After a weeklong hiatus, thanks to a little trek to Unleash in Paris, the boys are back and badder than ever.
On this episode, they dissect the recent acquisition of Paycor and Talenya, the investment in Ten Thousand Coffees - which has nothing to do with actual coffee, by the way - and then play a little thumbs-up / thumbs-down with The Muse acquiring Fairygodboss, CareerBeacon buying Ruutly (a Canadian double-double, Tim Hortons-style), Glassdoor filters and TaTiO grabbin' that paper. Amazon is in a pickle again and Robot Baristas take on San Francisco (boycott THIS! workers).
TRANSCRIPTION SPONSORED BY: Disability Solutions partners with our clients to build best-in-class inclusion programs and reach qualified, talented individuals with disabilities of every skill, education, and experience level.
Joel (22s):
Oh, yeah. An Indiana woman just got 115 years in prison for poisoning her baby daddy's oatmeal and then strangling him with his favorite tie. Boy, I'm glad I swipe left on that chick. Hey, kiddies, you're listening to the Chad and Cheese podcast. This is your cohost, Joel "Apples and Cinnamon" Cheeseman.
Chad (41s):
And this is Chad "Tudo Bem" Sowash.
Joel (44s):
And on this week's show, 10,000 Maniacs drinking Coffee. You're not the Fairy God Boss of me. And a new report says Attrition costs Amazon $8 billion a year. Alexa, we have a problem. Let's ride. How's the Prince of Portugal doing?
Chad (1m 3s):
Loving it. Loving it. Another day in Paradise, my friend.
Joel (1m 6s):
Yeah, you're like an adult Happy Meal. Lovin' it. Which is a thing now.
Chad (1m 12s):
It's a good thing. Yeah, it's a the adult Happy Meal. They should actually also have booze in that fucking thing.
Joel (1m 17s):
Dude, the toys are selling for like tens of thousands of dollars on eBay. It's insane. America!
Chad (1m 29s):
Stupidity.
Joel (1m 29s):
You and I are old enough to remember the first Happy Meals, by the way.
Chad (1m 34s):
Oh yeah.
Joel (1m 34s):
That was awesome.
Chad (1m 36s):
That's pretty spectacular to be quite frank.
Joel (1m 38s):
Yeah. Playgrounds and happy meals. And thus began America's childhood obesity problem.
Chad (1m 46s):
Yes. The demise, let's just say, So last week, no demise. We were in the thick of Unleash during our last week's episode. We had Matt Alder on. We were on the floor. I mean, we were drunk with Paris Love and also wine. After you had a chance to kind of digest it. How do you feel? Looking back, how do you feel about last week?
Joel (2m 10s):
Yes. Like a good French onion soup. We were in the thick of it, for sure. No, it's great. I mean, it's been sort of a sugar rush for me to be back in front of people and just being a human being again. And Unleash was, you know, sort of the cumulation. Culmination?
Chad (2m 30s):
Culmination.
Joel (2m 30s):
Culmination. There you go. There it is. Sorry. It's still morning here in the states of just getting back to being human again. And, you know, it's great to see fans.
Chad (2m 41s):
Yes.
Joel (2m 41s):
And I think we have two kinds of fans. We have the fans that are like industry people that are very open about listening to us, telling us we're full of shit or here's where we got it right. Okay. And then there's the fans that are like, the kids that don't want their parents to know about the, the heavy metal band that they listen to when their parents are asleep. It's the fans where you're in line at the buffet and someone pulls up to you and goes like, Whispers, I love your show, man. Keep doing that shit. And it's like, because they work for somebody or have a boss, like, they don't want to come out and be real vocal about being a fan. And it's kind of those fans that I love.
Joel (3m 21s):
And those are the ones that you get when you do events. So that's some of my unleash takeaway.
Chad (3m 26s):
Yeah. They do a drive by on the booth. It's like, love what you're doing and they just keep moving. They don't stop.
Joel (3m 31s):
Yeah. We have some closeted fans for sure. It's cool.
Chad (3m 34s):
I definitely love all the people who came up and they were like, give me my t-shirt. You know, It was pretty awesome.
Joel (3m 40s):
People love the t-shirts, man. They're very soft and comfy. It's like a hug from us.
Chad (3m 43s):
They are soft and comfy. Yeah. Yeah. So how did, how did Normandy go? You had a chance to go to Normandy. That was pretty awesome.
Joel (3m 49s):
Oh shit. Yeah, that was a bucket list thing.
Chad (3m 53s):
Oh, fuck yeah.
Joel (3m 54s):
Took a bus. I thought it was a shuttle. It was a bus full of bunch of people. We drove out to Normandy, Normandy Beach, and we had a historian on the bus and it was cool, you know, they sort of pointed out things on the trip there. But actually getting to Normandy, you go on Omaha Beach, which was our first stop.
Chad (4m 14s):
Yeah.
Joel (4m 15s):
And it's equal parts, depressing, inspirational, awe inspiring. You go on the beach and you turn around and you pretend like, what were they looking at when they got off?
Chad (4m 30s):
A hail of gunfire?
Joel (4m 32s):
Yeah. And you see the pill boxes there, you see , the bunkers. You imagine machine guns everywhere. And, it really just puts in perspective the sacrifice that a lot of brave men and women, actually I think four women died on D-Day, by the way. It's real inspiring. The cemetery. I mean, it's like heart wrenching.
Chad (4m 52s):
Yeah.
Joel (4m 52s):
You know, the dog tag numbers are on the crosses and the stars of David, you know, where they came from, the numbers and their rank. The unknown soldiers that are there. The chapel is really cool. The artwork is there. And then you go down to Juno, which was the Canadian Landing. And Yes, yes. The sand is very different. Like Utah and Omaha very like solid sand. And you get to like really, you know, sand that gives away, it's like a beach, kinda like you would think of in the Caribbean. So there's a cool like pillbox right there. You can actually go in. Definitely do it in your lifetime.
Joel (5m 33s):
It's well worth the trip. I know you enjoyed it. So yeah, That's my Normandy takeaway.
Chad (5m 39s):
One, one of my favorite places to go in all of Europe. Just again, just from a history standpoint and just to be able to sit back and really just take all that in. So that's pretty awesome. You got a chance to do that.
Joel (5m 51s):
Just really awe inspiring. The human condition was all in focus on that day in June of 45.
Chad (5m 59s):
Oh, well the human condition continues. Have you watched Welcome to Wrexham yet?
Joel (6m 6s):
I have. And you can't get enough.
Chad (6m 8s):
No, no. It, it is literally a marketing master class. If you haven't seen this, Rob McElheny who was in, you know, Sunny and Philadelphia and then Ryan Reynolds, this is literally a marketing master class. So first and foremost, you, you learn about football and all the different tiers, Right. And they're like on the bottom tier of that. And then how to get, you know, relegated or promoted, you know, all these different things that, you know, us Americans really don't understand. So they take you through. It's incredibly smart. Not to mention, you know, these guys are making money. They start with <inaudible> Ifor? Williams who's like the main sponsor, like a trailer manufacturer in Northern Wales.
Chad (6m 53s):
And the next thing you know, I mean, they're the ones with the <inaudible> Williams logo on the front of their uniforms. And next thing you know, they have TikTok and Expedia and then, you know, it's just amazing they start getting those bigger players. But I mean, it is legit marketing masterclass. So if you believe in good marketing and understanding how to wrap into a narrative and then start to drive revenue off of it, this is something you gotta watch. This is on Hulu.
Joel (7m 21s):
Yeah. Apparently Ryan Reynolds was at the Indeed event last week.
Chad (7m 24s):
Yes.
Joel (7m 24s):
I dunno if you saw that. So I haven't heard what he said. I'm sure he was funny and engaging and handsome as he always is. But yeah, the whole big star buying sort of up, up and coming sports, either franchises or like the pickleball thing. I knew it was a thing, but Tom Brady, LeBron James, like the list of famous athletes that are buying into pickleball. So I'm sure there's gonna be a pickleball reality show here at some point with LeBron James. That'll be hot. That'll be your new favorite show.
Chad (8m 0s):
It's like badminton with a wiffle ball. It is a horrible fucking sport. I hate pickle ball. I hate pickle ball. I came here and they introduced me to this thing called Paddle, which is a mesh between tennis and racquetball, which are two sports that I fucking love. Yeah. So, so I've been playing that and it's been a blast. But pickleball it is fucking worthless. Jesus Christ <inaudible>
Joel (8m 27s):
The old people love it.
Chad (8m 28s):
Yeah. Cuz they don't have to move. I mean, you go up to the, the little thing they call the kitchen and you just sit there and it's, it's fucking stupid.
Joel (8m 37s):
77 million baby boomers say that's gonna be a sponsor dream when pickleball becomes a big thing.
Chad (8m 43s):
Well, I could see that. Well, that being said really quick, I've gotta give a shout out to our friends at Adzuna who have the signed the Salary Transparency petition. They are going hard and heavy and fast after this. I gotta love it. Doug and team, this is something that's important, right? This is something that obviously Indeed's starting to require. Doug wants to go further than that. He wants to be able to drive regulation off of this. So big props to Adzuna on that one.
Joel (9m 13s):
Yeah. Yeah. Sign the petition. I know we sent an email. Make sure that on social media. But yeah, make your voice heard America.
Chad (9m 20s):
Make it heard.
Joel (9m 22s):
And speaking of Unleashed, I have a cavalcade of shoutouts from the French show. So number one, our boy Lieven, great to see him as always.
Chad (9m 34s):
Yeah.
Joel (9m 34s):
Went to Moulin Rouge. You were in the sick bay.
Chad (9m 37s):
Yes.
Joel (9m 38s):
Couldn't come out. But Moulin Rouge is quite an experience. Three hours of variety, boobies, you know, everything that's good in life. Champagne and good food. That was great. Max Armbrister <inaudible> our French, you know, connoisseur of fine wine and food.
Chad (9m 56s):
Love that man.
Joel (9m 56s):
Took us to a really great restaurant. Yeah. Thanks to Max.
Chad (9m 59s):
Talk <inaudible>. Push it real good Baby.
Joel (10m 2s):
Mark Coleman Unleashed crushed it. Did a great interview that I know we'll be publishing at some point. Look out for that. Keith Sonderling, Commissioner of the EEOC came out, he loves us and we love him. Oana Iordachescu, I think I said that correctly. Yeah.
Chad (10m 20s):
Iordachescu.
Joel (10m 21s):
She came out and she is no nonsense man. Don't mess with her.
Chad (10m 24s):
Love her. Love her.
Joel (10m 26s):
Especially when is pronouncing her name? Alex Murphy. The kids at Vonq were great. They had a great party, rooftop gig that we got to be a part of. Matt 'that British guy' Alder all the fans that stopped by. It was just a great time and I can't wait to go back next year.
Chad (10m 44s):
Amen. Amen. And if you didn't get a t-shirt at at Unleash. That's okay. Go to Chadcheese.com/free. T-shirts by JobGet. Oh yeah, there's beer. You don't forget about the beer by Aspen Tech Labs.
Joel (10m 59s):
Oh yeah.
Chad (10m 60s):
And bourbon aka any type of whiskey that we feel like sending you. That's one from Joel, one from Chad. You get two bottles of whiskey by our friends at Textkernel. So get out there chadcheese.com/free. Get your free stuff.
Joel (11m 16s):
That's right. That's right. You get one good bottle from me and one shit bottle from Chad. If if you're getting bourbon.
Chad (11m 24s):
I don't send Laphroaig.
Joel (11m 25s):
And speaking of good and bad, Chad, I got another LinkedIn poll that I wanna share with everyone.
Chad (11m 31s):
Always share your polls.
Joel (11m 32s):
Spread the LinkedIn poll with everyone. So you and I have this ongoing debate about which Val Kilmer character is better. Jim Morrison from the movie The Doors or Doc Holiday?
Chad (11m 49s):
Yes.
Joel (11m 49s):
From the movie Tombstone. Well Chad, you came out on top on this one. So Jim Morrison voted 31% of our listeners. Doc Holiday had 69% of our listeners. By the way, it's always good when a LinkedIn poll lands on 69. I just wanna underscore that. Here's why the 69% are wrong. By the way, they're wrong because Jim Morrison was a person of recent history where there's video interviews, people know what Jim Morrison acts like.
Chad (12m 21s):
Oh get off your freaking shit. Oh my God.
Joel (12m 26s):
It's much harder, in my opinion, to recreate a known figure than Doc Holliday who no one actually knows what the hell he was like aside from a few stories. So it's really easy to create a new character. So anyway, the 69% are wrong, but we love a good LinkedIn poll and we love it when people come out and share their opinion on important business issues. Which is the only thing you should share on LinkedIn kids, by the way.
Chad (12m 49s):
Yeah, yeah, whatever, whatever. Really quick, we gotta hit the event train cuz we've got, we still have these things going on kids. It's sponsored by our travel Shaker Recruitment Marketing. That's right. I, here in a couple of weeks, I'm gonna be at the Web Summit, the largest tech summit in the world. Didn't know this, didn't know this. That's happening in Lisbon. The first week of November I got tickets. Keith Sonderling, our friend, aka the E E O C, Comish is speaking and hooked Julie and I up with tickets. So we're going to that. And then since we are not gonna be in the states for Thanksgiving, we are going to London for the TA Tech Business Accelerator on November 23rd.
Chad (13m 31s):
Can't wait to see everybody there. So if you are close to London, if you're in or around the area, hell go to tatech.org, check it out. Register. Hopefully we see you there.
Joel (13m 44s):
Hopefully we see you there.
Chad (13m 46s):
Bring me some turkey.
Joel (13m 47s):
We got birthdays, Chad.
Chad (13m 47s):
Birthdays.
Joel (13m 47s):
That's right. Another trip around the sun for some of our fans. And by the way, you mentioned free alcohol. Our friends at Plum have graciously agreed to give a fine bottle of rum. That's rum with Plum and that's marketing genius, Chad, to a lucky birthday winner each month. So if you haven't, put in your info at Chad cheese.com/free. Make sure you do that and put in your birthday. You might win some rum. Celebrating another year on the planet. Happy birthday podcast fan Gary Gray, Cheryl Callaway, Jamieson Stark, Thom Kenney, Ryan Beck, it's been a while since we've seen him.
Joel (14m 28s):
Ryan Beck. Gareth Thiveux, hopefully I'm saying that correctly. Probably not.
Chad (14m 33s):
Excuse me.
Joel (14m 34s):
Charlie Judy, Jeff Waldman your favorite. Dr. John Sullivan. And wait for it!
sfx (14m 38s):
Welcome to All Things Scottish. Our slogan is If it's no Scottish it's crap.!
Joel (14m 45s):
That's right. Our friend Stephen McGrath from CandidateId celebrates a birthday and I can't wait to have a bit of scotch with my favorite Scott when I see him again. Happy Birthday everybody from your friends at Chad and Cheese
Chad (15m 3s):
Happy B
Joel (15m 3s):
Birthday Fantasy Football, Chad.
Chad (15m 4s):
Oh, good God.
Joel (15m 6s):
We got some Fantasy Football news. Week six is in the books and our friends at FactoryFix have graciously agreed to support this insane meathead adventure that we are on. Okay, number one on the list. That's right. Serge "Spirit of 1812" Boudreau is in first place out of Canada. Why did that happen?
Chad (15m 34s):
Wow.
Joel (15m 35s):
Followed by Christie "still making a killing." Cris Cross "the MacDaddy make you jump" Manion. Dennis "Tupperware Cheese Mania". You know him and you love him. James, "he's the Skipper I'm Gillum" <inaudible> Jason "Mamoa" Putnam. Joe "Wilke or Won't he?" Matt "don't make a mountain out of a Molehill." Mike Shaffer. Hanging Chad Sowash and in the cellar, Dan "the torpedoes" Shoemaker. Congratulations everybody. Or not so much in playing Fantasy football sponsored by our friends at FactoryFix.
Chad (16m 22s):
TOPICS!
Joel (16m 23s):
All right. Is it Inya yet? Talenya that is Paycor. Cincinnati based human capital management software provider announced the acquisition of Talenya a Hoboken. Can you name the most famous Hoboken son of Hoboken? Frank Sinatra.
Chad (16m 36s):
Old, Blue Eyes.
Joel (16m 38s):
I see that you didn't have the answer as I was looking at you. Anyway, they're AI-based recruitment platform terms were not disclosed. Founded in 2016, Talenya had raised a total of $9.5 million. The acquisition will enable Paycor to reduce time to fill critical roles by sourcing candidates actively looking to change jobs and passive candidates using Talenya's AI platform. Paycor expects to begin offering an integrated solution in the first quarter of 2023. Chad, is it Talenya or isn't it?
Chad (17m 17s):
Or is it Tadontcha? I don't know. Talenya's co-founder and CEO - Gal Almog was the founder and CEO of RealMatch, which became Pandologic so he's a veteran of the space. PayCor w/ FY’22 total revenue was $429.4 million, which is an increase of 22% year-over-year and sees automation in recruiting a good opportunity to sink their teeth into. Paycor, like any other platform, offers "custom hiring workflows"
Chad (17m 58s):
which have always creates bottlenecks for hiring companies who thought they knew how to build efficient workflows, but just plain suck at it. Well now clients of Paycor can possibly pay to skip steps, in their flawed bespoke workflows, and just allow automation to take the wheel around sourcing, engagement, prequalification, and other front-end tasks. It's a smart move by Paycor. But much like most HCM platforms, the big question is, will they fuck it up?
Joel (18m 38s):
Mm. Little known fact I met Gal back in 2003 or 4 when he was starting what was then Red Match.
Chad (18m 47s):
Red Match, Yeah.
Joel (18m 48s):
And then eventually Pandologic. So the dudes got some core competencies. He had called me up in 2018 and said, I got this new thing called Talenya, I wanna show it to you. And so I have known Gal for quite a while. I think this is a little bit of timing. They've taken less than $10 million so price tag wise, they had a lot of opportunities to find buyers. Yeah, look, we've talked a lot about the pricing pressure on sourcing tools, the automation of sourcing tools. So I think timing-wise, you know, five years he probably saw the writing on the wall that was time to cash out on this puppy and Paycor was there to catch the company.
Joel (19m 32s):
So
Chad (19m 33s):
Sugar daddy baby.
Joel (19m 34s):
Yeah, so they have, so Talenya has some really tight bonds with the Cleveland market and Paycor is Cincinnati based. I don't know if there was some connection there maybe. As far as Paycor is concerned, Paycor is a public company. It's valued at $5 billion market cap. It's stock has been going sideways pretty much since it went public. It needed to goose or at least try to goose the stock a little bit. And this deal does a few things. Okay. It gets on two hot trends, advanced recruiting tools, sourcing automation, and also DEI, which is is a big spin on what Talenya promises.
Joel (20m 17s):
The cost of this is immaterial. It probably brings $5 million. This was an analyst that talked about the deal. $5 million in revenue to a, by the way, $5 billion market cat company. So we're not talking about a huge deal.
Chad (20m 33s):
No.
Joel (20m 33s):
For them to take in terms of risk. The deal was priced assumed at around $25 million or less. So they paid about two x, maybe two and a half X for the deal. Again, immaterial for a 5 billion valued company like Paycor. It hasn't moved the needle in terms of shareholders time. Time will tell. But to me, this is just a marriage of a company that, you know, was seeing pricing pressure on sourcing and automation, wanted to find a buyer and a company in Paycor that has a lot of money to spend on, you know, taking some deals, taking some shots at goosing the stock. So far it hasn't done that, but.
Chad (21m 12s):
It won't.
Joel (21m 12s):
I'm not real bullish on this. I think it was, you know, two desperate people that found each other and you know, we'll see if they find love or not, but I'm not real confident. My guess is Gal will be gone in 18, 24 months and starting something new.
Chad (21m 31s):
Yeah.
Joel (21m 31s):
And this deal will be a silent footnote in the history of recruiting.
Chad (21m 35s):
Yeah. This was, I don't see that this is anything that's large enough to do any goosing to any stock whatsoever. I mean, they're way too big and Talenya is way too small.
Joel (21m 47s):
Yep.
Chad (21m 47s):
This is literally around recruitment automation and everybody is doing it. So if you can get it cheap, I'm not saying that they did, but I'm gonna say they probably did since again, Gal only took around $9 million. Why the hell not? They've got plenty of cash to be able to throw at it and I'm sure Gal got a good price. So yeah, I I don't think anybody had the anticipation or thoughts that this was going to kick the stock in the nuts cuz it's just not big enough.
Joel (22m 14s):
Mostly a big snoozer on this one, Chad. Well let's get to something that might wake you up like a good caffeinated drink. 10,000 coffees either in New York or a Toronto based company. It's a little bit weird in terms of the press release anyway.
Chad (22m 31s):
Like the name?
Joel (22m 32s):
So we'll get to that. So they're a provider of talent experience offering mentoring and skills development solutions. They just raised $56 million in funding, which from what I can tell is their first and only round of funding. So good on them for getting that much money.
Chad (22m 45s):
That's a big round.
Joel (22m 48s):
Yeah. The company intends to use the funds to build out its product roadmap and further scale its solutions globally. They've served some 200 customers according to a news release. Chad, is this a hot cup of Joe or just some lukewarm mud in your mug?
Chad (23m 2s):
Well, it's really young and it's really broad. And when you look at it, you ask yourself what is it really right out of the gate? And it, what it looks like is an internal LinkedIn. LinkedIn has, obviously with Lynda, it has has educational platform, so L and D. It has all those things that a LinkedIn would have, but it's more for internal, right? So you can hit with mentors. I mean you could mentors on LinkedIn, all this stuff that they're looking to do is kind of like, creating that social media for the internal kind of like the new intranet. So I ask myself, you know, have any of these internal social media platforms fared well over the years? No, not really.
Chad (23m 42s):
I mean, what have they done? Where have they gone? Are they necessary? You know, I think it's one of those scenarios where there's so much going on. You need automation to be able to drive engagement, but then you can't have automation do everything. Because if you have webinars or you have things that are outside of the system, how do you drag that back into the system? You need a Love Boat Activities Director pretty much. So you have to get people, human beings actually managing these platforms because the other managers that have all these learning development webinars and sessions and stuff, they're not gonna do that shit in the system.
Chad (24m 27s):
They're just not going to. So unfortunately, I think 10,000 Coffees, there's great ideas behind this. The hardest thing, much like most platforms that have failed over the years is engagement and stickiness. How do you get people into this like a lifestyle platform as opposed to something that's really cool for about five minutes and then it gets kicked to the curb.
Joel (24m 48s):
Yeah. Did you just make an Isaac from the Love Boat reference?
Chad (24m 54s):
It was Julie. It was Julie from the Love Boat.
Joel (24m 58s):
Julie, Yeah. Just when I think we've jumped the shark on this whole like, big investment, crazy valuation shit like this keeps happening. By the way, there is an actual company called 10,000 Coffee from Sydney, Australia that is coming to America. They just opened up in Los Angeles. So there might be some issues, either branding or legal with an actual coffee company called 10,000 Coffee or 10,000 Coffees. We first met these guys at inspire HR down in Nashville and now we know how they got the money to sponsor drinks at Margaritaville. It's this funding round that we are talking about now.
Joel (25m 41s):
So they got all the buzz words on the press release. They've got connectivity, mentoring, DEI onboarding, early talent and leadership development. I think they've covered all the bases in terms of buzzwords and companies that get stupid valuations and crazy funding from companies. I think you've summed up the business as itself pretty well. And we're pretty long in the tooth on this show anyway. So I say let's just wait and see on 10,000 Coffees or 10KC as the kids call them. And we'll take a quick break and then go into something Chad and I are calling thumbs up or thumbs down.
Chad (26m 20s):
Well, real quick, I, I've gotta slip this in YA an acquisition mention ARC acquires HR tech. That's big in the event space. So that's gonna be interesting to watch.
Joel (26m 28s):
Yeah, I agree. Oh, you slipped that in. You slipped that in very quick.
Chad (26m 32s):
Very quick.
Joel (26m 32s):
Put it in Selena. Yeah, just the tip. We'll be right back, everybody. All right, Chad, let's play a little thumbs up or thumbs down. Here's how it works. Okay, I'll read a news item, not a funding news item. That's why we call it thumbs up and thumbs down and not buy or sell. You ready to play?
Chad (26m 55s):
Let's do it!
sfx (26m 56s):
ding, ding, ding.
Joel (26m 56s):
All right, let's do this. All right. Career Beacon acquires Ruutly. Moncton, New Brunswick based Career Beacon where my wife is from, by the way, not Moncton, but New Brunswick. They've acquired employer branding platform, Ruutly, that's R U U T L Y. Terms were not disclosed based in Toronto. And apparently bootstrapped from day one Ruutly promises to automatically transform static text job postings into interactive, sexy, delightful candidate experience whenever a new job is added to a company's ATS. Chad, are we a thumbs up or down on Career Beacon acquiring Ruutly?
Chad (27m 37s):
And Ruutly not being double U, but a you, you as a <inaudible>
Joel (27m 41s):
It's a Canadian double banger baby.
Chad (27m 44s):
It's a thumbs up man. I think this is a very smart move by the very smart move by the Canuucks to start buying platforms that connect CareerBeacon and Alongside with UX. Using Ruutly inside of Alongside to create rich content - aka job postings and social shares that are then distributed to CareerBeacon could provide better attraction to brands using those platforms through a much better job search experience. And when you're looking to, and I'm not saying that this is going to, you know, this is going to do a ton of moving of the iceberg, the Indeed iceberg, but when you're a company who is going against Indeed, you're just trying to chip away, right?
Chad (28m 24s):
And these guys are chipping away with this type of, this type of acquisition. Good job. Thumbs up.
Joel (28m 33s):
I think it's a thumbs down for me. An employer branding business called Ruutly. Really? That's the name of your company. I think we're going overboard on job postings, man. We we're talk like video embedding this thing has little drop down JavaScript shit. Like Google for Jobs does not like this stuff. Keep it simple. Give me a text base job posting, like I understand the sexiness, but just like resumes, we're getting too fancy with job descriptions. Let's keep it simple. Let's let the robots do what they need to do with the indexing and the scraping. I don't know, I I think I'm a big sell on these two fine Canadian companies.
Joel (29m 13s):
By the way, I was in New Brunswick this summer and we passed by Moncton. Dammit. Why didn't I stop by the CareerBeacon headquarters and say hi.
Chad (29m 22s):
But just to throw this out there the robots aren't applying for jobs, Okay? So until they start doing that, we have to be sexy for those kids out there humans. So it's still a thumb up.
Joel (29m 33s):
It's fine. We disagree on this show. It's okay. It's okay. Now that you're European, we're gonna disagree a lot more. All right. The Muse acquires Fairy God Boss employer branding site. The Muse has acquired Fairy God Boss, a similar business, but one that focuses exclusively on women and has reviews terms were not disclosed. Fairy God Boss founded in 2015, had previously raised $14 million. The Muse says they'll keep the two brands separate, due to the value of each community while giving employers a single relationship to meet their hiring goals. Chad, is this deal a thumbs up or thumbs down?
Chad (30m 13s):
It's a big thumbs down for me. So selling to The Muse is like grabbing onto an anchor while you're already drowning. I mean, I love everything that Fairy God Boss stands for, but I cannot understand why they or others like them, like the Mom Project haven't blown the doors off of D E I B and the entire industry. They should be leaning into driving advocacy for initiatives like wage transparency and closing the wage gap. I mean, hell, companies like Adzuna are doing more for pay transparency and equity than Fairy God Boss has. And to me, you can't be in the middle of the road when you're in one of these types of platforms.
Chad (30m 57s):
So if you're trying to press an entire cohorts, you know, females, an entire gender space, you have to stand for something. And every time we've talked to Fairy God Boss, I love 'em to death. They're great people, but it's like they wanted to try have one foot on the advocacy side and one foot on the employers side, and you've got to stand for something. And to me, they just never stood for anything.
Joel (31m 26s):
Let's go back in time to 2015 real quick. When I had a little less gray hair in my beard. Yeah, so Glassdoor was eight years old in 2015. There was a lot of consensus, I think I was on this boat that the employee review sector would get segmented. That there would be reviews for women, there'd be reviews for African American, Blacks, Asians, everyone would get their own little niche of employee reviews. That didn't really happen. Glassdoor was acquired. And Indeed and Glassdoor probably have 80 plus percent of the review market. And if you're looking for reviews, that's where you go.
Joel (32m 8s):
One of those two sites. Enter the pivot for Fairy God Boss. Yes, we have reviews, but we're more about pay equity and equality and inclusion. And they rode that whole wave, which is sort of fading a little bit in terms of value of that. A lot of people are doing a lot better than someone that started out as a review side and wanted to pivot. Now we are, if my math is correct, seven years into this business, seven to 10 years usually is the time when your investors say, all right, let's cash this puppy out. I'm guessing they called New York based The Muse down the street and said, 'Hey, what do you think about and buying a female review site with some other shit sprinkled in?' The Muse who's always down for a dumb deal, said, Sure.
Joel (32m 55s):
And now you're gonna have two sites. By the way, I don't think Muse wants reviews on their site. They're very heavy into glorifying companies. They don't want anything negative to come on onto their site. So these, these guys are gonna be separate. They're gonna try to sell both these sites and one one's fail swoop. We know that historically salespeople trying to sell two different products have a hard time doing that. So we'll see how that works. But to me, this is just like the time ran out on an idea that just didn't happen for very God boss and they found a sugar daddy in the muse and case closed. I think Fairy God Boss will be a footnote in history, much like the other companies we're talking about today.
Joel (33m 41s):
So that one is, I guess that's a thumbs down for me too, Chad. All right, Tatio Recruitment sourcing company. Tatio has raised 5.3 million in a seed round, founded in 2019. The company uses AI to power its job simulation platform to help recruiters access underutilized but qualified workers in the us. And to help those candidates find the right job, it gives employers access to pre-qualified candidates to interview friend of the show. Maya Hubbert Tat CEO said quote, instead of vetting people out, we vet them in. Chad, are you thumbs up or thumbs down on Taio?
Chad (34m 21s):
Well, full transparency, I am an advisor to Maya and the gang over there, but a very early start getting seed funding of 5 million is, is a huge thumbs up for me. They, they've got a long way to go as much early, early startups do early stage startups, but Maya and the gang now has some cash and we can see what they're going to do. So it's time to turbo that bitch up.
Joel (34m 46s):
That's a thumbs up from Chad. I agree. By the way, no one, no one can support the open bar party like a good TA party as people at HR Tech will remember. Great tech, great team, great, great. First round by the way. Very solid, but not, but not too much. A nice little taste, A nice little start. I think this is a great deal. Thumbs up for me as well. Tatio. The name is Little Suspect, but I'm learning, I'm learning to, to deal with it. All right, let's talk about Glassdoor filters. We talked about Fairy God Boss. Let's talk about the og.
Joel (35m 26s):
Glassdoor users can now search for companies by workplace factors or demographic group ratings. That's right. Users can now customize their job search by workplace factor ratings such as work life balance, culture and values, diversity and inclusion and more, or by overall ratings from demographic groups including race, ethnicity, gender identity, sexual orientation, and more. The data is compiled based on millions of insights publicly available on Glassdoor. Chad, thumbs up or down on the filters?
Chad (35m 57s):
Thumbs down. I mean, we're talking about a company who can't, a tech company who can't even match jobs and they wanna create these advanced filters. I mean, again, it's, it's kind of like what is old is new again. The the, these were the browsable pieces that were on the side of most of those. Indeed, back in the day. Remember when Indeed had all of the sure. Everything over the side, right? Related, That's all this, that's all this is, right? So, you know, it would be great to see a technology company actually do something that was innovative as opposed to, you know, 19 shit 10 years ago.
Chad (36m 37s):
So, thumbs down.
Joel (36m 38s):
Yeah, Glassdoor is good at two things, PR and scaring companies into buying shit. This is great. PR filters, everyone's into filters, right? These aren't Snapchat filters, however, these are like search filters, which aren't as sexy. Yeah, But filters are good headline. People are all into like, inclusion. So they love that this is something that's gonna get covered. So for, for a, you know, punching above your, your weight, this is some good pr, so good on them that they're good at pr. And number two, getting more money out of their current clients, scaring their clients into buying more shit. This is one of those things, right? Like, Oh, we better buy some of this. We better make sure we're in these filters. We better make sure that, that people like us in these filters that we show up and that we then, then we can tell our, our execs and feel good about ourselves that we are having jobs posted in these filters that are, should I say woke?
Joel (37m 31s):
I don't know.
Chad (37m 32s):
Such a scam.
Joel (37m 33s):
Anyway. Yeah, it's like, let's get more money and get more press. They're good at those things. This is a perfect example of what Glassdoor does to get good press and get companies to continue wasting money on their dying solution until they just become indeed and go away. Let's transition that good stuff. Stuff
Chad (37m 51s):
That thumbs up, that thumbs up,
Joel (37m 52s):
Thumbs down. No, no, no, that's, that's still good. I mean, I guess it's good if you're totally just PR and, and getting money from Be able, but this is just some more bullshit at a glass store. But keep that PR department strong guys. It's going, it's going well. All right, let's get to something totally different. Amazon, Chad, your favorite organization is having some issues. According to in Gadget, Amazon's attrition costs $8 billion annually. This according to some leak documents and it gets worse from there, Chad. The documents also indicate potential lapses in the company's learning and development data.
Joel (38m 36s):
Quote, only one out of three new hires in 2021 stay with the company for 90 or more days, and Amazon's turnover was approximately 150% annually. That's according to another story by the New York Times. Amazon declined to confirm or deny any of the specific claims made by in Gadget. But wait, Chad, just like a good Ginsu knife collection, there's a lot more. Amazon says it will close all but one of its us call centers and shift hundreds of office employees to remote work in an effort to save on real estate. The call center's currently planned for shuttering, rn, Kennewick, Washington, Lexington, Kentucky, and Phoenix, Arizona, Huntington, West Virginia, beautiful Huntington, West Virginia or Houston will remain open.
Joel (39m 24s):
We got a story or two on Amazon. Chad, go!
Chad (39m 27s):
First and foremost, attrition is costing an estimated 8 billion. That's just attrition. So can I get a fucking amen over here for God's sake? Seriously, why aren't companies regularly creating these types of reports? Hey, talent management peeps out there that are listening, wake up and duplicate this formula. What is your inability to retain talent costing your company? Do you think that eight, the 8 billion number is gonna go unnoticed to the C-suite? Now yours might be less, but it doesn't matter if you start to actually demonstrate how this is affecting the bottom line. That's the case, right?
Chad (40m 8s):
So come on, people, get your heads outta your asses and start creating better business narratives around talent acquisition and talent management. If you can't keep the seat filled and fill in a timely manner, you are losing money. You have to go deeper than cost per hire, time to hire. You gotta get your peeps in business and sales and marketing and and, and product. All those, you gotta get 'em together to calculate attrition and your inability to hire and what it's costing the company. So attrition is huge. This is to me something that every company should be looking at. I'm, I'm glad that whether Amazon says, you know, they, they, they deny it or not.
Chad (40m 51s):
This is obviously happening back to, to the, the point of remote. I see this as them actually going to offshoring. This is the first step to offshoring. They are going to start closing down and then they're gonna go to remote and then guess what's gonna happen? Kids? Oh, we can't find enough people. Oh wait a minute, I can pay them a quarter of what I'm paying. You know, an American, let's go ahead and do that. That's, it's got Jeff Bezos strategy written all over it. So you see the attrition, Here's the narrative that's being created. Here's the, the attrition. Yes, we have to close things down, then we won't be able to hire people and then we're gonna start, start offshoring. It's clear to me what the fuck's happening here.
Chad (41m 32s):
Yep.
Joel (41m 32s):
So two things. So net profit at Amazon last year was 33 billion. So 8 billion.
Chad (41m 41s):
God,
Joel (41m 41s):
It means something, you know, it's not a drop in the bucket even for Amazon. It's, it's legitimate cash. So it's simply, it's unsustainable. I you're, you're running out of people to hire. You have 150% attrition every year. Unless the robots are coming faster than we know, this is just unsustainable. The they gotta fix shit. They gotta, they gotta ma I don't know what, what the hell they're doing. I don't know how how you can go into work as a recruiter, the, the, you know, talent team at Amazon and go, Oh, this is a great track. Like we're on the right track people, they need some Matt Foley over at Amazon, Chad. That's what they need. They need to get on the right track on this.
Joel (42m 23s):
Cuz unless the robots are coming, they're, they're screwed on this. They gotta fix it. They gotta fix the retention issue at Amazon. No question. Now the remote, Yes, you took it right outta my, the words right outta my mouth. Look, Amazon gets bku tax incentives to open shop in these cities, in these states, right? They get tax breaks, governments throw shit at them to get them to open shop in their, their cities. Yeah, the whole work from home remote. Like this is the future, whatever. What a fucking smoke screen. Like it's part gen, it's evil genius, let's be honest. But they can go to these cities and states and be like, you know what, this is the world as it is the pandemic.
Joel (43m 6s):
Sorry, good luck suing us in court. And then over time it's that boiling the frog. These people that leave their jobs, they're gonna start going from Phoenix to the Philippines. Like these jobs are gonna slowly, you know, thing go from Lexington to Laos, they're gonna do it. And this is the, the evil genius that is Amazon. And these jobs are gonna slowly get out of the US and go into other countries. And you, you are spot on my friend. I'm just sorry for all the governments that took it in the ass in tax incentives and deregulation, whatever else they had to do to get Amazon to come to my city, come to my city.
Joel (43m 53s):
All right, let's take another break. And speaking of robots and coffee, this is a great book into this podcast. Robot baristas everybody. All right Chad, for three days last month, 1000 food service workers at San Francisco Airport went on strike over wages and working conditions during the walkout. Not a food service worker could be found, except that is for the robots serving up espressos and green tea lattes at two automated coffee kiosks with the ominous name Cafe X. During the strike, the coffee bots operated 24 hours a day taking orders via attached touchscreens or phone apps, worrying quietly behind glass even while they're fellow laborers, chanted slogans and marched outside due Android's dream of electric higher wages and better benefits.
Joel (44m 45s):
No, because they never sleep. Chad, what's your take on robotic baristas at San Francisco Airport?
Chad (44m 50s):
In all of our travels, we've seen these robot baristas everywhere. I've seen them in Cincinnati and Austin. I mean they are everywhere, right? Can they fix a pumpkin spice latte? I sure as hell bet they can. So at the end of this, once again, I I see, I see we have robot coffee machines, baristas. Yeah, this is, this is gonna happen. And will, the big question is, where else will we start to see these baristas pop up other than just airports?
Joel (45m 20s):
Yeah. Speaking of going to Normandy Beach on our way there, we had pit stops at gas stations. And guess what? Every gas station in France has automated coffee machines and no one serves a good cup of Joe like the French. So if you want a latte, espresso, cafe ole whatever you want. Cafe Mocha, one of my favorites. Chad, you can get it from a robot in France, by the way, Lines at Starbucks. How pissed do you get when you're headed to a flight and you want to get a coffee and you gotta wait in line at Starbucks? Oh yeah, while they, while they fix your drink and write your name on the cup. Like, not anymore kids, they don't give a shit, right? So, so anything that's sort of this quick serve like get me what I want, get me the hell outta here is gonna be roboticized and coffee is just one of the many that will, I think that the jury's out in terms of robots making burgers, salads, your smoothies that you get after your workouts, Chad or your your favorite quinoa bowls.
Joel (46m 21s):
But in terms of coffee, ice cream, I've seen those any kind of that fast. Get me what I want. Give me hell outta here. Robots. Also, Chad cannot make you an adult Happy meal and McDonald's and I'll end with this. The Ghost Pepper Whopper with the black bun is coming to a Burger King near you. Just in time. I'll pass just in time for Halloween. I just hope your anus can handle the Ghost Pepper Whopper coming out the other end. We out.
Chad (46m 58s):
We out.
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