he toured with CPR at Pier 6 in Baltimore. 

I'm shocked that people still respond to @Tundra scout. 

Guy does a quick post, watches a few people make responses, but never comes back.

Dude is popping a post, leaning back and just snickering to himself "Got those libs, who's the alpha now!" as he watches some reactions roll in and clicks over to the Daily Wire to bathe in the essence of Ben Shapiro. 

You're all giving him what he wants, a reaction, he has no interest in real discussion. 

1 minute ago, The Evil Genius said:

The huge price cut probably signals that Tesla is currently in some deep financial 💩, right? 

I think it's more demand is dropping. 

That is an odd way to end the year. I don't understand the thought process that gets you to this, unless they believe they are going to be down big by halftime and Dallas pulls players. 

2 minutes ago, tshile said:

I’m sure they pulled her picture from LinkedIn or the firms website. They love to have official photos for things (social media, marketing in general, etc). I’m sure none of that is hard to figure out. 

 

computer vision (a subcategory of Artificial Intelligence) has made huge advances. It involves facial recognition but also object recognition, reading license plates (very common for police these days), etc. 

This is interesting, they just run some type of program to pull the names / pictures of people to add to the dataset. Appreciate the info, I don't enjoy this. 

Quote

modern phones tablets and computers do it to unlock devices…  the government has been using it for years to identify people they capture. It’s really just a matter of justifying the cost. 

This I was aware of, the using it by private companies is something that I was not aware of. 

How did MSG have her in their database, where do they get all the information?

Also, I may just be unaware, but how common is facial recognition software being used in everyday life?

NASA may not, but if anyone is going to do something it's going to be DOD. I think corporate structure is going to be the most important part of this. I'm contemplating reaching out some folks just to satisfy my curiosity. 

@The Evil Genius I'm a contracting officer for the Fed. I've been wondering if he is going to put the SpaceX awards into a precarious position. SpaceX has DOD and NASA contracts worth over 5 billion dollars obligated since fiscal year 21. I'm not sure how you handle a company owner tweeting out conspiracy theories and liking deep state ideas. 

I would guess that is unchartered waters, and for the sake of the companies I hope they have enough insulation from him that it really doesn't matter. But who knows at this point.

I've said it before, but it is incredible to watch someone look at a money printing machine and decide to just set it on fire. 

The absolute arrogance and stupidity are just out of this world. I can't wait for the 30 for 30.