zlacker

>>winsto+(OP)
TripleByte has taken on $50 million in funding and covid is deeply slowing down hiring. I'm guessing this is the desperate phase of company growth as they try to pivot to increase growth metrics. I'm curious if they would have done it had covid not happened.

>>marcin+wG
I was surprised by the level of funding for a recruiting company. Their model is really costly too because they have at least one two-hour Skype screening interview for potential candidates and I imagine they need lots of those to present a few candidates for interview.

Even though headhunter fees can be high (10-30% back when I used to use them), this seems tough to scale unless their thought was they would capture all the headhunters in the world (eg, google eating classifieds).

I don’t think that’s possible with a process that requires so much manual effort. I read about their aim for using AI, but just the cost of developing a usable training model to reduce the need for in person screens requires, what, hundreds of thousands of successful placements.

I remember needing 100 phone screens for 20 phone interviews for 5 in person interviews for 2 offers.

Assuming anyone I trust to do Skype phone screens is at least $100/hour, that’s $200 x 2 hours x 20 just = $40k for screening. Even if they break even with placement fees, that’s not an amazing margin to warrant such investment.

Seemed like AI buzz overfunding.