At Zenefits, the value proposition was really just about HR systems. At rippling, we sort of said, hey, look, this is not just about HR for the same reason that you got to deal with different systems for payroll versus insurance versus 401k or what would be pensions in the UK. You also have the same problem where people need to get it set up set up with email and slack. And they need to get keycard access to the office. It's a real gigantic pain and totally unusor friendly.
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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