The Silicon Valley Bank crisis could have mushroomed well beyond tech when Rippling, which distributes other companies’ payroll money, had its funds frozen.
. President Biden on Thursday called for the reinstatement of certain regulations on midsize banks that were rolled back during the Trump administration, including requiring them to hold greater stores of immediately available cash.
“My plan was just to PayPal people their paycheck amount if they needed it. And my other plan was, basically, figure it out later,” Laskey said. The next morning, a colleague woke him before dawn in San Francisco to say that reports of missing paychecks were coming in from the East Coast. The Rippling CEO then turned his attention to a bigger problem: finding money to cover the $415 million due by the following Wednesday. The payroll company didn’t have that much cash lying around, so it needed to raise it, fast. “We felt very strongly that it wasn’t our fault that SVB failed, but it was our responsibility. … Companies had sent us this money. We needed to make sure that it got to their employees.
Maxx Follis-Goodkind, director of Push/Pull, a small arts organization in Seattle, was receiving urgent emails from Rippling telling her to switch her banking codes to JPMorgan Chase — and complaints from employees that they hadn’t been paid.Follis-Goodkind considered her arts organization a world away from Silicon Valley. “We don’t have any digital products that we sell or create. … We’re trying to get people to paint and write and draw,” she said.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Esalen instructor talks about why Silicon Valley comes thereI'm an instructor at the Esalen Institute, a famous wellness retreat near Silicon Valley. Here's why tech executives flock to this oasis of 'transformation.'
続きを読む »
Silicon Valley Bank’s risk model flashed red. So its executives changed it.Silicon Valley Bank's rapid growth raised internal concerns that were overshadowed in a culture of executives driven to deliver profits, former employees say.
続きを読む »
Inside a $17.2 Million Napa Valley Estate With Gobsmacking Views of Wine CountryGet lost in the beauty of Napa Valley on this magnificent $17.5 million estate. With sweeping views of vineyards and mountains, this 7,800-square-foot palace is perfect for hosting guests. 🍷 NapaValley California vineyard
続きを読む »
Top 3 takeaways from Eric Newcomer's Cerebral Valley AI SummitDozens of AI enthusiasts gathered in San Francisco's Cerebral Valley for a summit on Thursday. Here are the top 3 takeaways from the event.
続きを読む »
Things to do: Skagit Valley Tulip Fest, UW Cherry Blossom Fest, Mariners & Mermaid FestLooking for something fun to do in the Puget Sound area this weekend? Check out these spring festivals, sports games and shows! FOX13
続きを読む »
Towering Monument Valley buttes display sunset spectacleA sunset spectacle featuring towering rock formations that resemble mittens played out this week at Monument Valley on the Arizona-Utah border
続きを読む »