This would kill our company immediately

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:


(00:37) - Jon in vacation mode

(02:30) - Kicking off inactive accounts

(04:30) - Silicon Valley Bank

(06:06) - What is Mercury bank?

(13:16) - Section 174 in the USA

(19:05) - Sales tax compliance update

(25:56) - What could we do?

(32:13) - Patreon integration update

(34:57) - MyPodStudios

(36:33) - Patreon Thanks


Links:

Matt Levin's excellent summary of the Silicon Valley Bank run

Ian Landsman: "This is why I don't use startup-friendly banks
(Mercury, etc)"

Section 174: join ssballiance.org

Revin has shut down its Merchant of Record service

Flurly (another Merchant of Record) was shut down by Stripe






From the Revin email:
“The 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 & Stripe), and the MOR operator could potentially
become involved in illicit or illegal activities quickly, which
could lead to all sorts of problems.

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.


The recent change in Stripe's risk behavior has caused us to
experience issues with keeping Stripe accounts live.”
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