2min chapter

How I Built This with Guy Raz cover image

Xero Shoes: Steven Sashen and Lena Phoenix

How I Built This with Guy Raz

CHAPTER

The Trade War - Can You Accelerate This Order?

The trade war was a really big challenge for us because it started, there were no supplemental tariffs applied to footwear at first. But by the time they announced them in September of 2019, we had already placed a multi-million dollar order and suddenly we were going to have to face massive tariffs. By 2020, we had personally guaranteed $5 million in debt financing, a combination of SBA loans, the, this family office, as well as short term lines of credit. And so, you know, my investors at the end of, they're all upset about how much inventory I have on my books at theend of 2019.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode