Silicon Valley Bank FAIL With Paul Barnhurst, The FP&A Guy

Episode 323

Guest: Paul Barnhurst, The FP&A Guy; Corporate frauds go undetected; Xero lays off 800; IRS process had a 20X improvement, and more!

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(00:00) - E323
(00:23) - State regulators shut down Silicon Valley Bank
(00:52) - Introduction and some thoughts on their Ken Bishop interview
(04:33) - Some background on Paul
(09:29) - Silicon Valley Bank is in trouble
(13:45) - How banks work and make money
(16:50) - Blake shares a tweet from a listener
(18:04) - Almost all corporate fraud goes undetected
(23:21) - News breaks that SVB has been shut down
(27:43) - Fireball sued for whiskey fraud
(30:51) - Ramp raises $5 million to build expense tracking
(37:10) - ChatGPT used to recover over $100k in unpaid invoices
(43:11) - FinTech failures and Xero's layoffs
(47:29) - Startup CFO used Chat GPT to create FP&A tool
(52:41) - Which GL will embed AI first?
(55:24) - Randomly assigning auditors to companies improves their quality
(57:58) - The IRS has already scanned 20 times more documents than all of 2022
(59:15) - New commissioner of IRS approved
(59:46) - Wrap up and where to reach everyone

Show Notes

Xero to lay off up to 800 staff as tech downturn spreads to accounting

IRS expands digital processing

Senate approves Werfel as IRS chief

Reshaping Xero to enable disciplined growth and focus

Bill.com Holdings: QuickBooks Flips From Asset To Serious Threat ...

Ramp Raises $5 Million for User and Revenue Forecasting Platform

The Week That Broke the Bank for Crypto

FinTech Cash Burn Totaled $12 Billion in 2022

Podcast Episode Details