
AngelList lays off a number of staff and cuts executive salaries - pseudolus
https://techcrunch.com/2020/04/06/angellist-lays-off-a-number-of-staff-and-cuts-executive-salaries/
======
hirundo
The pandemic makes it easier to make layoffs you were considering otherwise.
It gives both employers and employees cover by letting them point to big
economic changes. I'm firing you because virus, not because I made a mistake
when I created your department. I got fired because virus, not because I
wasn't productive. It saves face all around, making jobs less sticky.

~~~
justinzollars
or when the tide goes out do you discover who has been swimming naked.

~~~
solumos
No, nobody was naked - the tide was just so strong that their swimsuits fell
off.

~~~
justinzollars
I respectfully disagree.

------
subpixel
As another commenter has pointed out, AngelList’s recruiting/job hunting
service is in poor shape.

I was headhunted and when I test-drove their app I actually considered the
idea that they had feature-flagged my email address and were showing me a
dysfunctional version to see how honest I would be in my assessment.

Using their recruiting tool is similarly confounding. It’s just such a PITA I
know candidates are getting ignored via that channel at my current employer.

~~~
awb
I've had a lot of success recruiting engineering talent on AngelList for
years. It's actually my preferred channel for recruiting. I seem to get higher
quality candidates and into interesting discussions faster than other
platforms.

~~~
subpixel
The very first time I got an email from AngelList saying "so and so is
interested" a dark pattern in their UI got me to connect with them or whatever
they call their conversion metric.

And my experience was downhill from there.

Now my attitude is: if you're interested, apply on our careers page.

------
wutbrodo
Hm, lots of hate for AngelList here. Ive only used them once, but they were
central to my last job hunt, and I thought they were pretty great. Being
reached out to directly by serious founders or technical VPs/directors was
infinitely better than wading through recruiters who have no understanding of
the jobs they're hawking (or any other technical jobs, for that matter).

------
ram_rar
Its soo hard to comprehend that our economy is soo fragile. I understand,
cashflows are tight in restaurant and tourism industry. But honestly, you
shouldn't run a tech company, if you cannot burn through a quarter.

~~~
ProAm
> But honestly, you shouldn't run a tech company, if you cannot burn through a
> quarter.

Everyone knows this pandemic is going to last WAY longer than a quarter.
Probably a year+

~~~
kabacha
> Everyone knows this pandemic is going to last WAY longer than a quarter.
> Probably a year+

It's not gonna last a year+ lol. Lately it seems that people of hackernews and
r/coronavirus have an extreme overlap. Extremism is bad no matter which end
you stick to.

~~~
ProAm
The world will essentially be on lockdown until there is a vaccine. Not
because its so deadly, its really not, but because its SO contagious,
especially per-symptomatic. It only takes one or two people to cause another
massive flare up, thats why it will be more than a year. Even if a vaccine is
found tomorrow, we still need BILLIONS of doses, and thats after approval.
This is going to be a long economic disaster. We havent even gotten to
significant layoffs yet I feel, the next two months will get real bad across
all industry.

~~~
rwmurrayVT
It almost seems comical that the market has rallied heavily in the last two
days. It's not to the levels of Feb 19th, but surely more value should be
knocked off than where it currently sits.

~~~
ProAm
The market has nothing to do with revenue or people keeping jobs though. Wait
until we start seeing quarterly reports from companies. wait until companies
that were setup to have a few months of bad sales start running low on
reserves.

------
nytesky
So if the cuts were mostly in recruiting, does that mean places link LinkedIn
are in for lean times? Will being part of MS shield them from layoffs? Or do
they diversified income now?

~~~
pyromine
So, LinkedIn isn't solely recruiting, I see very significant use by sales
people. And I'm in a position where I have directed purchasing for my company
and essentially every salesperson I've worked with has connected with me on
LinkedIn.

~~~
nytesky
Oh yeah, things like sale navigator I think? But does that bring in much
revenue compared to postings?

~~~
x0x0
I'd (guess!) an order of magnitude more.

Why? Every AE at my company has Sales Navigator. One recruiter has the
$10k/year Linkedin Recruiter package.

------
_curious_
Didn't know AngelList had a staff of more than 2

------
algo_trader
Is AngelList still active for seed investments?!

Especially for finding new potential investors outside the immediate network.

------
sxv
They've raised exactly a marathon worth (26.2mil) in VC.

------
demadog
Really hard for me to comprehend this when Naval is an omniscient oracle on
Twitter.

~~~
beager
Is he really though? I feel like the tweets of his that grow the longest legs
merely sound deep. I don’t get the hype.

~~~
mikeyouse
I once read a critique of Twitter that went something like, "The more
followers an account gets, the closer their tweets resemble fortune cookies."

Seems apt with Naval.

~~~
alaskamiller
It's a lesson taught through hip hop. As demonstrated by one Mister Scott
Ramon Seguro Mescudi:

    
    
      All I do is try to make it simple
    
      The ones that make it complicated
    
      Never get congratulated

