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

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 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      
What’s going on at Silicon Valley Bank?! 
Silicon Valley Bank shoots self in foot      
Most corporate fraud goes undetected  

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Creators and Guests

David Leary
David Leary
President and Founder, Sombrero Apps Company
Paul Barnhurst
Paul Barnhurst
I am a total finance and Excel Nerd.
Silicon Valley Bank FAIL With Paul Barnhurst, The FP&A Guy
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