Ripley is a company that provides payroll services to companies in the U.S. and around the world. On Friday, more than $130 million was owed by 50,000 Ripley customers who were not tech-related. A lot of people with bills could have been affected if they didn't get paid on Friday. The service has now launched in the UK where it will be selling directly to businesses there.
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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