Wells Fargo Can Eat a Bag o’ Sh*t
Vegas, baby! Talking Velocity Global, Wells Fargo, California Pay Transparency, WorkReels and the Unleash Roundup, live from the Lobby Bar! Can you tell we haven’t been let out in awhile?
PODCAST TRANSCRIPTION sponsored by:
INTRO (1s):
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.
Chad (28s):
I'm go now. Okay, so we are recording and I am getting levels.
Joel (34s):
Check, check, check. Hello? Hello? Hello? Hello? Hello?
Chad (38s):
Okay. Give me a second. I tell Julia where I'm at.
Joel (40s):
Check, check, check. Snake. Slithery snake.
Chad (48s):
You look good. You look good. You look good, baby.
Joel (53s):
We're ready.
Chad (54s):
We are ready. Ready?
Joel (59s):
Oh yeah. We are alive from the lobby bar at the MGM Grand boys and girls. You're listening to the Chad and Cheese podcast. This is your co-host Joel "brain-dead and hung over" Cheeseman.
Chad (1m 12s):
And this is Chad "fueled by Maker's Mark" Sowash.
Joel (1m 15s):
And on this week's show, Velocity goes full velociraptor. Wells Fargo sucks and Tik Tok for recruiters. Just shoot me now, God. Let's do this.
Chad (1m 30s):
Oh shit, dude. This is fucking crazy.
Joel (1m 32s):
Maybe the most uninspired show will ever do this year. We are so dead at the end of Unleash. Oh, Lucky for you, our listeners we're going to record a goddamn weekly show.
Chad (1m 43s):
We're here for you. And let me just tell you kids, when you go back to live shows, I want to give you a little advice. Okay. You're going to be excited as fuck, which means your battery's going to run down much quicker, right? So just know you should probably try to schedule a nap in there somewhere.
Joel (2m 1s):
I've learned that conferences are a full contact sport. Like you have to be prepared physically and mentally for two to three days in Vegas for a recruitment conference. So we, you and I need to get back into conference shape because we are grossly grossly under physiqued for this thing.
Chad (2m 23s):
Under, under. What is going on? Breaking the news folks. Oh good. God. We just free drinks from Calm.
Joel (2m 30s):
A vendor just bought us a round of drinks. Sitting next to us, enjoying the podcast.
Chad (2m 36s):
Meditation app or why me? What is,
Joel (2m 37s):
Oh, wait, wait, here we go. Well, we'll give you two minutes to tell us about Calm. How does that sound? In return for the drinks? Give us the elevator pitch on call. Ready? Go.
Calm Spokeswoman (2m 50s):
Thank you so much, Chad and cheese for this amazing opportunity. And I hope you enjoy your drinks that I just brought over for you.
Chad (2m 57s):
You didn't get the cheapest.
Calm Spokeswoman (2m 58s):
I got you what you asked me the Makers need. Yeah. So Calm for Business is this amazing offering that we have taken our consumer brand and built it into a business brand. So employers can offer Calm to all their employees as a benefit to really help them be proactive about mental wellness and mental health. In the world that we're living in right now, tragedy and all sorts of awfulness everywhere that's impacting mental health and mental wellness of everyone in the workplace as well. And when you have people at work coming depressed, anxious, stressed, lacking, proper sleep.
Calm Spokeswoman (3m 40s):
That impacts productivity. That impacts business outcomes. So Calm is here to help employees and the world be proactive about their mental health and their mental resilience, in the form of listening to meditations, listening to sleep stories, listening to calming music,
Chad (3m 59s):
Is Kenny G on there? That's what I want to know.
Calm Spokeswoman (4m 1s):
Not yet, but maybe, maybe we can, we can get him there. Yeah. And I got to say coming from me, who's never really been into meditation. I'm obsessed with Calm. I am obsessed for it because I listened to the piano pop covers with my children at night. Oh my God. This is not a Kenny G commercial.
Chad (4m 20s):
Come on, Nina. Where can we learn more about Calm.
Calm Spokeswoman (4m 22s):
You can learn more about Calm by visiting calm.com.
Chad (4m 30s):
Calm.com
Calm Spokeswoman (4m 30s):
CALM.com.
Joel (4m 30s):
I love the domain. I love the concept and I'm smelling weed as she's giving that commercial. So I'm so relaxed right now. Calm everybody. Thank you for the drinks.
Chad (4m 40s):
Thank You for the drinks. Awesome. calm.com. That's right. And I feel much calmer because I got my calm drink. What? My, no, that's my drink.
Joel (4m 54s):
Oh. As I said, brain dead. Brain dead.
Chad (4m 56s):
I know. You're trying to steal my drink. That's what it was.
Joel (4m 58s):
We got the shout outs. Or do you have more to say about the conference.
Chad (5m 2s):
Shout outs to Calm for God's sakes, shout out to free fucking drinks..
Joel (5m 5s):
Shout outs to Calm everybody.
Chad (5m 6s):
That's nice. That's awesome.
Joel (5m 7s):
Calm in Vegas, good luck with that.
Chad (5m 11s):
Shout out to Mark fucking Coleman that dude and his team. Good guide Kate and Vicki and Paige. And I mean the list goes on, man. They worked their asses off for a great fucking conference. So shout out to Mark Coleman.
Joel (5m 28s):
Tall is Mark Coleman.
Chad (5m 29s):
Mark Coleman is 7'2"
Joel (5m 31s):
He's the Adonis of the conference world. Good Lord.
Chad (5m 33s):
That Irish accent. I mean come on. Just sexy.
Joel (5m 37s):
Oh come on. I'm in love. So dreaming, dreaming, and who else is dreamy? I'm going to give a shout out to Matt Alder.
Chad (5m 43s):
The British guy.
Joel (5m 44s):
The British guy. You know, he, we spent some quality time together. We connected across the pond. We went out for drinks. I had a Laphroaig Scotch. I ordered him a Blanton's mead, which he loved. So we're conquering borders. We're making amends for that British guy label. Matt Alder. Shout out to you, buddy. Shout out to you.
Chad (6m 11s):
Shout out to my wife who it's our birthday this weekend, right? You, you have to go back home because it's also your anniversary. Happy anniversary. My birthday is tomorrow. Julie. Usually my burn rate in Vegas is three days. We are here for six. Shout out to Julie for yeah. Making sure that I know how to marathon this shit as opposed to sprint. Now her, on the other hand, she's going to have issues.
Joel (6m 38s):
Yeah. What was her bedtime? The first night here?
Chad (6m 41s):
e:00 AM. She was at 3:00 AM.
Joel (6m 43s):
And for those keeping score that 6:00 AM on the east coast, which was the her bodily time zone at the time.
Chad (6m 53s):
Fucking hilarious.
Joel (6m 53s):
Shout out to Keith Sonderling you know, people will know him as the commish shout out to him for coming out to Vegas, coming on stage with us, giving us some EEOC knowledge.
Chad (7m 8s):
Love love.
Joel (7m 9s):
Rocking the house, bringing down the house, Keith Sonderling, great human being great EEOC commissioner, shout out to Keith Sonderling.
Chad (7m 19s):
Sonderling. Love it. Love it. Love it. Yeah. I'm reaching for shout outs right now my brain is that shout out to my brain for actually functioning at this point.
Joel (7m 31s):
Shout out to Terry Baker and the kids at Pandologic.
Chad (7m 36s):
Oh Damn.
Joel (7m 37s):
They pulled together an outstanding VIP event for an exclusive exclusive number of folks in the industry. They pulled out all the stops with a skeleton key to the event with get this a Chad and Cheese key chain. It was unreal.
Chad (7m 55s):
Never done before.
Joel (7m 56s):
Only way to do it with us as leather, leather binding.
Chad (7m 59s):
Chaps.
Joel (7m 59s):
But yeah, there is now a Chad and Cheese key chain. So shout out to the kids at Pandoqlogic and shout out to HireEasy as well.
Chad (8m 11s):
Higher, easy, not higher ease HireEasy
Joel (8m 13s):
Hirees, Not hirees Fans are taking pictures as we're doing the show. So excuse us if there's a,
Chad (8m 21s):
Groupies, we got groupies.
Joel (8m 21s):
Pause in the action. So shout out to HireEase a great dinner with some great friends,
Chad (8m 30s):
HireEZ
Joel (8m 31s):
HireEZ
Chad (8m 31s):
Joel's brain is also, yeah.
Joel (8m 32s):
This is, yeah. This is going to be a hell of a edit job for you, Chad. All right.
Chad (8m 37s):
Well, that's stayin' in...
Joel (8m 39s):
In, and last but not least, we got to mention it every week we got free shit. Chad.
Chad (8m 45s):
We do have free shit.
Joel (8m 46s):
If you like, if you like t-shirts.
Chad (8m 50s):
Free t-shirts, free beer, free whiskey.
Joel (8m 54s):
You got to go to Chadcheese.com. Click on the free link. We got t-shirts from Emissary, beer from Pillar and whiskey from our friends at Textkernel. What are you waiting for? Chadcheese.com/free. And Chad already mentioned his birthday little known fact about us born the same year. One day apart, he's May 27. I'm May 28 happy birthday to us. We're in Vegas. You'll still be in Vegas. I'll be back in Indy for the Indy 500 weekend. Happy birthday to us.
Chad (9m 27s):
Happy birthday to us. Topics!
Joel (9m 29s):
Topics. All right, we're going to do an Unleash roundup to start this thing.
Chad (9m 33s):
God damn.
Joel (9m 33s):
I've got three things that I want to mention about this show. Number one, and this has been talked about in every interview we did today. It's just good to be back. Human beings are social animals. The masks were off. The hugs were given. The hands were shaking.
Chad (9m 50s):
Yes!
Joel (9m 51s):
The elbows were rubbed. It was just great to get back and see people and interact. It was really, really nice.
Chad (9m 59s):
One word, baby! Energy. So much energy. When you go to a conference, generally, you feel like a little bit of energy when you're coming into the conference hall. I think, you know, when we did 2019 and we did 20 shows, it was more like, oh fuck right, man. We walked in, Joel, threw his arms up. Like he just won the fucking World's Series or something.
Joel (10m 24s):
So, so happy!
Chad (10m 25s):
So, so excited. Yes.
Joel (10m 26s):
The next comment is, I believe Unleash is a serious up and comer in the conference space in the US.
Chad (10m 34s):
No bullshit.
Joel (10m 34s):
Anyone in Europe will know Unleash, but they're making a full court press to make a big splash in the U S and I think that this show really catapulted them into one of those must attend shows in the US. While others have kind of faded over the last couple of years in COVID. These guys have survived. They're out for blood in the good, old red, white, and blue country. And I think that's worth mentioning in my shout outs. Yeah.
Chad (11m 3s):
Yep. And I'm telling you right now, dude, we talked about it with Mark survival, baby. Survival of the fittest. They were a one trick pony. When we entered the pandemic. Events only. They have broadened up. They were actually just like everybody in the pandemic, warp speed and their roadmap and the next thing you know, they are more than just an events company now.
Joel (11m 28s):
And by the way, Jamie Leonard take notes. If you don't think a European conference can make it in the U S Unleash is an example. So I'm talking to you RekFest.
Chad (11m 39s):
Of course.
Joel (11m 40s):
There's a circus tent in America with your name on it, to come to America.
Chad (11m 45s):
All the, like the arena, or like the outside venues and shit that you could do with Rekfest. And again, we have two entirely different conferences, which is awesome. Unleash, incredibly immersive indoors. Then you have RecFest outside. It's a party. But my God, it is, it is fucking exciting. I love those two shows. Yeah.
Joel (12m 11s):
And my last thing to note is.
Chad (12m 14s):
Yes.
Joel (12m 14s):
Dude, the Seth Rogan comparisons have got to stop. Additionally, the Jonah Hill comparisons have to stop. I can kind of stomach the Seth Rogan comparison. But to say that I look like Jonah Hill is just going too far. Spreading these lies and much like the COVID virus it's spreading and it needs to stop.
Chad (12m 32s):
It is.
Joel (12m 33s):
It needs to stop. And I'll end with that. I'll end with that. But it's been a great week. Love you Unleash. We'll be back. We'll see you in Paris in October.
Chad (12m 42s):
Right there. Nina found it. Thank God per Calm.
Joel (12m 46s):
We're doing Google image searches.
Chad (12m 48s):
God for Calm because they found the one that looks ex Jonah Hill looks exactly like Joel.
Joel (12m 52s):
But there are so many Jonah Hills. I mean, he's like a chameleon. I don't know which one.
Chad (13m 1s):
Okay. That's the Joel.
Joel (13m 7s):
At least Joe Rogan keeps it consistent.
Chad (13m 8s):
All right, what's next?
Joel (13m 10s):
All right. Let's get to velocity global.
Chad (13m 12s):
Good God. $400 million!
Joel (13m 15s):
The company announced that it raised $400 million in its Series B funding round.
Chad (13m 20s):
Series B?!
Joel (13m 21s):
B as in boy. Yes. Increasing the company's valuation sevenfold since the same time last year. Total raised is %500 million. Funds will be used to enhance customer experience and make further strategic investments in technology, sales and marketing, as well as potential future acquisitions. The Denver Colorado based company founded in 2014, counts more than 1200 clients and 7,000 supported employees worldwide. It has more than 700 employees and 47 countries and plans to more than double the number of employees by the end of the year. Chad Velocity has gone full Velociraptor.
Joel (14m 1s):
Your thoughts?
Chad (14m 2s):
That is fucking crazy. 400 million on a series B, right? I mean, you don't see that kind of cash spent on a B. I mean usually
Joel (14m 13s):
Hello, Remote.
Chad (14m 15s):
Yes. I mean, so again, you take a look at remote.com. You take a look at all these different organizations that allow you as an employer to hire easily, throughout the world, not just hire, but also they work as pretty much, your extension in those countries. Right? So had some great conversations today. I think most of them actually talked about Remote and how that is going to continue. Whether companies like it or not, it's going to continue. And $400 million, I think is fucking ridiculous. But I'm going to tell you right now, these guys can pull it off I think
Joel (14m 53s):
Much like Prince sang in the eighties. It's a sign of the times. Chad things have gotten a little bit off the rails. More pictures. How you doing? All right. So much love and so many fans it's just great! Look, this has turned into an arms race. Yes. Oyster, Deel, Remote, Velocity.
Chad (15m 12s):
It's crazy.
Joel (15m 12s):
How much money can go into this remote space? How many, how much blood is going to be spilled for the ones that don't make it? How many players can you have? Traditionally, you have about three players. You have Coke, Pepsi and Dr. Pepper.
Chad (15m 31s):
You have other smaller players.
Joel (15m 33s):
Other smaller players.
Chad (15m 34s):
Fanta still exists.
Joel (15m 35s):
Fantas still exist, but how much is too much? And how many who's going to survive, this is going to be a major talking point in the next year.
Chad (15m 47s):
Yeah. Here's what I think. Here's what I think we're seeing companies like Remote and then we also saw Rippling take a shit ton of cash. I think, again, my opinion, they are getting ready for that long, cold winter. As soon as this bubble bursts and valuations fucking drop. I mean, everything goes shit fucking crazy. They're going to have a war chest to get through it. So I only think that companies like Velocity, they're looking ahead saying, okay, we're going to need some capital to survive.