We wish there was a way to automate these ridiculous podcast episode descriptions, but until then, we'll have to be content with talking about recruitment automation. Most notably this week:
Two automated scheduling startups got (additional) funding.
Another big data solution made it to unicorn status.
Stimulus checks aren't the problem
The US Chamber isn't letting a good crisis go to waste.
and TikTok ends the week with industry folks lining up to give the social media app an unwarranted tongue bath.
PODCAST TRANSCRIPTION sponsored by:
`Hide your kids! Lock the doors! You're listening to HR’s most dangerous podcast. Chad Sowash and Joel Cheeseman are here to punch the recruiting industry, right where it hurts! Complete with breaking news, brash opinion and loads of snark, buckle up boys and girls, it's time for the Chad and Cheese podcast.
Oh yeah. Coming at you from the home office in beautiful majestic Cleveland, Ohio, what's up boys and girls? It's your favorite podcast AKA the Chad and Cheese podcast. This is your co-host Joel "mistake on the lake" Cheeseman. And this is
Chad "I'm sounding silky smooth" Sowash.
Well Indeed on this week's show more funding flows into startups, maybe the extra unemployment wasn't the problem? And TED talk is here to save all our asses. Thank God. No thank God.
JobAdX (1m 2s):
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JobAdX (1m 48s):
That's J O B adx.com/get-started-today.
Joel (1m 53s):
Cleveland's beautiful. This time of year, isn't it? Oh
Chad (1m 56s):
My God. It was hot as fuck yesterday today. Jesus, what the hell? Luckily we do have the, the, the breeze off the lake. That was, that was nice, but damn it was hot.
Joel (2m 6s):
A little humidity that might've been due to the giant storm that was coming through and disrupted our baseball game that was not played, which makes me very sad. But we had a good time with our friends. So why are we in Cleveland Chad?
Chad (2m 21s):
We're in Cleveland to visit with our friends over here at Evergreen. Evergreen podcast and we're building out the HR channel with a bunch of podcasts. You all know and love, you know, the Matt Alders, you know, the Crazy and the Kings, Jim Strouds and we got more podcasts coming, adding to the channel. So we're
Joel (2m 43s):
How many podcasts there are and employment who knew there was so much fricking content. Oh, well, let's get to shout outs. So I'll start with just Cleveland hospitality. The city has treated us very well. Similarly to Chicago last week, and a shout out to all the folks at Evergreen and especially super chef Michael Simon. We had some Cleveland barbecue. Yeah. It's actually a thing. If you're in Cleveland, head to fourth street. Yep. And check out Mabel's barbecue.
Chad (3m 13s):
Joel (3m 15s):
Order the ribs beer
Chad (3m 16s):
Great beer on tap. Oh, it was amazing. It was amazing. And as a matter of fact, Steven you should take Faith there for her birthday. Take her to take her to Cleveland. Happy 29th birthday Faith. That that's something that makes sure that the Steven does. Okay? Mabels.
Joel (3m 33s):
Oh, I can feel the love now. Walks by the lake, head to the Rock and Roll Hall of Fame.
Chad (3m 40s):
Yeah. That'd be a nice trip.
Joel (3m 42s):
Go see the Christmas Story House, that's a highlight for me. Shout out to Axios. I don't know if you saw this in the news, but the web property that you probably know for simple brief news, it's also thoughtful is going local. They're coming to a local market near you and they're bringing job boards with them.
Chad (3m 60s):
Joel (4m 0s):
Yes. Job boards are back in the Axios network. Not exactly sure how this will work? The it's spotty. It's spot in best the exact roll out of this, but we'll be watching. Yeah. Everyone thinks just slap a job board on it and it's going to be boats and hoes and champagne and cocaine. We'll see Axios. We'll see.
Chad (4m 23s):
Gotcha. You can't just put a ring on it, baby. You just can't put a ring on it. Shout out to European show. Number two. That's right. Kids, Joel and Lievin and myself were actually joined my Adam Gordon. That's right the mad Scott himself. And he was mad because Scotland was kicked out of the tournament. Not to mention also really pissed off that England beat Germany. Two-nil. Yeah, that was, that was not a great day for Adam
Joel (4m 51s):
My ancestry DNA profile says I should be rooting for England. So I guess I'm semi glad that they won. Surprised that France lost. I had been watching the final 16, which is pretty interesting. That was a shocker, I guess.
Chad (5m 5s):
So Mbappe, who was like the world cup, he was like the star for France. Right. And he just could not find his groove. He had plenty of shots on goal. He missed that last penalty shots. You know, they went into extra, extra innings. I guess you could say missed the penalty shot. I mean, that kid right now, he's gotta be on suicide watch.
Joel (5m 26s):
How do you feel about the penalty shot? Are you for it, against it? Do you say, Hey, just let him, let him play until they die. Do you like you like you like the shootout?
Chad (5m 33s):
Yeah. I do like shootout. I, I think that, that adds some excitement not to mention they've already played what, you know, at that point they'd they'd played like three hours.
Joel (5m 41s):
Chad (5m 42s):
So it was like, fuck man. So yeah, no, I dig it. Yeah.
Joel (5m 45s):
I think I'm a sudden death kind of guy. I like, just play until you're dead. Somebody is going to score at some point. So anyway, so what do we got? We got England. We got Switzerland?
Chad (5m 59s):
Joel (5m 59s):
Chad (5m 60s):
Italy. Belgium and Italy are actually playing.
Joel (6m 3s):
You're in Italy. You're a fan of Italy. You think they could a surprise a lot of people.
Chad (6m 6s):
They're young. They are incredibly talented. Belgium is obviously their number one team in the world, but I think Italy has a chance, but whoever comes out of it, they don't have to play France. So the left side of the bracket just got easier,
Joel (6m 22s):
Young and talented. You kind of described our show in describing Italy's soccer team. Shout out to a free shit. We're at the end of the month, we're going to name a winner for some free whiskey and beer here soon.
Chad (6m 35s):
Joel (6m 35s):
If you haven't headed to Chadcheese.com/free, we got t-shirts by Emissary. We got beer by Adzuna and we got whiskey by our friends at Sovren. So if you haven't done that yet, go out and do it.
Chad (6m 49s):
Cheese.com/free. Not to mention, also reach out to us on social media, LinkedIn, Twitter, hashtag Chadcheese. We enjoy hearing the feedback, stories and whatever you guys got to say. So like it, hate it. That's awesome. Just hit us on the socials.
Joel (7m 6s):
Yup. Yup. You mentioned Faith who celebrated a birthday recently? We got some other birthdays coming up. China Gorman. Oh, we're good money on Vegas. Vegas has opened up. So maybe she'll do it up there out on the strip. Also our buddy and fan of the show, Josh Akers celebrates a birthday July 2nd.
Chad (7m 25s):
He's gonna be 60 isn't here?
Joel (7m 29s):
So I don't know if we should be talking. I don't know. I don't know. Young and talented only goes so far.
Chad (7m 35s):
Oh, let me go ahead, ahead and pivot over to a shout out to Amazon. No shit, Cheeseman. I'm shouting out to Amazon who acquired Art 19, a podcast distribution and monetization platform. Last week we talked about Spotify, Facebook, Apple going hard into podcasts. I mean, this is the medium right here, baby. And now, you know, it is because Amazon is getting into this shit.
Joel (8m 2s):
Sorry. You were shouting out to Amazon? Did I dream that? I had a little bit to drink last night. I'm not sure what the hell is going on. This must be, yeah, this is the hangover. Shout out.
Chad (8m 14s):
I might have to ask Dave or engineer to get me a bucket. I had way too much to drink.
Joel (8m 18s):
If you go home and there's an Amazon box at your door, be, be very careful. Be very careful.
Chad (8m 23s):
Have my neighbor open it.
Joel (8m 25s):
Let's get into some topics. Shall we, oh man, holy shit. The money is flowing. Damn like the whiskey last night. All right. So we'll start with the high dollar beneficiary of some money. So Canada based HR software startup Vizier. Did I say that right? I think so has raised 125 million in series E funding bringing total funding to 216 million and valuing the company at unicorn alert $1 billion. That's B B B billion. Goldman Sachs asset management led the round and was joined by investors, including Sorenson Capital, Foundation Capital, Summit Partners, blah, blah, blah, found in 2010.
Joel (9m 11s):
The company has built a big data engine to ingest ingest. Yes, this is the company's language, not mine and analyze information from disparate human resources and related applications to develop more accurate profiles of people and departments.
Chad (9m 27s):
Joel (9m 28s):
Places like Workday. They plug their shit in and get the data useful when considering, remuneration, promotions and wider hiring budgets. The solution that Vizier provides is a big data engine, again, that has built a, that can connect with a variety of platforms. Actually, I just talked about that. So what do you think about Vizier, Chad? I assume you'll edit that last part out more big data. Remember we talked about Apna who did something very similar everyone's into the data.
Chad (9m 57s):
So this is a messy, messy business, but making sense of the data from multiple systems, it's something that is not easy. And obviously they need a shit ton of cash to be able to make it happen. And this is, this is a workforce data management play, but they're also spinning this into business analytics. So I think it's much smarter to go at the business side of the house than just focused on HR. It's all business. It's what we can do to retain better production, better output who needs to, you know, hit the bricks and then also on the talent side. So I think these guys, the way that they're looking at this platform, isn't what we're used to because everybody tries to focus heavily just on the HR piece and with taking this much money, there's no way in hell an applicant tracking system or any of those platforms are going to buy them.
Chad (10m 52s):
Right. They need, they needed behemoths fucking system buying them, or they just need to integrate with everybody. So yeah, this is, I think this is an interesting, an interesting platform. It's all analytics, the SAP or Oracle by them.
Joel (11m 8s):
Yeah. A lot of this trend is the work from home thing, like big brother, AKA, your employer wants to keep tabs on you. And this is a way to do that. And if they can track your work and what you're doing and success rates, then it makes their job a lot easier. If they're not breathing down your neck all the time with you in the office. I do love the fact that they're branching out into other other industries. I think all they need to do now is slap on Amazon's automated firing software and they don't even need an HR department. It'll just handle everything for it.
Chad (11m 43s):
Yeah. I don't know if you know or not, but that didn't work very well for Amazon? They do have more than 12 million employee histories across 75 countries loaded into the platform. So the thing for me is I wonder how much money they're actually spending in on the cybersecurity side of the house? Because a lot of the data, like if you're in an applicant tracking system, you're not getting social, right? For the most part, you're not getting, you're not getting data that is really sensitive. This is going to be sensitive data. They're going to add all these different streams, so they need to lock this down pretty hard. Overall though, it's a big fucking payday for them.
Joel (12m 23s):
Big data payday if you will.
Chad (12m 25s):
Joel (12m 25s):
All right. Scheduling, who knew, who knew? So Good Time firing squad alum, you said it was our second firing squad. We were going down memory lane last night. Okay. Is firing squad Good Time added 9.5 million to its series a funding bringing the total round to 16.7 million. I'm guessing they had to hit some milestones before they got the rest of the money. The San Fran based company intends to use the funds to accelerate the innovation for its hiring slash candidate experience solutions and go to market growth in a wide range of industries, talent acquisition teams at Zoom, Instacart, and Dropbox among others use Good Time to reach savings and hiring expenditures.
Joel (13m 9s):
The company was founded in 2016. Automated scheduling? It sounds like a feature to me, but maybe this is a fucking product?
Chad (13m 16s):
Yeah, no, this is a feature. This is not a product. The thing that I can't understand is how they are jamming DEI into this. You're seeing diversity, equity, and inclusion on everything much like you saw AI, like two or three years back.,
Joel (13m 30s):
It's on their PR?
Chad (13m 31s):
Yes It's on their PR, it's on their website and it's like, scheduling will help you with your DEI. Where's the fucking correlation here? So again, I think there's a lot of reaching going on, but this is a lot of money for a scheduling tool.
Joel (13m 47s):
Yeah. Yeah. And they don't reveal much in terms of it being anything beyond scheduling. I know that this is an incredible challenge for companies, but if I'm Good Time and sell this shit now, because this feature is being built into every chat bot, a lot, ATS is CRMs. They're closing in on the point where nobody wants it because they can build it themselves.
Chad (14m 14s):
They might've just taken too much money. They might've just priced themselves out of actually getting acquired because they took more money. And because they are a feature, they're not, this is not a platform.
Joel (14m 23s):
Yup. Yup. You know, they say most companies don't die because they have too little money. They die because they have too much money.
Chad (14m 31s):
Joel (14m 32s):
Good Time we'll be watching. Well, there's another scheduling software out of San Francisco. Oh my God. Prelude maker of hiring software raises 1.2 million in seed funding so they're like Good Time five years ago. Fuel Capital Jack Altman, Sam Altman, and Elad, Gil invested, formerly known as Interview Schedule. The company looks to make scheduling job interviews a little easier. Founded in 2017, the company has now raised 2.4 million to date according to founder and CEO Will Loffor. The company decided to rebrand because it hopes to do more than just scheduling. At least they've got a clue on that. And the company is looking to grow the platform to handle everything from initial email, outreach to a candidate, to the actual hiring process.
Joel (15m 21s):
Chad (15m 22s):
So a quote from the prelude CEO, he said there is no tool in the market, he sees, that specifically targets the scheduling and logistics issues, recruiters and candidates face. Does he have his eyes closed? I mean, this is baked into a lot of platforms already.
Joel (15m 43s):
Chad (15m 43s):
We just talked about Good Time, right? I mean, how can you say this? There's no tool like this in the market. It's actually this young. I mean, it's not like he's got a real verbose toolset.
Joel (15m 57s):
Yeah. He needs to get really comfortable with the word niche or niche. However you want to say it, they need to go big time into healthcare or industrials or you name it. They need to be really good at a certain vertical. And I think about our buddy at Apple Chat, Adam, who started as a really broad vision and now just as healthcare and apparently does a really good business, just doing that. So if I were advising Prelude, which I'm not, I would say, I would say, go niche, boys and girls.
Sovren (16m 31s):
You already know that Sovren makes the world's best resume CV parser, but did you know that Sovren also makes the world's best AI matching engine? Only Sovren's AI matching engine goes beyond the buzzwords. With Sovren you control how the engine thinks with every match the Sovren engine tells you what matched and exactly how each matching document was scored. And if you don't agree with the way it's scored the matches, you can simply move some sliders to tell it, to score the matches your way. No other engine on earth gives you that combination of insight and control. With Sovren, matching isn't some frustrating "black box, trust us, it's magic, one shot deal"
Joel (17m 34s):
How's your hangover doing?
Chad (17m 36s):
I need more water.
Joel (17m 37s):
Chad (17m 38s):
Dave do we have an IV? Is there an IV around?
Joel (17m 40s):