First published
Feb 17, 2018
Total Episodes
Average duration

Build Your SaaS – bootstrap in 2021

Business Technology Marketing

This would kill our company immediately

<p>Jon's back from his first real vacation in years. In this episode, we discuss how we've been removing inactive accounts on Transistor, SVB, Section 174, Revin is shutting down their Merchant of Record service, SaaS sales tax compliance:<br></p><ul><li>(00:37) - Jon in vacation mode</li> <li>(02:35) - Kicking off inactive accounts</li> <li>(04:35) - Silicon Valley Bank</li> <li>(06:11) - What is Mercury bank?</li> <li>(13:21) - Section 174 in the USA</li> <li>(19:23) - Sales tax compliance update</li> <li>(26:14) - What could we do?</li> <li>(32:31) - Patreon integration update</li> <li>(35:15) - MyPodStudios</li> <li>(36:52) - Patreon Thanks</li> </ul><br><strong>Links:</strong><ul><li>Matt Levin's <a href="">excellent summary of the Silicon Valley Bank run</a></li><li><a href="">Ian Landsman</a>: "This is why I don't use startup-friendly banks (Mercury, etc)"</li><li>Section 174: join <a href=""></a></li><li><a href="">Revin has shut down</a> its Merchant of Record service</li><li>Flurly (another Merchant of Record) <a href="">was shut down by Stripe</a></li></ul><p><br></p><p><strong>From the Revin email:</strong></p>β€œThe most relevant reason [we are closing] is that the Merchant of Record model is too risky for both sellers and the MOR operator. Sellers bear the risk of platform shutdown (as seen in the example of Flurly &amp; Stripe), and the MOR operator could potentially become involved in illicit or illegal activities quickly, which could lead to all sorts of problems.<p>Furthermore, it became increasingly clear that the Merchant of Record model primarily appeals to small-scale sellers or businesses with questionable and high-risk business models. This presents a significant challenge as we strive to move up the market.</p><p>The recent change in Stripe's risk behavior has caused us to experience issues with keeping Stripe accounts live.”</p> <strong>Thanks to our monthly supporters</strong> <ul> <li>Pascal from</li> <li></li> <li>Greg Park</li> <li>Mitchell Davis from</li> <li>Marcel Fahle,</li> <li>Bill Condo (@mavrck)</li> <li>Ward from</li> <li>Evandro Sasse</li> <li>Austin Loveless</li> <li>Michael Sitver</li> <li>Dan Buda</li> <li>Colin Gray</li> <li>Dave Giunta</li> </ul> <br><p>πŸŽ™οΈ <em>Podcast hosting is provided by</em> <a href=""><em></em></a><em>.<br>πŸ“Ί Learn </em><a href=""><em>how to start your own podcast</em></a><em>!</em></p> <strong> <a href="" rel="payment" title="β˜… Support this podcast on Patreon β˜…">β˜… Support this podcast on Patreon β˜…</a> </strong>
Published Mar 21, 2023