I started fundraising at 9am and signed a term sheet, which is for as you know, for venture financing. That's really kind of the penultimate step, but it's the it's the real commitment. We signed the term sheet on on Friday night. So you started making calls Friday morning and had a $500 million commitment Friday night. They've moved quickly but never that quickly. It's not that I think it's actually it's a really good example,. though, of like when the venture ecosystem works, how it works really well.
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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