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Comrade Blyatlov posted:What about gigantic floods we could always airdrop in Ben Shapiro
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Mar 1, 2023 19:18
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More of a sportsball thing, but a college basketball player just turned himself into an American soldier by accident and was hosed for a few days: https://twitter.com/DPiper247/status/1631032122206044162?t=5hczWjXIT74jl9L56Pyaew&s=19 GAMER/TROOP FUEL
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Mar 1, 2023 21:47
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CBJSprague24 posted:E- Current events thread is not the NHL thread. tbh I thought this was the SA equivalent of a twitter account being taken over by a crypto hacker, then everyone trying to figure out who the hell the account was to begin with rip @butwithraptors
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Mar 2, 2023 00:28
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orange juche posted:Where is this? I've been staying out of news squabbles, and the idea of Rupert Murdock getting upset at fox news is amusing to me. Rather than link something, here are the basics. Rupert Murdoch is in charge of 21st Century Fox (Big Fox), that has the subsidiary of Fox News. Lachlan Murdoch is in charge of Fox News. Rupert Murdoch is trying to underbus Fox News and his son Lachlan in a deposition because Dominion is suing both 21st Century Fox and Fox News. Dominion is suing both because they want access to both Fox News's money (a lot) and 21st Century Fox's money (a whole loving gigantic shitpile lot). The Dominion theory of the case is that both are responsible for defaming Dominion with all the Fox News lies. Would you rather sue Wal-Mart Store #4325 for compensatory and punitive damages? Or would you rather sue Walmart Inc for compensatory and punitive damages? One organization has a whoooooooole lot more money for court judgments.
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Mar 2, 2023 00:58
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orange juche posted:
Yeah it's a loving wreck of nonsense that I started a post on and gave up as I confused myself. So it's more that Lachlan was way more exposed that Rupert, and Fox News was always Rupert's baby. Also, apparently the rest of the family hates the right-wing poo poo and Lachlan's all-in: https://www.businessinsider.com/lachlan-murdoch-son-rupert-fox-news-host-trump-criticism-lawsuit-2023-2 https://www.theguardian.com/books/2022/oct/31/rupert-murdoch-successor-news-corp-paddy-manning-book gently caress america for making this family bullshit a problem and giving Rupert any control over our lives and australia too facialimpediment fucked around with this message at 01:10 on Mar 2, 2023 |
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Mar 2, 2023 01:08
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Platystemon posted:Elon’s mother is the only woman in his life who has not distanced herself from him. Plus 11 kids, all via IVF or surrogacy, and some where romance wasn't even involved. Probably just a matter of time before some really twisted poo poo comes out.
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Mar 2, 2023 02:50
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Just remember, congresspeople are generally old fucks and generally don't care about emails. And their staffers in charge of the email boxes probably get a gazillion form-letter emails that they have to cull through constantly with their eyes rolled back into their heads. If you're going to contact your congressfucker, call their office and leave a message and/or talk to the legislative staffer. General format guide: https://www.apa.org/advocacy/guide/phone-call
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Mar 3, 2023 15:10
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tant misbehavin', I'm savin my love for you https://twitter.com/NikkiMcR/status/1631749259123990528
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Mar 3, 2023 22:03
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There probably won't be a much better time to change your job, which you need to do because that's pretty fuckin vile. The labor market is currently tighten and will loosen in the near future as idiot companies lay off more people for no reason. But how your company survives through time-robbing wage thefty poo poo like that I have no idea. Probably poorly. FrozenVent posted:Change job. What the gently caress.
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Mar 6, 2023 04:30
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Twitter's busted again: https://twitter.com/tobydoyhowell/status/1632792595465207809?t=GJvqDtAj9xSVCebt2RC49Q&s=19 quote:Quick twitter recap for everyone https://twitter.com/TwitterSupport/status/1632792942262747136?t=aRaFKn3HCi9_PExBdikBnA&s=19 quote:Some parts of Twitter may not be working as expected right now. We made an internal change that had some unintended consequences. We’re working on this now and will share an update when it’s fixed.
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Mar 6, 2023 18:38
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Zamujasa posted:"we are going to restrict api access to paying customers" is maybe not the correct approach to take when you aren't paying your bills So apparently, it's this: https://twitter.com/DannyPage/status/1632788313366048770 quote:What this likely means is that the new Paid API is going live and they forgot to add their own services to the Allow-List. this poo poo's so dumb even non-YOSPOS people can thoroughly understand just how bad they continue to gently caress up
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Mar 6, 2023 19:05
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AreWeDrunkYet posted:Don't worry, he's focusing on the important things. centrist takeover
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Mar 6, 2023 21:01
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Zamujasa posted:Every ounce of Elon's suffering is delicious because it is entirely, wholly, one hundred percent his fault. It's pure schadenfreude. Today's fun was because he only has one person working on the free API --> paid API thing and they broke it https://twitter.com/CaseyNewton/status/1632849093897891840?t=gPIHz9iKx_ybgWfhkr2x9w&s=19
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Mar 6, 2023 22:28
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Tiny Timbs posted:Elon went the fake disability route on a guy with MD? loving hell there is not a depth to which this clown won’t sink This gets better: https://twitter.com/_ElizabethMay/status/1633132292855025666?t=blEh81qOnf5jK9cxtvSQxQ&s=19 I somehow don't think that Elmo's legal squad is going to have much luck in the Icelandic legal system if they refuse to pay out this guy. He fired the "do not fire" guy. facialimpediment fucked around with this message at 16:58 on Mar 7, 2023 |
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Mar 7, 2023 16:56
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Comrade Blyatlov posted:weak I'm pretty iffy on the sourcing, but apparently Halli's acquisition deal/contract said he'd be getting a salary instead of a flat buy-out. And the contract says if Halli gets terminated at Twitter, he gets the remainder of what he's due on that original acquisition deal. He would be due $100M. And unlike the previous twitter execs, he has Icelandic law / non-EU member state protections to enforce that payout.
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Mar 8, 2023 01:52
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Still can't find good sourcing on the $100M because the Ueno acquisition by twitter didn't have disclosed terms. But Ed Zitron posts a good question: https://twitter.com/edzitron/status/1633275855580577793 
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Mar 8, 2023 02:23
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hey look, someone at the NHTSA discovered twitter videos https://twitter.com/AP/status/1633443958222192642?t=iNU4Ewsyh_IZH7ePGXvjmw&s=19 granted this is just the 2023s which somehow shipped without a steering wheel bolt, but I've seen many "oops, wheel fell off, sweet, please help @elonmusk" videos for years
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Mar 8, 2023 14:28
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Kesper North posted:hell yeah For once, Michigan has been a gold standard on what you do when you get a state trifecta (by only two votes!) for the first time in my lifetime. It's been a few months and the abortion ban is already gone (codifying the constitutional vote last year), right-to-work is about to be dead, and a background check law is about to go through. https://twitter.com/clarajanehen/status/1633647975963533312?t=Baxa-qDPdw7gCe2QDR7x_w&s=19 But you know, growing pains when you haven't had the majority in a long time. A goof will cost a day's work on one of the bills or something.
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Mar 9, 2023 10:03
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The New York case is the weirdest because it's the Stormy Daniels $130k payment case and the same DA passed on charges before. It's also a misdemeanor that could get trumped-up (ugh) into a felony if they somehow prove it was directly intended to be election-related. And it's kinda close to the statute of limitations. So it's really, really loving odd, like there's new evidence or something changed in the very recent past. Maybe because of the Trump Org civil conviction? There's way more meat on the Fulton County (GA) and Special Counsel cases so this one really does rate around a strawberry on the jam wriggling-o-meter. Maybe they got a crimes.txt email from someone? 
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Mar 10, 2023 13:30
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yeeeeesh https://twitter.com/Dave_Boucher1/status/1634207244421144576?t=057JNqYxvnLDV7dxmToY2g&s=19 and... yeesh? I don't really know, but gently caress that sounds pretty close. https://twitter.com/broderick/status/1634198508512194562?t=-bd1LccX8r63iraFEfEBbg&s=19
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Mar 10, 2023 16:06
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I was going to ask y'all just what the gently caress Silicon Valley Bank actually loving was, because everyone is speaking gibberish about it and none of it penetrates my brain. But lol they're gone now, officially a failed bank taken over by the FDIC: https://twitter.com/kgreifeld/status/1634234151783022606?t=H5yng8MG__44t8o02wPJhA&s=19 I think they were just a 17-branch bank that catered specifically to silicon valley venture capital tech bro speculation and now they're the first dead insured bank since the early pandemic. RIP whatever the gently caress that bank was!
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Mar 10, 2023 17:51
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Squiggle posted:It is - was - apparently America's 16th largest bank, so 17 branches or not this is going to be a ride. Finally found some numbers in relation to the potential losses and loving lol on a stick: https://twitter.com/business/status/1634211584657571843?t=E2FA1NdGyzW5MQCZ6UlMpA&s=19 Shocking development that the bank went kablooey when all the startups decided to call a bank run and pulled whatever the gently caress they could still access.
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Mar 10, 2023 18:09
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shame on an IGA posted:They were doing pretty normal boring bank poo poo but for whatever reason almost all their depositors were SV startup companies, it's the bank all the startups used for their business banking accounts and they all piled into the exit at the same time. Looks like boring bank poo poo at a hilariously bad time: https://twitter.com/mbdailyshow/status/1634225065129660421?t=CuKH0B0urjNQmAhHwqoB4A&s=19 VCs stopped getting funding when interest rates went up, so the bank didn't get consistent deposits to make up for the $80B they tied up at a now-poo poo rate. So, the bank started selling those at a loss to free up money, but still didn't get enough to get eaten by the run.
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Mar 10, 2023 19:46
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https://twitter.com/CoinDesk/status/1634277243487768579?t=6laAbw-OmczYgFCr2_sXgA&s=19 lol that another exchange-like homogenate is getting hosed by the bank failure, instead of actively contributing to the failure though a lot of that tied up venture capital was probably crypto-adjacent
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Mar 10, 2023 21:53
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CommieGIR posted:I wouldn't be surprised if the bank alerted them of a pending issue that initiated the response. FDIC people were apparently at the bank yesterday, so that's probably when most of the emergency planning was done. But one thing I really don't know about - can big businesses even have guarantees on their funding when banks fail? Like obviously the FDIC covers the $250k, but is the business backstop for accounts above that simply that some other bank would jump in and buy the failed bank? Incidentally, another factor into why this all happened - Trump, Republicans, and SVB's CEO killed off Dodd-Frank for regional banks! https://twitter.com/joshtpm/status/1634330899171901440?t=8CqfLuHezfKwMoBS-f-pfw&s=19
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Mar 11, 2023 00:47
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Oxygenpoisoning posted:This is a fairly good thread on the business practices that led to their downfall. That person has a cornucopia of red flags (etherium in the handle, web3 person, Twitter Blue subscriber, etc), but I think they've kinda nailed it. I wasn't aware of the sweetheart loan deals they were giving VCs in exchange for "bank with us too!". There was also a report that SVB hasn't had a chief risk officer since around May 2022, right around the time rates started accelerating. And the customer they sought was exactly the type to immediately stop throwing money into the bank when rates accelerated, while also demanding withdrawals. And somehow bank execs thought it was right to shove the money into long-term investments. Wrong strategy, wrong customer, wrong time, and kablooey. I refinanced my 30-year 4.125% mortgage down to a 15-year 2.875% back in December 2021. SVB was probably acting like that loaning environment was going to keep on rolling. With the Fed's interest rate hikes, my credit union's 30-year rate is now 6.5% and the 15-year is 6%. Woops!
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Mar 11, 2023 03:59
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Leave posted:Hi, I'm high and stupid; I live in the Midwest, does that bank failing affect me in any way? Unless you got your weed from a west coast techbro startup looking to disrupt the marijuana space, sit back and enjoy the show.
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Mar 11, 2023 05:06
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Yeah there's already poo poo about how SVB was woke and therefore Biden is responsible for the bank collapsing when the major trigger was the 2018 regional bank Dodd-Frank rollback (which did get democratic votes). The main reason I'm having a giggle about the whole thing is like what Mr. Nice! said. Unless there's something we REALLY don't know about what SVB was doing, they should probably get bought or at worst, yield a 20% haircut. The bankers were idiots, but we don't know of anything truly crazy like crypto investments that went to zero. That won't cascade through the system and it will make VC really, really mad, which is a net positive. The worker bees should get paid on Monday.
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Mar 11, 2023 16:51
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Tiny Timbs posted:If all they had to do was chase a minimal return why did they lock their money up like a regular person investing in CDs? maffew buildings posted:That's a great question and one that a risk manager would be able to answer, a job they reportedly left unfilled for awhile From what we know right now, 100% of what SVB did operated under the assumption that 2021 would continue forever. And SVB had Way Too Much loving Money on-hand in deposits: https://twitter.com/mbdailyshow/status/1634225063737151489 You can easily lock up $80B of deposits if an additional new $80B in deposits is going to come rolling in from new VC startups to cover that investment. The problem is that in 2022, money stopped being free and VCs stopped throwing endless money into startups. No more new customers, no more new deposits, and oops the Peter Theils want their money back in liquid form: https://www.businessinsider.com/peter-thiel-founders-fund-pulled-cash-svb-before-collapse-report-2023-3 SVB died because they didn't realize money was no longer going to be free. That obviously kills the startups of pizza arbitrage and smartphone taxi-calling disruption - their customer base!
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Mar 11, 2023 18:23
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Grip it and rip it posted:Spending money to de-regulate then begging for a public bailout is so loving unbelievably stupid it really calls into question what the gently caress bankers think it is they do. gently caress em The VCs bleating on twitter in various forms of rage and depression kinda shows SVB's business model. The same VCs had their businesses, mortgages, and personal accounts all tied up in SVB. Nothing ever entered into their mind that the bank giving them 25% of the rates of normies might suddenly have problems. Now suddenly things became closer to fair in a whole loving hurry and they're demanding both a bailout and sympathy. https://twitter.com/screaminbutcalm/status/1105577845642878976?t=vGkcUnD5AajCb1faXvXpvQ&s=19 Should've learned from the Greek Freak. https://twitter.com/TrungTPhan/status/1634401487593033729?t=HuW13i823IPGtzUMPxEVOg&s=19
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Mar 11, 2023 20:27
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Alrighty, finally some solid numbers with a side of lol The lol first: hedge funds are offering to buy out companies' accounts at SVB, but only at 60-80 cents on the dollar The numbers: quote:The bank was slammed by $42 billion in withdrawals on Thursday, leaving it with a negative cash balance of about $958 million by the end of the day, according to California’s financial services regulator, the primary watchdog for SVB. https://twitter.com/semaforben/status/1634644926683045897?t=f5pHUw8eM-3mcTlCZvHwnA&s=19 The end stuff is some rampant conjecture about FDIC somehow being able to insure depositors above $250k while loving over SVB bondholders/shareholders. That would be a loving funny result, but this poo poo's going to be in legal hell unless someone outright buys the bank from FDIC.
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Mar 11, 2023 21:48
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Stultus Maximus posted:So are the jackals eating the vultures or vice versa? gently caress 'em all, they all know what they did But lol at SVB for thinking that saying "please be loyal and not bank run us" to their customer base of Peter Thiels was going to end up working out at all. Everyone involved deserves each other except for the workers getting their paychecks delayed (hopefully not killed). So I really don't have an answer! Part of the reason why I'm so entertained. SVB's collapse is so much bigger than Silvergate Capital's (cryptobank) that I can't even laugh hard at Silvergate because that's like a stubbed toe versus a kick in the balls.
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Mar 11, 2023 22:20
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US Berder Patrol posted:I personally don't see the big deal. $250k is plenty for anybody to cover rent for a few months while they apply for jobs and get back on their feet. These guys are supposably such big captains of innovation, they could just work their way up from the mailroom somewhere. Only country where they could, imo For about 30 seconds, I was thinking "hmm... why are only the $250K deposits insured, how the gently caress do businesses handle banking?" I immediately snapped out of it once I thought about what banks would actually do with that deposited money if they knew there would be an inevitable federal takeover and bailout of all the companies with those accounts. And that kind of poo poo couldn't be adequately preventative taxed. So here, have some broken braining: https://twitter.com/Mateba_6/status/1634694563859251200 And the tweet with embedded video: https://twitter.com/jordanbpeterson/status/1634679410245681153 looking into it
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Mar 12, 2023 03:04
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I'm starting to hate these VC idiots more than I hate the idiotic bankers, sheesh https://twitter.com/EladNehorai/status/1634809159710556160 But SVB might actually get a buyer and this all ends up relatively moot in a week, even if the techbros are shrieking for more bank runs on regional banks just to save their own bank. https://twitter.com/business/status/1634949647671099400
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Mar 12, 2023 17:30
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https://twitter.com/BrendanPedersen/status/1635044322692468736 Reading between the lines, this likely means that SVB probably didn't get a buyer, but there's likely enough on-hand to cover all of the depositors (but still likely gently caress over the investors/shareholders). Or, FDIC has a backstop from the Federal Reserve and they're all fine with printing the money. I'll need a few more hours to come up with a solid opinion. This sounds like the edge of a bailout, but not quite, and they're making a lot of Federal Reserve money available to banks to prevent more bank runs for tomorrow and onwards. And it doesn't really fix the problem of these regional banks getting deregulated in the first place and VC bros having so much ability to kill things. meh, I guess also, Signature Bank, basically the one bank that was legally allowed to do crypto things in the USA, has officially been unwound and closed, so this is a definite net good: https://twitter.com/edzitron/status/1635045477992517632 Edit: early opinion is still meh, VCs won and got a bailout funded by increased FDIC fees/taxes, but VCs are still hosed because their capital is toast due to the Fed's interest rates anyways. And the Fed's new loaning stuff is probably a solid way to stop bank failures due to a techbro rush. facialimpediment fucked around with this message at 00:05 on Mar 13, 2023 |
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Mar 12, 2023 23:30
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Why it was a bailout: Treasury (taxpayers) is on the ultimate hook if/when funding runs out Why it's not a bailout: FDIC/feds have $100B on-hand because of the 2008 bank reform specifically for poo poo like this Why it was a bailout: that fund is paid for by banks, which pass on the costs to anyone with a bank account Why it's not a bailout: Depositors are 100% whole, equity/shareholders are 100% hosed Why it's a bailout: zero major consequences for the VCs that got obvious sweetheart deals or the bankers that gave them VC is forever now a bunch of welfare queen crybaby fake libertarians and never let them forget it. It's the one good side effect of the federal reserve rate increases that the VC money train just derailed and it was full of hazmat.
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Mar 13, 2023 01:22
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https://twitter.com/TheStalwart/status/1635200053496393728?t=S-MXHHwFjk8DLNtZgAHStg&s=19 Explains why the fed set up the loaning backstop because the midsize banks sure aren't going to be able to raise money by making more stock shares available  Edit: oh hey, here's the quote https://twitter.com/sonalibasak/status/1635263171807309824?t=TbOde6tGsr5DxweD21CBQQ&s=19 facialimpediment fucked around with this message at 14:13 on Mar 13, 2023 |
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Mar 13, 2023 11:54
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the horse pasters are buying the farm https://twitter.com/VICENews/status/1635258925133201410?t=UqZhnp18IOwE7OF3yazuWQ&s=19
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Mar 13, 2023 19:12
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Meet Yvonne St Cyr. https://twitter.com/ryanjreilly/status/1635435722583814145 quote:After she left court Friday after her conviction on each count, she fired up the Facebook app and went live on her husband's account. Don't be Yvonne St Cyr. And especially don't get convicted of two felony counts of obstructing and interfering with law enforcement during a civil disorder (and four misdemeanors). Feeding your brain worms isn't worth that kind of gamble!
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Mar 14, 2023 02:42
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Mr. Nice! posted:I wonder what the WSJ thinks is the reason SVB went down... And the CEO was a super duper white guy. Anyways, facialimpediment posted:https://twitter.com/TheStalwart/status/1635200053496393728?t=S-MXHHwFjk8DLNtZgAHStg&s=19 Just another day in big brain investing: https://twitter.com/byHeatherLong/status/1635639661031768067?t=Aj5Qd31rOzxf11WICoDCLw&s=19
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Mar 14, 2023 15:06
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