Top 3: one interesting study, not a bright future of a tech market and how Flo Health created an effective hiring system
Hello my friends.
Here's what I picked this week, enjoy!
1. Startup Markets, Summer 2022 Edition
TL;DR: What will happen with the tech market in 2022-2023.
- Company valuations will drop (“Series B/Cs have dropped 30-70%”, “Series A valuations have dropped maybe 20-30% but probably should drop 50%+ from highs”)
- The speed of rounds will drop back a couple of years (“As money leaves the market fundraises are likely to slow from 2021’s a company raising a new round every 6-9 months back to the historical norms of a company raising a round every 12-24 months”)
- There will be layoffs.
- There will be more acquisitions and mergers
Pretty clear picture when the market goes down. In a couple of years we'll see the same theses, but in the opposite direction.
By the way, the article ends with a very cool line - "It is still a great time to build."
2. Flo Health’s path to the hiring strategy in engineering
TL;DR: How Flo Health created an effective hiring system.
The interesting part:
- They unified the hiring pipeline for each position.
- Assign managers to each pipeline and give them two main metrics – improve time-to-hire and interview quality.
- Started collecting feedback during the hiring process from interviewers and candidates.
I think the second and third points are what gave such great results.
Just imagine:
- You give the person a specific and very well-defined goal – to reduce time-to-hire while improving the quality of the hire
- You evaluate and reward the person for achieving that goal
- The person do a lot of interview with everyone involved in the hiring process – engineers, managers and candidates
- The person iterates on the feedback and improves the process
How not to create an effective hiring system?
3. Not interacting with people reduces cognitive function over time
TL;DR: Title says it all.
A study involving 32,000 people found that those who were socially isolated had decreased cognitive abilities, including memory and reaction time.
I wonder how much language and communication has affected our evolution.
💎 Tweet of the week
I remember Elon said they spend zero dollars on marketing, but that's not really true. They spend $$$ on content.
July 6th 2022
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🐳 Meme of the week
I'm sorry.
July 13th 2022
|
That's all for this week, take care and have a great one!
– Nick
Key phrases
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