The Times Tech Podcast

Rippling’s Parker Conrad: “We raised $500m in one day to survive the SVB collapse”

Mar 24, 2023

50:55

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Episode notes

Introduction

3min

The Rise and Fall of the SVB Collapse

2min

S v B: A Single Point of Failure

3min

The Problem With the Bank Failure to Payroll

2min

The Rise of Ripley Payroll

3min

The FDIC Puts JP Morgan Bank in Receivership

2min

The Problem With Fronting Capital for a Pay Run

2min

How to Raise $500 Million for a Startup

3min

How to Fundraise a Venture Capital Round

2min

10.

Green Oaks's Fundraising Round

2min

11.

Mint Mobile Unlimited Premium Wireless

1min

12.

How to Get Paid on a Friday

4min

13.

The Importance of Customer First

3min

14.

The Risks and Rewards of Small Businesses

2min

15.

The Importance of Access to Financial Infrastructure

2min

16.

The Risks of Failure for Startups

3min

17.

Zenefits: The Fastest Growing SaaS Company Ever

3min

18.

The Importance of Automating Administrative Work

4min

19.

How to Survive in a Zero Interest Rate Environment

3min

20.

The Hard Times of Raising Money

2min

21.

The Craziest Thing That Came Out of SVB Collapse

2min

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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