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Comment by snake_doc | Hacker News Reader

Usually love Connie’s writing, but this is a pretty bad headline. It’s factual, but conflating 2 facts that are not casual.

Tiger didn’t deplete their VC fund because of their hedge fund losses, that would be an incorrect understanding. The funds are insulated from another. Tiger simply deployed a lot of their VC fund already, hence depleted.

Separately , Tiger—like SoftBank— levers their VC funds, so it’ll be interesting at which point JP Morgan and other underwriters start calling in the margin if private stakes are written down.

FT direct source for hedge fund losses: Tiger Global hit by $17bn losses in tech rout https://on.ft.com/37uCacr

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Sorry, how can they lever their VC funds, surely with VCs you’re getting highly speculative valuations and terrible liquidity? That sounds like a terrible thing to lend against?

Not too many banks do it, but it’s conservatively done, 3-6pts above risk free and at 10-20% of collateral: https://www.bloomberg.com/news/articles/2022-03-18/as-tiger-...

It’s how you get here.

https://en.wikipedia.org/wiki/Minsky_moment

Do you know what kind of size they lever with? Because if JPM is on the hook for like $20bn on 2:1 leverage, then they're already looking at negative net equity.

Bloomberg cites $4B exposure for JPM.

https://www.bloomberg.com/news/articles/2022-03-18/as-tiger-...

Sounds like a very direct link, then.

> that are not casual

typo: casual -> causal ?

I wonder how much auto-correct is going to cause relatively rare words with a small edit distance from common words to slowly leave the English language.

British english will become extinct in few years due to American english based auto-correct which is enabled by default on all systems when you opt-in into auto-correct feature.

That's not true. As British copywriter working mainly for U.S. tech companies, I often have to manually change autocorrect from British English to U.S. English and back again. Every laptop and phone I buy is initially configured for British English.

Not sure I agree. As an American living in the UK I constantly battle autocorrect to spell it "rumor" or "favor," lest someone think I've gone native.

As someone in a similar situation I have mostly internalised the unexpected u, but the ones that still end up getting me (and which I had to go back and edit in this very sentence) are the s/z swaps in the ise/ize trigraph.

Yes! And defence/defense. Honestly I've forgotten which of those is which.

autocorrect

Was on mobile, corrected the word.

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