This podcast discusses Apple's category design strategy and their recent announcement of Apple Vision Pro as a spatial computer. It emphasizes the importance of marketing a category rather than just a product and explores the impact of category design in technology products. The podcast also highlights Apple's strategy of declaring new categories and building ecosystems.

On this episode, we are presenting some Pirates Perspective from our newsletter, Category Pirates. Eddie Yoon and Christopher Lochhead of Category Pirates answer questions about how important it is to create a category name that resonates with people—and that is similar enough to everyday language. Languaging takes thinking, but it’s worth getting right. Welcome to Lochhead on Marketing. The number one charting marketing podcast for marketers, category designers, and entrepreneurs with a different mind. The importance of a Category Name entering the mainstream The first topic comes from a question about the importance of having a category name, and how important it is to be relevant enough to be used in everyday speech and lingo. Eddie points out that it is every important and a great deal to have one’s category name be something recognized by the public, particularly the target consumers, while striking a balance of being unique and different from the rest. An example he gives is Starbucks, which is in the “Dessert Coffee” business. While they might not outright say that they are in such as business, how they portray their products is perceived by consumers as such. And they capture that particular market by Languaging, creating something new like the Frappuccino. Having your Category Name make a mark in people’s minds Continuing along that line of thought, Eddie Yoon emphasizes that it is not only important to create something new, but it is also important that people find it relevant and want to engage with your product or service. Going to the example of Starbucks again, people have had coffee before, but they have not had dessert coffee. And say what you will, Frappuccino is essential a liquid sugar bomb in a cup, which a lot of people find more interesting than your regular latte or cappuccino. And where can you buy this Frappuccino? That’s right, Starbucks. Nowadays, there are numerous coffee shops that use the term, but whenever one thinks of Frappuccino, Starbucks is one of the first things that come to mind. And that is how you make a mark in people’s minds. Combining Ideas to make a new innovative Category Idea Christopher Lochhead then brings up the topic of combining two or three ideas to make a new Category Idea. Sometimes, those ideas can even clash with each other individual, but makes sense when you combine them. An example of this was Sun Microsystems, which went all-in for networking earlier than everyone else. While people are still using their computers as standalone units in business, Sun Microsystems have been selling servers and advocated for business to build a network for their office PCs. They even have their own networking software called Solaris. So while the business people in the 90’s finally had their delayed A-ha! moment, Sun Microsystems have already carved up a sizable chunk of the market for themselves. To hear more about these Pirates Perspectives, download and listen to this episode. And if you like to hear more Pirates Perspectives, you can find it and other buried treasures when you subscribe to our Category Pirates newsletter. Don’t forget to grab a copy (or gift!) of one of our best-selling books:  Snow Leopard: How Legendary Writers Create A Category Of One  The Category Design Toolkit: Beyond Marketing: 15 Frameworks For Creating & Dominating Your Niche  A Marketer’s Guide To Category Design: How To Escape The “Better” Trap, Dam The Demand, And Launch A Lightning Strike Strategy We hope you enjoyed this episode of Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on iTunes!

On this episode of Lochhead on Marketing, 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. Welcome to Lochhead on Marketing. The number one charting marketing podcast for marketers, category designers, and entrepreneurs with a different mind. 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, Demandforce, Rappi, Smule, and Outreach. Link

On this episode of Lochhead on Marketing, myself and Eddie Yun, co-founder & co-creator of Category Pirates, tackle what's going on with what Elon Musk is now doing at Twitter; specifically, the move to charging people for their Validation Verification– once coveted, now purchasable – Blue Checkmarks. This is part of a new thing we're doing with our Category Pirates newsletter called Pirate Perspectives. So if you are interested and haven’t subscribed to Category Pirates yet, now’s the best time to check it out. Welcome to Lochhead on Marketing. The number one charting marketing podcast for marketers, category designers, and entrepreneurs with a different mind. Twitter removes the Blue Check. Kinda. The conversation starts with Christopher and Eddie Yoon discussing Twitter's recent decision to remove Legacy Blue Checkmarks and only allowing verified accounts for those who pay. Eddie argues that this move is a step towards aligning Twitter's incentives with its users by making them pay for the service rather than monetizing their data through an advertising model. However, he suggests that Twitter could offer a tiered pricing structure to accommodate different budgets. The two acknowledge that this move has caused a lot of controversy, with some users upset about losing their Legacy Blue checkmarks, while some are given Blue checkmarks even though they didn’t ask for one. Christopher mentions that Elon Musk paid for verified accounts for Stephen King, LeBron James, and others, and they are angry about the change given their prior stance about it. Elon Musk and the missed opportunity with repurposing the blue checkmark Christopher and Eddie then talk about the recent decision by Twitter to remove the blue checkmark verification for some users. Christopher mentions that he appreciates the verification process before because it helps him identify real people on the platform. They also discuss the success of OpenAI's GPT chat and the importance of delivering a valuable user experience. Eddie agrees and mentions that incentivizing creators can improve the overall ecosystem by improving content and reducing fraud. They agree that Elon Musk and Twitter missed an opportunity to position the repurposing of blue checkmarks as an improvement to the user experience rather than a takeaway. To hear more about these category pirates’ hot takes on what is happening to Twitter and the social media space, 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. Don’t forget to grab a copy (or gift!) of one of our best-selling books:  Snow Leopard: How Legendary Writers Create A Category Of One  The Category Design Toolkit: Beyond Marketing: 15 Frameworks For Creating & Dominating Your Niche  A Marketer’s Guide To Category Design: How To Escape The “Better” Trap, Dam The Demand, And Launch A Lightning Strike Strategy We hope you enjoyed this episode of Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on iTunes!

This Lochhead on Marketing episode is a short one, almost like a bedtime story with Uncle Lochhead. I recently did a post on LinkedIn that blew up in a way that I didn’t quite expect. It was meant to be a humorous post about Marketing, but it seems to have cut quite deep in some, and others found it relatable. I thought it would be fun to read to you so we could share a few chuckles about it. Welcome to Lochhead on Marketing. The number one charting marketing podcast for marketers, category designers, and entrepreneurs with a different mind. The Conversation CFO to CMO: “Our revenue is going down, so we must cut your marketing budget” CMO: "I’m confused, Marketing is how we drive revenue?” CFO: “The macro environment is tough and we need to cut costs.” CMO: “But, Marketing is how we drive revenue?” CFO: “Yes, but Marketing is the fastest and easiest way to cut costs!” CMO: “But, if we need revenue, don’t we need Marketing more than ever?” CFO: “Not sure what they’re teaching today at Marketing MBA school, but we’re cutting your Marketing budget 30%.” CMO: “OK, so when revenue goes down, the best strategy is cut Marketing?” CFO: “YES! I believe you’ve got it!” To check out how people reacted and responded to this “conversation”, check out the post on LinkedIn. If you like this and are interested in joining different business and marketing conversations, join us at Category Pirates today! 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 Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on iTunes!

Pirate Lochhead is sailing the seven seas this week, so we’re dropping a legendary conversation that he had recently with Mike Maples Jr. and Ann Miura on the Starting Greatness Podcast. They discuss the recent SVB bank run that lead to a variety of situations and accusations by “experts” on social media. They also discuss what lessons a Founder can learn by studying the cause and effect of such crisis and circumstances. Welcome to Lochhead on Marketing. The number one charting marketing podcast for marketers, category designers, and entrepreneurs with a different mind. How a crisis can make us better Mike opens up the discussion by stating that while crisis is something we do not wish to happen on anyone, it can be a valuable source of information and introspection on what Founders can improve upon within their own companies and organizations. No one saw it coming Ann Miura shares that the SVB bank run has caught her completely unawares, as did most of the companies in Silicon Valley. Even those who had their teams monitoring SVB activities only caught wind of the situation a day or two before it happened, and by then it was already too late even for them. The Difference between the Public and the Founders Ann also observed that while people on social media and the news media are shouting doomsday scenarios and blaming each other over the situation, the Founders that she was working with at Floodgate had their head down and was busy finding ways to mitigate the situation, and looking at possible scenarios to move forward, should the SVB run not get resolved in the near future. It showed a stark contrast on how the mind of a Founder operates in crisis situations, and it should be something that a lot of business leaders should emulate if they themselves suffer through a sudden situation that needed their immediate focus and levelheadedness. To hear more from Mike Maples Jr. Ann Miura, and the Pirate Lochhead himself, download and listen to this episode. Check out more Starting Greatness episodes! 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 Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on iTunes!

There is a fundamental tectonic change happening in the way work gets done – White Collar knowledge work to be specific. This new technology is creating a new category of worker beyond what has been the sort of top of the pyramid, the Knowledge Workers. There's a new layer above the Knowledge Worker emerging called the Creator Capitalist – someone who gets paid not simply to apply knowledge, but to create it. And that's because the value of existing knowledge is dropping exponentially every day with the emergence of AI. Today, let's talk about how this is already becoming a radically different future right in front of our eyes, powered by chatGPT. What is ChatGPT? ChatGPT is the fastest growing application or website in the history of humanity by quite a lot. And while there are users that only see it as a minor amusement at the moment, people have been heavily using it for their jobs and businesses already. There are entrepreneurs, writers and other related enterprises that use it to write newsletters, blog posts, and even outlines for book ideas. Of course, you don’t just put it the prompt and take the ChatGPT output as it is. While it is doing a pretty good job, even with niche-y things, there’s still room for improvement, as well as giving it the old human touch. But the biggest thing here is, it saves people time. Time that could be better spent on improving other aspects of your business. How ChatGPT can innovate your craft In  terms of creating content, whether it be an blog article, newsletter, or marketing content, there is so many ways you can take advantage of this technology. As mentioned earlier, you can use it to write first drafts to flesh out an idea you have and refine it afterwards to make it more unique and correct stuff that seem off-point to what you had in mind. You can also use in something as simple as improving the readability and format of the thing you’ve already written beforehand. You can even use ChatGPT to learn new things before creating your content by providing it with sources and different templates on which to base the content you intend to create later. The AI is as smart as you make it to be While the AI has a lot of capabilities that it can do, it all still boils down to how we use it. An example would be the prompts that we give ChatGPT to execute. Being too vague or general with your prompts can yield confusing and subpar results, as multiple users have observed. So it is best to do some research from prompt engineers on how to maximize the results of your requests to the AI, so you’ll get the best quality of content or feedback all the time. To learn more on how you can use ChatGPT and other AI technology to create content and code, 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. Don’t forget to grab a copy (or gift!) of one of our best-selling books:  Snow Leopard: How Legendary Writers Create A Category Of One  The Category Design Toolkit: Beyond Marketing: 15 Frameworks For Creating & Dominating Your Niche  A Marketer’s Guide To Category Design: How To Escape The “Better” Trap, Dam The Demand, And Launch A Lightning Strike Strategy

Pirate Lochhead is sailing the seven seas this week, so we're dropping a legendary conversation that he had recently with Anna Furmanov on the Modern Startup Marketing podcast. They discuss creative marketing category design, guns, human composting and more. Yes, human composting. Just… listen, trust me. Welcome to Lochhead on Marketing. The number one charting marketing podcast for marketers, category designers, and entrepreneurs with a different mind. What does “Creative” mean to you? The conversation starts off with Anna asking for Christopher’s definition on being a creative. Christopher shares that in order to consider something as being “creative”, it has to be something new. “Being creative is bringing into being something that did not exist. You can take an existing thing and innovate on top of it and create something new. But at the end of whatever the creative process is, it yields a new creation. And sometimes that's a doodle on a page. And sometimes it's a new piece of code. There's lots of different acts of creation that bring new things into the world. But fundamentally, I think creation is about exactly that.” – Christopher Lochhead On when you feel the most creative Continuing on the topic of creativity, Anna asks when Christopher felt the most creative, whether its on a specific project, a certain period of time, or something else entirely. “So for me, creativity, really at a high level, comes in two ways. One is just pure inspiration. Right – you're out on a walk, you're washing the dishes, you're in the shower, your whatever it is you're doing, an idea comes into your head. Because I'm a writer, I get sentences delivered to my head, and/or power ideas hiding in paragraphs. And then I'll have to immediately get to a piece of paper or my iPhone and write that shit down. That can happen anytime, all the time. My wife will see me running across the house to grab a pen or to grab my phone and start talking to it, so I don't forget the idea.” – Christopher Lochhead Thinking about thinking One of the things Christopher pointed about how people perceive thinking is that they misconstrue having thoughts as “thinking”. Having thoughts just means an idea or a thought that pops in your head, without much effort put into it, almost like a kneejerk reaction. Thinking, on the other hand, is actually taking that thought and processing it. It’s the suspension of that immediate and reflexive thought that one can really get into deeper details of the topic, and even find out why it elicited that sort of reaction from you and other people around you. To hear more from Christopher Lochhead and his conversation with Anna Furmanov on the Modern Startup Marketing Podcast, download and listen to this episode. Check out more Modern Startup Marketing Podcast episodes! 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 Lochhead on Marketing™! Christopher loves hearing from his listeners. Feel free to email him, connect on Facebook, Twitter, Instagram, and subscribe on iTunes!

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. Welcome to Lochhead on Marketing. The number one charting marketing podcast for marketers, category designers, and entrepreneurs with a different mind. 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 Lochhead on Marketing™! 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. Welcome to Lochhead on Marketing. The number one charting marketing podcast for marketers, category designers, and entrepreneurs with a different mind. 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 Lochhead on Marketing™!