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Help Wanted

This Founder's Funds are Frozen at Silicon Valley Bank. Here's Her Crisis Management 101.

Help Wanted

Money News Network

Education, Business, Self-improvement

4.7441 Ratings

🗓️ 14 March 2023

⏱️ 19 minutes

🧾️ Download transcript

Summary

What if all of your money vanished overnight? That's the reality for founders who banked with Silicon Valley Bank, a popular institution for startups, that crashed late last week. Today, Nicole talks to a founder who is in the trenches trying to get her money back from SVB. This conversation is a masterclass in how to deal with a crisis at work, rally help from unlikely sources, and communicate the hard sh*t.  To hear the full backstory of SVB's rise and fall, click here: https://link.chtbl.com/LGNLVGjv To read more about obé Fitness, click here: https://obefitness.com/

Transcript

Click on a timestamp to play from that location

0:00.0

Hey guys, it's Mimi Webb. I'm the new brand ambassador for Maybelline. Make up your mix with the glow-up playlist and shuffle your looks with my favourite Maybelline products.

0:11.0

The new Call of Tatoo eyeshadow sticks only at SuperDug.

0:16.0

This is Help Launtine. The show that tackles all the big work questions you cannot ask anyone else.

0:29.0

I'm Jason Feiffer, Editor-in-Chief of Entrepreneur Magazine.

0:31.0

And I'm New York Times' bestselling author and money expert, Nicole Lapin.

0:35.0

The Help Line is open.

0:38.0

The big headline in Financial News this week is the fall of Silicon Valley Bank or SVB, a big bank that catered mostly to startups.

0:47.0

If you want to hear that story more in-depth, I did an episode on my other podcast Money Rehab, which I linked in the show notes.

0:54.0

Today for Help Wanted, I'm taking over and doing a solo episode where I'm speaking with a founder who banked with SVB.

1:02.0

Ashley Mills, co-founder and co-CEO of Obey Fitness.

1:05.0

As you're about to hear, it has been quite a tumultuous week for Ashley.

1:10.0

This conversation, though, is a masterclass on how to deal with a crisis at work, how to rally help in unlikely sources, and how to communicate some really hard shit.

1:21.0

Here she is.

1:24.0

Ashley Mills. I was going to say Ashley Davis because I know you for that long.

1:29.0

Thank you so much for having me, Nicole. It's been like a minute since I've seen you and had congratulations on the network.

1:34.0

Thank you and congratulations on Obey and I want to get to all of that.

1:39.0

But should we tell our listeners how we know each other?

1:42.0

Sure.

1:43.0

It goes all the way back to your maiden name and also a decade ago?

1:49.0

More than a decade ago.

1:50.0

I think he was more than a decade ago.

1:52.0

We were babies.

...

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