If you are the CEO or CFO at a business who banks with SVB; here are some things you CAN do over the weekend
1. Build a 4 week rolling daily receipts and payments style cashflow forecast.
2. Gear up finance team to actualize & reforecast every AM by 10am
4. Redirect any future cash receipts / revenue into non SVB accounts. Don’t throw fresh money on the fire.
5. If SVB is your only current bank. Open accounts with 2 other AA or A rated banks.
a - showstoppers
b - pay if you can
c - don’t pay
You want as few a’s as possible, ideally none.
7. Find out how to get your $250k FDIC cash.
9. Communicate a salary deferral plan with your top team. CEO takes the most pain $ and %. Important signal.
11. Make a list of ‘survival headcount’. The bare minimum on which the business can operate.
You may need this to prioritize payroll later.
Build a simple “who, what, when, how much” list of actions and stick it on the wall.
14. Follow up the memo with a 121 call to each investor. Ask them to club into an emergency bridge.
Tough ask, but nothing to lose
Hopefully that’s wrong, but that’s your start point.
I’ll add anything else that might be useful.
Re: SVB crisis. Solid tactical list for CEOs and finance teams impacted. Additional items:— Rebecca Skvorc (@rebeccaskvorc) March 11, 2023
1. Consider factoring receivables
2. Consider asking customers to prepay for a discount
3. Put dates on key decision points
4. Confirm the date payroll is pulled (not paid to EEs) https://t.co/SqWoTpIzES
Thank you to @RobertMSterling for an unbelievably generous offer.
Not only this, he’ll do it wearing Jordan 1s. The full package.
DM him direct. https://t.co/8pxugXRGYE
SERIOUS POST:— Robert Sterling (@RobertMSterling) March 11, 2023
If you\u2019re a founder/CEO who banks at SVB and you don\u2019t have a CFO & a cash-flow forecast for the next 13 weeks, I\u2019ll work with you to build one ASAP. 100% pro bono.
I\u2019m an investor and SaaS CFO who has built countless of these. DMs open. Or [email protected].
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It is said that the one who bears the dust thrown from the hoof of Gaumata on his head, as if taking a bath in the water of the teerth sthalam and getting rid of all sins.
Ved and all other Hindu scriptures venerate the cow. The Vedic dictionary, Nighantu, gives amongst other synonyms of 'Gau' [ or cow] the words 'Aghnya', 'Ahi', and 'Aditi'.
Yaska the vedic decoder and commentator on Nighantu, defines these as-
Aghnya —— the one that ought not to be killed
Ahi —— the one that must not be slaughtered.
Aditi —— the one that ought not to be cut into pieces.
These three names of cow signify that this is an animal which should not to be put to tortures. These words appear frequently throughout the Veda in context of the cow.
But in due course the falsehood of killing cows spread far and wide and they became even more deep rooted when western scholars with their half baked knowledge of Sanskrit transliterated these interpretations of commentaries of Sayanacharya ,
An interesting story of Kamala Devi hazarika for all Sanatanis...🙏
A Xtian missionary was sent to Assam for the promotion of religion. His name was Cruz. He came across to one the boys from an influential family in Assam to teach him English.
The p@stor slowly began to study the house and he learned that the boy's grandmother was the most influential person in the house. So he thought 'Corrupting the grandmother's mind can make the whole family Xtian as well as the whole village.
The p@stor began to tell Grandma the stories of how J€$u$ cured leprosy of lepers, how He gave sight to the blind, etc..But after listening to him, the strong Sanatani grandmother said. A stone turned into a living woman (Ahalya) for our Rama when he touched the stone.
She spoke of Rama setu where stones floated in sea just by writing his name on the stones and that they are still floating today.
The p@stor continued his efforts but all his tricks went in vain.
One day he had brought a cake from the church and he thought of offering it to grandmother but he was doubtful that she would eat it. But contrary to his expectation, she took the cake and ate it.
When I took on my biggest marketing & events team to date (35 employees) I asked him how the *heck* he did it. Here's what he said and what helped me every day. 🧵
Remember you're leading all the employees under you, but you're not *managing* them all. You're managing your direct reports, which should be 5-7 individuals max. Focus on them.
When you interact with the employees you don't manage directly, get to know them as people first, that'll be the most valuable information in leading them. Remembering everything you learn about them is hard, but doing so will make you a superhero.
If you're not going to empower the managers under you, why do you have them? If you see room for improvement, let the manager know and let them make the change on their teams and come to you with questions/concerns. This will save you SO much time.
If you're the smartest person in any room - you're doing it wrong. As a leader, your job is bringing together the best people to get the job done - your skillset is identifying those people, not being one of them.
Hola! You can find it here. Original tweet by @SaveToBookmarks: "@AchuthArora @FitFounder @buzz_chronicles @rattibha Thanks bro!
This tweet has ...". Enjoy 👌
Hello! Pleasure is mine. Original tweet by @SaveToBookmarks: "@AnJamison @SethAbramson @buzz @buzz_chronicles @pdfmakerapp @Readwiseio @thread...". Cheers! 👉
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2/ “Being a VC” can mean a lot of different things, so it’s worth asking:
What actual activities do you want to do?
- Deep market analysis?
- Be in the flow of information and people?
- Make deals?
- Work closely w/ founders over time (e.g take board seats?)
- Manage capital?
3/ It’s worth specifying what type of VC you might like to become — as there are different archetypes. E.g.
- Benchmark (Lead series A/B - couple investments a year)
- First Round (Lead seed rounds, partner w/ a few companies a year)
- SV Angel (Make lots of seed investments)
Expa - Incubate companies
YC / Village Global - Build a platform to help entrepreneurs at scale
Do you want to join a firm or start one? There’s a lot to consider.
Different paths will require different skillsets & sets of experiences.
5/ Since the person who wrote the email is a young person trying to break into VC by joining a firm (and who doesn’t want to start a company), I’ll tailor this tweet storm to that goal. There’s some overlap.
These are turn-based wargames for windows 3.x, sharing the same engine.
Battles in a Distant Desert is from 1992, and is based on the first Iraq war (Desert Storm)
and Battles on Distant Planets is from 1991, and takes place in SPACE!
I'm pretty sure this is the one I played as a kid.
They've got 3 options to play with:
* Player vs. Player
* Player vs. Computer
* Computer vs. Computer
So it's a 0-2 player game!
They also did a DOS strategy game called "STARDATE 2140.2: GALACTIC CONQUEST" in 1990, but it seems to be lost.
All the games share an experimental AI system based on neural networks.
While main deity is Shiva as Kapartheeswarar, the kshetram is famous for Ganesha, known as Swetha/Vellai Vinayagar (white Vinayak)
During samudra manthan, Vasuki snake (used as rope) started spewing venom.
Unable to bear the intense heat, Devas rushed to Siva. He told them that this was because the task was started without getting Ganesha’s approval.
So the Devas created a Ganesha murti from white sea foam and worshipped it.
It was later taken by Indra to Indralok.
But once Indra had to come to Earth to pray to Shiva to seek relief from a curse inflicted on him. So he brought the murti of Ganesha with him. When he came here, he wanted to take bath before puja. So he gave the murti to a boy to hold for sometime. The boy was actually Shiva.
He kept the murti down and vanished. Indra could not lift it again and a divine voice told him to let Vinayagar stay there and visit every Ganesh Chaturthi to pray.
Since Vinayagar is made of foam, no abhishekam is done here. Only punugu is applied n camphor powder is sprinkled
Today, there are 500,000 young men missing from the U.S. workforce.
Research suggests video games & improved leisure tech plays a role in the problem. 👇 Thread:
Following the 2007 to 2009 recession, 25 to 34 year old men exited high school with fewer middle-skill job opportunities than years prior.
During this time, we saw an increased number of men living with parents & choosing unemployment over lower paying jobs.
It's estimated that 24M millennials live w/ their parents.
1 in 4 living in their parents’ home neither go to school nor work.
What's more surprising? 9 in 10 who lived with their parents a year ago are still living there w/ no plans to leave.
Economists are calling millennial men a lost generation.
According to economist David Dorn:
“If you get to the point where you’re turning 30, you’ve never held a real job and you don’t have a college education, then it is very hard to recover at that point.”
Economists suggest this choosiness is a generational trait.
Forbes interview w/ a high school educated man:
"I’m very quick to get frustrated when people refuse to pay me what I’m worth."
“People feel that they have choice nowadays, and they