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by CamTin
2675 days ago
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If your business is essentially burning VC money for a decade to buy a ticket in the Unicorn lottery, then the easy answer is to spend a lot more money. You can do this by poaching expensive people, by offering more, or by hiring lots more people than you need and keeping the ones you actually want. The result will be more manpower faster, at significant expense. You can also, as many companies default to, ration yourself by imposing very grueling hiring requirements (months of fly-in interviews and hours-long take-home assignments) and "competitive" (as determined by some non-market mechanism like an industry survey) pay. The result of the latter will be long hiring times for good-enough talent that is willing to work for whatever you've pre-determined to be fair. It's really no different from looking for a car: you can have a known high-quality thing right now (buy new from a dealer/pay $$$ for top talent), or you can buy a lot of potential lemons for cheaper until one happens to last (grabbing random by-owner cars from Craigslist/hire-fast-fire-fast), or you can just wait things out until you find the perfect deal (trawl Craigslist a couple times a week until something jumps out as an incredible deal/pay "market" rates and have a long hiring process). There are tradeoffs to be made, and you have to make them according to what you actually need and the resources you have. There's no physical law that says you're entitled to unlimited world-class talent at bargain rates to build your adtech startup. |
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