JOnAgain

The rational way I am looking at this. When rescuing SVB, the FDIC said they would make depositors whole by imposing some sort of tax on other FDIC members.

> Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.

This kind of tax would probably be applied in proportion to deposits held. With the knowledge that they'd be on the hook to cover depositors, it makes sense for large banks to band together to stave that off.

Also, they have to cover this anyway -- either by losses on deposits if it ever came to that or via "special assessment". The leaders probably see it as preferable and less risky to shore up First Republic now vs. later.

Bank accounts and service. Seriously.

When you are a startup, a typical model is you deposit $2mm or $4mm or whatever of VC money and spend it down. You are a brand new company with no income and a bunch of money. You trip all their fraud flags, and all their models for credit are based on income, age of account, etc.

Payments to vendors would constantly get frozen, incoming wire transfers get flagged. Getting a cash-backed company credit card wasn't possible. It has improved slightly recently, but still very tough.

Overall, I'd say very few startups use the big banks today. If they're not with SVB, they're with other mid-size regional banks.

I 100% agree.

I've seen this happen to many managers at FAANG. You're promised 10 people for a project next year, you get 4. So you cut, manage, optimize, engineer, and hustle to get something done and working. Management above you sees this as relative success, and validates that they were right not to give you more people. Disillusionment sets in, the team quits or transfers, you get bad reviews.

The next year, you're fired or transferred, and the new guy comes in, he gets 10 people, saves the day and gets high praise. He gets good reviews and maybe a promotion. You look back with resentment. The problem wouldn't have been there if they had given you the resources you said you need. If you had 10 people, you also could have saved the day.

This is the sickness of large organizations and non-technical management. I have rarely seen organizations not run by owners spend the $1 on prevention today, they almost always elect for the $10 for a fix later.

If you need 10 people to do a job, and you get 4, the job should fail. Your systems should be going down. Don't sabotage, but upper management needs to see, not hear about, failure. Update deliverable timelines form 6 months to 18 months or just cancel new projects all together, change your SLA's from 99.9% to 90%. Change your ticket response times from 30 minutes to 12 hours or best effort business hours.

You'll either get the resources, get attention for reprioritization, or learn that your job isn't a real priority.

Depends. For web-app and business logic, we have about 95% coverage. All our models and back-end processes are well-tested with error cases. Our front-end & E2E is much lighter and we focus on happy cases.

Firmware is mostly tested manually.

With a data point of 1, I had a bad HiLetgo ESP32 dev board, and I now avoid them.

Amazon logistics is bigger than Fedex, very close to UPS, and closing fast on USPS, as measured by number of packages delivered in the US. So, actually, they are big enough to be the best. Not saying they will be, but scale will not hold them back.

https://www.ajc.com/news/business/amazon-is-upss-biggest-cus...

https://www.axios.com/2022/05/24/amazon-shipping-fedex-ups

Lumo | Sr. Fullstack Engineer | Remote | Full Time | https://lumo.ag

Lumo is solving fresh water management for humanity. Irrigation uses over 70% of the worlds fresh water consumption and we are at peak fresh water. Rivers are running low, wells are running dry, and the problem will only get worse. Lumo's platform will help farmers manage their water, lower costs, and improve efficiency.

We are seeking a senior full stack engineer. CS Degree and 10+ years experience. We are a tiny team -- still less than 10 -- and you will have broad scope over our product. Our stack is Rails 7, pretty much stock -- Tailwind, Postgres, Sidekiq, RSpec, Factorybot. We are looking for someone who loves to be hands on and own features end to end -- from product discussions and definition through release and maintenance.

The 3 partners at Lumo have all built and sold businesses before. We have raised ~$4mm to date. We are 100% remote with quarterly on-site pow-wows in California. Must overlap with US East Coast Time 4 days a week.

Reach out to "jobs at lumo dot ag" to apply.

Lumo | Sr. Full Stack and Firmware/Embedded Engineers | Remote (NY/SF) | Full-time | $175-??? + equity

Irrigation currently uses over 70% of our fresh water. We're helping farmers be accountable and better manage their water use. On top of that, a huge percentage of electricity is used to pump water. Our system can dynamically respond to power supplies and prices to achieve irrigation goals.

Lumo is a seed-stage company building cloud-controlled smart valves. Customers can control their irrigation systems, track water usage, and streamline operations. They save money through efficient water use, leak detection, shifting water consumption to off-peak times, and more.

We're seeking engineer #1 and #2. Our V1 is a well-tested Ruby on Rails webapp and C++ Arduino firmware running on Espressif chips. We are leading the way in Agtech and water management. 5+ years industry experience a must, 10+ years preferred.

Come work on a problem that matters to humanity.

The partners have all started and sold companies before. We've raised over $3mm to date.

Check us out at lumo.ag. You can contact me for more details: john [at] lumo.ag

What about the wire transfer fee I pay to my bank on my app when I send a wire?

They can already join your activity across everything. This is about access and collection. So if they move store.google.com to google.com/store, they will have access to all browser permissions you gave google.com/maps or google.com/flights.

Teams with over 100 users are going from $7 to $24?

150 users * 12 months * $7/month = $12,600

150 users * 12 months * $24/month = $43,000

Is that right? There are customers who will see their bills more than 3x?

What is even the point? https://www.githubstatus.com/

Save money by just not having the page or the people pretending they do something useful by maintaining it.

Yes

I feel like there’s something weird with the dataset. It’s says the average US salary is $110k. That’s seems incredibly low.

Trivially cheap compared to a 10 story apartment building.

“Money is just sitting there that isn’t being used … and there’s these projects that aren’t moving anywhere as a result,”

What money?!? Lol. Headline should read, “People with 10 years post-secondary education not applying to jobs paying less than corporate entry level jobs.”

Sounds like all my middle management meetings at Google. At least 10 people to make a decision, they all have the ability to veto, but none have approval authority.

I'm guessing the licensing is much more profitable. Especially if, accounting-wise, all the costs of developing the the patents is attributed to the chip division.

Also may be limiting for some people to participate due to their ability to multitask or type quickly (possibly due to a disability).

I'm so tempted, but I've been on 32" and 34" for years now, I just don't think I could go to 27" again. I am dying for a great high end monitor with charging for my laptop, integrated camera and speakers. I loved my old cinema display. I really want this, just a bit bigger.

Thank you. I love discovering things like this on Hacker News.

I appreciate that they have made globally deploying a rails app, Postgresdb, cdn, network routing fast and easy. There is always lot of finicky configuration issues and it takes a lot of time to get this all set up right. Like lots of IaaS, they are making something hard easier. They are not, though, removing the need to build your app to this paradigm. The conventions and restrictions you need to follow to realize the benefits remain and are similar to what you’d have to do yourself. So they’ve cleaned up lots of application and deployment gunk, but the app engineering work remains. This is progress. Very nice.

Starting at $249, though

but will it fly?

I think it takes some real humility to post this. No doubt someone will follow up with an “of course...” or “if you don’t understand the tech you use...” comment.

But thank you for this. It takes a bit of courage to point out you’ve been doing something grotesquely inefficient for years and years.

Unfortunately

They mean the Xbox store, right? Gonna let steam be an alternative way to distribute games on my Xbox?

It would be great if this line were at the top:

>> Deno is a new runtime for executing JavaScript and TypeScript outside of the web browser.

I tried doing something like this last year. It took a long time to get right. When it finally worked, the bill was far higher than i had estimated due to bandwidth.

Overall, i love the idea, but it was a huge pain and not worth my time.

NYC has this. It’s a lot.