Paul Price

SaaS, Finance, Cash Management
Business, technology, and software development.

[Paul Price @pauldprice]

@DropboxSupport @pimpisaur So, it looks like you are still serving up the bad IP on your DNS. I checked TTLs and cache, should have been resolved by now if it was just cache.

[Paul Price @pauldprice]

@DropboxSupport It appears that you are having a major outage this morning, and the status page has not been updated to reflect that. I see that there was system maintenance last night, perhaps something went wrong? When will DropBox Sign API and dashboard be back?

[Paul Price @pauldprice]

@DropboxSupport @pimpisaur When I do a dig using 8.8.8.8 or 1.1.1.1 or 208.67.222.222 on https://t.co/rwkEcg7K2a +short
https://t.co/b4PwP8UKsc. 162.125.13.18

[Paul Price @pauldprice]

@pimpisaur @DropboxSupport If you are getting IP 162.125.13.18 then you are one of the unlucky ones. If you can modify your host file temporarily to point it at 162.125.1.18 for https://t.co/rwkEcg7K2a - it might start working for you.

[Paul Price @pauldprice]

@pimpisaur @DropboxSupport Some of our customers and employees can access https://t.co/qPBbP8sQN6 and others cannot. We suspect that in their release last night they dropped one of their IP addresses, but that change hasn't properly propagated through DNS yet. Run nslookup https://t.co/rwkEcg7K2a

[Roy E. Bahat @roybahat]

And I expect next YC class to have a few treasury management startups...

[Paul Price @pauldprice]

@DavidSacks Easy to argue with. You (VCs) should be advising your portfolio companies to not keep millions in checking accounts. It's called CASH MANAGEMENT. Hire a competent cash manager and put it in a custody account. Own your duration/liquidity management. Don't blame govt and banks.

[Paul Price @pauldprice]

@KeepStdTime @cwillis2018 @DavidSacks You don't! Do you think that's how Google and Apple do it? Of course not. You hire a cash manager and put your money in a CUSTODY bank (not a checking account). People that don't understand cash management shouldn't be talking about raising FDIC limits.

[Paul Price @pauldprice]

@BillAckman You are right that we need to fix the system. This isn't a government problem, it's a problem with VCs and board members not knowing the difference between a checking account and a custody account. Hit me up if you want to talk about the real solution.

[Paul Price @pauldprice]

@nealkhosla This is why I've been pitching VCs a Treasury as a Service SaaS platform (which they haven't cared about until now). The answer is much easier than most people assume and it has nothing to do with new regulations or increasing FDIC limits.

[Paul Price @pauldprice]

@danprimack Dan, can you please talk about how "real" companies/treasurers manage their cash and don't put it in glorified checking accounts? It is time for VCs and startups to rethink the way they treat their LPs' investments.

[Paul Price @pauldprice]

@paigecraig Great news! Now, do you want to talk about how to keep this from happening again? And, no, the answer isn't to increase FDIC insured amounts. If you are serious about protecting your portfolio companies' cash (and your LPs' investments) - let's talk about actual cash managemnt.

[Paul Price @pauldprice]

@devahaz Actually, it isn't stupid. FDIC isn't meant to protect giant deposits. It is for the mom and pop businesses and individuals. If you have millions in operating capital you don't put it in a checking account. That's absolutely stupid. Google "Custody Account".

[Paul Price @pauldprice]

@loganbartlett @oyvindreed @zachweinberg If you want to talk to people who understand the right way to manage millions of $ in operating capital, I can hook you up with treasury and cash management professionals who do this stuff for Google, Apple, etc. They aren't depositing their cash in glorified "Checking Accounts"

[Paul Price @pauldprice]

@sweatystartup I agree, startup founders aren't expected to understand treasury/cash management. But their investors and board members should! Rule #1 don't put millions of dollars in an uninsured checking account. If you are a VC/board member and don't understand that, shame on you!

[Paul Price @pauldprice]

@DavidSacks Your poll is offering a false dichotomy. The question isn't "Which checking account should I put millions of dollars in?" It is - how do you properly manage operating cash with cash managers and custody accounts. Forget the commercial banking account for $250K+ deposits. Own it!

[Paul Price @pauldprice]

@aap_twak @VivekGRamaswamy It's called a custody account, and cash management. You own securities, you have an investment policy. You don't trust some regional bank to invest millions of dollars in a black box. Why do people assume $250K FDIC accounts are meant for millions in operating capital?

[Paul Price @pauldprice]

@amuse @VivekGRamaswamy If you have $400M in operating cash sitting in a checking account?? You should have already hired a treasurer who knows how to do cash management like the big kids. You think Apple and Google have their operating cash sitting in some commercial bank?

[Paul Price @pauldprice]

@DavidSacks I'll bet more than half (most) of the deposits (by number not dollar) in the US are less than $250K. So, they are probably trustworthy. You screwed up by letting your portfolio companies put millions in a CHECKING ACCOUNT!

[Paul Price @pauldprice]

@DavidSacks I don't expect most depositors (e.g. startups) to understand the incredibly risky behavior they DID engage in. But, you as a board member should know better. Do you think Apple and Google put their operating cash in any bank's money market fund? Of course not! Nor should you!