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<ul class="summary-list"><li>Sam Altman says he prioritizes talent over age in his hiring decisions.</li><li>He said having a mix of inexperienced and experienced workers is important for tech companies.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/timeline-sam-altman-openai-shock-firing-microsoft-switch-2023-11?r=US&amp;IR=T">OpenAI CEO Sam Altman</a> says his hiring strategy is focused on talent over age.On <a target="_blank" class="" href="https://open.spotify.com/episode/6mvT6nqdjXEGQ83dRrWIKp">an episode</a> of Harry Stebbings's "The Twenty Minute VC (20VC)" podcast, the OpenAI CEO said that companies are best served by hiring a mix of younger, inexperienced people and more experienced people over 30."Inexperienced does not inherently mean not valuable," he said during the podcast episode published on November 4. Altman added it was worth taking a chance on young, high-potential people at the start of their careers as they could end up delivering high value.At the same time, Altman said he wouldn't be comfortable relying on an inexperienced employee who was just starting out for higher-stakes work, such as designing complex and expensive systems."You want both, and I think what you really want is just like an extremely high talent bar of people at any age, " Altman said. "A strategy that says 'I'm only going to hire younger people,' or 'I'm only going to hire older people,' I believe, would be misguided."The job market in Big Tech has become an increasingly polarized space with companies fighting over<a target="_blank" class="" href="https://www.businessinsider.com/ai-talent-wars-big-tech-ceos-recruiting-paying-huge-packages-2024-4"> C-suite-level AI talent</a>, while mid-level and junior employees are facing a more <a target="_blank" class="" href="https://www.businessinsider.com/millennial-cant-find-job-tech-blames-racial-discrimination-ai-2024-9">bleak hiring outlook</a>. Big Tech has been engaged in a talent war for top AI researchers amid an industry-wide AI arms race. In one recent example, Google struck a $2.7 billion deal with AI startup <a target="_blank" href="http://Character.ai">Character.ai</a><a target="_blank" rel="" href="https://www.businessinsider.com/character-ai-in-talks-to-raise-google-2024-2">.,</a> reportedly largely to rehire former Googler Noam Shazeer.In a similar move, Microsoft previously paid Inflection $650 million for a licensing deal and to <a target="_blank" rel="" class="" href="https://www.businessinsider.com/inflection-ai-new-game-plan-mustafa-suleyman-joined-microsoft-2024-5">poach its founders Mustafa Suleyman and Karen Simonyan.</a>However, the battle for high-level talent may not be translating down to more junior employees. The job market appears to have tightened for more junior roles, with <a target="_blank" class="" href="https://www.businessinsider.com/tech-graduate-job-market-ai-layoffs-2024-10">recent graduates recently</a> telling BI that they are facing a tough job market. They blame the rise of AI, offshoring, and tech layoffs for making roles more competitive.In a recent survey of 750 workers struggling to find work in the US, BI found over a dozen recent college graduates said they can't find a tech role, despite relevant internships and bachelor's degrees from top schools.While Altman may prioritize talent over age at OpenAI, some older tech employees say they are <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible" href="https://www.businessinsider.com/millennials-ageism-tech-jobs-gen-z-boomers-2024-9">experiencing ageism</a> in the workforce. They told BI they are <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible" href="https://www.businessinsider.com/millennials-ageism-tech-jobs-gen-z-boomers-2024-9#:~:text=John%20Zeman%2C%20a,beyond%20%22mere%20speculation.%22">more at risk of layoffs</a> or have already aged <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible" href="https://www.businessinsider.com/shocked-when-recruiter-said-too-old-tech-job-ageism-2024-3">out of tech roles.</a>Gen Zers have also <a target="_blank" rel="noopener noreferrer" class="c-link c-link--focus-visible" href="https://www.businessinsider.com/mistake-to-undervalue-gen-zers-in-the-workplace-experts-say-2024-10">previously told BI</a> they experience negative stereotyping in the workplace because they're perceived as "lazy." One 25-year-old worker said they felt they were denied promotions because of their age.

Sam Altman's hiring strategy bets on talent, not age

<ul><li>India retains the third place among the countries with the most number of unicorns.</li><li><keyword id="17199584" type="General" weightage="20" keywordseo="most-unicorns" source="Orion">Most unicorns</keyword> came from fintech, SaaS, e-commerce, AI and healthtech.</li><li>Currently, there are 171 fintech unicorns worldwide, with an increase of 32 from the previous year.</li></ul>The year of 2023 has been a bad year for the once booming startups, as the funding winter has taken a turn for the worse. Startups have also laid off many people, as fewer funds flowed in. However, startups from a few sectors, from where the world’s most successful unicorns come from, are still attracting top young talent and smart capital, says the Hurun Global Unicorn Index 2023. Outside the US and China, India is the leader in terms of countries which have seen a boom in unicorns. India has maintained its position in the top three countries with the highest number of unicorns, which now stands at 68. The most valuable unicorn is BYJU'S, an online education company worth $22 billion, followed by Swiggy, an on-demand delivery <keyword id="138263" type="General" weightage="20" keywordseo="startup" source="Orion">startup</keyword>, and Dream11, a fantasy sports platform, both valued at $8 billion each. Interestingly, India has co-founded 70 unicorns outside of India compared with 68 in India. This takes the number of unicorns Indians have founded across the world to 138. Here are the top sectors from which the unicorns come from. Fintech: Currently, there are 171 fintech unicorns worldwide, with an increase of 32 from the previous year, making it the industry with the highest number of unicorns. Among the fintech unicorns, 20% are related to payment technology. The three most valuable fintech unicorns are Ant Group, valued at $120 billion, followed by Stripe, a payments platform valued at $50 billion, and WeBank, valued at $33 billion. The total value of fintech unicorns is $728 billion, which represents 17% of the total value of all unicorns, highlighting the dominance of fintech in the unicorn ecosystem. SaaS: SaaS is the second industry with the highest number of unicorns, with a total of 136. Among the SaaS unicorns, the most valuable are Canva, an Australia-based company valued at $21 billion, followed by Shanghai-based Xiaohongshu valued at $14 billion, and Munich-based Celonis valued at $13 billion. The total value of all SaaS unicorns is $437 billion. E-commerce: The e-commerce industry has a total of 120 unicorns, with a combined value of $364 billion. The most valuable e-commerce unicorns are apparel retailer Shein, valued at $65 billion, followed by J&amp;T Express, based in Indonesia and valued at $15 billion, and San Francisco-based Faire, valued at $12 billion. The United States has the largest number of e-commerce unicorns, with 35, followed by China with 24 and India with 17. Artificial Intelligence: Artificial Intelligence (AI) is the fourth industry with the highest number of unicorns, boasting a total of 105, which represents an increase of 21 from the previous year. San Francisco-based OpenAI, with a valuation of $20 billion, leads the industry followed by Grammarly, valued at $13 billion, and Talkdesk, valued at $10 billion. HealthTech: HealthTech is the fifth largest sector with 92 unicorns, which is an increase of 12 from the previous year, representing 6.8% of all unicorns. San Francisco has experienced the most unicorn activity in the HealthTech industry and is home to 18 unicorns. The most valuable HealthTech startups are Ro, based in New York, and WeDoctor, based in Hangzhou, both valued at $7 billion each, followed by Hinge Health, valued at $6.2 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/rils-q4-to-be-driven-by-sustained-momentum-in-retail-business-o2c-to-see-modest-growth/articleshow/99629278.cms">RIL’s Q4 to be driven by sustained momentum in retail business, O2C to see modest growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zomatos-cost-control-efforts-are-hurting-the-startup-strike-at-blinkit-to-hurt-revenues-by-1/articleshow/99609906.cms">Zomato's cost control efforts are hurting the startup: Strike at Blinkit to hurt revenues by 1%</a>

Startups in these sectors beat funding winter, attract young talent and capital

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hi! Kamala Harris' VP pick is in, tapping Minnesota Gov. Tim Walz <a target="_blank" href="https://www.businessinsider.com/kamala-harris-names-tim-walz-vice-president-pick-minnesota-2024-7">as her running mate</a>. Here's how <a target="_blank" href="https://www.businessinsider.com/business-leaders-respond-kamala-harris-selects-tim-walz-vp-2024-8">the business world is reacting</a>.In today's big story, we're looking at our annual list of the most promising startups.What's on deck:<ul><li>Markets: The trade that helped upend markets <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-carry-trade-yen-boj-interest-rates-selloff-2024-8">can still do a lot more damage</a>.</li><li>Tech: YouTube's biggest star is <a target="_blank" href="https://www.businessinsider.com/youtuber-mrbeast-embroiled-in-controversy-involving-staff-amazon-show-2024-8">starting to collapse</a>.</li><li>Business: A weaker job market could give employers cover to <a target="_blank" href="https://www.businessinsider.com/economic-fears-job-cuts-employers-less-flexible-with-workers-2024-8">pull back on work perks we've come to enjoy</a>.</li></ul>But first, this one has some promise.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Up-and-comers</h2><div type="image" title="Image of top startup founders" height="900" width="1200" msid="112349968" hostid="261" sizebytes="138082"></div>Remember these names.Business Insider spoke to dozens of venture capitalists to compile its <a target="_blank" href="https://www.businessinsider.com/most-promising-startups-2024-according-top-vcs-2024-8">annual list of the most promising startups</a>.We identified 85 young companies that are on the rise based on recommendations from 50 top VCs. Investors highlighted their portfolio companies and startups they had no financial ties to.Surprise! AI-focused startups made up a majority of the list. Leena Rao, who oversaw the list and leads BI's VCs and startups team, estimated about 80% of the startups included are focused on AI.But there is some nuance amid the AI frenzy. Instead of large-language models or all-purpose AI tools, these startups focus on specific sectors. From coworking spaces to weather prediction to military defense, they want to leverage AI in a niche.Outside of AI, some familiar faces remain. Healthcare and fintech are still a draw even as AI has overtaken the startup community.<div type="image" title="A sparkling cardboard robot" height="1000" width="1332" msid="112349970" hostid="261" sizebytes="49520"></div>As differentiated as AI startups try to be, the market has undeniably become oversaturated.That's par for the course in startup world. When investors are willing to throw a ton of cash at an idea, people try to replicate it.Hype builds until there are too many startups and not enough market share. Then comes consolidation. A new trend emerges. Rinse and repeat.But unlike previous trends — social-media apps of the late aughts or the 2010s' personal-finance tools — AI comes with a massive price tag. It's not cheap to run AI models. It's also not immediately clear how they can generate revenue.Historically, the tech industry doesn't mind burning cash for the sake of growth and innovation, but times are different.We're no longer in the <a target="_blank" href="https://www.businessinsider.com/zirp-end-of-cushy-big-tech-job-perks-mass-layoffs-2024-2">zero interest rate phenomenon</a>, and the biggest companies in the world are struggling to pitch investors on their AI investments being worth it.Now, cracks are starting to show in the AI ecosystem despite being less than two years into the revolution.That's not to say AI is overblown. The tech will have a massive impact on the world. But the industry will have to navigate some rough waters in the meantime.It's tough to say who will make it out alive, but these startups have a better shot than most.<h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in markets</h2><div type="image" title="stock market plunges against globe" height="1000" width="2000" msid="112349972" hostid="261" sizebytes="109976"></div><ol><li>Woah, we're halfway there! Unwinding the widely popular carry trade that relied on the Japanese yen <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-carry-trade-yen-boj-interest-rates-selloff-2024-8">will still take some time</a>, according to JPMorgan. Arindam Sandilya, the bank's cohead of global FX strategy, said speculative investors unwinding the trade are only "50% to 60% complete."</li><li>The AI hype bubble might be about to burst. The panicked sell-off in stocks might mark the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-ai-stocks-bubble-recession-prediction-economy-outlook-2024-8">beginning of the end of the AI craze</a> among investors, market strategist Paul Dietrick said. He pointed to similarities between the recent sell-off and the dot-com crash.</li><li>Some Wall Street strategists smell blood in the water. As some investors panic, strategists at firms like UBS and Oppenheimer <a target="_blank" href="https://www.businessinsider.com/stock-market-crash-investing-strategy-volatility-economy-earnings-growth-ubs-2024-8">see a lot of upside for US stocks</a>. "Such sell-offs can offer an opportunity to 'catch babies tossed out with the bath water,'" wrote John Stoltzfus, the chief investment strategist at Oppenheimer.</li></ol><h2 id="545818b4-6561-4465-a6aa-94bbe2d1ae4f">3 things in tech</h2><div type="image" title="AI Hand holding a scale." height="690" width="1378" msid="112349963" hostid="261" sizebytes="49296"></div><ol><li>Prosecutors used an AI tool to send a man to prison for life. Now the person who created it is under investigation. Adam Mosher claimed his AI crime tool Cybercheck helped cops and prosecutors with thousands of cases. But <a target="_blank" href="https://www.businessinsider.com/ai-crime-tool-cybercheck-founder-adam-mosher-investigation-2024-8">serious questions have been raised about the program and its reliability</a>, and Mosher is now being investigated for false testimony.</li><li>YouTube's biggest star is embroiled in some beastly scandals. Jimmy Donaldson, the creator known as MrBeast, is at the center of <a target="_blank" href="https://www.businessinsider.com/youtuber-mrbeast-embroiled-in-controversy-involving-staff-amazon-show-2024-8">some major workplace controversies</a>. Participants on his reality show claim neglectful on-set conditions, and his former employee is accused of inappropriately messaging a minor.</li><li>Big Tech reform is coming, but Washington won't be the one doing it. Congress can't or won't act, so people who want Big Tech companies to change their ways <a target="_blank" href="https://www.businessinsider.com/big-tech-antitrust-courts-not-congress-2024-8">are trying to do it through the courts</a>. But it's unclear whether courtroom challenges will have any real, lasting impact.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="An old, cobweb-covered briefcase with an American flag tie resting on top, surrounded by pink slips marked 'Notice of Termination" height="1000" width="2000" msid="112349975" hostid="261" sizebytes="73158"></div><ol><li>Panic! At the job market. A weaker-than-expected jobs report triggered fears of an imminent recession, a nasty wake-up call that <a target="_blank" href="https://www.businessinsider.com/jobs-report-labor-market-hiring-layoffs-quits-recession-sahm-rule-2024-8">danger is a lot closer than we thought</a>. That means employees may have to brace themselves for brutal layoffs and <a target="_blank" href="https://www.businessinsider.com/economic-fears-job-cuts-employers-less-flexible-with-workers-2024-8">kiss goodbye that four-day workweek dream</a>.</li><li>Uber is on the up. After years of losses, <a target="_blank" href="https://www.businessinsider.com/5-reasons-why-uber-is-now-profitable-2024-8">the company reported better-than-expected second-quarter earnings</a> on Tuesday. Its core business, ride sharing, is booming and its delivery bets are paying off. Plus, Uber's <a target="_blank" href="https://www.businessinsider.com/uber-ads-reaches-1-billion-annual-revenue-run-rate-2024-8">ad business hit a $1 billion annual run rate</a> — and there's still room to grow.</li><li>Elon Musk's war with advertisers just hit a turning point. <a target="_blank" href="https://www.businessinsider.com/elon-musk-x-lawsuit-advertisers-boycott-antitrust-2024-8">X is suing a group of advertisers</a>, accusing them of violating antitrust law through an advertising boycott. The platform has lost billions in ad revenue since their departure.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li><a target="_blank" rel="noopener noreferrer" href="https://www.businessinsider.com/google-netflix-openai-executives-host-kamala-harris-fundraiser-2024-8">Google, Netflix, and OpenAI execs are hosting a fundraiser for Kamala Harris</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/nvidia-doj-investigation-runai-big-tech-crackdown-antitrust-acquisition-competition-2024-8">Even Nvidia can't escape the government's crackdown on Big Tech</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/ravin-jesuthasan-why-companies-enforce-rto-mandates-future-of-work-2024-8">A future-of-work expert explains why some companies are willing to risk losing talent to get workers back to the office</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/gen-z-favorite-work-perk-having-own-desk-to-decorate-2024-7">Assigned desks are now a work perk — and Gen Zers are making themselves right at home</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/several-top-news-sites-shun-openai-searchgpt-search-engine-2024-8">The New York Times and other top news sites block OpenAI's new SearchGPT web crawling bot</a>.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Fortune 500 ranking of world's largest corporations released.</li><li>First batch of Chinese G60 Starlink satellites reportedly launches today. The endeavor is in direct competition with the US's Elon Musk-backed Starlink.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Annie Smith, associate producer, in London. Amanda Yen, fellow, in New York.

In an oversaturated market for AI companies, these startups have the best shot at surviving

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Almost Friday! You'll likely never be as rich as Nvidia's Jensen Huang, but you can start to write emails like him. <a target="_blank" href="https://www.businessinsider.com/nvidia-jensen-huang-email-style-concise-key-points-insiders-2024-5">More on his "TL;DR approach."</a>It's the last day of our Memorial Day sale for <a target="_blank" href="https://www.businessinsider.com/subscription/limited-offer">80% off a Business Insider subscription</a>.In today's big story, we're looking at the wave of talent-focused deals <a target="_blank" href="https://www.businessinsider.com/wave-ai-acquisitions-deals-who-could-get-bought-2024-5">set to shake up the AI startup market</a>.What's on deck:<ul><li>Markets: The biggest threat to obesity drug makers <a target="_blank" href="https://markets.businessinsider.com/news/stocks/south-park-stock-market-jinx-glp1-weight-loss-stocks-ozempic-2024-5">could be South Park</a>.</li><li>Tech: Why is a popular email service still stuck in the Stone Age? <a target="_blank" href="https://www.businessinsider.com/gmail-update-fix-email-tabbed-inbox-2024-5">It's time to fix Gmail</a>.</li><li>Business: The workplace habits that <a target="_blank" href="https://www.businessinsider.com/things-you-do-at-work-that-annoy-your-boss-2024-5">annoy the hell out of your boss</a>.</li></ul>But first, forget the milk; we'll take the whole cow.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">M&amp;A(I)</h2><div type="image" title="net catching emojis of people on computers" height="1440" width="1920" msid="110568815" hostid="261" sizebytes="119890"></div>In the age of AI, if you can't hire them, acquire them.Few things are more coveted in business nowadays than AI specialists. Everyone wants to supercharge their business with generative AI.But with only so many AI specialists, the talent doesn't come easy. Compensation is steep — seven-figure pay packages — and <a target="_blank" href="https://www.businessinsider.com/ai-talent-wars-big-tech-ceos-recruiting-paying-huge-packages-2024-4">competition is even fiercer</a>. You know it's serious when Mark Zuckerberg is getting involved in recruiting.So why worry about one AI specialist when you can get a company full of them?The future of the AI industry could be a wave of "acquihires," writes Business Insider's Rebecca Torrence and Riddhi Kanetkar, who <a target="_blank" rel="noopener" href="https://www.businessinsider.com/wave-ai-acquisitions-deals-who-could-get-bought-2024-5">mapped out potential buyers and sellers in the space</a>.The M&amp;A(I) industry is already off to a hot start this year, with 55 exits for AI startups in the first quarter, according to Crunchbase data.And it's not just cutting-edge tech companies that are shopping. Acquihires give non-tech companies a chance to jumpstart an AI strategy that'd be difficult to stand up otherwise.<div type="image" title="hand grabbing" height="1440" width="1920" msid="110568817" hostid="261" sizebytes="210518"></div>Acquihires come with plenty of risks.Deals can be tricky in the best of circumstances, let alone in an overvalued market with high interest rates.Companies looking to cut a deal are also flying a bit blind. <a target="_blank" href="https://www.businessinsider.com/ai-investments-vcs-startups-valuations-2024-3">VCs eagerness to back AI startups</a> means there are plenty of companies big on valuation but little on substance.And then there's the risk the people acquired aren't a good fit.Technologists have the luxury of being particular about their work culture. Remember when OpenAI employees <a target="_blank" href="https://www.businessinsider.com/openai-employees-did-not-want-to-work-for-microsoft-2023-12">weren't pumped about potentially working at Microsoft</a> amid the Altman ouster?But some startups might not have a choice if funding gets tight and an acquihire is their only option. And if that's the case, that's a problem, Julia Gudish Krieger, a managing partner at Pari Passu Venture Partners, told me.She's rarely seen acquihires work because the motivation for the deal is often more about getting a soft landing than having a passion for the product they'll be promoting or building in their new roles."If there are real synergies and the incoming group is genuinely excited to roll up their sleeves and help co-create, then I'm sure an acquihire can be magic in theory," Gudish Krieger said. "But this is easier said than done."<h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="south park" height="650" width="1300" msid="110568818" hostid="261" sizebytes="35180"></div><ol><li>Oh my god! They killed Novo Nordisk! South Park's latest Ozempic storyline <a target="_blank" href="https://markets.businessinsider.com/news/stocks/south-park-stock-market-jinx-glp1-weight-loss-stocks-ozempic-2024-5">could be bad news for obesity drug makers and their investors</a>. Publicly traded US companies prominently featured on the comedy show have gone on to underperform the S&amp;P 500.</li><li>The stock market and the economy are going their separate ways. Corporate earnings show continued growth despite a GDP slowdown. While rare, the divergence of the two <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-rare-setup-slowing-economy-earnings-growth-profits-2024-5">typically means a great environment for investors</a>. The S&amp;P 500 has historically delivered average quarterly returns of 3.6% when that happens.</li><li>Don't expect stocks to slow down in June, according to Fundstrat. The always-optimistic Tom Lee sees the stock market rising 4% next month. Continued disinflation coupled with lots of cash sitting on the sidelines means the market has more room to run despite reaching record highs. <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-june-gains-5-catalysts-inflation-earnings-growth-2024-5">Here's what else has him so bullish</a>.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="A hat over a laptop" height="1500" width="2000" msid="110568819" hostid="261" sizebytes="109116"></div><ol><li>Summer fit check: tech edition. In a wild turn of events, tech executives are grabbing (good) attention for their style. Fashion experts shared how <a target="_blank" href="https://www.businessinsider.com/summer-style-fashion-tech-workers-zuckerberg-gates-yaccarino-2024-5">tech workers can upgrade their often monotone wardrobes</a>.</li><li>Gmail is stuck in the Stone Age. When Google introduced the tabbed inbox in 2013, it was a game changer. There was finally a way to separate important emails from the clutter. But in the decade since, <a target="_blank" href="https://www.businessinsider.com/gmail-update-fix-email-tabbed-inbox-2024-5">Gmail has failed to keep up.</a></li><li>Apple comes under pressure. A group of French trade associations have implored CEO Tim Cook to <a target="_blank" href="https://www.businessinsider.com/publishers-advertisers-ask-tim-cook-halt-apple-web-eraser-tool-2024-5">halt the rollout of a new "web eraser" feature</a>, over fears it could have a catastrophic impact on the online advertising industry. The tool would allow Safari users to remove unwanted content like ads, text, and images from webpages.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Businessman Looking at 'Help Wanted' Sign that appears as a Giant Hurdle Before him" height="900" width="1200" msid="110568820" hostid="261" sizebytes="82832"></div><ol><li>A bizarre government rule is preventing young men from getting jobs. America's young men aren't working. Recessions and low wages could be to blame, but our <a target="_blank" href="https://www.businessinsider.com/employment-young-men-labor-force-jobs-unemployment-insurance-hiring-2024-5">broken unemployment system</a> might ultimately be making employers reluctant to hire them.</li><li>Your boss probably thinks you're annoying, too. As much as your boss gets on your nerves, chances are <a target="_blank" href="https://www.businessinsider.com/things-you-do-at-work-that-annoy-your-boss-2024-5">you're not completely innocent.</a> From complaining to asking too many questions, career experts shared with BI the employee behaviors that drive bosses crazy.</li><li>Elon Musk in the White House? Donald Trump and the Tesla CEO have discussed a <a target="_blank" href="https://www.businessinsider.com/elon-musk-could-be-donald-trump-advisor-wsj-reports-2024-5">potential advisory role</a> if the ex-president wins November's presidential election, The Wall Street Journal reported. Trump could give Musk input on border security and economic policies, per the outlet.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/sleep-loss-deprivation-america-reasons-health-inequality-economic-stress-money-2024-5">The real reason Americans can't get enough sleep</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/fisker-ceo-all-hands-meeting-announcing-layoffs-2024-5">Inside Henrik Fisker's staff meeting, where the CEO announced more layoffs hitting his electric car company</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/biden-billion-weapon-package-israel-haunt-him-rafah-red-line-2024-5">Biden's $1 billion weapons package to Israel is coming back to haunt him</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/how-software-engineer-negotiated-salary-big-tech-meta-tesla-salesforce-2024-5">A software engineer worked at Tesla, SAP, and Salesforce. Here's how he negotiated his salary, including a $520,000 Meta offer.</a></li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/intelliphones-ai-apple-iphone-android-google-2024-5">We had cellphones, then feature phones, then smartphones. Now, 'IntelliPhones' are coming.</a></li><li><a target="_blank" href="https://www.businessinsider.com/millennial-retired-early-financial-independence-fire-strategies-six-figure-income-2024-5">A millennial who had a mini-retirement at 38 shares her strategies for achieving financial independence — and why she wants to return to the workforce</a>.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Today's earnings: Costco, Best Buy, and other <a target="_blank" href="https://markets.businessinsider.com/earnings-calendar">companies are reporting</a>.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/george-glover">George Glover</a>, reporter, in London. <a target="_blank" href="https://www.businessinsider.com/author/grace-lett">Grace Lett</a>, associate editor, in Chicago.

AI startups could see a wave of 'acquihires,' and it might get messy

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello! Elon Musk and Taylor Swift might not appear to be natural allies, but neither of them seems to like that <a target="_blank" href="https://www.businessinsider.com/elon-musk-says-taylor-swift-concerned-about-jet-tracking-accounts-2024-2">college kid who tracks celebrities' private planes online</a>.In today's big story, we're looking at <a target="_blank" href="https://www.businessinsider.com/startups-to-bet-your-career-on-in-2024-2024-2">startups worth betting your career on</a>.What's on deck:<ul><li>Markets: Regional lender NYCB's plummeting stock price is stoking fears of <a target="_blank" rel="noopener" href="https://www.businessinsider.com/nycb-regional-bank-fears-commercial-real-estate-turmoil-fears-2024-2">further banking turmoil</a>.</li><li>Tech: Hundreds of layoffs at Amazon's <a target="_blank" href="https://businessinsider.com/post/preview?svapi&amp;post_id=65c2605b72404cb055752f64">One Medical and Pharmacy units</a>.</li><li>Business: A new huge sports streaming service <a target="_blank" href="https://www.businessinsider.com/espn-warner-disney-fox-launch-sports-streaming-platform-change-tv-2024-2">could upend the TV landscape</a>.</li></ul>But first, you should try applying there!If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h2>The big story</h2><h3>Career makers</h3><div type="image" title="A four-square collage of startup founders." height="450" width="600" msid="107499511" hostid="261" sizebytes="20968"></div>Which startup would you recommend a friend or family member should work at?That was the prompt for Business Insider's VC and startups team as it compiled <a target="_blank" href="https://www.businessinsider.com/startups-to-bet-your-career-on-in-2024-2024-2">a list of early-stage companies to bet your career on</a>.The team was armed with plenty of information, having worked on lists identifying the <a target="_blank" href="https://www.businessinsider.com/most-promising-startups-2023-according-top-vcs-2023-7">hottest startups</a> and <a target="_blank" href="https://www.businessinsider.com/100-best-early-stage-seed-vc-investors-startups-2023-5">backers</a>. But a challenging startup environment — where layoffs and a funding drought have plagued the industry — made an already tough task even more difficult.The team still managed to <a target="_blank" href="https://www.businessinsider.com/startups-to-bet-your-career-on-in-2024-2024-2">come up with 44 startups across a range of industries</a>. The list doesn't have specific parameters, Leena Rao, the deputy editor of BI's VC and startups team, told me.When it comes to picking a startup to work at, the sweet spot is often a mid- to late-stage company. It offers more job security than a young startup, but better upside (see: equity) than one ready for an exit.Startups that made the cut include AI community Hugging Face, newsletter platform Beehiiv, and women's health company Maven, to name a few.<div type="image" title="Venture Capitalist Businessman walking quickly towards a bright opening, money falling from briefcase" height="500" width="1000" msid="107499514" hostid="261" sizebytes="42250"></div>The world of startups is in a fascinating dilemma.At first glance, things are bad. Like, <a target="_blank" href="https://www.businessinsider.com/startup-mass-extinction-event-has-begun-venture-capital-2023-6">dinosaurs-staring-at-an-asteroid-careening-toward-Earth</a> bad. Even the people who are supposed to invest in startups <a target="_blank" href="https://www.businessinsider.com/venture-capital-fundraising-decline-leads-to-layoffs-restructuring-quitting-2024-1">are giving up</a>.But as bleak as the industry looks, some firms are still doing great.Artificial intelligence is the most obvious sector full of hope, and features prominently on this year's list.The success in AI juxtaposed with the issues other startups face has created an even wider gap between the "<a target="_blank" href="https://www.businessinsider.com/vcs-2023-startup-fundraising-challenges-2023-12">haves" and the "have nots,"</a> as BI's Ben Bergman previously wrote.How that impacts future innovations will be interesting. With so much money pouring into AI startups, founders' attention will naturally be drawn to the tech when thinking about their next project.So, if you think AI hasn't penetrated your industry yet, just wait. Either a startup is working on it, or an investor is looking for one that will.Meanwhile, the volatility among startups comes at a time of broader instability for the tech industry.<a target="_blank" href="https://www.businessinsider.com/tech-new-normal-constant-layoffs-job-cuts-google-amazon-meta-2024-1">Waves of layoffs hit Big Tech</a> throughout 2023 – and even though the pace of redundancies has slowed down, there's still a <a target="_blank" href="https://www.businessinsider.com/post/preview?svapi&amp;post_id=65c2cdb804b5f0737c71da78">grim feeling in the industry</a>. Executives at <a target="_blank" href="https://www.businessinsider.com/meta-earnings-q4-2023-mark-zuckerberg-hiring-2024-2">Meta</a> and <a target="_blank" href="https://www.businessinsider.com/amazon-earnings-hints-more-layoffs-despite-strong-financial-results-2024-2">Amazon</a> hinted at not being as aggressive with hiring plans going forward on earnings calls earlier this month.Meanwhile, some longtime tech employees are questioning whether their <a target="_blank" href="https://www.businessinsider.com/news-today-december-22-google-culture-ai-bard-2023-12">companies' once-beloved culture</a> has changed forever.All of that creates an interesting ecosystem for talent, as opportunities to work at high-flying startups and more secure roles in Big Tech are on track to become harder to come by.<h2>3 things in markets</h2><div type="image" title="Flagstar Bank" height="1536" width="2048" msid="107499517" hostid="261" sizebytes="136350"></div><ol><li>NYCB is stoking fears of more banking turmoil. The regional lender's shares tumbled 22% Tuesday to trade at their lowest level in a quarter of a century after Moody's downgraded it to "junk" status. Some investors are worried that its struggles signal a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/nycb-regional-bank-fears-commercial-real-estate-turmoil-fears-2024-2">looming commercial-real-estate crisis</a>.</li><li>Cathie Wood's Ark Invest hasn't been a good bet for investors, according to Morningstar. An analysis by the research company found Ark Invest <a target="_blank" href="https://markets.businessinsider.com/news/funds/cathie-wood-ark-invest-wealth-destroyed-tech-stocks-morningstar-arkk-2024-2">destroyed $14 billion in wealth over the past decade</a>. Ark Innovation, the firm's flagship ETF, is down 8% on the year and roughly 70% from its peak in early 2021.</li><li>Paul Tudor Jones sounds off on the "debt bomb" looming over the US. The billionaire investor said the government's pace of borrowing and spending is what's behind the country's economic growth. "<a target="_blank" href="https://markets.businessinsider.com/news/bonds/us-debt-economy-outlook-government-spending-deficit-paul-tudor-jones-2024-2">We've got an economy on steroids, and it's unsustainable</a>," he said in a recent interview.</li></ol><h2>3 things in tech</h2><div type="image" title="A photo illustration of a hand holding a phone with the YouTube logo on the screen." height="401" width="600" msid="107499519" hostid="261" sizebytes="10922"></div><ol><li>YouTube has become one of the biggest pay-TV services in the US. With more than 8 million subscribers, YouTube TV is the fourth largest pay-TV service, <a target="_blank" href="https://www.businessinsider.com/youtube-tv-fourth-biggest-pay-tv-cable-broadband-bundle-google-2024-2">scoring a major win for YouTube and parent company Google</a>. The company also appears to be interested in expanding its offerings; On Monday, YouTube said <a target="_blank" href="https://www.businessinsider.com/youtube-apple-vision-pro-app-roadmap-2024-2">an app for Apple's Vision Pro</a> is "on our roadmap."</li><li>Amazon's One Medical and Pharmacy units cut a "few hundred" jobs. The layoffs are part of <a target="_blank" href="https://businessinsider.com/post/preview?svapi&amp;post_id=65c2605b72404cb055752f64">a cost-cutting mandate</a> that could save One Medical $100 million as Amazon exerts more control over the unit.</li><li>Move over, App Store — there's a new marketplace in town. OpenAI launched GPT Store specifically for builders to share their generative AI projects. BI's Samantha Stokes took a look at <a target="_blank" rel="noopener" href="https://www.businessinsider.com/openai-gpt-store-most-popular-apps-2024-2">13 of the most popular apps</a> available.</li></ol><h2>3 things in business</h2><div type="image" title="An illustration of a young couple without kids." height="300" width="600" msid="107499520" hostid="261" sizebytes="21514"></div><ol><li>DINKs are living the new American dream. Dual income, no kids couples are<a target="_blank" href="https://www.businessinsider.com/parents-dinks-winning-childfree-economy-finances-income-vacation-retirement-kids-2024-2"> living it up with vacations, financial stability, and the freedom of choice</a>. As the stigma around foregoing children lessens, DINKs are emerging as an aspirational class for young people.</li><li>iHeartRadio's broken promises (Taylor's version). Two years ago, iHeartRadio, which owns 850 radio stations nationwide, promised to only play "Taylor's Version" of Taylor Swift songs. An analysis of data from six iHeart stations shows that <a target="_blank" href="https://www.businessinsider.com/post/preview?svapi&amp;post_id=65c24edf178f29663ab0377e">the company broke that promise</a>.</li><li>ESPN, Warner Bros., and Fox are teaming up to launch a new sports streaming service. The three companies <a target="_blank" href="https://www.businessinsider.com/espn-warner-disney-fox-launch-sports-streaming-platform-change-tv-2024-2">revealed their "all-in-one premier" joint venture</a> in a press release cosigned by Bob Iger, Lachlan Murdoch, and David Zaslav on Tuesday. If priced suitably, the platform could <a target="_blank" href="https://www.businessinsider.com/espn-wbd-new-sports-streaming-service-could-kill-cable-tv-2024-2">kill off cable TV for good</a>.</li></ol><h2>In other news</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/house-republicans-2-big-losses-one-night-still-a-mess-2024-2">House Republicans failed to pass two votes on Tuesday: impeaching Mayorkas and aid to Israel</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/bluesky-social-media-app-invite-open-ceo-jay-graber-interview-2024-2">Bluesky is finally open to everyone. But will anyone come? We ask its CEO</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/nikki-haley-loses-nevada-gop-primary-none-of-these-candidates-2024-2">Even without Trump on the ballot, Nikki Haley loses Nevada GOP primary to 'None of These Candidates'</a></li></ul><h2>What's happening today</h2><ul><li>Today's earnings: Uber, Alibaba, The Walt Disney Company, and others <a target="_blank" href="https://markets.businessinsider.com/earnings-calendar">are reporting today</a>.</li><li>Fortegra is expected to announce its final IPO pricing.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/george-glover">George Glover</a>, reporter, in London.

The job market for startups and Big Tech is in a weird spot 

<ul class="summary-list"><li>Barthélémy Kiss, 36, is a politics graduate running his second AI company Powder. </li><li>He said creative thinkers from humanities backgrounds are necessary to push AI forward.</li></ul>This as-told-to essay is based on a transcribed conversation with Barthélémy Kiss, a 36-year-old AI entrepreneur in Paris. The conversation has been edited for length and clarity.My journey into AI started in 2015 when I co-organized the "Hello Tomorrow" startup conference in Paris. I heard a pitch that blew me away. Eric Risser, my future cofounder at Artomatix, was presenting an AI image-generation technique. This depiction of artificial intelligence — still a developing field back then — showed computers mimicking and augmenting human creativity. I was so excited and knew I needed to participate in this project.After building Artomatix, which was acquired by Unity in 2020, I co-founded Powder in 2018, my second startup in the AI space. We've created a PC app using half a dozen AI approaches to help edit long videos for video game streamers.Working on this startup, I've learned that people with a liberal arts background have a major edge in our industry. The liberal arts grads we've hired have a creative, human-centric approach to understanding the best applications of AI in their respective fields. They have a hunger for constant education and a desire for self-improvement, which is essential in this space. At a core level, liberal arts disciplines hone critical thinking. We need critical thinkers to challenge the results of AI. Models can hallucinate, so you need to be able to cross-reference data.<h2>We need creative thinkers to get the best out of AI technology</h2>Human creativity is crucial in the AI space. AI models still require huge data sets to come up with creative solutions and don't adapt their learnings as dynamically as humans. Humans definitely have the upper hand when it comes to creativity on the spot.In 2023, there was lots of excitement about foundational models like ChatGPT, Midjourney, and Runway. We're only just scratching the surface of what this trend will bring. Creative people can connect the dots in unexpected ways to harness this new technology in the most convincing way.When hiring, we're looking for passion about what we do and a skillset in the intersection between gaming, video content, and AI. Candidates don't need to have AI experience. Even within our most technical research team, two members previously worked on topics adjacent to AI, but not strictly AI, like data engineering and content labeling.<h2>Career switchers and arts grads have a home in AI</h2>Most of Powder's staff are taking a new direction in their career when they start, simply because an application that harnesses AI is so new.With this in mind, career switchers have a home in AI-related companies. We have a former creative in the ad industry who's now a UX designer, somebody else who was a trained architect and is now our front-end developer, and a former movie director who became a YouTuber and later our social-media manager.When people embrace career changes, it shows they're risk-takers. These kinds of employees will thrive provided their company supports them to learn and develop on the job.I studied political sciences, and my cofounder Stan is a fine art graduate who also studied moviemaking. He created our prototype and has always seen product design artistically. Our chief technology officer, Maryan, studied literature and macroeconomy before progressively moving into AI. His love for writing and economics helped him learn to become a great code writer. He says code is like literature: it needs to be written well and easily understood by anyone who reads it.Many companies in the AI industry are staffed by creatives. Pierre Boulez, a composer, created the French AI music and sound company Ircam Lab. Many of its contributors and AI engineers are musicians. They have a creative foundation yet also want to solve problems with math.<h2>Working in AI means learning on the job, no matter your background</h2>For anyone joining the company, it's a steep learning curve. Most personal and professional development happens through on-the-job training. We encourage the use of AI at work because we're developing an AI application. Our team needs to know the codes and standards in this space.We tell our team they can subscribe to AI services to augment their work, but we don't enforce it. Adoption should be organic, driven by a personal desire to experiment. This new breed of application is so young that to get the most out of it, we all need to be learning constantly — no matter how long we have been at the company or in the field.While AI engineers are absolutely key, it's only through alliances between talent from liberal arts backgrounds, who can think creatively about building applications around this tech stack, that the technology will reach its full potential.

I'm an AI startup founder and love hiring liberal arts grads. They give us a surprising edge.

<ul class="summary-list"><li>The population of Northwest Arkansas has grown 5.4% from April 2020 to July 2022.</li><li>People are moving to the area seeking a "better way of life," one real-estate agent said.</li></ul>In 2016, Nicholas Falldine wanted to see snow on Christmas Day.As a native Texan, it wasn't that easy to come by. A friend suggested that Falldine and his wife drive up to Northwest Arkansas from Dallas.They stayed in Bentonville, Arkansas, for three days and stopped in Fayetteville — about 330 miles from Dallas — for coffee on the way back. Falldine was charmed by the town, home to the University of Arkansas, and its hilly landscape.<div type="image" title="A glowing neon sign that reads &quot;You belong here&quot;" height="1669" width="2500" msid="102722379" hostid="261" sizebytes="147664"></div>Fast forward to 2022: Falldine and his wife wanted a change from Austin, where they lived for only one year. When looking for a new city to call home, they were both reminded of that little Arkansas city where they stopped for coffee."We pretty much immediately thought of Fayetteville," Falldine, 35, told Insider. "We thought, 'Remember that town we grabbed a cup of coffee in and thought was really cool?'"Northwest Arkansas — with a metro area consisting of Benton, Madison, and Washington counties — has become the <a target="_blank" rel="noopener noreferrer nofollow" href="https://nwacouncil.org/2023/05/23/northwest-arkansas-now-nations-100th-largest-metro-census-estimates/">country's 100th-largest metro area</a> with the latest crop of movers. From April 2020 to July 2022, its population increased 5.4% to 576,403, according to the latest <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.census.gov/quickfacts/fact/table/washingtoncountyarkansas,madisoncountyarkansas,bentoncountyarkansas,US/PST045222">US Census Bureau data</a>.That's about half the population of Austin, and about a seventh of the population of Silicon Valley, and yet the grouping of counties is beginning to catch on among STEM workers who are looking for a different quality of life, like Falldine.<h2>Northwest Arkansas' plan to bring in new talent</h2>Companies like Walmart, Tyson Foods, and JB Hunt are headquartered in Northwest Arkansas and have been attracting movers for years. But the latest crop of movers are setting their roots for other reasons."Before they were all coming in because they were corporate," John Mayer, a real-estate agent with Better Homes and Gardens Real Estate Journey in Bentonville, told Insider. "But now Northwest Arkansas has become a destination for a better way of life. We're seeing people relocate because of the cost, the median price of housing, the low property taxes, and then all the great amenities we have for the outdoors."In order to attract some of those movers, the Northwest Arkansas Council, a nonprofit economic development agency, rolled out <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.businessinsider.com/us-cities-pay-people-move-incentives-2018-7">an incentive to attract new residents</a> in November 2020. The nonprofit offered $10,000 — and a mountain bike — to remote tech workers who moved to the region. One hundred people used the program, which ended in June 2022.<div type="image" title="An office space in Northwest Arkansas." height="1669" width="2500" msid="102722381" hostid="261" sizebytes="171274"></div>Nelson Peacock, the president and CEO of the Northwest Arkansas Council, told Insider that their plan was to attract "STEAM" workers — an acronym for those in the science, technology, engineering, arts, and mathematics fields."We had a shortage of tech talent that we needed to address," Peacock said. "We knew that was the future, and we just knew that a lot of people across the country didn't have a good awareness about what it was like to work and to live here."<h2>A millennial founder wanted more IRL networking opportunities</h2>Chris Thompson moved to Los Angeles from the Philadelphia area at 24 and started working in the fintech startup industry.He thought that Los Angeles' fast-paced reputation would lead to more networking, but instead he took most of his meetings in front of a computer.<div type="image" title="A photo of a man posing in a park." height="630" width="1200" msid="102722382" hostid="261" sizebytes="178022"></div>"In Los Angeles, all my meetings were over Zoom, even if they lived in Los Angeles, because no one wants to get on the 405," Thompson told Insider. "All of the relationships that I had in Los Angeles, most of them were not in-person relationships."While working for a fintech startup, he noticed that around half of his team worked in Northwest Arkansas. He left the company and founded his own app in 2019, but stayed in contact with his former coworkers. With a built-in network of colleagues already in place, he joined them in Arkansas in June 2022.Just before moving to Arkansas, Thompson founded Sober Sidekick, a healthcare app that helps users struggling with recovery, and prefers the relationships that he's forged in person."I can build relationships here a lot faster than I could in Los Angeles," he said.<div type="image" title="A photo of Walton's in Bentonville, Arkansas." height="1753" width="2500" msid="102722384" hostid="261" sizebytes="311494"></div>Thompson, now 29, took advantage of the $10,000 incentive program, which he said helped jumpstart his venture into homeownership.He purchased a 2,000-square-foot, three-bedroom house in Bentonville, Arkansas, about two hours east of Tulsa, Oklahoma. His mortgage is $2,200 a month — $300 cheaper than his previous rent for an 800-square-foot, one-bedroom apartment in Marina Del Rey, he said."The sooner you can get into owning, the better off you're going to be in the long run," he said. "That was a huge selling point for me. It's rent in Los Angeles for another five years, or start the process of building equity now."The <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.realtor.com/realestateandhomes-search/Bentonville_AR/overview">median listing price in Bentonville</a> is $550,000, compared to <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.realtor.com/realestateandhomes-search/Los-Angeles_CA/overview">Los Angeles' $1.2 million</a>, according to realtor.com.<h2>A Texan looking for breathing room found some in Fayetteville</h2>Falldine only lived in Austin for about a year, but wasn't feeling the "vibe."The long car rides and general sense of overcrowding — both people and business establishments — led him and his family to Fayetteville."We wanted to be close to family, and were looking for a lot of the same characteristics Austin has: aesthetically pleasing, quirky, creative, and unique," Falldine said.Another perk for Falldine: spontaneity in Fayetteville is more achievable. If it's a hot day, you can get in the car and go swimming near a waterfall with no hassle. In Austin, he said that the same experience would need to be booked weeks in advance because there were so many people.Austin's population of 974,447 far outnumbers Fayetteville's 99,285, according to 2022 estimates from the US Census Bureau, and that makes a big difference for Falldine.<div type="image" title="A colorful mural on the side of a building." height="1669" width="2500" msid="102722385" hostid="261" sizebytes="181694"></div>Falldine likes the idea that Fayetteville is on its way up. When researching where to move, he was impressed by <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.fayetteville-ar.gov/1216/City-Plan-2040">Fayetteville's 2040 plan</a>, which plots out the city's goals like limiting sprawl and encouraging public transportation usage, and wanted to be a part of a growing community instead of being a number like he said he would be in Austin or Dallas."I'd much rather be a part of something earlier on and be a part of that startup mentality," he said. "To be a part of decision-making and actually getting to know people that are maybe making those decisions and having an impact on how things could potentially go is super appealing."Do you work in tech and recently move to Northwest Arkansas? Tell us some of your reasons for moving. Email reporter Jordan Pandy at <a target="_blank" rel="noopener noreferrer nofollow" href="mailto:jpandy@insider.com">jpandy@insider.com</a> to share your story.

Two young tech workers share why they relocated to Arkansas from Texas and California

<ul class="summary-list"><li><a href="https://www.linkedin.com/in/alexandre-daillance-079078149/?originalSubdomain=fr">Alexandre Daillance</a>, <a href="https://www.linkedin.com/in/harry-b-a1075995/">Harry Beard</a>, <a href="https://www.linkedin.com/in/adam-f-927842bb/">Adam Flanagan</a> are the cofounders of <keyword id="11974765" type="UNKNOWN" weightage="60" keywordseo="gen-z" source="Orion">Gen Z</keyword> competition <a href="https://www.prospect100.com/">Prospect 100</a>. </li><li>The contest seeks to connect young creatives with cash prizes and career opportunities.</li><li>This is part of Insider's entrepreneur series Star, Rising which highlights early entrepreneurs and businesses. </li></ul>Name: Alexandre Daillance, Harry Beard, Adam FlanaganAge: 24, 21, 20 Location: Paris, France; Bedford, England; Edinburgh, Scotland Business: A Gen-Z target competition that helps creatives find jobs and funding.Backstory: The creative sector was hit hard during the pandemic, as art shows closed and fashion runways went dark. As a result, Gen Zers saw their prospects for economic and <a href="https://www.businessinsider.com/gen-z-graduates-hardest-time-job-hunting-recession-2021-7">professional mobility</a> hindered. <div type="image" title="Margherita Missoni as judge for the Kering Prospect 100 competition" height="1500" width="1500" msid="85735379" hostid="261"></div>This gave Alexandre Daillance, Harry Beard, Adam Flanagan two ideas. The first was a free virtual competition called <a href="https://www.prospect100.com/">Prospect 100,</a> which connects young creatives working in film, design, innovation, and music with career opportunities and cash prizes from powerhouses such as ViacomCBS, Vogue, and most recently, the <keyword id="11921510" type="UNKNOWN" weightage="60" keywordseo="luxury" source="Orion">luxury</keyword> conglomerate <a href="https://www.businessinsider.com/look-at-11-of-the-most-iconic-kering-owned-brands-2020-2">Kering</a>.The second idea was for FutureLabs, a consulting firm seeking to help established brands connect with next-generation audiences. The firm serves as the parent company to Prospect 100, which allows the competition to be free for participants.Growth: Prospect 100 has held six competitions since last May, seeing over 15,000 participants from 82 countries, Daillance said. Additionally, it has at least four more contests planned throughout the next two years, expecting to attract nearly 30,000 participants.Past judges included Apple cofounder Steve Wozniak and Yeezy design director Steven Smith. It's partnered with Nickelodeon to offer winners masterclasses with Teenage Mutant Ninja Turtles co-creator Kevin Eastman, and next is working with <keyword id="11974766" type="UNKNOWN" weightage="60" keywordseo="kering" source="Orion">Kering</keyword> on a competition promoting sustainable fashion. Retail heiress and creative director <a href="https://www.instagram.com/mmmargherita/?hl=en">Margherita Missoni</a> and Vogue fashion editor <a href="https://www.instagram.com/rawdis/?hl=en">Rawdah Mohamed</a> are set to judge. Meanwhile, FutureLabs works with 12 clients and netted more than six figures from last September to today, according to documents verified by Insider. <div type="image" title="Alexandre Daillance sitting with his computer" height="4032" width="3024" msid="85735382" hostid="261"></div>Before Prospect 100: Daillance created fashion label <a href="https://www.instagram.com/millinsky/?hl=en">Millinsky Edition</a> and streetwear brand <a href="https://www.instagram.com/nasaseasons/?hl=en">NASEASONS</a>, which is sold in over 70 retailers throughout the world.Beard previously ran a social <keyword id="11894119" type="UNKNOWN" weightage="60" keywordseo="media" source="Orion">media</keyword> management company called OPEN while Flanagan worked as an investment analyst at financial firm <a href="https://www.thecreatorfund.com/">Creators Fund. </a>Challenges: Initially they wanted the competition to be in-person, but the pandemic forced it online, making the trio rethinking their business <keyword id="11893563" type="UNKNOWN" weightage="100" keywordseo="strategy" source="Orion">strategy</keyword>. They also had to find ways to make it inclusive because not everyone has access to the same technology. "It was so important an artist from Bhutan feels they have as much a chance of winning this competition as a graffiti artist from LA," Beard said. Business Advice: Daillance said shoot for the stars to hit the moon, while Flanagan said never be afraid to pivot the business if needed. Beard added, "you truly need to have fun to be able to go all the way."Business mentor: They count <a href="https://www.linkedin.com/in/carmen-greco/?originalSubdomain=uk">Carmen Greco</a>, former managing director at Goldman Sachs and current founder of the Gen Z -targeted production company <a href="http://www.thred.com">Thred Media</a>, as a mentor. They also go to Miles Young, head of New College, Oxford, and former CEO of Ogilvy &amp; Mather.<div type="image" title="Posters for the competition Prospect 100" height="2688" width="4032" msid="85735384" hostid="261"></div>Why is now the best time to start a business: It's especially a good time to connect with others throughout the world and find cofounders in which to help build and expand, said Daillance. On hiring: Prospect 100 is a team of five and receives about 30 resumes a month, Daillance said. The company seeks to gain more traction in the US, where many companies are <a href="https://www.businessinsider.com/extra-benefits-small-business-owners-are-offering-to-hire-employees-2021-5">still struggling to hire talent</a> amid labor shortages. Managing burnout: Each clock in outdoor time. Beard is learning how to skateboard, while Daillance likes watching Formula 1 races. Flanagan, meanwhile, likes to play squash.

3 Gen Zers created a competition to connect young creatives with cash and careers amid the pandemic. Now, luxury giant Kering is getting involved.

Hello, readers!Happy Saturday, and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. Here's a rundown of our must-know Wall Street stories from the past week:<ul><li>The fight for junior investment bankers is so fierce that one recruiting firm has <a href="https://www.businessinsider.com/investment-banking-recruiters-hiring-goldman-jpmorgan-attrition-analyst-associate-vp-2021-4">set up a "SWAT team"</a> for hiring </li><li>Check out our list of the <a href="https://www.businessinsider.com/rising-stars-top-young-equity-research-analysts-wall-street-2021">rising stars</a> of equity research </li><li>Current and former Goldman Sachs partners <a href="https://www.businessinsider.com/goldman-sachs-ceo-david-solomon-profile-why-partners-leaving-4-21">weigh in on</a> CEO David Solomon </li><li>Hedge fund giants are raiding banks to poach volatility traders - <a href="https://www.businessinsider.com/hedge-funds-citadel-millennium-raiding-big-banks-hiring-volatility-traders-2021-4">we tracked all the moves </a></li><li>Return-to-office updates for <a href="https://www.businessinsider.com/jpmorgan-return-to-office-plans-may-july-rotation-memo-reopening-2021-4">JPMorgan</a> and <a href="https://www.businessinsider.com/bank-of-america-asking-employees-voluntarily-disclose-covid-vaccination-status-2021-4">Bank of America</a></li><li>These are the <a href="https://www.businessinsider.com/fintech-headhunters-recruiters-hiring-staffing-tech-talent-startups-2021-4">fintech headhunters</a> to know </li></ul>If this email was forwarded to you, you can <a href="https://newsletter.businessinsider.com/click/22653302.34602/aHR0cDovL25ld3NsZXR0ZXIuYnVzaW5lc3NpbnNpZGVyLmNvbS9qb2luLzRucC9pbnNpZGVyLWZpbmFuY2U_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD1JbnNpZGVyJTIwRmluYW5jZQ/5cf970723f92a452082ea752B3f5606f6">sign up here</a> to get your daily dose of the stories dominating banking, business, and big deals.<h3><a href="https://www.businessinsider.com/rising-stars-top-young-equity-research-analysts-wall-street-2021">Meet the rising stars of equity research, up-and-comers making calls on everything from the next big electric-car maker to the return of live events</a></h3>Meet Insider's lineup of up-and-coming talent in the world of equity research. We selected analysts 35 and under who cover a wide range of sectors, from gaming to natural gas. <a href="https://www.businessinsider.com/rising-stars-top-young-equity-research-analysts-wall-street-2021">See the full list here.</a> <h3><a href="https://www.businessinsider.com/goldman-sachs-ceo-david-solomon-profile-why-partners-leaving-4-21">Goldman Sachs CEO David Solomon is shaking up the bank with his hard-driving style. Here's what's pushing a herd of top execs to the exits.</a></h3><div type="image" title="Two images of Goldman Sachs CEO David Solomon in a picture frame on a red background." height="1200" width="2400" msid="82344382" hostid="261"></div>Solomon has steered the bank to blowout profits and a record stock price. But with partners quitting and burnout soaring, some insiders said the executive's hard-charging style has come at a cost. <a href="https://www.businessinsider.com/goldman-sachs-ceo-david-solomon-profile-why-partners-leaving-4-21">Read the inside story here</a>.<h3><a href="https://www.businessinsider.com/jpmorgan-return-to-office-plans-may-july-rotation-memo-reopening-2021-4">JPMorgan told US workers it wants them coming into the office on a 'consistent rotational schedule' by early July</a></h3><div type="image" title="GettyImages 1171045638" height="1750" width="3500" msid="82344383" hostid="261"></div>Time is running out for remote work for some on Wall Street as the biggest US bank has unveiled its <a href="https://www.businessinsider.com/jpmorgan-return-to-office-plans-may-july-rotation-memo-reopening-2021-4">most detailed timeline yet</a> about returning to the office.<ul><li>Read more: <a href="https://www.businessinsider.com/bank-of-america-asking-employees-voluntarily-disclose-covid-vaccination-status-2021-4">Bank of America is asking employees to voluntarily disclose vaccine status</a></li></ul><h3><a href="https://www.businessinsider.com/hedge-funds-citadel-millennium-raiding-big-banks-hiring-volatility-traders-2021-4">Hedge-fund giants like Citadel and Millennium are raiding investment banks for volatility traders</a></h3><div type="image" title="hedge funds versus bankers 2x1" height="1200" width="2400" msid="82344387" hostid="261"></div>Buy-side trading firms have poached a slew of star derivatives traders. The defections, which follow blowout volatility trading hauls in 2020, leave some banks shorthanded.<a href="https://www.businessinsider.com/hedge-funds-citadel-millennium-raiding-big-banks-hiring-volatility-traders-2021-4">Get the full rundown of all the moves here.</a> <h3><a href="https://www.businessinsider.com/investment-banking-recruiters-hiring-goldman-jpmorgan-attrition-analyst-associate-vp-2021-4">Banks are racing to staff up as deal work surges, and one recruiting firm has even formed a 'SWAT team' focused on hiring associates and VPs</a></h3><div type="image" title="headhunters and recruiters sourcing talent for wall street 2x1" height="1200" width="2400" msid="82344389" hostid="261"></div>Investment banks are seeking backup as they struggle to retain junior staffers while deal work surges. High rates of attrition and fierce competition are sparking a talent war for young bankers. As one recruiter put it, there's "just not enough bodies in the market." <a href="https://www.businessinsider.com/investment-banking-recruiters-hiring-goldman-jpmorgan-attrition-analyst-associate-vp-2021-4">Get all the hiring market intel here.</a><h3><a href="https://www.businessinsider.com/fintech-headhunters-recruiters-hiring-staffing-tech-talent-startups-2021-4">These 10 headhunters are helping fintechs like Coinbase, Stripe, and SoFi land big hires and stand out in the startup tech talent war</a></h3><div type="image" title="top fintech recruiters2x1" height="600" width="1200" msid="82344390" hostid="261"></div>Fintechs are increasingly relying on outside recruiting firms to attract top talent. Insider asked startups, venture capitalists, and industry insiders to nominate the top fintech headhunters in the US.The list includes recruiters who work on everything from early-stage startups to mature financial firms with a focus on tech. <a href="https://www.businessinsider.com/fintech-headhunters-recruiters-hiring-staffing-tech-talent-startups-2021-4">Keep reading here. </a><h2><a href="https://www.businessinsider.com/wall-street-hires-and-exits-blackstone-amex-bofa-citadel-sec-2021-4">Wall Street people moves roundup</a></h2><ul><li>Bank of America's <a href="https://www.businessinsider.com/bofa-head-of-rates-sales-andrew-isaacs-departs-bank-america-2021-4">head of rates sales</a> in the US is leaving the firm</li><li>Citadel hired a <a href="https://www.businessinsider.com/citadel-hires-dan-baranovsky-from-citi-equity-volatility-trading-pm-2021-4">new portfolio manager</a> who's an equity volatility expert</li><li><a href="https://www.businessinsider.com/wall-street-hires-and-exits-blackstone-amex-bofa-citadel-sec-2021-4">Rea</a><a href="https://www.businessinsider.com/wall-street-hires-and-exits-blackstone-amex-bofa-citadel-sec-2021-4">d</a><a href="https://www.businessinsider.com/wall-street-hires-and-exits-blackstone-amex-bofa-citadel-sec-2021-4"> our full</a><a href="https://www.businessinsider.com/wall-street-hires-and-exits-blackstone-amex-bofa-citadel-sec-2021-4"> </a><a href="https://www.businessinsider.com/wall-street-hires-and-exits-blackstone-amex-bofa-citadel-sec-2021-4">rundown</a><a href="https://www.businessinsider.com/wall-street-hires-and-exits-blackstone-amex-bofa-citadel-sec-2021-4"> of this week's hires, promotions, and exits here</a></li></ul><h2>Other stories readers loved this week </h2><ul><li>London's <a href="https://www.businessinsider.com/wall-street-wants-people-back-in-the-office-for-now-london-doesnt-2021-4">finance sector</a> isn't rushing back to the office</li><li>Apollo's dealmaking <a href="https://www.businessinsider.com/apollo-global-management-ceo-leon-black-marc-rowan-apo-2021-4">went into overdrive</a> in the first quarter</li><li>Goldman Sachs President John Waldron laid out <a href="https://www.businessinsider.com/goldman-sachs-president-john-waldron-burnout-hiring-junior-talent-automation-2021-4">three ways</a> the bank is aiming to relieve junior workloads</li><li>Blackstone's Jon Gray is preparing for higher inflation. One way he's considering tackling it is by <a href="https://www.businessinsider.com/blackstone-jon-gray-real-estate-inflation-rent-growth-earnings-q1-2021-4">raising rents</a> on the thousands of apartments.</li><li>Morrison &amp; Foerster is starting to track its lawyers' <a href="https://www.businessinsider.com/mofo-time-logging-software-raises-surveillance-fears-new-normal-2021-4">calls, emails, and website visits</a> to squeeze out billable hours</li><li>Advisors to the wealthy are fielding a <a href="https://www.businessinsider.com/wealth-advisors-biden-administration-taxes-estate-planning-capital-gains-2021-4">frenzy of calls</a> from clients worried about estate planning and taxes</li></ul>

Investment banks are on a hiring spree and there isn't enough young talent to go around

Human CapitalHuman Capital cofounders Baris Akis and Armaan Ali<ul class="summary-list"><li>Silicon Valley-based entrepreneurs Armaan Ali and Baris Akis built Human Capital, a talent agency for engineers, after they realized that their peers weren't fully taking advantage of all the job opportunities available in Silicon Valley.</li><li>Human Capital says it landed engineers early roles at 12 startups that have gone on to be worth over a billion dollars.</li><li>The 25-year olds say that they uncanny success in placing engineers onto the early teams of hot startups like Brex and Robinhood, thanks to the relationships that they've developed with prominent VCs. </li><li>The agency also has a $75 million fund dedicated to investing in any engineers looking to kickstart their own startup. </li><li>"We see ourselves as a partner for an engineer's entire career," Ali explained, saying that the pair had looked to Hollywood's talent agencies as inspiration. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>For many engineers looking to kickstart their careers, the dream is to work at a startup that is only just beginning to change the world - and then, ideally, cash out in an IPO or in a big sale to a tech giant.But startup life is risky, and the founders and early employees are more likely to end up with nothing - particular amid the current state of market tumult - than with a big payday. That makes it very important for would-be startup workers, fresh out of school, to stake their bets on the right company. That's how Armaan Ali and Baris Akis first came up with the idea for their company, Human Capital. As their peers at Stanford prepared to graduate, the pair found themselves wondering why so many were taking up jobs at Facebook or Google when the opportunity to create a greater impact at a younger company existed. "They had this conception of startups being too risky," Akis explained. "But there was a full spectrum of options that they had not explored. So I asked them if they would be interested in exploring those options, and having a partner who can assist them." The founders see Human Capital as akin to a Hollywood talent agency: they want to match promising tech talent to the right company in the same manner as a Hollywood talent agent matches movie stars to the latest Marvel superhero movie.So far, the 25-year olds boast of their success in placing engineers onto the early teams of high-growth startups like Anduril, Brex, and Robinhood - thanks to the relationships that they've developed with prominent tech investors and their portfolio companies.Ali told Business Insider that 12 of the startups that they connected engineers with had gone on to be worth over a billion dollars. "We've placed engineers that had been within the first 50 employees, at 12 companies that have gone to be worth over a billion dollars. Imagine how life changing that is when like you didn't even know you should consider a startup." Ali said. <h2>Growing the network</h2>About 5,000 engineers are part of the agency's network at the moment, according to the cofounders. Human Capital has a campus presence in around 20 universities and also has an open application on its website for interested engineers looking to join. Ali and Akis said they developed relationships with Silicon Valley venture capitalists like Hemant Taneja at General Catalyst and Brian Singerman at Founders Fund, to find out which startups that they were most excited about. They then pitched those portfolio companies the opportunity to connect with young, smart college graduates, ready to get to work. "The way that companies find people and people find companies is still pretty archaic," Ali said, adding that LinkedIn and resumes simply didn't say enough. "We actually have people go and speak to engineers and find out what they're passionate about, to make those matches. You can't discover those without actually probing and asking questions." <h2>Landing jobs at hot startups</h2>Orion Despo, who went to college with Ali and Akis, said he worked with Human Capital to land a job at <a href="https://www.businessinsider.com/brex-unicorn-billion-2018-10">Brex</a>, just one month before the buzzy fintech came out of stealth mode and revealed itself to the world. Despo was one of the first 20 employees at the startup, which is now valued at over $1 billion. "I didn't want a normal job," Despo said, explaining the criteria he'd given Human Capital when he was out job-hunting. "I was looking for the most unique opportunity that I could find." Doug Qian, who interned at Google the summer before graduating, said he attended Human Capital events and met with various startup founders during that time because he already had a sense that he wanted to shift gears and join a high-energy startup. Qian ended up with a job at the cloud services startup <a href="https://www.businessinsider.com/clumio-series-c-index-ventures-sutter-hill-partners-2019-11">Clumio</a> through the agency. "I knew deep down that the startup scene would be right for me," Qian explained. "Human Capital gave me advice on what I was looking for - the kind of size, leadership, and engineering culture." <h2>Going Hollywood</h2>But Human Capital aims to go beyond job placement, and help support engineers through their entire career - wherever it takes them."The reason that the talent agency is actually an interesting analogy, is because we see ourselves as a partner for an engineer's entire career," Ali explained. The agency wants the engineers to reach out when they're ready to embark on their next career move - be it landing another startup gig or kickstarting their own startup. Human Capital has recruited advisors outside the realm of the tech to help guide that process. Michael Ovitz, the cofounder of the famed talent agency CAA, is both an advisor and investor in the agency. "We don't like to think super transactionally in this business," Ali explained, describing the agency's focus on relationship-building. "We like to think long return." And Human Capital has the means to to be able to do so. The agency, which was the first to invest in Brex alongside startup accelerator Y Combinator in 2017, raised $75 million at the end of last year, <a href="https://www.wsj.com/articles/human-capital-nears-close-of-75-million-fund-11575505586?shareToken=st0254be19038f4e56bc787890a10484d0">according to the Wall Street Journal</a>. In total, Ali says the agency has raised $200 million to invest in the engineers in their network. <h3>NOW WATCH: <a href="https://www.businessinsider.com/bidets-better-than-using-just-toilet-paper-2019-9">Why bidets are better than buying countless rolls of toilet paper</a></h3>

Meet the Silicon Valley 'talent agency' helping young tech workers land jobs at billion-dollar startups like Brex before they get huge

<ul><li>Global startups and young companies in the US, Germany, and Southeast Asia — including Dubai, Indonesia, Singapore — are reportedly ramping up the hiring of Indian techies, wooing them with professional exposure and salary hikes. </li><li>Global startups including GrabTaxi, Go-Jek, Delivery Hero are hiring Indian engineers. </li><li>Skills that global startups are looking for include data science, Stack development and project management.</li></ul>As<a href="https://www.businessinsider.in/hiring-tcs-infosys-wipro-and-others-up-12-months-in-a-row/articleshow/69019342.cms"> IT hiring picks up</a> in India, even global startups appear to be eyeing Indian talent for mid-level and senior-level hires. While tightened visa norms have largely affected Indian workforce overseas, global startups and young companies in the US, Germany, and Southeast Asia — including Dubai, Indonesia, Singapore — are ramping up the <a href="https://timesofindia.indiatimes.com/trend-tracking/global-startups-rope-in-indian-engineers/articleshow/69104600.cms">hirings Indian techies </a>wooing them with professional exposure and salary hikes. Global startups including GrabTaxi, Go-Jek, Delivery Hero are hiring Indian engineers skilled in data science, Stack development and project management, Times of India <a href="https://indianexpress.com/article/india/yeti-footprints-indian-army-tweets-these-pictures-as-evidence-5701837/?pfrom=HP">reported.</a> Calling Indian engineers as a premium talent, Adithya Venkatesan, marketing specialist in Go-Jek tech reportedly told TOI “The engineers that we have hired have sound knowledge in programming languages like Clojure, Ruby and Golang and the process takes three weeks at minimum.” These young companies in the US have been open to hiring freshers as well, despite stricter <a href="https://www.businessinsider.in/us-immigration-denial-of-h1-b-visas-raises-legal-questions/articleshow/68844794.cms">visa rules</a>. While some startups are looking to establish their offices in India to expand globally, several companies are hiring Indians for offshore locations. However, for the experienced positions, the average salary hikes offered by the companies is reportedly 15%-20%. According an Indian firm tracking hiring cycles, Skillenza, “These are the startups that are looking to ramp up their team after sealing a series-B or -C round so they have enough bandwidth to look outside their market for talent. They are on the lookout for people with 3-10 years of experience,” Times of India <a href="https://timesofindia.indiatimes.com/trend-tracking/global-startups-rope-in-indian-engineers/articleshow/69104600.cms">reported</a> citing its co-founder Subhendu Panigrahi. Domestic demand India is the world's third largest startup ecosystem after the US and the UK. Given the growth in hiring by startups, Indian startups have been offering strikingly impressive salaries for the top-level roles. Over 8,000 tech startups in India are looking to hire IT talent and it will last for the next 18 months, according to <a href="https://www.moneycontrol.com/news/business/it-hiring-picks-up-domestic-demand-and-startups-key-drivers-3877501.html">TeamLease</a>. Indian unicorns — Oyo, Zomato, Swiggy — have been the key employers across sectors for top roles. According to a recent <a href="https://www.timesnownews.com/business-economy/industry/article/oyo-zomato-swiggy-on-hiring-spree-offer-average-salary-of-over-rs-60-lakh-for-top-level-recruits/409196">report</a>, the unicorns -- who have also set eyes globally — have hired nearly 214 people with an average salary of ₹6 million, annually. In fact, food delivery platform Swiggy is presently looking for experienced tech candidates for data science, machine learning and artificial intelligence in order to build their business and expand in the delivery space. See also: <a href="https://www.businessinsider.in/here-are-the-25-most-popular-workplaces-in-india-according-to-linkedin/articleshow/68704338.cms">Here are the 25 most popular workplaces in India, according to LinkedIn</a> <a href="https://www.businessinsider.in/swiggy-delivery-does-1-5-million-orders-on-cycles-pilots-use-of-electric-vehicles/articleshow/69094004.cms">Swiggy rides the green wave, delivers 1.5 million orders on cycles; electric vehicles are next</a>

These global startups are reportedly on a hiring spree for Indian talent

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li style="font-weight: 400;">Zestful, a startup that lets other small startups offer employee benefits and perks, announced Tuesday it raised $5 million in seed funding led by Thrive Capital.</li><li style="font-weight: 400;">Zestful founder and CEO Mat Vogels told Business Insider that he saw first-hand that startups in San Francisco's Bay Area struggled to <a href="https://www.businessinsider.com/y-combinator-michael-seibel-startups-distance-themselves-google-facebook-2019-8">compete with tech behemoths like Google and Facebook</a> known for top tier employee benefits and perks in the r<a href="https://www.businessinsider.com/tech-cash-protect-software-valuations-more-acquisitions-2018-12">ed hot employment market.</a></li><li style="font-weight: 400;">While <a href="https://www.businessinsider.com/silicon-valley-venture-capital-founders-market-notion-funding-2019-8">not out of place these days in Silicon Valley</a>, the round is one of the largest early funding rounds for a Colorado startup, where Zestful is based. </li><li style="font-weight: 400;">Vogels said that investors knew the sizable round would last the startup longer than if they relocated to San Francisco, and helped get their buy-in for the round.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories</a>.</li></ul>Startups are starting to feel the hiring crunch brought on by an <a href="https://markets.businessinsider.com/news/stocks/6-economic-indicators-that-give-insight-us-economy-release-dates-2019-9-1028506230">all-time low unemployment rate</a> and a <a href="https://www.businessinsider.com/tech-cash-protect-software-valuations-more-acquisitions-2018-12">healthy ecosystem with plenty of cash</a> floating around. It's not enough to compete for talent on salary and stock options anymore - early startups are expected to offer the full suite of benefits that gained popularity with the <a href="https://www.businessinsider.com/y-combinator-michael-seibel-startups-distance-themselves-google-facebook-2019-8">rise of tech behemoths like Google and Facebook</a>. But early startups relying on limited funds can't shell out for a fleet of private commuter buses or daily catered meals. Enter Zestful.Zestful lets small companies like startups pay a monthly fee to offer employees a range of perks and benefits like monthly subscriptions to Netflix or email service Superhuman. On Tuesday, the 3-year-old startup announced it raised $5 million in seed funding led by Thrive Capital with participation from Box Group, Y Combinator, Matchstick Ventures, Third Kind Capital, and Shrug Capital."A Series A says you figured it out and you're doubling down on the growth phase, and to me, that means we are doubling down on trying to be everywhere," Zestful founder and CEO Mat Vogels told Business Insider. "But sticking with seed funding means we want to focus on the product and build it before we go with a Series A."Read More: <a href="https://www.businessinsider.com/brex-first-employee-says-startup-better-than-any-mba-program-2019-9">A Harvard grad was the first employee at buzzy credit card startup Brex and says the experience was better than any MBA program she could have taken.</a><h2>New workforce, new rules</h2>Vogels said he had seen the competition first-hand when he was working in San Francisco's Bay Area, as startups struggled to attract and retain talent. He explained that those first hires are the most important to the company's success, but it's easier than ever for talented employees to take higher paying or more flexible roles at other companies if the startup can't keep up."We may not have all the bells and whistles and features but what we've built is for the employees, and we have the numbers to back it up," Vogel said. "That's what the head of HR or People Ops care about most. They want people to be happy with it." As the workforce gets younger, Vogel says that employees will demand personalized benefits like those in Zestful more and more. Gen Z'ers and young Millennials see work as an extension of their personal lives instead of being a completely separate endeavor, <a href="https://www.businessinsider.com/generation-z">studies have shown</a>, and they want an employer that recognizes that, Vogels said."Millennials don't need a high salary, but the company needs to invest in things they care about," Vogel said. "Employees are not one size fits all, so the benefits shouldn't be either. They just want to feel good and appreciated by the company."<h2>$5 million can pack more of a punch outside of Silicon Valley</h2>After being initially rejected by <a href="https://www.businessinsider.com/popsql-rahil-sondhi-seed-funding-y-combinator-demo-day-2019-8">Y Combinator's accelerator program</a>, Vogel took Zestful out of the overly competitive San Francisco ecosystem to Denver, Colorado, where he's built the company over the last three years. Zestful's funding, <a href="https://www.businessinsider.com/silicon-valley-venture-capital-founders-market-notion-funding-2019-8">which is large for a seed stage even by Silicon Valley standards</a>, is one of the largest in Colorado history."Investors are trying to get out of the coasts and outside of expensive cities," Vogel said. "The $5 million will last us five or ten times longer than if we were in San Francisco, or New York, or Chicago, and they appreciate that idea because they get more bang for their buck."

Zestful is helping startups compete with Google and Facebook in the talent hiring wars

Indian startup founders on Monday said that to explore a comprehensive digital India, the <keyword id="6360189" type="General" weightage="100" keywordseo="union-budget" source="Orion">Union Budget</keyword> for FY24 must leverage the full inherent potential of the homegrown technology industry to become champions of digitisation. Gautam <keyword id="893041" type="General" weightage="80" keywordseo="nimmagadda" source="Orion">Nimmagadda</keyword>, Founder and CEO of Quixy, a cloud-based no-code application development platform, said that currently, startups can avail of a tax holiday for three years since incorporation. "However, the ideal exemption should be 10 years, in view of the high cost of solution development. As positive employment drivers, startups also require government intervention in the expensive affair of hiring and retaining the right talent to drive growth," Nimmagadda said in a statement. "To lead the startups onwards and upwards, a single-window process to enable the right financial support from government would be incentivising for MSMEs," he added. According to ESOPDhan co-founder <keyword id="576027" type="General" weightage="80" keywordseo="nitin-agarwal" source="Orion">Nitin Agarwal</keyword>, the budget can reduce the holding period of ESOP shares of unlisted companies from two years to one year for purposes of capital gain. "This would make ESOPs a more attractive tool to retain and reward employees, especially among startups that are today seen as major job creators," Agarwal added. 2023 is already shaping up to be a watershed moment for the gaming industry. With the government releasing draft online gaming rules earlier this month, the burgeoning sector will see a lot more success this year. According to Sai Srinivas, Co-founder and CEO of MPL, the industry hopes to get clarity in a few areas. "The first is the GST mechanism on online gaming. We hope the government provides clarity on the tax slab applicable on skill gaming. Another relates to the AVGC fund set up as part of the AVGC Promotion Task Force announced in last year's budget," he mentioned. Access to financial support "will be a tremendous boost to young talented developers and designers, and will accelerate the push to 'Create in India' and take made-in-India games to the world," he added. <keyword id="16292225" type="General" weightage="80" keywordseo="dhruv-jolly" source="Orion">Dhruv Jolly</keyword>, Founder and MD, <keyword id="16292224" type="General" weightage="80" keywordseo="taponn" source="Orion">TapOnn</keyword> digital, said that the budget would include some assistance for qualifying firms under the 'Startup India Scheme' in terms of the number of taxes that must be filed, the frequency of filing, or the tax slabs. "We might witness a strong emphasis on attracting more foreign investment, making the registration and compliance process more easy and fast, and strengthening economic ties with other countries in the Indo-Pacific region," Jolly said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-witness-high-volatility-amidst-war-of-words-between-the-company-and-hindenburg-research/articleshow/97437171.cms">Adani Group stocks witness high volatility amidst war of words between the company and Hindenburg Research</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/auto-parts-sourcing-startup-capgrid-raises-7-million-from-nexus-venture-others/articleshow/97437294.cms">Auto parts sourcing startup CapGrid raises $7 million from Nexus Venture, others</a>

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