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Silicon Valley Bank

held the $10M debt ahead of him

51 transcript mentions
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’194’20’215’22’23’242’251’2639
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In the moments

2 linked receipts
Story

He left the office assuming the company was dead, then woke up to $400K in a day

When the Family Guy game got a weak App Store feature, Ali concluded the company was over, went home and slept. The next morning the stats showed $400,000 in revenue the prior day — it was working.

I immediately go to look at our stats and I'm like, oh. We just generated $400,000 in revenue yesterday. So this is working. Holy fuck, this is actually working. We're winning. I run to the office and like rally the team and say, wow, this is working. We did it, guys.
EP 1 · 1:06:53 · SULAIMAN ALI
Read at 1:06:53
mfmindex.com№ 0001-4013
Story

Signed a $10M license with $2M in the bank, then laid off 70 people

TinyCo signed a Family Guy license owing Fox $10M within 30 days while holding only $2M. They got a ~$10M SVB loan to pay Fox, then laid off 70-80 of their ~160 employees one at a time in a single brutal day.

When we sign the deal with Fox, we sign a deal that says that we're going to pay them $10 million for the license and that we're going to pay them $10 million within 30 days. We have $2 million in our bank account.
Greatest Hits #1 - Turning it Around: F… · May 2021 · 1:01:36 · SULEMAN ALI
Read at 1:01:36
mfmindex.com№ 0000-3696