LinkedIn Streaming: A Love Story Fraught with Technical Difficulties

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[00:00:53] Hide your kids, lock the doors! You're listening to HR's most dangerous podcast.

[00:00:58] Chad Soosh and Joel Cheeseman are here to punch the recruiting industry right where it hurts.

[00:01:04] Complete with breaking news, rash opinion, and loads of snark.

[00:01:08] Buckle up boys and girls, it's time for the Chad & Cheese Podcast.

[00:01:12] Chad Oh yeah, just two gangsters of love speaking on the pompadism of work.

[00:01:26] Chad Hi kids, you're listening to the Chad & Cheese Podcast. I'm your co-host Joel Maurice

[00:01:31] Cheeseman.

[00:01:32] Chad This is Chad 1864 Soosh.

[00:01:35] Chad And on this episode, checking out of checker, LinkedIn embraces the big screen

[00:01:41] and who'd you rather? Let's do this.

[00:01:48] Okay listener, how can you help your employees become more productive? I have answers.

[00:01:54] How about automating manual and repetitive tasks, giving meaning to data, then allowing

[00:02:00] that data to actually drive decisions? And how about matching people to your jobs quicker?

[00:02:06] Chad Well wait, the Chad & Cheese has a new LLM?

[00:02:10] Chad No Cheeseman. I'm talking about Tex Colonel.

[00:02:13] Chad Ah, okay, that makes more sense. What I'm hearing is the groundbreaking concept of,

[00:02:20] wait for it, simplicity. Seriously though, seriously, Tex Colonel cuts through the complexities

[00:02:29] like a tortilla chip through some hot nacho cheese.

[00:02:32] Chad Oh my god, really? Nacho references already.

[00:02:34] Anyways, Tex Colonel brings efficiency and productivity to your operations. Tex Colonel

[00:02:40] seamlessly unifies your tools and data to drive efficiencies and success.

[00:02:46] Chad Tex Colonel is creating new opportunities for your recruitment journey, kind of like adding

[00:02:53] guac to my barbacoa burrito.

[00:02:55] Chad Oh my god. How about extracting meaningful insights from data? I mean, that's something.

[00:03:01] Swiftly matching people with jobs, automating repetitive tasks. Who knew such advanced concepts

[00:03:09] were even possible in the land of human resources?

[00:03:13] Chad We did, Chad. We did. Dude, wrap it up. I'm a little hungry.

[00:03:19] Chad Imagine that. Okay, listener, get ready to use today's tech to drive efficiencies

[00:03:24] and productivity visit TexColonel.com that's T-E-X-T-K-E-R-N-E-L dot com.

[00:03:33] Chad Nachos.

[00:03:36] Chad Okay, okay. Before we get into this, I have a question. So here in Indiana,

[00:03:45] I've been trying to mull through this over the last couple of days. Here in Indiana,

[00:03:48] we've had what's called the brain drain which when people get educated here and then they

[00:03:53] leave. So let's say, you know, we have tons of engineers that are in Purdue.

[00:03:56] Chad Sure. Rose Holman, Purdue.

[00:03:57] Chad Right. They go to Purdue. They get educated.

[00:04:00] They eject, right? They get the fuck out of Indiana. Okay. And they do for a number of

[00:04:06] reasons but the competition for companies to attract great talent to a state economic

[00:04:11] developments, right? And working with state government and working with federal government,

[00:04:14] I know that is a thing they talk about all the time. So set this up.

[00:04:18] Chad Set it up.

[00:04:18] Chad This week, the Arizona Supreme Court ruled that a near total abortion ban from 1864 is

[00:04:28] enforceable. How do companies doing business in the state of Arizona who are trying their

[00:04:35] damnedest to get the great talents into their companies, into Arizona, into Phoenix,

[00:04:41] into Tempe, into Arizona? How do they deal with this? Because this is going to be a real

[00:04:47] recruiting issue for companies trying to compete for great talent. How do they do it?

[00:04:53] Chad Well, first off, talking about college.

[00:04:56] College is recruiting students. A lot of students.

[00:05:00] Chad That's a good point.

[00:05:00] Chad. New news reports come out that students don't want to go to schools where abortion is

[00:05:05] quite frankly illegal, not even a gray area. It's just straight up Civil War era laws.

[00:05:11] Chad Think of all the fun that you have in college, right?

[00:05:14] Chad All the dumb fun, all the bad decisions that you make in college and also trying to

[00:05:22] make the plan B pill illegal. So...

[00:05:24] Chad I don't get it, man.

[00:05:26] Chad Yeah, very confusing. I mean, I think the GOP has to be wondering,

[00:05:31] be careful what you wish for. They've been wishing for a Supreme Court to sort of strike down

[00:05:37] a row for 30, 40, 50 years and they've gotten it and they may lose a whole lot of elections

[00:05:44] because of it. Trump is kind of moonwalking this issue, throwing it to the states. People

[00:05:50] are going to vote on this. People are going to vote on this issue like they have in certain

[00:05:54] states and it's going to be a loser for the GOP. But the GOP has made this,

[00:06:01] made this marriage with the conservative right who support them in terms of canvassing houses

[00:06:09] and voting and money. And so they've made this deal with the devil and now they have to dance

[00:06:14] with the devil and November should be very interesting. The question is, does it stay

[00:06:19] with the states? If it does, I think more states than not are going to vote down

[00:06:23] the laws that are there now. Does it go to the federal level, which I don't think it will?

[00:06:28] I'm sure a lot of companies wish that it would because it becomes a real game of whack-a-mole

[00:06:34] to say what states are we going to do business in and hire in. We've had companies say, hey,

[00:06:41] we'll ship you to whatever state you want for this healthcare. That's a pain in the ass.

[00:06:46] Companies don't want to do that. That's just because they're there already, right?

[00:06:51] They won't put new locations in those states. And again, I don't want to get away from,

[00:06:56] this is they're taking the right away from women and that's their decision, a woman's decision.

[00:07:02] I don't want to get away from that, but as this podcast focuses on business,

[00:07:08] the impact for these states, again, they're shooting themselves in the foot.

[00:07:13] I mean, it is, this is, again, I've been saying for years, we are trying to go back to 1930.

[00:07:19] I was wrong. We're trying to go back to the 18 fucking 60s.

[00:07:23] It's quite a dichotomy that you have states that are quote unquote business friendly, Arizona,

[00:07:29] Texas, Florida, low taxes, low regulation. But then you flip the script and say, oh, by the way,

[00:07:37] abortion is illegal in our state. Companies have to put their money, money, their dollars

[00:07:42] to work and get politicians that are going to make a more friendly environment for recruiting

[00:07:46] and retaining talent. Period. You can't lure me to Texas with low regulations and taxes. And

[00:07:51] then in the back door, tell me like, oh, by the way, women are screwed in the state. Sorry.

[00:07:57] Yeah. And take your rights away. Yeah.

[00:08:00] Not that Indiana is any better. Okay. We're only a fourth into 2024. Let's,

[00:08:05] you know, we got 200 and some days left till the election. It'll be fun.

[00:08:10] I can't wait to be on the beach anyway. Shout out.

[00:08:12] That's true. That's true. This is messing with your vibe, man.

[00:08:16] Oh, he's killing my Euro vibe, man.

[00:08:18] Chad's had some Euro energy going on and yeah, this is not good for any of that. So yeah, let's

[00:08:24] shout out. Let's give him some shout outs. All right. Number one, Adam Chambers,

[00:08:28] one of our favorite guests, one of our favorite firing squads. We didn't have video at the time,

[00:08:33] but my man was in a basement somewhere at his mom's house maybe. I don't know. He had

[00:08:38] pillows over his head. Who's in New York?

[00:08:40] Trying to sound as good as possible on the, on the, which we gave him,

[00:08:45] I think we both gave him a rousing applause. That was a company called Appley Chat,

[00:08:50] which he pivoted into nurse recruiting. He's not the first one to see dollars in healthcare.

[00:08:56] And he made that move. He's kind of been, we've got, we've kind of lived through him.

[00:09:02] He's from Ireland, Belfast. He goes to Mexico. He does salsa dancing with

[00:09:08] beautiful women in South America. Spain. Yeah. He's all over the place.

[00:09:12] He finally got married. I don't know if we're plotting that or maybe it's a sad note of his,

[00:09:18] his, his single dumb is gone, but he obviously met very lucky woman and couldn't be happier

[00:09:26] for this kid. Adam Chambers man. Good for you. Enjoy life and keep doing what you're doing, man.

[00:09:32] We gotta say from those wedding pictures, he's definitely punching up because he's,

[00:09:37] he did incredibly well. So hopefully she probably has a bad eyesight, but good luck.

[00:09:41] Good luck kids. Good luck kids. That's not nice. Oh, Adam knows.

[00:09:49] My shout out goes to shitty comms departments. The following came from an HR leader this week

[00:09:56] directly connected to us. Yep. Quote smart recruiters has not announced that change

[00:10:04] to its customers yet about Rebecca Carr becoming the interim CEO. Also, the blue board disappearing

[00:10:11] act was nuts. They never contacted us about them dissolving the company end quote. So this is a

[00:10:19] customer in a leadership position. So to all of those vendors out there and comms departments

[00:10:25] out there, make sure your customer engagement game is tight. Okay. Your customers need to

[00:10:31] know what the fuck's going on. Yeah, don't be stupid. You are so dumb. You are really dumb.

[00:10:38] All right. My last shout out, Seth Godin is a marketing guru, if you will, that I've been

[00:10:44] following for 20 some years. If you ever read Purple Cow, it's a great book to kind of starting

[00:10:50] out in marketing. But anyway, he has launched a few things over the years. He actually launched

[00:10:55] a job site not too long ago and then shut it down eventually. If that tells you something

[00:11:00] about how hard running a job board is and how bad of a business that it is in most cases. But he

[00:11:06] just launched a site called Good Bids. Yeah. You know, there's not really a good marketplace for

[00:11:11] giving to charity silent, silent auction kind of thing. So he's building kind of a marketplace.

[00:11:18] They have some really cool bidding items. One is have your name in the next John Grisham novel.

[00:11:25] You'll be a character like Chad So Wash. That's a character in a novel. That's cool.

[00:11:30] Fight Club movie poster signed. A lot of sports memorabilia and all of that goes to charities

[00:11:37] that you select the money to go to. So Good Bids.org, if you want to check it out, sign up,

[00:11:43] bid on some cool things. I highly recommend that. But Seth Godin, good job. Shout out

[00:11:48] to you for creating Good Bids.org. Very nice. Very nice. Well,

[00:11:54] you might not be bidding for free stuff but at ChadCheese.com slash free. You get the free stuff.

[00:12:00] Look at that t-shirt Joel Cheeseman's wearing right now. Look at it. If you're on YouTube,

[00:12:04] you can see that that is sexy. That's some guns in roses. Sex appeal right there.

[00:12:11] Brought to you by Aeronapp. That's right kids. Aeronapp, the referral platform. Plus,

[00:12:16] free craft beer from our friends at Aspen Tech Labs. You could prospectively win free beer delivered

[00:12:23] to your door, not by us but by somebody who does that for a living. Whiskey by Tex Colonel. Bottle

[00:12:30] from Joel. Bottle from myself. Great whiskey. And if it's your birthday kids, rum from plum.

[00:12:39] You might win. Do you feel the tension on your birthday marks? Yeah right now. I know I can.

[00:12:44] I can feel it all the way down in my plums. That's right Chad. A few listeners are celebrating

[00:12:49] another trip around the sun. No wonder if they were in the the Trail of Totality this past week

[00:12:54] with the eclipse but but they were celebrating another trip around the sun. Stephen Rothberg,

[00:12:59] Sean Godfrey, Rick, Karner, Jason Casey, Jason Crowell, Amanda Samansky, Lauren Burger,

[00:13:07] Molly Stumm, Dave Lowry and Brian Moore all celebrate another trip around the sun this week.

[00:13:15] Happy birthday listeners. That's they just reminds me of bad boys. Mike Lowry! Who are you? Are you

[00:13:20] Mike Lowry? No I'm Mike Lowry. All right we got events. We got events. We're going to Unleash

[00:13:27] America in Vegas at Caesar's Forum which is a great little area. I mean not only is the

[00:13:34] forum great I think for an event but the link is right there. You've got all the great restaurants.

[00:13:41] We are taking the leap and literally jumping off the top of the stratosphere with Matt Bauer from

[00:13:48] Out Hire. That's right CEO of Out Hire. And a package of depends for me my friend.

[00:13:55] Oh no. Dude it's over 800 feet and yes you can jump with us

[00:14:02] or you can nominate a friend or enemy just go to chattease.com and right on the top of the page

[00:14:10] you can click the button says jump with us. Nominate yourself or someone else. All thanks to the

[00:14:16] High Flying staff over at Out Hire. So listener you got to let go of those outdated hiring

[00:14:22] processes and technologies. You got to take the leap see what I did there?

[00:14:27] Out Hire.ai today.

[00:14:31] Then I know you're excited. I know you're excited. I'm so excited. My wife is super excited too.

[00:14:37] She's like have you done your will? Have you updated the will yet?

[00:14:42] Then we're going to the minus five bar but before that let's talk about this. Great people sent

[00:14:46] me a box. Did you get one? Did you get a box? I didn't know who it was. Excellent. There was

[00:14:50] no note just a mysterious cigar bottle. I had a note. You probably threw the note away because

[00:14:57] you saw the stag. Barrel strength bourbon, you saw the cigar, you saw the glen carrying glass. Did

[00:15:03] you get a bottle of fireball? I didn't get the stag. I got a west. Minifireball?

[00:15:10] I didn't get a minifireball. Is there a story there? I got a fireball and I bet the fireball

[00:15:14] is supposed to keep me warm while we are in Omar's ice castle at the minus five bar with Diane and

[00:15:22] Jane from Great People and Omar from John Pixel. How can you get into the party? Follow Joel and

[00:15:30] me on LinkedIn. You can check out our latest posts where we push the registration link out there.

[00:15:39] Yeah, I'm going to get you a little parka. It's going to feel like it's Finland

[00:15:42] all in the desert. It's great. Then on May 8th at the Neon Boneyard. If you have not seen this

[00:15:50] place, you've got to go to Google. You've got to go to Google. You've got to take it to a

[00:15:56] porn site. I promise. You type in Neon Boneyard and all the pictures that come up on Google.

[00:16:02] It is amazing. We're going to be partying there. Basking in the Neon Glow. Just go to chadcheese.com

[00:16:11] slash events or go to chadcheese.com. Click on events in the upper right hand corner and click

[00:16:16] on the Join Wait List button there. Join us, our friends from Plum and that's going to be a good time.

[00:16:23] Love it. Dude, Vegas. We're getting too old for this shit, man. We got to pace ourselves

[00:16:29] a little bit. Pace ourselves. Pace ourselves. Be for yourself, master. I'm ready for this.

[00:16:34] All right, here we go. Layoffs. Before we get to the news, yeah, we got some big layoff news.

[00:16:40] Checker has laid off 382 employees due to a slowdown in hiring per the company. The layoffs

[00:16:50] affecting 32% of its workforce aimed to improve efficiency. There's that word again,

[00:16:56] amid economic challenges. In case you missed it, checker services include criminal record checks and

[00:17:03] identity verification with clients like Uber and Netflix. The startup, not quite a startup anymore,

[00:17:09] but they're valued at $5 billion. That was back in 2022. They've raised $679 million in funding.

[00:17:19] Chad, what can only be called a train wreck of sorts? What are your thoughts on the news out of

[00:17:27] Checker? It seems like they're not going to be the one buying Fama. We keep talking about all these

[00:17:33] background check companies that should be talking to Ben Moniz about buying Fama and

[00:17:38] really evolving. It doesn't look like that's happening here. Are we looking at, do you think

[00:17:43] we're looking at just prepping for acquisition and or just go IPO? Oh, I don't think IPO is

[00:17:51] anywhere in the future. So we've recently talked about the three big companies in this space

[00:17:57] historically have been higher right. They were acquired by private equity taken off the

[00:18:03] public market. Off the board. Yeah, their valuation from the sale was $1.65 billion

[00:18:09] dollars. Then you had Sterling and first advantage merge, I guess, like it was technically an

[00:18:15] acquisition of first advantage over Sterling that valued the companies at $2.2 billion.

[00:18:22] So basically 2022 investors were wise enough to think that Checker was twice as valuable as

[00:18:30] two or bigger. Yeah, like $5 billion. So clearly they weren't going to grow into that valuation. So

[00:18:39] they have to cut costs and these which cut costs is I don't know a third of your head count

[00:18:47] off the books. Frankly, now that they've cut, they need to grow if they're going to have any

[00:18:53] hope of getting into that valuation. So that means I think it's a perfect time to go buy Fama

[00:18:58] like take some of this money that you're saving from employees. And there are a ton of mom and

[00:19:03] pop background check companies with 25, 50, 100 clients like start buying those companies up,

[00:19:10] start consolidating because higher right Sterling all those guys have about 12 to 18 months to

[00:19:17] figure out what the fuck they're doing with private equity and the acquisitions. You have

[00:19:20] a window now and hopefully some money in the bank to go consolidate, consolidate, consolidate

[00:19:27] and hopefully make the dollars that you're saving worthwhile because that valuation is

[00:19:34] makes life hard. We've talked about companies raising too much money. This is a case where

[00:19:39] Checker raised too much money and now we're seeing the negative impacts of that unfortunately

[00:19:44] for the employees. Good luck guys.

[00:19:46] All right. LinkedIn has launched connected TV or what the kids call CTV,

[00:19:57] Chad ads and live event ads aiming to help marketers tap into the growing video consumption trend.

[00:20:05] CTV ads allow marketers to display video campaigns, campaigns on home TV sets, expanding

[00:20:11] reach beyond the app. Live event ads promote upcoming LinkedIn events in stream enhancing

[00:20:18] event awareness. These initiatives come as LinkedIn seeks to offer more video focused

[00:20:23] marketing options. Chad is LinkedIn listening to our show because we've been recommending and

[00:20:29] get it, get more into videos. What are your thoughts on the news out of LinkedIn?

[00:20:33] Have we just become best friends? So there are two aspects I want to take a look at here

[00:20:37] and is first and foremost the platform itself and being able to target on the platform versus

[00:20:41] streaming. So we'll take a look at LinkedIn first. So on LinkedIn's post about this move,

[00:20:47] they mentioned, quote, reach engaged decision makers to help our customers capture buyer's

[00:20:53] attention and quote. Now I mentioned last week that I thought LinkedIn and their latest moves

[00:20:59] were going to pivot toward marketing and they are knowing that those dollars available in those

[00:21:05] budgets are much larger but would be in combination with the smaller recruitment advertising budget set.

[00:21:11] I mean, they're still going to, they're going to have those products available.

[00:21:14] Last week, I thought, you know, they were going to go toward the B2C with the whole avocado

[00:21:20] thing that they've done before but they didn't. They're focusing on B2B and once again the

[00:21:27] quote reach engaged decision makers, right? So why is this smart? The value proposition goes

[00:21:33] through the roof when companies are selling higher revenue business products which cost hundreds of

[00:21:38] thousands of dollars or millions of dollars per year versus the B2C market with avocados,

[00:21:45] Tommy John underwear and meal kits, right? Blue apron meal kits. The focus and revenue

[00:21:51] opportunity is much larger. Then I want to talk about the other aspect of this is

[00:21:57] the streaming partnerships. So let's just take a look at Paramount Plus because they're

[00:22:01] talking about Paramount Plus, Roku, Samsung and then also Universal Premium Streaming. So Paramount

[00:22:08] Plus, I watch Halo, Mayor of Kingston, Kingstown, Tulsa King, Ray Donovan. They're all shows that

[00:22:16] I've enjoyed but that seems like a huge separation from the B2B buyers on LinkedIn.

[00:22:21] How are they targeting decision makers with streaming? The short answer is they aren't. So

[00:22:27] LinkedIn knows who the CEEOs are and the business leaders are in their platform but when they start

[00:22:33] to stream out, that's going to be an issue. So they try to make these things one, right? We're

[00:22:40] going B2B. We're going B2B and this is how we're getting larger distribution.

[00:22:45] One, the value proposition on the LinkedIn side of the house, value proposition should be

[00:22:50] much higher because you know you're going to be targeting leaders and people who actually

[00:22:55] make decisions versus the streaming aspect. I think it's interesting. I think it's definitely

[00:23:02] a way forward. This was, I mean, the only LinkedIn news I've been excited about in the very long

[00:23:08] time. Yeah, my comment we'll start with...

[00:23:15] They wouldn't just become best friends.

[00:23:17] This is, there's a big if, if they can pull the sauce and you and I both know that LinkedIn don't

[00:23:25] have a great history of pulling things off effectively. But there's a lot to be excited about

[00:23:31] this. Retargeting is something that most people, especially on the employment side,

[00:23:37] don't take advantage of. People don't understand that you can put like some code on your

[00:23:42] your ATS and then serve ads on Instagram about working at your company. I know agencies do it,

[00:23:48] but a lot of people just don't understand it. So the thought of placing an ad on LinkedIn and having

[00:23:55] retargeting code on your ATS or your side, your company site and then having, based on that,

[00:24:01] if they can connect, I'm on LinkedIn or I go to the website and then I'm connected through

[00:24:07] my streaming service that I'm watching a show and I've been to this site and now I can see an ad

[00:24:14] from that company. So think about a job for a second. Say I'm really looking, somebody comes

[00:24:18] to LinkedIn, they're looking for sales jobs and the company is posting a sales position

[00:24:24] and now when they post the job it says, hey would you like this ad to show up on

[00:24:29] Tulsa King or whatever or properties and you're targeting this, maybe it's this age range

[00:24:34] and this is who watches that show. I mean the targeting could be really, really, really interesting.

[00:24:40] Most companies don't have the wherewithal to just say, yeah let's put a video spot,

[00:24:46] let's put a commercial on an ad. Now what becomes really interesting to me is we've all seen these

[00:24:53] movies that are made on AI where you just say like show me a dog walking through a cornfield,

[00:24:59] blah, blah, blah and it literally produces a dog on a, you know, walking through a cornfield.

[00:25:04] I don't know how I came up with a dog in the cornfield but anyway, now imagine it saying okay,

[00:25:10] we'll create an ad based on the job posting you just put up. We have your company logo because

[00:25:17] that's on your profile page. We have kind of what you do where you're located etc. and take

[00:25:22] all that data and create sort of a template ad or maybe like here are three ads that you can

[00:25:28] show touting the job position that's open at your company and then redirect people from that ad to go

[00:25:35] to LinkedIn and apply to the job. That becomes really interesting. If you can give a company the power

[00:25:42] to automate commercials that look great, that are AI produced and automated, LinkedIn can make a

[00:25:50] shit ton of money doing like rinsing and repeating ads for jobs on these stations that people watch

[00:25:57] and that goes into their open AI relationship. That goes into their Microsoft stuff.

[00:26:02] Think about targeting though from those ads you could have a multiple of ads. One could be,

[00:26:08] you know, that this person is a black female and the target person in the ad is actually a

[00:26:15] black female. You can see yourself in that ad even more. You could target those out even better.

[00:26:24] Can't see LinkedIn. You can't see them pull this off.

[00:26:29] I think that's a bridge too far for me. I'm just trying to get down to the basics here and

[00:26:33] I'm having problems with them actually getting the basics done but yeah, I think that's probably

[00:26:38] a little bit much. That is a future that employers would embrace because everybody would love to

[00:26:44] see their ad on a show that people watch. They'd love to see like, oh and then see who watched it

[00:26:50] and how many times it was seen and have people actually apply maybe a quick way to point LinkedIn.

[00:26:55] I don't know, put your camera and upload. I don't know how that would work but easy

[00:26:59] apply through your phone while you're watching TV. Anyway, it's very exciting if they can

[00:27:04] pull it off and it looks like at least from your point of view it's not going to happen.

[00:27:08] In that case, well it'll just be a big bummer of a news story.

[00:27:16] Sorry to squash those dreams. Do it LinkedIn. Come on baby. Come on. Come on. The Kool-Aid's

[00:27:21] getting a little stale and it's starting to taste good again. Don't do the easy stuff.

[00:27:28] All right. Maybe our next story. Let's talk tale of two companies. First off,

[00:27:36] Job and Talent, a Spanish based company whose 2023 revenue came in at $450 million with the US

[00:27:44] becoming the company's largest and fastest growing market as well as its most profitable.

[00:27:50] And now for something completely different, Job.com who's been very quietly and whose most

[00:27:58] newsworthy achievement in 2024 so far as a CEO with a 7% approval rating on Glassdoor and you

[00:28:09] thought Trump and Biden were crushing the favorability scores. With a company rating,

[00:28:14] not much better of 19% approval featuring talk of major payroll issues. Chad,

[00:28:23] your thoughts on these two diverging companies? Yeah. So I mean, they're obviously we could have the

[00:28:29] leadership discussion and probably have a whole fucking podcast around that. I'm going to kind of

[00:28:33] put that to the side and just talk about model, right? It's talked a little bit about the models

[00:28:38] and we actually had Aaron Stewart who is an amazing presenter. Lovely guy. And pitcher.

[00:28:45] That guy, if you need somebody to pitch for you, that guy can pitch. But the model,

[00:28:51] when we actually he was on stage with us in Austin where I think he lives in Texas.

[00:28:57] But he was on stage pitching and you loved it to death and I love him but I just couldn't get the

[00:29:03] model. I couldn't absorb what they were going to try to do because their model at Job.com

[00:29:09] was to buy up staffing companies, right? Buy up staffing companies and infuse their tech

[00:29:15] into those staffing companies. Now here's the big problem. Once you start buying

[00:29:19] staffing companies with a margin of 15 to 20 plus percent, to be able to take that money down to 2%

[00:29:26] which is what they were talking about is fucking ridiculous. That's never going to happen, right?

[00:29:33] You have to flip it the other way around and you have to become the operating system

[00:29:37] for said staffing companies, for the industry. So now back to job and talent.

[00:29:44] They have done some acquisitions of staffing companies. They haven't done as much as job.com

[00:29:51] has. What they have done is they have created an operating system for staffing companies. And

[00:29:59] what does that mean? Very simply, there shouldn't be somebody on a phone every day

[00:30:05] talking to somebody about coming in for a warehouse fucking position, right?

[00:30:09] Those positions should be on an app that are automatically targeting individuals who have

[00:30:15] those skills, right? And in job and talent, it's very simple. You go in, you answer a few

[00:30:20] questions. Well first off, you can take a look at all the jobs that are available in your area,

[00:30:24] right? You can click the one that you want. You can ask a few questions. You can get the

[00:30:28] job right then. You get the job right then, okay? Now this job could be a shift

[00:30:34] or it could be the job itself. And that's the beauty about this whole market is that if I'm

[00:30:40] already working at Amazon, but yet I want to pick up a shift at another warehouse or something like

[00:30:45] that, I can go in job and talent. I can make a little side hustle cash, right? If I'm a nurse

[00:30:50] and I want to pick up a little bit more cash, although you know everybody's,

[00:30:54] you know everything the schedules are full at the hospital that I work with or the clinic

[00:30:58] that I work with, I can look at another one. That's in the next city or country or county,

[00:31:04] I'm not country, county close to me and I can go in and I can do that. This is where work is

[00:31:12] moving from a shift standpoint, right? And the problem is job.com, they couldn't make that happen

[00:31:21] because of the revenue models, 20% to 2%, right? Job and talent who's coming from Europe is smashing

[00:31:31] them, smashing them. And how many companies come to the US and smash it? Not many.

[00:31:37] Not very many. It typically doesn't work out very well, Chad.

[00:31:41] 60% of the time it works every time.

[00:31:45] By the way, if I was going to tell you, you have the choice of picking job.com or job and talent

[00:31:51] with an ampersand in between the two, which do you think will be the more successful company?

[00:31:55] You would automatically think job.com would. Look, tell me if you've heard this story before.

[00:32:01] Cool name, colorful founder. Pets.com.

[00:32:07] Jobster. Those that remember Jobster are very colorful, a little more abrasive.

[00:32:12] Jason much like Aaron. Yes, but a carnival barker, I think you've called both of them at some point.

[00:32:19] Great sales guys, big personalities, little bit of direction challenge with both. What are we

[00:32:28] going to be when we grow up? If you remember, job.com had some credit card thing that they gave

[00:32:34] to like it was really confusing and they pivoted to... That's how they paid people.

[00:32:39] They paid it through the credit card, right? Job and talent. What do you do? You pay through the app.

[00:32:44] Yeah, yeah. Credit card versus app. Very apropos comparison there.

[00:32:49] And then to go into the other, Jason Goldberg of Jobster was lucky enough to not have glass door

[00:32:56] when he was apparently threatening people. I was covering this when I was blogging back in the

[00:33:01] day. They had an amazing team. I can't say that job.com has an amazing team because I don't

[00:33:07] know most of them, but poorly received CEO. People aren't happy. There were probably issues with

[00:33:15] paying people at Jobster or what's good like layoffs, things like that. Now if you look at job.com's

[00:33:23] insights, like headcount has remained pretty steady. My guess is that's because of the

[00:33:28] acquisitions. They keep adding headcount by buying these companies. But there's clearly trouble

[00:33:35] in the house. And when you have trouble in the house, it just spills over into everything. Job

[00:33:40] and talent regardless of the name has somehow figured out the sauce of ease of use. Young people

[00:33:49] understand this is the way that I want to work. Give me my phone. Let me apply. Let me work.

[00:33:54] Get paid through that. And that just seems to work where people like Snag a job. Snag,

[00:33:59] not Snap. Snag a job. They were going to try this, a few others. So yeah, tail it to companies. I

[00:34:05] mean, I think you look inside management. It just seems to be a mess at Job.com, which is

[00:34:10] unfortunate. We both like Aaron a lot. I don't know what's going on there. We haven't heard from

[00:34:13] them in a long time where we used to hear from them all the time about what's going on. Let me

[00:34:17] tell you about what we're doing. They're very, very quiet. And then we have this company

[00:34:22] coming out of Spain and just kicking ass and showing a lot of companies how it's done.

[00:34:27] I'm wondering how like a job case is looking at job and talent success and saying, where did we,

[00:34:33] where can we catch this lightning? How to because they have a lot of users and I don't know. Yeah,

[00:34:38] how they're monetizing it. But yeah, just might want to look at job and talent and how do we change

[00:34:44] our model into something more or job and talent might want to look at job case from an

[00:34:49] acquisition standpoint because of the size right. They've raised a billion three.

[00:34:54] Yeah, the staffing industry in the US alone is $218 billion.

[00:35:03] So the ability for a job and talent to buy into a job case that has a humongous fucking community

[00:35:10] already. I think that's a very good call, Chiefsman. That could be interesting.

[00:35:14] Yeah. Well, thank you. Thank you. Do you like that one better than Stepsone Buy and Career

[00:35:18] Builder? Oh, yes. Yeah, they did. This one makes sense. This one makes sense.

[00:35:30] Human resources is supposed to be about humans. I mean, it's right there in the name. But when

[00:35:36] your hiring team is more like an assembly line glued to their computers manually posting heaps

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[00:36:17] build great teams and take care of your humans. Pando IQ will do the rest so you can get back

[00:36:23] to doing what the computers can't. For more information on Pando IQ, go to pandologic.com.

[00:36:30] That's pandologic.com. All right, Chad. I first read this as a Marvel story when it said

[00:36:38] multiverse, but no, no, it's not a it's not a Marvel story. London based multiverse, which

[00:36:45] claims to deliver a new kind of apprenticeship that combines education work and technology

[00:36:51] has acquired San Fran based searchlight, which says it provides a bias free AI that filters

[00:36:58] top applicants by relevant work experience hard skills and soft skills terms were not

[00:37:04] disclosed. Searchlight had previously raised $19.5 million and employs 16 people while multiverse

[00:37:11] has raised $418 million and employs a little over 1000 folks. Chad, your thoughts on the multiverse

[00:37:20] searchlight deal? Yeah, I see this much like workday's acquisition of hired score.

[00:37:25] Workday hadn't a fucking clue about AI and training large language models, which means

[00:37:31] they didn't know how to explain and or defend them. Athena and the team at hire's scored lived

[00:37:39] and breathed it. So the tech in the acquisition made sense. In this case, multiverse fills a gap

[00:37:45] with the searchlight acquisition in the same way. Multiverse gains a platform geared toward

[00:37:51] IO science, culture data, hiring outcomes, basic auditing, and they've got a ton of integrations

[00:37:57] with different different applicants tracking system platforms that are out there. I know

[00:38:03] trying to go out and actually hire individuals to build something like this for a platform,

[00:38:08] that is going to take a very long time and a hell of a lot of money. This is a shortcut for them,

[00:38:14] not just from the standpoint of a tech, from a tech standpoint, but also from a people

[00:38:19] standpoint, from an expertise in house standpoint. To me, this makes a hell of a

[00:38:25] lot of sense. And since last November, during multiverse layoffs, they laid off about 30 people,

[00:38:31] founder Ewan Blair, that's right, Tony Blair's kid, stated that the U.S. business didn't meet

[00:38:37] revenue targets and required too much financial investment. And that multiverse would have to

[00:38:44] focus on a more tailored approach in specific sectors for the U.S. market,

[00:38:49] which is what we talk about on every show just about, right? Almost weekly, target a sector,

[00:38:57] knock out of the park, then expand. Now they're feeding their data into searchlight to accelerate

[00:39:03] that process in scale in those targeted sectors, meaning they can expand much faster. So again,

[00:39:10] if you take a more focused approach, how do you get to expansion faster? This is how you do it,

[00:39:16] right? You expand within that sector first, and then you explode out. This is, I think,

[00:39:21] a smart acquisition for them and necessary. Another one. So you stole a lot of my thunder

[00:39:28] on this one, particularly the Tony Blair relationship or relation there. I was hoping

[00:39:34] that you would mention that. So I could drop that one. Although the searchlight founders

[00:39:41] are twins. So you didn't mention that. So I will mention that they are twin ladies.

[00:39:47] It was kind of eerie looking at that, was saying is that an AI thing or no?

[00:39:52] No, they're actually twins. There will be a founding team of AI that's a

[00:39:55] billion-dollar company one day. I've heard that on a podcast somewhere. The one thing for me is

[00:40:00] that multiverse has been around since, they've been, they're on year eight. They've been

[00:40:05] around for a while. They're not profitable. The US, I don't think is going the way that they had hoped

[00:40:12] that it would and they should be killing it. I mean, apprenticeships and that business should

[00:40:17] be doing very, very well. So someone said, I'm sure let's get some tech in here. Let's get

[00:40:23] some people who know tech, not just Tony Blair's, is it his son? His son, right?

[00:40:29] Kid. Kid. Yeah. Just okay. We've got a famous guy now. We need people who know what the

[00:40:32] hell they're doing. So both founders are going to be in executive positions with the company,

[00:40:39] which means they'll be helping drive the ship, which I think is good. They're not like leaving.

[00:40:43] It sounds like they're going to be in it at least for the next year or so.

[00:40:47] Yeah. Lock them in.

[00:40:48] So yeah. So lock them in. If they can bring people that know what they're doing,

[00:40:51] bring San Francisco talent and Silicon Valley folks into this company that has

[00:40:56] raised a ton of money. They were a unicorn at one point. I don't know if they still are,

[00:41:00] but you have a lot of money. You have a high profile founder. Now you have technology,

[00:41:04] you have people that know what they're doing there. You have a Y Combinator darling actually.

[00:41:10] Some of the new stories that I read. So yes, it'll make sense. I mean,

[00:41:14] the apprenticeship thing with high tech stuff, there may be some growing pains there.

[00:41:19] But I think ultimately this is a much better chance of succeeding than workday sucking up

[00:41:26] a company like hired scored. I give this a lot better chances of success because you don't have

[00:41:33] a workday bureaucracy to deal with. Multiverse is still a fairly flexible, small company in

[00:41:40] relation to workday. Totally agree. Totally agree.

[00:41:43] All right. Let's get to one of my favorite games. I think it's one of your favorite

[00:41:47] games as well. 2am in the bar. Who'd you rather everybody? Here we go. All right.

[00:41:53] Here's how we play. We talk about two companies, startups that have recently gotten funding

[00:41:57] and Chad and I choose who we'd rather. Let's play first up.

[00:42:04] We've got New York City based summer, a workplace student loan solution provider.

[00:42:09] They've raised $9 million in funding led by Rebalance Capital and Simper Virons.

[00:42:16] The funds will be used to expand the team and enhance the technology.

[00:42:20] Summer partners with employers to provide student loan and education assistant benefits.

[00:42:26] That is summer in corner number one. Corner number two, we have Kerry Loop,

[00:42:32] a Richardson, Texas based provider of a caregiver support platform. They've raised $20 million

[00:42:38] in series C funding. The company helps families manage their care needs by connecting them

[00:42:44] to an employer sponsored solution. Kerry Loop coaches provide professional support while its

[00:42:50] digital platform offers resources and tools to support caregiving. Chad, that is Kerry Loop and

[00:42:56] summer. Who'd you rather? I'm going to start with Kerry Loop. So $43 million in total funding

[00:43:02] and have been around for 12 years. They've created a marketplace for caregivers with

[00:43:07] a concierge service built in. And since most people have no clue what fucking services are available,

[00:43:14] let alone which ones that would fit for them and their needs, Kerry Loop could be pretty much the

[00:43:21] technical infrastructure and operating system for partners and healthcare solutions nationwide.

[00:43:27] On the other hand, summer, the only student repayment solution as a benefit I want to hear

[00:43:33] about is how companies can take on the burden themselves. I'm not interested in another scheme

[00:43:38] that puts a new shade of lipstick on the fucking corporate welfare pig. So it's 2am in the morning,

[00:43:43] in the club, it's bumping. Who would I'd rather? I'd rather Kerry Loop.

[00:43:47] What are you doing, Steph?

[00:43:50] All right, Kerry Loop. So both of these hit home for me. I had student debt

[00:43:56] and I have parents that I could help give care to. So the question for me is,

[00:44:05] partly who's in office? Because Biden is really good about excusing student loans. And if that

[00:44:09] trend continues, we may not have a need for a company called Summer because no one will have

[00:44:14] student debt. No, we will have, we'll still have student debt. But yes, I want to hear about

[00:44:20] tax benefits for companies that pay off student loans or maybe match student loan payments.

[00:44:26] Let's get creative around this, folks. Also on the other end of

[00:44:31] reducing the cost of college, that's a bigger question than corporate initiatives. But

[00:44:37] let's have something that incentivizes a company to help pay off student debt for their employees.

[00:44:43] To me, that is more exciting than let's just hire a company or buy a solution

[00:44:47] that people can then access and hopefully help pay down stuff. Now, on the care stuff,

[00:44:54] baby boomers, 77 million people, 10,000 people a day are retiring. That means sickness,

[00:45:00] that means care, that means assisted living, that means hospice. Like these are real issues

[00:45:06] for me. So I know they're big issues for a lot of other people. And that also,

[00:45:12] I think you could also carry in child care come into this. I don't know. But definitely on the

[00:45:18] aging parent thing, would I like to hire professionals to help me through that? Would

[00:45:22] I like to hire that have that benefit as someone who has parents to deal with? So for me as well,

[00:45:28] like I think they both deserve some applause. But yeah, maybe it's age bias or like where

[00:45:34] like I paid off my student loan 20 years ago. So I haven't really had to deal with that lately,

[00:45:37] whereas I have an 84 year old dad. So just recency bias, I think I'm also

[00:45:43] picking Carrie Loop at the corner of the bar, stepping on the sticky floor,

[00:45:48] sticky floor. All right, that is another game of who'd you rather we're going to take a quick

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[00:46:48] at acquire ROI.com and start transforming your talent acquisition today. All right Chad Waymo

[00:46:54] and Uber technically Uber eats are teaming up to launch automated Uber eats in Waymo's Phoenix

[00:47:01] service area customers can opt for a robot delivery from select merchants though they'll

[00:47:06] need to meet the vehicle outside to collect their order no word yet if Chipotle is participating in

[00:47:14] this test market but we'll let you know when we find out Chad what are your thoughts on Waymo's

[00:47:22] marriage with Uber eats? I think Waymo is definitely not the product for this. I mean they're

[00:47:29] also partnering with serve robotics which is one of those you know the smaller robots and go down

[00:47:35] the sidewalk yeah I see those in cities I don't see those like you know in rural areas where they

[00:47:42] can get beat up by you know baseball bats and shit like that but there's also Nuro and URO

[00:47:49] these are autonomous vehicles that are really they're built for this the Waymo cars are

[00:47:55] literally just built for humans to be inside so they're great for taxis but in this case

[00:48:00] I think the Nuro and the little sidewalk robot are probably the smart way to go and maybe I don't

[00:48:07] know we'll see some evolution of this but I think this is really interesting. The big question is

[00:48:13] do you care because you currently get stuff that's delivered to right to your doorstep and all you

[00:48:18] have to do is go out somebody delivers it to you you take it it's lovely but this one you got

[00:48:22] to go out to the you got to put your shoes on you got to go out to the driveway and I know

[00:48:27] this sounds fucking lazy but you got to do all those things open the door it should be in the trunk

[00:48:32] right so they pop the trunk you get the food out of the trunk you close the trunk and then you go

[00:48:37] back in is this something that you you think you're gonna do or you're just gonna insure it.

[00:48:41] I don't know if they have a buffet heat light in the trunk if they're keeping my food warm or

[00:48:46] not by the way Chad if it's if there's a barbacoa bowl in that trunk I'm walking through a snake

[00:48:52] pit and an alligator yeah to get to get my barbacoa bowl. Interestingly, yeah and if there's some if

[00:49:01] there's a blooming onion in there god damn it I'm fighting off I'm fighting off Vikings and Roman

[00:49:08] soldiers but we're gonna be in Phoenix next week for the the Paradox Analysts meeting

[00:49:15] and and I'm gonna try this out I'm gonna download Waymo I'm gonna be like take me to In-N-Out

[00:49:21] so I'm gonna try the taxi service out the people who have tried it that I've talked to really love it

[00:49:28] so why not deliver food as part of oh you've already downloaded the app as our YouTube viewers can see

[00:49:35] check that out at youtube.com slash at Chad Cheese anyway I'm a fan dude now I feel I feel kind

[00:49:42] of bad so now there's an employee that's gonna have to go take the food out to the car

[00:49:47] whereas today like DoorDash goes into the restaurant and then takes it so some to pick it up some poor

[00:49:52] slob flipping burgers is gonna have to like go out to the Waymo and put the food in and then say

[00:49:59] like go and then yes I'm gonna have to go get it now the good thing is the tips are refunded if

[00:50:05] you choose the Waymo so I think as a consumer more people than not will choose to have to go

[00:50:10] out to the street then pay the tip now that's in my suburb area if I live in a you know 50-story

[00:50:17] building I may not want to go down and get my food but for the suburbs baby bring my barbacoa

[00:50:23] bowl get the buffet heating light I'm hungry we out wow look at you you made it through an entire

[00:50:31] episode of the Chad and Chase podcast or maybe you cheated and fast forwarded to the end

[00:50:37] either way there's no doubt you wish you had that time back

[00:50:41] valuable time you could have used to buy a nutritious meal at Taco Bell

[00:50:46] enjoy a pour of your favorite whiskey or just watch Big Booty Latinas and bug fights on TikTok

[00:50:55] no you hung out with these two chuckleheads instead now go take a shower and wash off

[00:51:02] all the guilt but save some soap because you'll be back like an awful train wreck you can't look away

[00:51:11] and like Chad's favorite Western you can't quit them either we out welcome change agents to

[00:51:20] your go-to place for stories that ignite your spirit fuel your purpose and connect us all

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