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A slightly more informative link, IMHO, is the article on medium.com[1], linked from this teaser/signup page. TL;DR, I believe: They defined metrics[2], gather
by jlg23 9y ago
A slightly more informative link, IMHO, is the article on medium.com[1], linked from this teaser/signup page.
TL;DR, I believe: They defined metrics[2], gather the relevant values from applicants and ask their algorithm: "How much?"
Buried in [1] is this gem:
In our pilot, we evaluated nearly 3,000 companies and committed to funding several dozen of those, across 12 countries and many sectors, without a single traditional venture pitch. In fact, in most cases the data-driven approach allowed us to reach conviction around an investment opportunity before we ever even spoke to the founders. Worth noting that when we recently looked at CEO demographics, we found that 42% were female and the majority nonwhite.
A purely data driven approach to VC investment could level the playing field a lot and I could imagine that adapting that concept to hiring is a) not too far off and b) a great way to reduce biases in the hiring process - if everything works as promised (or rather "as hinted at").
[1] https://medium.com/social-capital/capital-as-a-service-a-new-operating-system-for-early-stage-investing-6d001416c0df https://medium.com/social-capital/capital-as-a-service-a-new...
[2] https://medium.com/swlh/diligence-at-social-capital-part-1-accounting-for-user-growth-4a8a449fddfc https://medium.com/swlh/diligence-at-social-capital-part-1-a...
- SandersAK 9y agook thanks that is way more informative of what they're trying to do. It's shotgunning, but with a relative blind eye to traditional personal network signifiers.
- dang 9y agoSince that other url was posted a few hours earlier (https://news.ycombinator.com/item?id=15551505 https://news.ycombinator.com/item?id=15551505), I guess we'll merge this thread into that one and roll back the clock on it to give it a second shot. Seems fairer than the alternatives I can think of.