Join 📚 Josh Beckman's Highlights
A batch of the best highlights from what Josh's read, .
Let's think about that cache again: when that one node is down, overloaded, busy being deployed, etc that object is not available. This property can make operating high hit-rate caches and storage systems particularly difficult: any kind of deployment or change can look to clients like a kind of rolling outage. However, with erasure coding, single failures (or indeed any M−k number of failures) have no availability impact.
Erasure Coding Versus Tail Latency
marcbrooker@gmail.com (Marc Brooker)
After 2008, there was a perception that the government was implicitly guaranteeing the biggest banks, and that this was bad; the reaction was to regulate the biggest banks more strictly, to try to prevent them from becoming bigger, and to favor smaller regional banks. After the 2023 crisis, there is a realization that *the government is implicitly guaranteeing all of the banks* . And if you are in that business anyway, you will prefer to guarantee a few big, well-capitalized, closely supervised banks rather than thousands of risky ones.
Money Stuff: Regional Banks Don’t Feel Loved
Matt Levine
Financial systems help us overcome a collective action problem. In a world of investment projects whose costs and risks are perfectly transparent, most individuals would be frightened. Real enterprise is very risky. Further, the probability of success of any one project depends upon the degree to which other projects are simultaneously underway.
Why Is Finance So Complex?
Nick Rowe
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