Joyce

“Role of Finance and routine tasks will be done by automated algorithms and service specialists that include data scientists, storytellers, and cognitive psychologists” - Finance transformation in the making @marcolineyewear @byQuartzNetwork @pegafund #structureddata #moderncfo

2023 so far has certainly not been boring. 🎢 Despite a dramatic start to the year, there seems to be a cautiously optimistic outlook in the financial markets which is reflected by the VIX index and stock indices. While the macro environment certainly in…lnkd.in/efBAckkU

SaaS metrics provide leading indicators of Product-Market Fit and signals on maximizing ROI for Go-To Market. 👉🏼 Every SaaS leader needs to understand the underlying data and dependencies for these metrics, including how their…lnkd.in/eqJ_KF-x lnkd.in/e2JQ5__m

"Fractional CFOs help founders avoid making costly mistakes from the start. The fractional CFO had done a year’s worth of work in a few months." - Webflow As the world becomes more chaotic, we have been 'heads down' focused on mak…lnkd.in/gRb5MEWR lnkd.in/gjRCF_zN

The gov’t has about 48 hours to fix a-soon-to-be-irreversible mistake. By allowing @SVB_Financial to fail without protecting all depositors, the world has woken up to what an uninsured deposit is — an unsecured illiquid claim on a failed bank. Absent @jpmorgan @citi or @BankofAmerica acquiring SVB before the open on Monday, a prospect I believe to be unlikely, or the gov’t guaranteeing all of SVB’s deposits, the giant sucking sound you will hear will be the withdrawal of substantially all uninsured deposits from all but the ‘systemically important banks’ (SIBs). These funds will be transferred to the SIBs, US Treasury (UST) money market funds and short-term UST. There is already pressure to transfer cash to short-term UST and UST money market accounts due to the substantially higher yields available on risk-free UST vs. bank deposits. These withdrawals will drain liquidity from community, regional and other banks and begin the destruction of these important institutions. The increased demand for short-term UST will drive short rates lower complicating the @federalreserve’s efforts to raise rates to slow the economy. Already thousands of the fastest growing, most innovative venture-backed companies in the U.S. will begin to fail to make payroll next week. Had the gov’t stepped in on Friday to guarantee SVB’s deposits (in exchange for penny warrants which would have wiped out the substantial majority of its equity value) this could have been avoided and SVB’s 40-year franchise value could have been preserved and transferred to a new owner in exchange for an equity injection. We would have been open to participating. This approach would have minimized the risk of any gov’t losses, and created the potential for substantial profits from the rescue. Instead, I think it is now unlikely any buyer will emerge to acquire the failed bank. The gov’t’s approach has guaranteed that more risk will be concentrated in the SIBs at the expense of other banks, which itself creates more systemic risk. For those who make the case that depositors be damned as it would create moral hazard to save them, consider the feasibility of a world where each depositor must do their own credit assessment of the bank they choose to bank with. I am a pretty sophisticated financial analyst and I find most banks to be a black box despite the 1,000s of pages of @SECGov filings available on each bank. SVB’s senior management made a basic mistake. They invested short-term deposits in longer-term, fixed-rate assets. Thereafter short-term rates went up and a bank run ensued. Senior management screwed up and they should lose their jobs. The @FDICgov and OCC also screwed up. It is their job to monitor our banking system for risk and SVB should have been high on their watch list with more than $200B of assets and $170B of deposits from business borrowers in effectively the same industry. The FDIC’s and OCC’s failure to do their jobs should not be allowed to cause the destruction of 1,000s of our nation’s highest potential and highest growth businesses (and the resulting losses of 10s of 1,000s of jobs for some of our most talented younger generation) while also permanently impairing our community and regional banks’ access to low-cost deposits. This administration is particularly opposed to concentrations of power. Ironically, its approach to SVB’s failure guarantees duopolistic banking risk concentration in a handful of SIBs. My back-of-the envelope review of SVB’s balance sheet suggests that even in a liquidation, depositors should eventually get back about 98% of their deposits, but eventually is too long when you have payroll to meet next week. So even without assigning any franchise value to SVB, the cost of a gov’t guarantee of SVB deposits would be minimal. On the other hand, the unintended consequences of the gov’t’s failure to guarantee SVB deposits are vast and profound and need to be considered and addressed before Monday. Otherwise, watch out below.

PREDICTION: There's a mass extinction event coming for early & mid-stage companies. Late '23 & '24 will make the '08 financial crisis look quaint for startups. Below I explain when, why & how it will start & offer *detailed advice to founders* on surviving the looming die-off. /1

@robindchnt What happened? 😢

2y ago, I started the Future of Manufacturing Community. 1y ago, I handed it over. Today, it closed down. Thanks to everyone who contributed to it 🙏

More of this coming globally in 2023 and beyond: bloomberg.com/news/articles/… #dataintegrity #recessionproof

📊 2023 budget and scenario planning has been underway for many, and indeed it is one of the most important business exercises to complete over the next month or so. It is easy to say a SaaS scale-up should plan for 18-36 months of cash runway; however,…lnkd.in/eHb8wabr

How bad will the recession be? After analyzing revenue data from 27.2k companies: it's worse than we thought. - B2B getting hit hardest since '08 - Consumer $$ tanking What should you do? - 6 ways to not lose in recessions - 4 ways companies win in them Thread time 🧵

Crypto is wild 1. Everyone talks about how decentralization is the goal 2. Then FTX buys everyone 3. Then Binance buys FTX 4. So eveything gets hyper-centralized - but the people involved still talk about commitment to "a more decentralized global economy"

"The more you know, the less you need." This holds true in so many aspects of life, including #structureddata #businessintelligence to support planning for next year. In November, budgeting is underway for most companies and each…lnkd.in/eV9e-rXc lnkd.in/ecU-P_Hq

If you were to buy a fund that is the bottom 50% of Sequoia’s investments — you would almost certainly have negative return medium.com/unpopular-vc/a…

✌️Had such a great time last week at SaaStock in Dublin chatting about #ModernFinance #Financialplanning #RevOps and why & how COVID, SaaS and Cloud has accelerated the skills gap in 4 core areas: #revenuefirstefficiency #structureddata #moderntechtools #…lnkd.in/eNt-4GUQ

This photo was taken almost exactly 4 years ago in Dublin. 🍀 Very excited to be part of SaaStock's annual event (now 5K+ attendees!) and to head back to the city that first brought together the #EuropeanSaaS and #Europeantech communities over a decade a…lnkd.in/eYT4nRAP

"The best advice I was given is that a company can only grow as fast as its CEO. That advice has kept myself in a mode of constant learning, and I ask myself every day whether I am still the right person for the job." SaaStock Local Amsterdam last week…lnkd.in/eQPY6zc5

School's back and Q4 is just around the corner. 📌 Excited to be moderating the Amsterdam SaaStock Local taking place on Tuesday, September 20th. We will be hearing from @Khusya (CEO at Miro), @chrisobdam (CEO at Betty Blocks), @pmeutzner (CEO at Treng…lnkd.in/evqfBRaY

"If Canva is worth 40% less than last year, and the best public SaaS companies are worth 50% less than last year … how can your startup not also be worth 40%-50% less?" Is Every SaaS Company Worth Half of What It Was Last Year? saastr.com/is-every-saas-…

The new CFO is almost becoming a co-pilot with the CEO. In this McKinsey & Company article, it highlights some key role shifts since 2018 further accelerated by the pandemic: 1) Much broader digital skills needed, including stru…lnkd.in/eeTBaZvz lnkd.in/eD94vVAC

In this episode, @jLiuster, CFO and CO-Founder of @pegafund, talks about the pitfalls in the evolution of decision-making in startups and how you can be the CFO a high-growth business needs. Listen here : chargebee.com/champions-of-c… #ChampionsOfChange #CFOMindset #StartUps #Growth