Christopher Lochhead Follow Your Different™

On this episode of Christopher Lochhead: Follow Your Different, we have a dialogue with Mike Maples Jr. on how artificial intelligence is changing startups and venture capital. Mike Maples Jr. is the co-founder of Floodgate, one of the highest profile early stage venture capitalists. He also has a podcast called Starting Greatness, and it is one of my absolute favorites. By the end of it, we hope that you'll gain a new way to think about both technical risk for startups and market risk. And why in an AI world, you must either be radically different or radically disintermediate something. You’re listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let’s go. Mike Maples Jr. on AI We begin the discussion on the topic of challenges of making sense of the rapidly evolving field of AI. Mike also talks about the traditional funding model of startups, where the primary focus was taking out technical risk, and how the LAMP stack, which commoditized what was once expensive, made it easier to start a startup. Mike notes that the nature of the LAMP stack changed what startups were funded for. “What I like to say is that the LAMP stack was deflationary in terms of the cost of starting startup. And so what does that mean? It meant that what you were funding was different, because if Kevin Rose can start dig for $1,500, over a weekend, there's no technical risks there. I mean, he hired a contractor to do it that he didn't even know at the time.” – Mike Maples Jr.   Who gets Product Market Fit first The conversation then moves on to the changing dynamics of venture capital investment. The discussion continues with the notion that technical risk and market risk are inversely related. Solving a technically difficult problem that is valuable to society will create a market; if the problem is easy to solve technically, it will all come down to who achieves product-market fit first. To add value to the business, Floodgate and YC have taken the approach of funding market risk takedown. As technology becomes more commoditized and innovations become more accessible, the person who creates something people want the quickest wins. This is why YC was so successful: it offered young people $100,000 to either take market risks or leave. He also mentions that the traditional venture capital model may not be appropriate for all businesses and that deflationary factors such as content, code, and data may change the way businesses are built. Mike Maples Jr. on AI and the future of Venture Capital Mike Maples Jr. then returns to the topic of artificial intelligence and its implications for the future of venture capital. Here, Mike emphasizes two ends of the risk spectrum: high technical risk and high market risk. On the one hand, some projects require large amounts of funding for mass computation in order to build massive models that have the potential to change humanity. On the other hand, AI is being used in a variety of fields, including content generation for marketing, customer service chatbots, and lead generation, resulting in a deflationary effect on content, code, and data. According to Mike, some businesses may not require traditional venture capital funding and should instead focus on achieving $50 million in revenue with a small team and minimal funding. There is also speculation that the current billion-dollar funds may be providing the wrong incentives to these companies. To hear more from Mike Maples Jr. and how AI can affect the future of startups and venture capital, download and listen to this episode. Bio Mike Maples Jr. is an entrepreneur turned venture capitalist. He’s co-founder of Silicon Valley based, early-stage VC Floodgate. And the host of the popular “Starting Greatness” podcast. Investments include Twitter, Lyft, Bazaarvoice, Sparefoot, Ayasdi, Xamarin, Doubledutch, Twitch.tv, Playdom, Chegg,

Over the last three years or so, we've all been through one of the craziest most challenging times in modern history. On today's episode, we have a conversation with Liz Hoffman on how we can take stock of what just happened, and how we can master ourselves during a time of Crisis. Liz Hoffman is a legendary author and journalist. She used to be a senior reporter at The Wall Street Journal, and now she's a business and finance editor at the new startup called Semafor.com. She's got a riveting new book out that I really enjoyed, called Crash Landing: The Inside Story of how the world's biggest companies survived an economy on the brink. We’ll discuss more about this new book and much more in today’s Follow Your Different, so stay tuned. You’re listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let’s go. Liz Hoffman on the early days of the pandemic, and how we are today Liz and Christopher discuss the emotional impact of the pandemic's early days, which they regard as a global trauma. She then talks about how the emotional pitch of those days helped her set the emotional tone of her book's characters. Christopher reflects on the dramatic changes in the world since then, as well as his sense of loss for lost time and loved ones. Liz agrees and mentions a recent article on the pandemic's delayed reckoning with global trauma. They then talk about the bumpy re-entry into the world and the pandemic's lingering effects, of whether we are post-pandemic or not. Liz Hoffman on the ending that never came Liz and Chris discussed how they, like many others, had hoped for a clear endpoint to the COVID-19 pandemic, but that it had remained elusive. And for Liz, there was an added layer of it as a reporter, looking for a conclusion to her work, but it never came. Christopher mentioned how both parties were hoping for a Hollywood-style ending, but the emergence of the Omicron variant dashed those hopes. Liz Hoffman believes that, as humans, people prefer clarity and closure, but the pandemic has been a long-term experience that defies easy categorization. The pacing of Liz's pandemic book reflects this, as it begins with a frenzy before settling into a long and uncertain funk. What legendary leaders do in times of crisis Christopher then asks Liz for insight on how leaders can rise to the occasion rather than crumble under pressure. Liz believes that making a large number of decisions quickly and efficiently, without over-analyzing, can be beneficial. She cites the CEO of Hilton, who pulled their credit lines from banks in early March and received $2 billion to get them through the crisis. Liz emphasizes the importance of making decisions early and anticipating what will happen next, rather than getting bogged down in lengthy decision-making processes. She also points out that leaders should never run a multinational corporation on instinct alone, yet there is frequently unnecessary "process fat" in corporate decision-making that can be trimmed off. To hear more from Liz Hoffman and how to master yourself in times of crisis, download and listen to this episode. Bio Liz Hoffman is the business and finance editor at Semafor. Previously, she was a senior reporter at The Wall Street Journal, where she covered financial markets, corporate dealmaking, and the machinations of Wall Street. A native of central Pennsylvania, Hoffman graduated from Tufts University and the Medill School of Journalism at Northwestern University. She lives in Brooklyn, New York. Links Connect with Liz Hoffman! Semafor | Twitter | LinkedIn | Crash Landing We hope you enjoyed this episode of Christopher Lochhead: Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on iTunes!

How do you take a startup, or really any game-changing idea, from conception to launch and success in the new native digital world? And how do we connect and celebrate with our colleagues in this new native digital world? Our guest Doug Camplejohn, has given a lot of thought to both of those questions. Doug Camplejohn is the founder and CEO of Airspeed. And it has been remarkable to see how Doug and his team has stayed true to a true north vision to solving a problem that matters, but at the same time be super flexible in both thinking, product development, and marketing. With over two decades of experience in the tech industry, Doug has held leadership roles at some of the world's most innovative companies, including LinkedIn, Microsoft, and Salesforce. Pay special attention to Doug's wisdom about why the questions, “are you having fun?” and “do you care if you get fired?” are such powerful questions, and how they can affect a person’s business decision-making. You’re listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let’s go. Doug Camplejohn on how to create a Startup The conversation starts with Doug sharing his approach to creating a startup. Doug explains that entrepreneurs are constantly looking for patterns and problems to solve, and he keeps a "suck list" of bad things and ideas that stick with him. He believes in being firm on the vision but loose on the details, and that good ideas don't die but instead become something he can devote the next decade of his life to pursuing. Doug further explains that he and his team at Airspeed started with a clear goal in mind: to make employees feel more connected and celebrated, even if the details of how they got there changed along the way. The Trap of following the “Perfect Plan” The importance of having a clear problem direction rather than being solely focused on a product vision is further addressed by Christopher and Doug. They discuss how some entrepreneurs can become obsessed with a particular product idea and then struggle to pivot when it fails. Doug also believes in solving a problem that is personally meaningful and resonates with others, rather than chasing after the latest hot technology. He maintains that if the problem statement is genuine and resonates with people, the solution and approach to solving it can be flexible and evolve over time. Product Direction vs Problem Direction They then talk about the importance of having a problem direction rather than a product direction. They discuss how many entrepreneurs become too obsessed with a product vision and then realize they need to pivot one day. Because there are other factors to consider, from the top to the bottom of the organization. Finding a problem that is personally meaningful to the entrepreneur and resonates with others, according to Doug, is critical. They also discuss the difficulty of changing product direction and how it affects morale. Doug believes that taking a balanced approach, planning ahead of time, and breaking it down into smaller chunks, can help with flexibility and adaptation while still maintaining a clear vision. To hear more from Doug Camplejohn and how one could create a legendary startup from the ground up, download and listen to this episode. Bio Doug Camplejohn is an accomplished tech executive, entrepreneur, and startup advisor with over two decades of experience in the industry. He is the Founder and CEO of Airspeed, a platform designed to connect and celebrate employees digitally. Prior to founding Airspeed, Doug held several leadership roles at innovative tech companies such as LinkedIn, Microsoft, and Salesforce. At LinkedIn, he was the Vice President of Product Management for Sales Solutions, where he led the development of LinkedIn's Sales Navigator product. Doug also worked at Salesforce as an EVP and GM of Sales Cloud.

In good times and bad, every drop of revenue matters. Without it, none of us even has a business. On this episode, we have a riveting conversation about the past, present, and future of revenue operations with Andy Byrne – the entrepreneur, CEO, and category designer of revenue operations. Andy Byrne is the CEO of Clari, and is known widely in the industry as the prime minister of revenue. And right now, Clari is doing an extraordinary thing, and has become the category King in revenue operations. Pay special attention to Andy's insights into how boards and investors are now starting to focus on revenue governance. As you listen to Andy, you'll also be getting a masterclass in how a CEO can be an evangelist for their company, and their category. You’re listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let’s go. Andy Byrne on being the CEO of a Red-hot Company The discussion begins with Andy being asked about his experience as co-founder and CEO of a successful startup, particularly over the last three unusual years. Andy expresses excitement about the impact his company has made, including the creation of a new job category called Revenue Operations, which is now the fastest growing and most lucrative job in the industry in the United States. He also mentions how proud he is that their platform has managed over $1 trillion in assets. He believes they are only getting started and will have a significant impact on the world. How Revenue Operations and the rise of AI Andy describes how he and his team saw an opportunity in developing an enterprise system to manage the revenue business process from beginning to end. They saw revenue as more than just an outcome, but as a critical business process in need of a dedicated system. He is pleased with the effect their company has had on the lives of many people, particularly revenue-critical employees, and believes that this is only the beginning. With regard to AI, Andy is excited about the potential of machine learning and artificial intelligence to make a meaningful impact, citing an example of their system accurately predicting a healthcare life sciences company's $1.6 billion quarter within hours of being turned on. The Problem with the Three-Headed Hydra Andy then chimes in on importance of revenue and the challenges that companies face when using antiquated revenue management systems. He re-emphasizes that revenue is a business process, and it is the most important process in a company. Unfortunately, many businesses continue to rely on the three-headed Hydra: CRM, Excel, and BI, resulting in revenue leaks, reporting leaks, and inaccurate forecasting. Christopher shares his experience working with businesses that face unexpected deals in the final days of the quarter, which can be problematic if the company's forecasting is inaccurate. Andy agrees and stresses that using these subpar systems increases risk and should put a stop to investor interest in that stock. To hear more from Andy Byrne and how to avoid revenue leaks in your business, download and listen to this episode. Bio Andy Byrne brings over 20 years of experience in sales, marketing, business development and management to his position as CEO of Clari. Clari is the category leader in the Revenue Software Platform market, with over $1 trillion in revenue under management. Prior to Clari, Andy was part of the founding executive team at Clearwell Systems, which he helped grow from pre-product & pre-revenue in 2005 to $100 million run rate until its acquisition by Symantec (SYMC) in Q2 2011. Prior to joining Clearwell, Andy co-founded Timestock, Inc., which was acquired by Computer Associates (CA) via the acquisition of Wily Technology. Timestock delivered world-class enterprise application management solutions to large fortune 500 corporations. Before Timestock,

Over the recent past, we've all been through one of the craziest, most challenging times in modern history. simultaneously, we've had to negotiate all of these things, inside of the context of dealing with our personal lives, our businesses, our careers, and any life challenges that we may have had along the way. So we thought that it would be great to welcome back the legendary Amy Morin, for some much needed group psychotherapy. In less than a decade, Amy Morin has become one of America's most popular psychotherapists. She's just got that special quality. Amy is a person who is radically human, incredibly smart, empathetic, and surprisingly, approachable. Maybe that's why we think she's become America's top or one of the top Psychotherapist and a multi-time Bestselling Author. Her new book is out, and it’s called 13 things Mentally Strong People Don't Do Workbook. So in this episode, we dive into all that and find out ways to tactically bolster our own mental strength as we go along. You’re listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let’s go. A Quick Update on Amy Morin Amy has been a guest before in Follow Your Different, and since then she has written new things and accomplished so much more. While Amy has many years of experience and success as a psychotherapist and writer, she quickly found herself with new inspiration and multiple inputs when Covid struck the world. Given the mental strain of worrying about a pandemic, the additional factor of having to stay home and people being exposed to a plethora of terrible news on TV, as well as the helplessness of being unable to do anything, did a number on everyone. Amy realized that she was in a unique position of having the knowledge to assist and a way to share that knowledge through her podcasts and later, in print. As a result, she has written a few works on how to deal with mentally demanding situations and stress, and she recently released a workbook on how to boost one's mental strength. Mental Health Podcast or Therapy? Amy shares that sometimes, their mental health podcast turns into an impromptu psychotherapy session – not just for the guest, but as well as the listeners who are going through the same situation in their own ways. When asked about the difference between podcasting and her psychotherapy sessions, Amy admits that there are times that those two seem to blur together, yet she thinks it is important to keep a distinction. Sometimes, the therapist in me wants to respond one way, and then I'm like, but there's people listening. So you need to respond in another way. So I'm always very aware of that, like, ‘Oh, am I gonna respond to this a little bit differently. And I want to be empathetic’. But at the same time, I didn't want to open up a can of worms for somebody who forgets that this is a podcast. I don't want to ever make it seem like we're getting them to open up in a way to then take advantage of them.” – Amy Morin The importance of having a healthy amount of Not-Give-A-Shit Attitude We then talk about what it is like to have a public following, and how having a healthy amount of no-give-a-shit attitude helps wonders with their own mental health. Amy agrees with this, and shares that she recently did a podcast about the topic of bad mental health advice you might be getting in social media. She had wanted to explore the topic more, and even go so much as contact those who posted the now-viral meme “advice”. But she didn't go through with it in the end. At the end of the day, all she'd gain is a migraine from arguing with people who don't care. She would rather focus on her own inner peace and work on other topics for her own podcast. To hear more from Amy Morin and how to bolster your mental strength to take on the world, download and listen to this episode. Bio

Dr. Ashwini Zenooz, CEO of Commure and former chief medical officer at Salesforce and the VA, discusses the future of American healthcare. She highlights how outdated systems hinder care delivery and stresses the need for digital health innovations. Drawing from the pandemic, Dr. Ash emphasizes the importance of transparency and preparedness in public health. She also addresses controversies surrounding masks and vaccines, advocating for clear communication. Lastly, she reflects on the vital role of technology and dedicated partners in driving effective healthcare transformation.

Almost everybody wants to design a legendary life and make a difference, but it can be harder than it sounds. On this episode, you’ll get a very different conversation about designing a life with meaningful work that works for you. And who better to have this conversation than with our guest, Ollie Henderson. Ollie Henderson is an entrepreneur, CEO, and bestselling author of the book called “The Work/Life Flywheel”. He is a great guy, and we really get into a heartfelt conversation about how we can all design the legendary life for ourselves. By the end of this episode, we hope you’ll have some new tools for living your life, your way. You’re listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let’s go. Ollie Henderson on Work/Life Balance The conversation starts off with the two agreeing on how much they “love” work/life balance. Ollie responds that he had kept a few choice words in the book that his editor would rather not have, but it was important to the point Ollie was making. That being said, Ollie shares that his issue with Work/Life balance is just a term people used to oversimply a supposedly complex matter in our lives, mostly due to laziness and have something easy to adhere to, like a schedule or a task to do. “I think the thing about work life balance is that it's a lazy feeling that we all have. It's something we think we should adhere to. Like, ‘yeah, we should all have better work life balance’, and it kind of makes sense. It has the best intentions, but it's frankly, wrong. It doesn't make sense.” – Ollie Henderson Work vs Life Another thing that Ollie pointed out is that the semantics of the word is also all wrong. Work/Life Balance conjures up the image of you pitting up Work versus Life; that you cannot have both at the same time, and that one of them is better than the other. “I think when people say they aspire for work/life balance, what they’re saying is, ‘I am going to place work in life against one another, because work is bad and life is good. And if I can't find this equilibrium, then my life is not complete’.” – Ollie Henderson The issue is that statement is not true for every individual, and there is no one-and-done balancing to be done. Nobody has achieved that precise equilibrium, because it doesn’t work like a countermeasure of one over the other. Work/Life Flywheel Christopher adds that we have to reject the notion of work and life are compartmentalized in different sections, and we somehow need to balance them on weighing scales. There is only “Life”, and we do a lot of things in that life. So if not Work/Life Balance, what then? Ollie shares that there are some who use the term “integration” to add a new perspective to it. For him, he prefers to use the term “Flywheel”, because it entails that everything he does in life are interdependent of each other. “It's this idea that there isn't a single part of your work your life that is any more important than the other; they're all interdependent. For me, when I'm doing great work and I'm happy at work, I'm a better person, I'm a better dad, I'm a better partner. And when I'm a better partner and a better dad, that manifests more in my work.” – Ollie Henderson To hear more from Ollie Henderson and the Work/Life Flywheel, download and listen to this episode. Bio Ollie Henderson Experienced founder and CEO, Ollie Henderson, pivoted his career while juggling the pleasures and pressures of raising a young family. He believes work/life balance is a myth. Rather than seeing career and personal life as two opposing forces, Ollie argues that the secret is to design an integrated approach that allows them to work in harmony. Ollie's weekly newsletter and Top 10 Careers podcast, Future Work/Life, provides news and analysis to thousands of people interested in the future of work,

Have you ever had a conversation with someone where you feel very lucky to have been able to meet and talk to that person? My conversation with our guest, Dr. Simran Jeet Singh, felt like just that. Simran Jeet Singh, PhD is the Executive Director of the Religion and Society Program at the world-famous Aspen Institute. He's also the author of a new national bestseller, called The Light We Give: How Sikh wisdom can transform your life. You're listening to Christopher Lochhead: Follow Your Different. We are the real dialogue podcast for people with a different mind. So get your mind in a different place, and hey ho, let's go. Dr. Simran Jeet Singh on Sikh Wisdom The conversation starts with one of the major proponents that Dr. Simran shares to everyone, which is Sikh wisdom. He defines it as such: “I think Sikh wisdom is these experiences and insights that people before us have developed and we have access to if we want. And one of our choices is do we want to learn all the lessons the hard way, or do we want to step into these treasures that are already available to us. It is the Sikh philosophy and traditions that I didn’t really learn to appreciate until I got older and started meeting real challenges in my life.” –  Dr. Simran Jeet Singh Dr. Simran used these Sikh wisdom in moments of his life where he felt huge struggles and difficulties to guide himself into the person that he wants to be. The Challenges of being Different On such moment was when the events during 9/11 occurred, and the whole country was, in many ways, suffering a collective sense of trauma. It was a vulnerable feeling that people of the United States did not think they would feel. But the feeling of vulnerability was even more so for Dr. Simran and his community. “In this moment of extreme difficulty for our country, of extreme anger and violence, all of a sudden, I and people belonging to my community fell into the stereotype of how Americans saw their enemy. And so that, I think, is partly what felt so difficult in this moment: on the one hand, I felt like I was an American and belonged here and was going through the same trauma as everyone else. Yet at the same time, so many people around me, my fellow Americans would look at me and be like, “no, no, you're not one of us here.”” –  Dr. Simran Jeet Singh It hurts doubly for Dr. Simran, as he understands the pain and vulnerability that they are experiencing, as someone who has lived in the US for quite some time. But at the same time, the hate created by the almost-kneejerk reaction that some had afterwards was something that his community and others did not deserve, simply because they were different. Dr. Simran Jeet Singh on educating the masses Dr. Simran believes that this reaction is fear born from ignorance, and is something that could be remedied by educating the people on what the Sikh ideologies and culture really stand for. Sometimes, he would be surprised that an average American doesn’t know where Punjab is, let alone what a Sikh was. That gave Dr. Simran a sense of where he needed to start. Even before educating about the different cultures and ideologies, they might not even have an idea of where you came from, and they have been making assumptions about your culture based on the wrong information. To hear more from Dr. Simran Jeet Singh and Sikh wisdom, download and listen to this episode. Bio Simran Jeet Singh PhD is Executive Director for the Aspen Institute’s Religion & Society Program and author of The Light We Give: How Sikh Wisdom Can Transform Your Life. He is a visiting professor of history and religion at Union Theological Seminary and a Soros Equality Fellow with the Open Society Foundations, and in 2020 TIME Magazine recognized him among sixteen people fighting for a more equal America. His work has appeared in The New York Times, The Washington Post, and CNN, and he is a columnist for Religion News Service. Author of the award-winning children’s book Fauja Singh...

It's been a crazy handful of days in Silicon Valley. But now that the federal government has made their announcements and has the ball rolling, I wanted to spend a few minutes with you just clarifying some things that seem to be creating confusion in the recent Silicon Valley Bank situation. There seems to be more confusion about what just happened with the collapse of the Silicon Valley Bank and what the federal government just did as there was about COVID. So let me see if I can break this down for all of you. There is no Bank Bailout for the Silicon Valley Bank Let me say that again: there was no bank bailout here. The executives got fired. None of the investors, creditors, nobody doing business with the bank, in that sense, are getting any of their money back, particularly the investors in the board. The Silicon Valley Bank is gone. The Effect on the US Finance The President has said that this will not cost taxpayers’ money. You may choose to believe it or not, but that is the current position of the government on the matter. What they’re saying is if there’s any protection money required, it will come from the Federal Deposit Insurance Corporation (FDIC). The FDIC is an insurance company managed by the federal government, which is paid for by Wall Street and the banks. They pay insurance fees to the FDIC for drastic instances such as these. Making that point clear as soon as possible was a good move by the federal government, because if they have wavered in their decision to do so, twisted narratives about bank bailouts and conjuring the past instances of it happening would have been a bad blow to the US government's image. The Silicon Valley Bank Depositors will get their money back White there’s no direct timetable for when the depositors can get their full funds back, the federal government, via the FDIC, came in and said that they will make sure that the people will get 100% of their money back. Here’s where most of the confusion lie at the moment, because there are some who spin the narrative like this resembles the recent FTX crash. But unlike the FTX crash where the money is in large parts gone, the Silicon Valley Bank’s money is still there. The main issue at the moment is that there were some horrendous mistakes in investing the money, which caused it to be stuck and become inaccessible at the moment. So when a bank run happened, they didn't have enough cash. And that's what caused this. But the money is still there, unless we learn otherwise after the ongoing investigations. To hear more updates and suggestions on how Silicon Valley, the federal government, and the FDIC can prevent such a crisis from happening again, download and listen to this episode. Bio Christopher Lochhead is a #1 Apple podcaster and #1 Amazon bestselling co-author of books: Niche Down and Play Bigger. He has been an advisor to over 50 venture-backed startups; a former three-time Silicon Valley public company CMO and an entrepreneur. Furthermore, he has been called “one of the best minds in marketing” by The Marketing Journal, a “Human Exclamation Point” by Fast Company, a “quasar” by NBA legend Bill Walton and “off-putting to some” by The Economist. In addition, he served as a chief marketing officer of software juggernaut Mercury Interactive. Hewlett-Packard acquired the company in 2006, for $4.5 billion. He also co-founded the marketing consulting firm LOCHHEAD; the founding CMO of Internet consulting firm Scient, and served as head of marketing at the CRM software firm Vantive. We hope you enjoyed this episode of Christopher Lochhead: Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on iTunes!

Silicon Valley Bank’s collapse went off like a bomb on March 10th 2023. And I want to reach out to you and essentially share with you the conversations that I've been having with many friends, many entrepreneurs, many VCs, in the last 24 hours or so. That said, let's talk about what's really going on; specifically, what the media talking heads and idiot, ‘thought leaders’ on the internet are getting very, very wrong. Second, we’ll discuss a few ideas on what you can do immediately to shore up your situation if you are a Silicon Valley Bank customer, or even if you are working in the tech world. And then thirdly, let's talk about the crisis from the perspective of your company, and what you can do moving forward. The Silicon Valley Bank Collapse As of now, what is clear is that Silicon Valley Bank went down in part, because of some combination of getting caught in a cash crunch. It appears they made some bad long term bond decisions at low interest rates. And as you know, the US government has been raising interest rates from about 0.25% roughly a year ago, to about 4.75% now a year later. This has caught a lot of people off guard. This is not to say there wasn't a mistake on SVB’s part, but what we do know is that there were some combination of over investing in long term bonds, and the interest rates going up that aggravated the problem. Here’s a link to the Wall Street Journal article breaking all of what has happened so far. Media and Thought Leaders’ “thoughts” on the matter First of all, there’s a thread  growing around that says, “Oh, this is the billionaires in Silicon Valley doing corrupt things, and now they're getting their comeuppance.” This is not the case. If there was something incompetent or illegal that took place in the Silicon Valley Bank, we’ll find out once the investigations are done. But for now, it is affecting a lot of people in the space, and not just those billionaires they are harping about. This is not some cash crunch hurting billionaires. It is hurting the people who didn't get paid on Friday, because their employer just froze their bank. This is the entrepreneur who DM me on Twitter yesterday saying they have their entire 20 million of VC funding at SVB, and asking what they can do now. These entrepreneurs and CEOs don't know how they're going to pay their people, don't know how they're going to pay their bills. It appears that the FDIC is saying that people will get their guaranteed 250,000 on Monday, but over 90% of the deposits in this bank are in excess of that. So it's really not much protection. And while it seems that much of this money will come back to its rightful owner, it's not clear what percentage and in what timeframe. Running a business with no money is fucking hard. And that's what's going on here. To learn more about the Silicon Valley Bank situation and how your business can cope with crisis of this magnitude, download and listen to this episode. Bio Christopher Lochhead is a #1 Apple podcaster and #1 Amazon bestselling co-author of books: Niche Down and Play Bigger. He has been an advisor to over 50 venture-backed startups; a former three-time Silicon Valley public company CMO and an entrepreneur. Furthermore, he has been called “one of the best minds in marketing” by The Marketing Journal, a “Human Exclamation Point” by Fast Company, a “quasar” by NBA legend Bill Walton and “off-putting to some” by The Economist. In addition, he served as a chief marketing officer of software juggernaut Mercury Interactive. Hewlett-Packard acquired the company in 2006, for $4.5 billion. He also co-founded the marketing consulting firm LOCHHEAD; the founding CMO of Internet consulting firm Scient, and served as head of marketing at the CRM software firm Vantive. We hope you enjoyed this episode of Christopher Lochhead: Follow Your Different™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on iTunes!