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News on Medial
Startups are hiring fewer workers, and paying out less in equity comp
TechCrunch
·
1y ago
Medial
In this episode of Equity, the podcast focuses on the current trends in the startup industry. It mentions that startups are hiring fewer workers and reducing equity compensation. The podcast analyzes the reasons behind these changes and explores the implications for founders and venture capitalists. Stay tuned to discover the critical startup news and insights discussed in the episode.
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Navi, robotics firm Addverb among startups vying for talent at B-schools
Livemint
·
1y ago
Medial
Several startups, including Navi, BlueStone, Addverb, and Erekrut, are recruiting talent from campus placements at business schools, despite a slowdown in private equity and venture capital funding. Financial technology, human resources technology, robotics, and software-as-a-service companies are hiring candidates with competitive compensation. While top-tier management institutes have mostly placed their students, other schools have reached out to startups to complete their placement drives. Startups are offering niche profiles and attractive salaries, ranging from ₹15 lakh to ₹35 lakh on average for management trainees. The number of startups visiting B-schools has decreased this year, prompting colleges to actively seek out these companies for placements.
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Singapore startups struggle to find fintech talent amid competition with Abu Dhabi, Hong Kong
Money Control
·
1y ago
Medial
A funding squeeze and uncertain growth prospects are making Singapore startups less inclined to hire for their fintech workforce. However, this presents an opportunity for job seekers in other financial centers like Hong Kong and Abu Dhabi, which are eager for qualified professionals. Singapore's immigration hurdles have also become less burdensome, with fewer firms citing difficulty in securing work permits for foreigners. Hong Kong's efforts to reverse its brain drain, along with its Top Talent Pass program, have contributed to this shift. Despite funding constraints, Singapore's fintech startups still aim to hire, albeit at a slower pace than before.
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Inside the AI talent-hiring frenzy
Business Insider
·
1y ago
Medial
Demand for AI talent is intensifying as companies compete to create the best products in the field, with larger and wealthier firms currently dominating the race. Smaller companies struggle to attract workers with both technical and non-technical AI skills, believing they are being squeezed out of the sector by industry giants like Meta and Microsoft. The cost of hiring AI talent is high, with major firms offering substantial compensation packages, making it a challenge for smaller businesses. Additionally, there is a shortage of candidates with the required skills, such as proficiency in programming languages and deep learning software libraries. However, startups are becoming more generous with offers, including equity, to compete with larger companies. As the industry evolves, companies are investing in chief AI officers, training programs, and internal discussions to catch up with the technology and bridge the talent gap.
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Tech workers reported feeling increasingly dissatisfied with their salaries. Layoffs may be fueling the frustration.
Business Insider
·
1y ago
Medial
A recent study by Dice found that many tech workers are becoming increasingly dissatisfied with their salaries, despite earning an average of $111,193 per year. This dissatisfaction may be attributed to job cuts within the tech industry, with several major companies laying off employees in an effort to cut costs. The study also revealed that younger tech workers and those early in their careers were more likely to feel dissatisfied with their compensation. However, despite the challenging economic conditions, tech workers can still find well-paying jobs by focusing on marketing their unique value and standing out from other applicants.
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Startup hiring from campuses to hit the slow lane this year
Economic Times
·
1y ago
Medial
Leading startups and ecommerce companies in India are expected to significantly reduce campus hiring from the Class of 2024 due to a lack of visibility caused by a funding crunch and layoffs. Recruiting managers and investors predict a 35% decline in campus hiring by startups in 2023 compared to last year. The belt-tightening measures taken by companies are narrowing their hiring funnel.
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For the love of God, stop calling your AI a co-worker | TechCrunch
TechCrunch
·
2m ago
Medial
Many startups are giving AI tools human-like personas to market them as "co-workers," aimed at easing human job threat perceptions and appealing to overwhelmed hiring managers. This anthropomorphizing trend in AI can dehumanize real jobs, potentially leading to job displacement. Despite generative AI’s exciting possibilities, its packaging as colleagues rather than empowering tools might be more harmful, making the case for AI-enhanced productivity rather than job-replacing solutions.
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Deals Digest: Funding value surges on back of big-ticket financial services deal
VCCircle
·
1y ago
Medial
This week saw a surge in funding value in the private equity and venture capital investment space, primarily driven by a significant PE investment in the financial services sector. While deal volume slightly declined with three fewer deals compared to the previous week, startups still managed to secure substantial funding.
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Younger workers are actually using AI on the job less than Gen X and millennials
Business Insider
·
1y ago
Medial
A recent study by Ernst & Young conducted with a third-party research group found that older American workers (~74% of millennials and ~70% of Gen X) are more open to using AI at work than Gen Z. The study suggests that younger workers may trust AI less and be less convinced of its value. Some possible reasons include differing levels of comfort with new technologies and higher expectations of technology by Gen Z, who may quickly move on if AI doesn't meet their needs. However, some Gen Z workers have found AI helpful in their jobs.
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EV startups attract investments, talent as others struggle
Economic Times
·
1y ago
Medial
Electric vehicle (EV) startups in India are defying the broader economic slowdown and attracting investments to fund their growth plans. With India's focus on sustainability and clean energy, these companies have aggressive hiring and funding strategies in place. Despite the overall slowdown in the startup sector, experts believe that EV startups are an outlier in terms of hiring and funding prospects.
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VC funding for women-led startups declined in 2023: report
Economic Times
·
1y ago
Medial
Venture capital funding for women has declined to 9.3% in 2023, down from 14.7% in 2021, widening the gender disparity gap in entrepreneurship. In India, female founders receive less than 10% of funding, trailing behind Europe and the US. The lack of representation and unconscious biases in investment evaluations are contributing factors to this gap. Women-led startups face challenges in securing growth-stage funding, resulting in fewer women-led unicorns. However, there is an increasing trend of women graduating from universities and entering the workforce, providing hope for improving the participation of women in entrepreneurship.
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