Join 📚 Josh Beckman's Highlights
A batch of the best highlights from what Josh's read, .
The three bank runs which already happened had idiosyncratic causes, but “if accounted for accurately, the bank is insolvent” is the sort of thing which, if one stipulates to it, one would suggest might generate bank runs in the near future. And so there was a policy response, which much commentary has assumed is primarily about the banks which no longer exist, and the satisfaction of their depositors, and which is actually much more about banks in danger which might yet be saved.
Banking in Very Uncertain Times
Patrick McKenzie (patio11)
This reminds me of the story where a Houston airport kept getting complaints from airline passengers that it took too long for their luggage to arrive. So they moved baggage claim farther away. This made travelers walk farther to get to their bags, but have a shorter "wait" time. Complaints dropped to zero.
This Reminds Me of the Story Where a Houston Airport Kept Getting Complaints Fro... | Hacker News
ycombinator.com
Even if you believe these reactions are not fair, they are an excellent example of the human volatilities one must consider in evaluating a technology for century-scale storage. If you construct your storage scheme using a culturally and politically volatile technology, that in itself presents a risk long after you are gone. As with every other method described here, the method must be preserved along with what is being stored.
Century-Scale Storage
Maxwell Neely-Cohen
...catch up on these, and many more highlights
Readwise