Danny in the Valley is CNN Tech's weekly dispatch room behind the scenes and inside the minds of the top people in tech. We have a story from inside the SVB mushroom cloud. Rippling, which handles payroll for hundreds of thousands of employees across the country, had about $130 million worth of paychecks owed to more than 50,000 people. Parker Conrad, who is Rippling's founder and CEO, talks about that crazy weekend.
The Sunday Times’ tech correspondent brings on Parker Conrad, founder and chief executive of Rippling, to talk about getting caught in the collapse of Silicon Valley Bank (3:30), receiving a call at 5:30 am (8:30), how wide the SVB blast radius was (11:00), moving $130m to JP Morgan in three hours (13:45), raising $500m in a day (17:00), why some people still didn’t get paid (23:40), the growing vulnerabilities of regional banks (30:20), the importance of SVB to tech (32:30), Conrad's experience at Zenefits (37:15), why automating things with software is harder than it seems (42:30), and operating in a slowing economy and tighter funding environment (44:40).
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