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!

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​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."

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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:

1. You give the person a specific and very well-defined goal – to reduce time-to-hire while improving the quality of the hire
2. You evaluate and reward the person for achieving that goal
3. The person do a lot of interview with everyone involved in the hiring process – engineers, managers and candidates
4. The person iterates on the feedback and improves the process

How not to create an effective hiring system?

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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.

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💎 Tweet of the week

I remember Elon said they spend zero dollars on marketing, but that's not really true. They spend $$$ on content.

Nathan Baugh @nathanbaugh27 Tesla is worth $725 Billion – more than 2x GM, Ford, and Toyota combined. Yet Elon claims they’ve never spent a dollar on paid marketing. But that’s not true — Tesla is running the most effective modern marketing campaign in history. Here’s a breakdown: July 6th 2022 1,581 Retweets 8,405 Likes

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🐳 Meme of the week

I'm sorry.

Worst Contrarian @worstcontrarian lmao pic.twitter.com/7dXyBiwX3o July 13th 2022 461 Retweets 7,024 Likes

That's all for this week, take care and have a great one!

– Nick