HN user
You have this flipped. Expense management systems with embedded company cards are an order of magnitude easier to managed and reconcile than dealing with thousands of employees' personal expenses and payouts
In an all cash deal the Vendor (buyer) will purchase all shares of the Target (seller) for cash and cancel those shares. A substantial amount of the cash will be held back in escrow subject to a number of clauses and released at a future date.
This will protect the buyer against misrepresentations.
There are often also targets that have to be met to achieve the full purchase price but not always disclosed
Yes, this is something I have observed, for whatever reason sf-techies don't like capital letters or sentence case.
I have the opposite problem, we have just finished a massive amount of AWS credits from our VC and unfortunately cannot stack these. Any advice on how to get more credits?
It's funny cause there wasn't nearly the backlash when mcdonalds implemented the self-order digital kiosk, which completely eliminated jobs
this is absolutely not true, I know engineering managers with around 5-7 years of total experience ( aka people under 30 ) making $400,000 CAD in cash compensation at shop. They recently did a cash/equity split where employees could choose their split and not a huge surprise many chose the maximum cash
there are no government engineering positions in Canada paying anywhere close to this
It's great to see the market for $20m pre-revenue Series A has come back :D
this is a hard problem and will require an enterprise solution unfortunately. If its only 2000 pdfs you might be better outsourcing to an off-shore consulting agency to do it manually
Yes the solution i worked on had an interface for HITL
I've worked extensively in this space. For those looking for just an OCR solution MSFT's offering "read" is by and far the most accurate. Key-value, table and other information extraction is a much harder problem. Anything that can go wrong in production will. Documents with extra pages, rotated, blacked out, fuzzy. There are many steps that go into making document extraction really e2e.
The biggest enterprise users are doing thousand+ of pages a minute and also turn document extraction into a scaling distributed systems problem
Won't comment directly on the strange rant.
But it highlights the reality that something has seriously changed since the pandemic. I have multiple employees that insist on staying home due to their dogs. The amount of discussion around employees' dogs is on another level now, partially due to the anxiety these dogs have when their owners go into the office.
It's all very different than prepandemic, I for one never heard "i need to work from home to stay with my dog" as something people used to say
A lot businesses that we use daily (uber, airbnb, wework) which are great products would never have made it under today's environment. Not a comment on if this is good or not, just an observation that the Fed indirectly funded innovation. These companies might be questionable businesses, but have products people love.
I wouldn't call this a slight negative
My business has 8 figures in the large canadian banks. I have had no problem sending all of it from institution to institution in single wires. Businesses can definitely move money at once.
The banks have corporate customers sign a number of complicated forms to put limits on things like who can wire, who can sign, who can weite cheques etc.
There are further controls in the online corporate banking
Customer of FRB. My banker was quick and responsive to some tech support I needed. Didn't seem panicked at all. Just my perspective, take it for what it is
For people not directly involved in this mess - it's hard to describe how herdy the SV echo chamber is. Imagine your high school politics with 100x the ego 1,000,000,000x the money.
In the matter of hours every major VC on my cap table was texting/emailing me about the situation on thursday. Half saying no reason to panic the other half screaming bloody murder. The asymmetric outcome here of keeping vs moving was obvious, assuming you already had another bank account open and the ability to quickly move payroll/ap over. This gets much harder the larger you are.
I will miss the SVB sponsored events
Happy SVB customer (until this week) for my venture backed startup.
The big banks refused to even open an account for my startup. Our business model is incredibly common but due to it being "fintech" we could not open an account.
SVB still had a decent amount if KYC stuff and paperwork but would allow us to operate.
Another banking platform we used literally reversed the incoming wire from our lead seed investor, even though i called the bank before telling them to expect a large deposit.
SVB was great to work with. The people are fantastic. The big banks on the other hand...
this is definitely happening (context series A founder from t1 VCs)
Every VC is talking to their portfolio companies right now about this. Text/slacks/emails. Half of them screaming panic telling founders to pull money out, the other half holding the line to stay strong
Most founders i know arent taking the risk and moving money...
this was due to low interest rates and savings/stimmies not anything about remote work
Not advocating for the influx of "crypto bros" and "digital nomads" but to blame the current wave of inflation on them is a bit ridiculous
Maybe it's just me, but I don't exactly consider this lying, with all the negative connotations. It's just applying pressure.
No different than a b2b SaaS salesperson saying they need to close a deal by x date to receive a "special" discount. It's all made up, it's just part of the game
Founder of a Series A company. Just give them the equity which should be in the form of options at this stage, which they will need to choose to exercise. If shares still give it to them.
If you don't people will gossip and hurt employee moral.
As for effect on cap table, theres no issues with a former employee having some common shares. If you raise money it will likely be in the form of preferred shares.
Find a better way to indentify under performers earlier so it doesn't drag out to this point
Yes, it's an inflationary effect for sure - deglobalization
These are different technologies with different use cases. FDB typically is used when there are strict ACID requirements.
Apple uses both
Main thing is to shred the cheese before so it melts evenly. If you want to "press" it but don't have a press, put foil on top and then weigh it down with a can
The Fish That Ate the Whale by Rich Cohen is a great book about the banana industry and government
As the Japanese economy took off a more western style diet was adopted, with a stronger focus on meat. As well sausages are typically lower quality/cheaper protein so an increase in wealth would correspond with a move away from sausages.