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I'm the founder of Key Values, which helps software engineers find teams that share their values. Not only do I live in the Bay Area and have many founder frien

I'm the founder of Key Values, which helps software engineers find teams that share their values. Not only do I live in the Bay Area and have many founder friends, but it is also my full-time job to connect tech startups that are hiring w/ devs looking for new roles, so I think I have a good view on this. I'm still gathering information on how coronavirus is impacting the job market, but what I know now is that many companies have laid team members off in the last week, and I suspect many more will soon. Most early-stage startups that did not recently fundraise and do not yet have significant revenue will struggle during this pandemic. If they were planning to fundraise this summer, fall, or winter, their investors and advisors have already told them start cutting costs in order to survive. Hence, a rise in layoffs. More stable startups may have slowed their hiring efforts (i.e. "we planned to hire 40 engineers by 2021, but after adjusting our budget, we're now looking to hire ~20"), but they've also explicitly told me that filling certain roles are more urgent than ever. While this all sounds bleak, some companies will endure, and a smaller number will actually thrive during these times. Several folks who have recently been laid off have reached out to me. I know that getting laid off can give you the impression that every company is laying people off, but it isn't true. Companies who need to hire in order to keep up w/ unprecedented demand are ramping up and are excited to capture talented folks who were recently let go. So stay positive, put yourself out there, and keep looking! I'm currently reaching out to all of the companies I work w/ in order to stay on top of their hiring plans, and I hope to message what I learn in my upcoming newsletters. It is the easiest way for me to keep folks up to date on what I'm seeing, and I absolutely will not take offense if people unsubscribe. Key Values: https://www.keyvalues.com https://www.keyvalues.com

Peretus 7y ago
Wow, these are fantastic insights that almost exactly match the language that was used during the announcement at our company. They were planning on a raise in the next few months and this hit them pretty hard. I don't blame them for for the steps they've taken as, frankly, it's the only thing that makes financial sense. Thanks again for this comment, and I'll absolutely be subscribing to your newsletter.
- lynnetye 7y ago
  No worries! I'm sorry to hear you were laid off, but am glad you aren't taking it personally and understand the reasoning behind what was certainly a difficult and painful decision. There's a lot of uncertainty right now –– for everyone –– but I think people who are resourceful, stay positive, and take initiative (like posting this on HN to generate discussion) are gonna be A-okay. Btw, I don't know your email, but feel free to reply to my next newsletter (goes out on Thursdays) if you have specific questions or feedback on how I can be more helpful. I sometimes feel powerless because I don't know what I can do to help during these trying times –– I'm not a healthcare professional, I'm not rich, I'm not a political leader, I'm not famous –– but I can at least (a) connect individuals and companies who can help each other, and (b) do my part to inform anyone I know about COVID-19, the job market, and/or what I'm doing/thinking. It's not a lot, but hey, it's at least a start!
  - Peretus 7y ago
    I've subscribed to your newsletter and will be staying in touch. Also, in case you'd like to get in touch directly, my email is my name (Casey McNeil) at the mail service that google offers.
edouard-harris 7y ago
Chiming in here with a bit of data on the hiring side of things. I'm the cofounder of SharpestMinds, an ISA-powered mentorship marketplace for data scientists. For all the obvious reasons, we track the hiring rates for our grads very closely and have been keeping close tabs on the pandemic's effects on the tech job market. Our observations so far: 1. Hiring in tech has definitely not gone to zero, even for the junior-level roles we skew towards. 2. We're seeing more like a 60-70% drop in hires compared to our original (pre-COVID) projections for the month of March, so far. 3. Companies least affected seem to fall in two major categories: A) BigCos with deep pockets; and B) SaaS businesses with predictable revenue streams and some degree of economic insulation from the "meatspace" economy. Many software businesses (e.g., Zapier, GitLab) are already run partly or fully remotely, so their hiring workflows can take quarantine in stride, to an extent. Many others (e.g., Stripe) are quickly adapting to these new constraints. The effects of a global quarantine and pandemic are almost certain to propagate to all companies eventually. But some are less affected than others, economically and operationally. We're fortunate in tech that it's still quite possible - albeit measurably harder - to get hired under current conditions.
- mkagenius 7y ago
  > 60-70% drop in hires compared to our original (pre-COVID) projections for the month what was your original projection
- dickeytk 7y ago
  60-70% drop meaning if it was 100 roles last month it's 30-40 this month?
  - edouard-harris 7y ago
    Correct.
- TAForObvReasons 7y ago
  > SaaS businesses with predictable revenue streams and some degree of economic insulation from the "meatspace" economy Those are most likely lagging by a few weeks or a month. Monthly subscriptions are arguably the easiest to cut and companies are looking to cut non-essential services.
juliusx 7y ago
This project looks useful, but I don't see any conservative values. What if someone values monoculturalism?
- farazbabar 7y ago
  I hope we are not conflating conservative values with monoculturalism and you meant to ask about two different values. Also, as someone who has been at the receiving end of monoculturalism crowd, I hope they find enlightenment eventually.
- deleted 7y ago
  [deleted]
ykevinator 7y ago
Why are you hijacking his thing?
- Peretus 7y ago
  As the OP, I intended for this to be more about a discussion of the current market than my particular situation. While things just became quite difficult for me personally, and I would love the opportunity to make a connection that leads to another job due to this post, things have gotten much worse for many people all together. This individual's comment was insightful, helpful, and directly answered the question I asked in my post. Personally, I'm quite glad this person added their perspective.
deleted 7y ago
[deleted]

Peretus 7y ago

Wow, these are fantastic insights that almost exactly match the language that was used during the announcement at our company. They were planning on a raise in the next few months and this hit them pretty hard. I don't blame them for for the steps they've taken as, frankly, it's the only thing that makes financial sense. Thanks again for this comment, and I'll absolutely be subscribing to your newsletter.

lynnetye 7y ago
No worries! I'm sorry to hear you were laid off, but am glad you aren't taking it personally and understand the reasoning behind what was certainly a difficult and painful decision. There's a lot of uncertainty right now –– for everyone –– but I think people who are resourceful, stay positive, and take initiative (like posting this on HN to generate discussion) are gonna be A-okay. Btw, I don't know your email, but feel free to reply to my next newsletter (goes out on Thursdays) if you have specific questions or feedback on how I can be more helpful. I sometimes feel powerless because I don't know what I can do to help during these trying times –– I'm not a healthcare professional, I'm not rich, I'm not a political leader, I'm not famous –– but I can at least (a) connect individuals and companies who can help each other, and (b) do my part to inform anyone I know about COVID-19, the job market, and/or what I'm doing/thinking. It's not a lot, but hey, it's at least a start!
- Peretus 7y ago
  I've subscribed to your newsletter and will be staying in touch. Also, in case you'd like to get in touch directly, my email is my name (Casey McNeil) at the mail service that google offers.

edouard-harris 7y ago

Chiming in here with a bit of data on the hiring side of things. I'm the cofounder of SharpestMinds, an ISA-powered mentorship marketplace for data scientists. For all the obvious reasons, we track the hiring rates for our grads very closely and have been keeping close tabs on the pandemic's effects on the tech job market. Our observations so far: 1. Hiring in tech has definitely not gone to zero, even for the junior-level roles we skew towards. 2. We're seeing more like a 60-70% drop in hires compared to our original (pre-COVID) projections for the month of March, so far. 3. Companies least affected seem to fall in two major categories: A) BigCos with deep pockets; and B) SaaS businesses with predictable revenue streams and some degree of economic insulation from the "meatspace" economy. Many software businesses (e.g., Zapier, GitLab) are already run partly or fully remotely, so their hiring workflows can take quarantine in stride, to an extent. Many others (e.g., Stripe) are quickly adapting to these new constraints. The effects of a global quarantine and pandemic are almost certain to propagate to all companies eventually. But some are less affected than others, economically and operationally. We're fortunate in tech that it's still quite possible - albeit measurably harder - to get hired under current conditions.

mkagenius 7y ago
> 60-70% drop in hires compared to our original (pre-COVID) projections for the month what was your original projection
dickeytk 7y ago
60-70% drop meaning if it was 100 roles last month it's 30-40 this month?
- edouard-harris 7y ago
  Correct.
TAForObvReasons 7y ago
> SaaS businesses with predictable revenue streams and some degree of economic insulation from the "meatspace" economy Those are most likely lagging by a few weeks or a month. Monthly subscriptions are arguably the easiest to cut and companies are looking to cut non-essential services.

juliusx 7y ago

This project looks useful, but I don't see any conservative values. What if someone values monoculturalism?

farazbabar 7y ago
I hope we are not conflating conservative values with monoculturalism and you meant to ask about two different values. Also, as someone who has been at the receiving end of monoculturalism crowd, I hope they find enlightenment eventually.
deleted 7y ago
[deleted]

ykevinator 7y ago

Why are you hijacking his thing?

Peretus 7y ago
As the OP, I intended for this to be more about a discussion of the current market than my particular situation. While things just became quite difficult for me personally, and I would love the opportunity to make a connection that leads to another job due to this post, things have gotten much worse for many people all together. This individual's comment was insightful, helpful, and directly answered the question I asked in my post. Personally, I'm quite glad this person added their perspective.

deleted 7y ago

[deleted]