It’s a recruiters' market... or is it?

Big Tech talent drain is early stage startups’ gain, top benefits sought by today’s top talent   [view entire message](   'It's a really good time to be hiring' The Big Tech talent drain is early stage startups’ gain. That’s the sentiment among founders of tech companies that are hiring to fuel growth despite a souring global economy. “It’s a really good time to be hiring,” a founder of a fledgling relocation startup [told]( CNBC. Big Tech refugees find plenty of suitors Most laid off tech workers are landing jobs within three months of beginning their search, according to some surveys, and many much sooner. Still, others are taking the time to find the right fit. Experienced tech workers with [in-demand skills]( DevOps, customer experience, automation, product and platforms, data management, and cybersecurity—are finding plenty of suitors. Traditional companies outside of tech are [offering rich pay checks]( to lure talent that would have otherwise preferred working at Big Tech firms. That’s happening in Seattle, where JPMorgan Chase is beefing up engineering operations with talent that a few years ago might be laser focused on getting hired at Microsoft or Amazon. This shift could mean a [heyday for startups acquiring top talent]( that find themselves with the right mix of offerings that today’s top talent is looking for. According to a survey of 300 Wellfound candidates, the top benefits today’s tech workers seek are: Great compensation Remote work Work/life balance A team and/or manager I like to work with Could FAANG bust mean entrepreneurship boom? While job cuts reduce short-term employment in many places, experts say they also traditionally spur startup formation. “There is a strong connection between large layoffs and more entrepreneurship in general,” one Harvard Business School professor [told]( The Boston Globe. That could mean a refreshed talent pool for VCs like like Boston-based[NextVie]( which seeks to invest in teams who at Big Tech companies who might be stymied by spending cuts and looking for new opportunities. Recruiters, too, are feeling the pinch Not getting a prompt reply from a recruiter? You’re not alone. Recruiters are among the jobs highly impacted by layoffs over the past year. This could have an impact on diversity hiring, as recruiters often lead those efforts. "Someone looking to break in to tech for the first time should anticipate that it could be a long road," a fintech and healthtech recruiter [told]( Reuters. Though, for many companies, diversity will remain paramount. “Being a minority-owned business, we firmly believe that diversity drives innovation,” Jose Bethancourt, cofounder and CEO of Method Financial [told]( Wellfound. “We’re passionate about building a workplace that represents a variety of backgrounds, skills, and perspectives, which will enable Method to succeed.” [Refresh your profile]( What We're Reading - [Laid Off Tech Workers Quickly Find New Jobs]( (Wall Street Journal) - [Big Tech layoffs could generate wave of future startups]( (Boston Globe) - [Tech Talent Is Flooding the Job Market]( (Harvard Business Review) - [Big tech layoffs may further disrupt equity and diversity efforts]( (Reuters) - [What Tech Job Cuts Say About Silicon Valley—and the Rest of the Economy]( (Bloomberg) ^ Trending in Tech Top 10: [Sustainability]( Across the globe people and companies are more focused than ever on environmental issues and committed to achieving net zero. Startups disrupting the industry include Oren, Joro App, CO2ign Art, rePurpose Global, Kaiyo, HowGood, Gotham Greens, Gro Intelligence, Be Zen, and Bevi. Top 10: [Blockchain]( In 2022, blockchain and web3 went mainstream. The companies making the biggest impact include ZenLedger, Warbler Labs, Cypherock, Web3Auth, thirdweb, TipTop, Salad, Neco Finance, Questbook, and OpenSea. Top 10: [Fintech]( Fintech companies are shaking up Wall Street while helping Main Street companies compete with much larger competition. They’re also opening new opportunities for people to access credit and build financial independence. Companies like Cushion are trailblazing the effort to eliminate banking fees, while Method Financial is helping people pay off debts easily with an embedded banking platform. [Check out the top startups trending now]( From the Founder: Lisa Love, Tanoshi "I knew if I was going to work hard, then I might as well work hard for myself, doing something I truly believe in." In this From the Founders interview, we hear from Lisa Love, co-founder of Tanoshi, an edtech startup that builds computers for kids in underserved communities. We discuss Lisa’s upbringing with a mom as an educator and a dad as an engineer and how she started her company from a pitch competition. [Read the full interview]( In the news San Francisco-based [Hatchfi]( a one-year-old crypto integration platform, raised $1.2M in early funding from Jude Gomilla, Delta Blockchain Fund, OrangeDAO, and angels. The company plans to hire engineers to help with integrations, data quality, infrastructure, and security. San Francisco-based Tribes, a Web3-native messaging app, raised $3.3M in early funding led by Kindred Ventures, South Park Commons and Script Capital. The company’s software allows crypto consumers, creators, communities, and DAOs to collaborate. New York-based fintech [Sandbar]( raised $5M in seed funding led by Lachy Groom and Abstract Ventures with participation from BoxGroup and angels. The company develops anti-money laundering, fraud, and counter-terrorism risk detection software to help companies scale safely. London-based farmtech and Y Combinator alumnus [Entocycle]( raised a $5M Series A led by Climentum Capital. The round also included international athletes including a World Rugby player of the year and an Olympic handball champion. The company’s tech converts organic waste into high-value insect proteins, fats and fertilizers. Los Altos, Calif.-based cybersecurity startup Cygnvs raised a $55M Series A led by Andreessen Horowitz with participation from Stone Point Ventures and EOS Venture Partners. The company will use funds to build out its guided crisis response platform and expand sales. 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