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They were overhiring. I talked to their recruiter last year. They had pretty aggressive hiring goals. Same story with Zillow, Upstart, Facebook and a bunch of c

They were overhiring. I talked to their recruiter last year. They had pretty aggressive hiring goals. Same story with Zillow, Upstart, Facebook and a bunch of companies. All of their stocks tanked by more than 50% since then.

ryandrake 4y ago
Why would a business even have a "hiring goal?" Shouldn't you have business goals, and then look at those business goals and determine if hiring will contribute to them? Having an isolated "hiring goal" seems as pointless as having a "printer buying goal".
- jjulius 4y ago
  >Why would a business even have a "hiring goal?" Shouldn't you have business goals, and then look at those business goals and determine if hiring will contribute to them? Sure! So, you've got your business goal(s), and within those goals you have sub-goals that achieve the main goals. One of your primary goals requires additional headcount, which then necessitates that one of your sub-goals is... wait for it... a hiring goal.
- roflyear 4y ago
  Bro, Apple makes like $2m or something per employee. They can hire a ton of developers to do whatever at like $300-400k/yr. It's win-win. They have talent, they keep talent from other people. Apple is at the extreme, but the logic applies. There are massive budgets, so what do you do? You hire. Startups do this, too. Give an engineering team $20m (or $200m....) and they will hire a lot of people. They aren't just going to sit on the money...
  - quickthrower2 4y ago
    Funny. You could kill a company with too much money because they hired people they now need to spend time to manage. Instead if doing the thing.
    - roflyear 4y ago
      I've seen it happen first hand.
- downrightmike 4y ago
  Hiring people so that your competition can't is a business tactic, not a smart one going into a recession, but worked for decades for FAANG
  - quickthrower2 4y ago
    Surely only works for the biggest companies. You would need to hire millions of people to drain the global pool of developers. Maybe thousands to drain the best ones intersect US working rights.
- conductr 4y ago
  Goals can change. Especially when your stock price gets cut in half and a recession is imminent. Even in the world of StableCo annual budgets, by the time the budget is approved, I guarantee it reflects a number of goals that have been recently axed. Or, in times of growth, there’s other goals that have come up and claimed some resources that technically were earmarked for something else. Budgets and goals are fluid. Also hiring goals are useful for measuring activities. They have an HR/talent acquisition team and that team needs goals. How would you frame those goals if not hiring? And , unfortunately, printer purchases is a real business goal if your the guy responsible for purchasing printers.
bushbaba 4y ago
Twilio is down 50% from their pre covid price. Ouch

ryandrake 4y ago

Why would a business even have a "hiring goal?" Shouldn't you have business goals, and then look at those business goals and determine if hiring will contribute to them? Having an isolated "hiring goal" seems as pointless as having a "printer buying goal".

jjulius 4y ago
>Why would a business even have a "hiring goal?" Shouldn't you have business goals, and then look at those business goals and determine if hiring will contribute to them? Sure! So, you've got your business goal(s), and within those goals you have sub-goals that achieve the main goals. One of your primary goals requires additional headcount, which then necessitates that one of your sub-goals is... wait for it... a hiring goal.
roflyear 4y ago
Bro, Apple makes like $2m or something per employee. They can hire a ton of developers to do whatever at like $300-400k/yr. It's win-win. They have talent, they keep talent from other people. Apple is at the extreme, but the logic applies. There are massive budgets, so what do you do? You hire. Startups do this, too. Give an engineering team $20m (or $200m....) and they will hire a lot of people. They aren't just going to sit on the money...
- quickthrower2 4y ago
  Funny. You could kill a company with too much money because they hired people they now need to spend time to manage. Instead if doing the thing.
  - roflyear 4y ago
    I've seen it happen first hand.
downrightmike 4y ago
Hiring people so that your competition can't is a business tactic, not a smart one going into a recession, but worked for decades for FAANG
- quickthrower2 4y ago
  Surely only works for the biggest companies. You would need to hire millions of people to drain the global pool of developers. Maybe thousands to drain the best ones intersect US working rights.
conductr 4y ago
Goals can change. Especially when your stock price gets cut in half and a recession is imminent. Even in the world of StableCo annual budgets, by the time the budget is approved, I guarantee it reflects a number of goals that have been recently axed. Or, in times of growth, there’s other goals that have come up and claimed some resources that technically were earmarked for something else. Budgets and goals are fluid. Also hiring goals are useful for measuring activities. They have an HR/talent acquisition team and that team needs goals. How would you frame those goals if not hiring? And , unfortunately, printer purchases is a real business goal if your the guy responsible for purchasing printers.

bushbaba 4y ago

Twilio is down 50% from their pre covid price. Ouch