Jobs, Jobs, Jobs

Jobs seems to be all that Washington wants to talk about right now. And for good reason. A lot of people are out of work. And incumbent Presidents don't often get reelected when 10% of the workforce is out of work. I've said my piece on that whole thing already. I'm not looking for Washington to solve the jobs issue. I'm looking for entrepreneurs to solve it. And they will in time.

One thing entrepreneurs can do is to make it easier for people to find a job. And we have a company in our portfolio that does exactly that. It is called Indeed and is located in Austin, TX and the Stamford, CT.  We've been investors in Indeed for five or six years now. And it is one of our best investments by any metric you'd want to use. We love the Indeed team, the Indeed product, and the Indeed mission, which is to make it easier for people to find jobs.

Indeed's job search is used by between 30mm and 40mm people worldwide every month according to comScore. That's a lot of people looking for work. If you haven't used Indeed's job search, you should check it out. It's by far the most popular job search in the world.

Today, Indeed is launching a new service called Indeed Resume. They posted about it on their blog. It works just like Indeed job search. What and Where. That's it. But it returns resumes instead of jobs. So it's search built for employers instead of employees. I really like the way they showcase the resume in the right rail when you hover over a search result, like this:

Indeed resume screen shot

If you'd like your resume to show up in Indeed Resume, post your resume here.

We can sit around arguing about how to solve the jobs issue in this country or we can do something about it. I'm happy to see some entrepreneurs doing something about it. And making money along the way. That's the way out of this jobs mess.

#VC & Technology#Web/Tech

Comments (Archived):

  1. David Noël

    Timely post, will try it out!Stumbled upon last night and thought it was a neat alternative to the good ol’ CV. After tweeting about it, I actually received a first application with a vizualized resumé.If Indeed and have API’s, they should consider finding a way to integrate. Would make the experience on the receiving end of an application so much more pleasant.  Update: love the quick preview on Indeed’s resume search. #timesaver



      1. Sebastian Wain

        For the major part of web APIs, the distance between the word “Open” and the word “API” is huge. I can say that there is an illusion of open APIs. Since this is a topic I really like I’ve written some rants about it, good to share here: Google Search NoAPI.

  2. reece

    i had dinner with a more seasoned entrepreneur/CEO last night and we were talking about the economy/hiring etche said he’d recently interviewed a ton of graduates from great schools (Princeton was his example)… but when asked what the unemployment rate is, their answers were “it’s bad…” “i dunno” and “20%?”scary

    1. Zach Aysan

      Unemployment is a squishy term. It doesn’t include people that have given up looking for work or people that are very underemployed. If I had to flip burgers to make rent I’d consider myself only an inch above unemployed because I’d previously made 10x that. So I can understand why they say 20% when the quoted figures are just under 10%.

      1. JLM

        Look at the US BLS (Bureau of Labor Statistics) U-6 which is the most complete estimate of unemployment — 19.6%.U-6 attempts to capture the worker who is working 2 days part time because he cannot find a full time job and the nuclear physicist who is working as a bookkeeper while looking for a job — I am not sure I trust the way they estimate those phenomenon but they are trying.U-1 is the estimate — and remember it IS an estimate — which is most often used but it does not include folks who have exhausted their unemployment benefits, folks who have been looking for 18 months or longer, recent college/HS grads and Vets leaving the service.You have to dig a bit to understand the preceding paragraph as it is not as clearly written as noted above.One in 5 of our countrymen is looking for a job.My heart breaks for any person who cannot find a job. It is devastating.

        1. Guest

          I shared this the other day with someone when you mentioned U6 rate. Here is same link (should be same) from BLSU1-U3 does not tell the whole story folks.

    2. Parkite

      funny and scary.  i just heard on NPR this am that SAT scores hit an all-time low and only 43% of high school students are considered to have met the minimum threshold to enter college.  the farm team (future talent pool) does not look promising.

      1. guest

        High school students who belong in a factory are now attending college. So the issue is NOT talent pool. The issue is OVER education.  The upper class (i.e. upper east-siders, prep-schoolers, et al), our future doctors, engineers, and business leaders, are performing quite well on the SAT. In fact, it’s probably too competitive…

        1. JLM

          The US does not need one more English degree given the weak market for poets.We need engineers and vo-technical grads who can become immediate taxpayers. 

          1. Dave W Baldwin

            This is true.  Our bigger danger is the middle grades because once they’re tossed from the bus, they won’t make it back.And to Guest, above, not really that impressed with the supposed A (farm) team for they suck at critical thinking big time.

          2. guest

            To say that ALL of our future doctors, lawyers, engineers, and business leaders (the supposed A team) suck at “critical thinking big time” is simply a silly assertion made with little critical thought

          3. Dave W Baldwin

            @877c2f48bc47a355e288b4274a5ea888:disqus I didn’t say ALL, just as presuming the lower people are not ALL dumb.Otherwise, to suggest they ALL are so proficient lowers the bar needed.

          4. guest

            I come from the “lower people” (public schooling, 1st generation college educated, and so on) so I definitely wasn’t calling my fellow brothers and sisters dumb. I just think there are a lot of people who attend college not because they want to, but because society tells them to.

          5. Dave W Baldwin

            Ha! Then you know it is all about hard work! Now, I’ll second your premise regarding the attending college due to society saying so. I joke that when I was in HS during the end of the 70’s, graduating in ’81, it seemed better to go to college than enter real world ;D. Keep pushing!

          6. guest

            Come on @JLM:disqus , you’re better than that! http://www.huffingtonpost.c…

          7. JLM

            There is more than enough travail to go around for all including recent engineer grads.In the long run, we need to reverse the trend from declining engineering majors.My heart breaks for recent grads looking for work who do not even show up in the stats.

          8. Carl J. Mistlebauer

            I have to be careful here, I actually graduated with a double major, metropolitan studies and creative writing and then I went on to add insult to injury by getting a masters degree in political science.Even I cannot figure out how I got from there to here….Or how my first job was with a construction company in Saudi Arabia, working for ARAMCO only to end up in tee shirts?….and reading AVC daily!  🙂

          9. Dave W Baldwin

            Think I’m seeing word “Masochist”

          10. Carl J. Mistlebauer

            Dave, as I look at it some people are careerists and others are opportunists…some folks have skill sets and others have mind sets.Whenever a young person asks me for career advice I tell them to follow their passion….which always gets me a blank stare.  

          11. Dave W Baldwin

            Good one  ;D

          12. Peter Beddows

            Small world Carl: I remember ARAMCO in Saudi Arabia! Lots of “fun” for brief stay working in Rhyad.Particularly even more “fun” getting equipment through customs where head customs officer was more interested in smoking a hooker. But leaving the country was possible only by slipping some baksheesh into passport. 🙂

          13. Carl J. Mistlebauer

            You were in the big city…should have seen what it was like out in the Northern Province (especially at Ras Tanajib!) Baksheesh, that wonderful “grease” that makes the world go round and in the basis for “get’ er done!”

          14. Donna Brewington White

            Production is good, but we also need people who can think. Otherwise, someday other countries will be outsourcing their grunt work to us!

  3. RichardF

    This is tomorrows post.

    1. fredwilson

      what is tomorrow’s post?maybe disqus ate a link?btw – i much prefer the styling on the disqus ratings they have moved to

      1. RichardF

        I agree I like the new styling , although shame about your loss of the “bartender” and surely your rank should just be “Top” not “Top 1”  Actually just “Number 1” would be better imo (particularly as a Bond fan)Tomorrows post should be about Wattpad methinks. I think with all USV future investments it should be included in the term sheet that new features of portfolio companies are only to be released on Fridays. Today’s post was a “feature friday” post

        1. fredwilson

          i didn’t notice that i lost bartenderi will complain to the boss about that

          1. RichardF

            maybe it’s a new gamification feature and you lost the badge 😉

          2. Carl Rahn Griffith

            Barista, surely? 😉

          3. andyswan

            As long as you still serve pappy….

          4. Carl J. Mistlebauer

            I just posted my 100th comment and I was expecting confetti and I got nothing……

          5. fredwilson

            Disqus needs some voice!

          6. obscurelyfamous

            As of yesterday, you can change it to whatever you want it to say. I sent you an email about it so I won’t do it for you.Let me know if it doesn’t work. 😉

          7. FAKE GRIMLOCK


          8. fredwilson

            hmm. i missed that emailignore the one i just sent you

          9. Peter Beddows

            I think we may have uncovered another bug. Look for my reply to @donnawhite:disqus  in response to her question showing up as — followed by a repost of the lost question just a few minutes ago.

        2. Donna Brewington White

          I like the new styling too.Yeah, Top 1 is not doing it for me, either.  Redundant.And I agree that Wattpad is pretty doggone interesting from a disruption standpoint. (I also have some personal interest…actually wrote a novel several years ago and have been wondering what to do with it…)

          1. RichardF

            I replied to you yesterday via email Donna but obviously Disqus decided to eat it.I think you should publish on Wattpad, what sort of novel is it?

          2. Donna Brewington White

            And I replied to you via email.  Let’s see if it turns up.

  4. mattb2518

    One thing I worry about is that – while it’s entrepreneurs who create jobs – that often in the tech sector, we are just stealing otherwise employed people from other companies.  That doesn’t help solve unemployment, or at least it doesn’t help in the short term (there has to be an awful lot of trickle down for that to kick in).  We’re contemplating working on some kind of job retraining program for entry level roles to help people who are unemployed, and perhaps seemingly unemployable, find work.  I’m curious to know if anyone else in the AVC community (either investor or entrepreneur) has done or considered doing something like that.

    1. RichardF

       great idea Matt.  I hope you implement that.

    2. Anne Libby

      Being willing to train people coming into your company puts you into a rare category.   Startups and smaller firms have targeted needs, right now, and want people to hit the ground running; larger firms seem to invest more in so-called “high potential” employees.   Bravo.Most of your employees probably have friends and family who are out of work.   When you’re ready to hire, by reaching out into your own workplace community you give them an opportunity to help people in their extended community.   (The job market’s answer to an old fashioned barn raising.)  Even if it means training/re-training, it’s a win-win-win situation and a good investment all around.(A recent article referencing the value of employee referrals:

    3. andyswan

      It absolutely solves unemployment.  A net new job is a net new job.  Startups would be wise to avoid hiring anyone collecting unemployment.

      1. Guest

        I hate to post and run but I have an early morning meeting. Matt was not talking about net new jobs rather poaching existing talent Startup B now has a chair filled but Startup A now does not.I am sorry Andy but in my opinion that is just poisonous thinking on your part. Folks may be unemployed for any number of reasons. It does not mean they are not good people/employees nor does it mean they do not bring skill sets to the table. Some folks may not want to start a business during their unemployment period – that could be a result of any number of factors, including a wisdom on their part they cannot or do not want to do it.{Updated}

        1. andyswan

          So then Startup A needs to make a hire, do they not?  Net new job.I am fully aware that potentially great employees may exist in the “unemployed” category.  There are also tons of people that aren’t employed because they weren’t the best at what they do.But as a startup, you don’t really have the resources or expertise to figure out which is which.  And you sure as hell don’t have much cushion take any risk trying to figure it out.You get BEST Available Talent, every single time.  You poach and pay up.  You hire self-starters that win a lot.  

          1. ShanaC

            The BEST available talent FOR THAT POSITION could be unemployed currently.  Many people thrive under very different conditions.

          2. Dale Allyn

            I agree with you, Shana. I’ve seen it, but it depends on the scope of such a conversation (I accept Andy’s point for some sectors or jobs). When I read your comment I was thinking in a broad sense and know it’s true, but when I’m looking for a talented and dynamic software engineer (for example) I don’t expect her/him to be unemployed. People are unemployed for different reasons and it makes sense to look at all who may fit.

          3. ShanaC

            I am friends with software engineers, programmers of all striped who have been out of work at various times for upwards of a year. Dynamic, talented programmers…I think the truth is more complicated.

          4. Dale Allyn

            Shana, I think we agree more than disagree. You wrote “I am friends with software engineers, programmers of all striped who have been out of work at various times for upwards of a year. Dynamic, talented programmers…” (disqus limit doesn’t allow me to reply to that post). I agree with you and was not intending to oversimplify. I tend not to comment much because most things deserve more discussion and sound bites can leave others with the wrong impression. Sorry for being incomplete or vague.I, too, know people who are fantastic at what they bring to a project, who have been unemployed at times. I did not mean to suggest that software engineers should only be considered if they’re employed. One may be unemployed because of wanting a break from a larger company, willing to wait for that special new startup, etc. I’m looking at one such person now who is in fact just recently unemployed because the non-profit he was working for has closed its doors. He went to work there from a previous position at a prestigious brand because he wanted to do something in the charitable space. Then they (for reasons beyond his control, not his responsibility) lost sufficient funding to continue. That’s just one example. My agreement with Andy has more to do with an idea that if you have a chance to get someone who is doing what you need, is killing it where s/he is working now, and would be a good fit for your company, it can be a safer hiring approach if you can get them. edit: typos

          5. Donna Brewington White

            What you are proposing helps to maintain a more capitalistic employment market, which personally I embrace.  Competition in the employment market is a good thing for all the reasons that it is a good thing in the economy overall. (I’m especially thinking about the incentive and accountability it creates for companies to create attractive employment environments.)But on a purely practical and micro level, the reasons you give for a startup to just focus on hiring the best people possible is a strong argument.  It is intense work to truly assess someone’s capabilities and fit — and the rule of thumb in recruiting/hiring is that the candidate’s past performance is the best predictor of future performance.  There are nuances that might allow other considerations to be factored in but you have to be pretty seasoned at hiring to pull this off.@mattblumberg:disqus ‘s company has the traction and the cushion to  “give back” on a larger scale than a more fledgling company — and even then he is talking about entry level jobs which generally represent a less competitive segment of the employment market and a less critical hire for the forward movement of your company.  Still, it’s commendable!

        2. Donna Brewington White

          This market and right after the dot-com bust are two times when I have seen the caliber of people on the street that ordinarily employers needed the help of a recruiter to lure away from other companies.  But, even in this market, for a revenue generating role or in a highly competitive field, there is more reason to question unemployment.   Startup hiring — the type of hiring that @andyswan:disqus represents — is a completely different animal than hiring at more established companies.  You are already looking for a special breed that is sometimes hard to pick out of the crowd and on top of this you are trying to find someone that you know with certainty can excel in the job. There is too much at stake; a hiring mistake can be detrimental.  Hiring someone currently successful in a similar role is hedging your bet.Where I think that this type of thinking is less defensible is at larger and more established companies with HR and recruitment teams.  I think that often the “currently employed only” mentality is habit, laziness or a cop out unless for the exceptions I mentioned above.  You would think they would have the wherewithal to assess someone’s ability to do the job whether or not currently employed.

      2. fredwilson

        i agree with andy. if RP hires someone who was flipping burgers, then someone who is employed needs to be hired to flip burgers

        1. ShanaC

          Flipping bugers (unless they are danny meyer non-shake shack bugers) doesn’t pay enough to support putting a life together (family, kids).

          1. Carl Rahn Griffith

            Job vs Career – best explanation ever is by Chris Rock – if not seen, see clip on YouTube, below.Every kid – nay, adult – should watch this (contains some strong language)…

          2. ShanaC

            agreed about watching – he doesn’t really get into how to mass transition more people into careers that are not jobs.

          3. JLM

            2011 YTD — Well played!Chris Rock is a philosopher king in this clip.  It absolutely captures the essence of having a job v having a career.Pure genius!

        2. Guest

          Yeah, sure in that case that would be correct. However, Matt’s point read more like that he worries/fears/etc that it is just a musical chairs scenario within the tech industry at times. I completely concur, if folks currently outside of the circle are being brought in then yes. Matt’s comment was not phrased in that manner. 

      3. Spamfilter3

        “Startups would be wise to avoid hiring anyone collecting unemployment.”That’s gotta be the dumbest thing I’ve ever read.  Unemployed are among the most driven and productive members of the workforce I’ve ever hired.  Maybe that’s not what you meant to write, but it really comes off sounding ignorant as hell, almost like those morons who buy into the Fox echo-chamber.  Is that seriously what you meant?    T



      1. Anne Libby

        For many, being out of work is a serious reboot!

        1. FAKE GRIMLOCK


          1. Carl Rahn Griffith

            Until recently we were DOS – now we are Mac…

          2. Aviah Laor

            I’ll argue that humans are better on the hardware side

          3. Dave W Baldwin

            Doing the Reboot is tough when you consider all the elements surrounding the Rebootee.  Need either carefully plotted growing organism (multiple reboots measured together) or one massive disruption.Oh yeah, can’t wait to see the new, incredibly creative and original programming coming this fall… like Charlie’s Angels!

          4. FAKE GRIMLOCK


          5. Dave W Baldwin

            @FakeGrimlock:disqus using reply via gmail didn’t work, so I’ll copy/paste:Utilizing Art of War, there is a way to brainwash without going too SciFi. Regarding military, you’ll love what the military has brought to me via loose connection… something I knew would happen.  If all of us that realize the only logical way get our shit together over the next 18 months, we can get something done.

      2. Donna Brewington White

        “FIND WAY TO MAKE JOBS THAT FIT PEOPLE SEEM EASIER.”You’ve mentioned this before.  Sometime you need to spell this out. Maybe write a post. I like the idea but wonder how it would work in ensuring that all the functional requirements of a business are covered.I still need to pick your alter ego’s brain sometime, but I’ve had to put my little fledgling idea on hold. Of course, this comment stream has my brain whirring.  Keep coming back to it like a moth to a flame.  Maybe tomorrow Fred will do a post on bonds or something and I can get some work done.  But, I wouldn’t be surprised if it is another thriller.

        1. FAKE GRIMLOCK


          1. Dave Pinsen

            Etsy’s actually not a great example.

    5. fredwilson

      i think that’s a worthy effort Matt. i applaud it.

    6. Jace Grebski

      I’m a firm believer that any company should seek to generate revenues from the day it launches, and for some companies that means building out sales teams. While institutional sales will undoubtedly require industry know how, at least in what we do, sales to most SME’s will not, and typically will require low levels of training. Sure for the time being it’s commission only as we build out our revenue stream and can hire full time, but I would like to think that the 5 or so jobs we plan on creating for non tech oriented peeps will help. 

    7. ShanaC

      It isn’t just a tech thing either – it is an every job thing.  Right now there are 3,830 postings on Indeed that have the search string “currently employed”

    8. Austin Clements

      It seem to me like there’s an opportunity for a company like Indeed to link up with Skillshare to provide entry level skills to the ‘seemingly unemployable.’ If a person is out of work or looking for work I can’t think of a better use of time than expanding/strengthening your skillset.

    9. Guest

      Matt,If I understand your baseline premise in your comment above I have to say KUDOS for thinking and engaging in some prelim planning. If it is just a poaching Net Sum Game being played there will continue to be open positions within the Tech world while outside tech higher unemployment will persist. As @marksbirch:disqus  posted on his blog the other day – maybe a skills issue not a jobs issue. I happened to agree with him and my posts there reflect that.{Update}

    10. Davealevine

      Reminds me of a program that focuses on kids that don’t quite make it to college and helps them find their way into entry level jobs by partnering with community colleges and companies (linked in hires kids from there in their IT department).Definitely seems important. Scaling is hard, but they are working on it.Do it.

  5. CliffElam

    I think Indeed is a great site, but I’m not sure the jobs issue is friction in the market place.Interestingly, my wife can hire as many masters degree+ graduates who can do complex lab work at 70% of 2009 market rate all day long.  A good bookkeeper/AP/AR clerk? Impossible to find.  Well, at rates a biotech startup can pay, anyway.-XC



    2. ShanaC

      actually, I may know someone who could be a good bookkeeper/ap/ar clerk in New York.  She may be looking for more interesting work and for a place to grow into a bigger career than straight up bookkeeping.  Do you want me to ask what she is doing currently?

      1. CliffElam

        ShanaC – Thanks, but her company (Galaxy Diagnostics) is in Research Triangle Park (RTP), North Carolina.-XC

        1. Carl J. Mistlebauer

          Cliff, why not think about a bookkeeper/ap/ar clerk who works remotely?  It would seem to me that those are tasks that can be accomplished off site…..

          1. CliffElam

            That was my very first thought!  (I have a large team in the US, Costa Rica, and Bangalore, so my focus is on right-locating work.)But in a biotech startup there is a lot of hands on – finding samples in packages, tracking down paperwork that often won’t scan well for various reasons, etc.  It’s all very hands on.-XC

        2. ShanaC

          I try!

  6. Jan Schultink

    You can create a deal with LinkedIn to have people opt in to make their information available for the search engine. The traditional CV is pretty much dead, and your LinkedIn profile is the closest replacement.



      1. Carl Rahn Griffith

        ‘Resume’? I thought you were British, Mr FG? Thus, the humble CV, surely? 😉

        1. ShanaC

          He’s from the Midwest.  More Food there, but the winters….

          1. Carl Rahn Griffith

            Ah ha. Thanks, Shana! QED 😉

          2. ShanaC

            you’re welcome

          3. FAKE GRIMLOCK

            IN DC NOW.

  7. andyswan

    Edit: Congrats on Indeed. It’s great and anything that removes friction is good for all of us.

    1. fredwilson

      i don’t hear that last paragraph from any of our portfolio companies. they are investing and growing and not thinking an iota about taxes or regulations.

      1. andyswan

        Shit I edited it right as you were commenting.  What I said isn’t that applicable to startups….I agree.  That’s why I removed it.

        1. fredwilson

          got it. we are in agreement then

  8. Rob Ganjon

    I’m bootstrapping my company right now and just posted a job last week.  It’s part-time and doesn’t pay much, but the response has been very strong.  Amazing how many talented people out there are prioritizing big impact jobs at small companies over higher paying roles elsewhere.  Although it’s possible they just can’t find those higher paying jobs elsewhere.  Either way, it feels good to be creating jobs of any kind these days.Also, curious to know opinions on Startup America.  Case has been getting a lot of air time with Obama recently because of the program, but I’m waiting to see if the program has any impact.  Anyone have thoughts?



  10. Tom Labus

    This notion that it’s the President who is holding back companies from hiring is gibberish.  Companies can’t figure demand or don’t know what’s going on and if they say that they seem not in control and then vulnerable. 

    1. andyswan

      Of course it’s not just the President.  It’s the entirety of DC.  We’ve had a few years of the war on prosperity and this is the result.  Things will change soon.

    2. JLM

      It’s certainly not the President individually, but it is the mischief wrought by the policies, regulations and rules enacted by his administration — take as an example the recent decision to forego the EPA rules on coal just abandoned by the administration.First, they wrote those policies with almost unanimous disregard for the industry’s views at a time that both coal and energy generated by coal fired electric plants were worthy issues to be considered.The rules were draconian and would have shuttered mines and closed electric generation facilities. These rules would have destroyed jobs. Destroyed jobs.In this environment how many jobs were created (well, other than lobbyists, haha)?Answer — not only ZERO but a negative number.Then when it becomes election time, the President, in a grand gesture, indicates he will forestall 30K pages of new rules — why?Because he had seen the light, because he was really pivoting or because he was cynically gauging the impact on his re-election?I will not taunt you or anyone but I think it was the calculus of the election.  Do you think otherwise?In any event, the damage was done.  The coal industry did not hire folks and the impact is likely irreversible.The industry still does not know the real story — are the regulations and rules gone forever or do they come to light again right after the election?  Uncertainty breeds indecision and indecision does not breed jobs.So gibberish, Tom, or reality?

  11. William Mougayar

    The paradox of this whole jobless situation is that corporate America is posting almost record earnings and pretty good growth overall. Are they the ones that need to re-invest and get more aggressive?The other paradox is that much of corporate America is still bloated with inefficiencies and will flush thousands more employees if they could. I’m not sure that Technology jobs and startups on their own could move the needle, although it would be nice if they did. 

    1. fredwilson

      big corporate america is lost. they don’t know what to invest in.

      1. ShanaC

        Why?  Don’t they need to invest in the future to grow?  What is wrong with them?

        1. JamesHRH

          Haven’t you ever been lost? Lucky you!I spent most of my 20’s completely and utterly lost. Working, but with no personal understanding of what I wanted to do and why I should do it.You can still do things when you are lost, but its like treading water. Action but no progress.I think @fredwilson:disqus is bang on – Corp America looks at the macro financial situation and gets nervous.And then they look at the internet, with its growing power to creatively destroy any and all existing structural models (markets, organizations. business models, etc.) and they get really nervous.When you are nervous, you cut costs and pay down debt. You might being acting, but you are not moving.Movement – innovation and growth – requires confidence and belief. Not in huge supply in the mainstream business community, even though startup land is brimming.

          1. JLM

            In addition, huge profits and ooodles of cash which translates into heightened executive compensation.Why would they change anything?Why?

          2. Guest

            And that is a problem. As an investor in some of those I want to see that capital deployed. If Corp America is too frightened to act and move (legitimately or not) then give it back to us shareholders and we can deploy it. Putting it in the pockets of  execs is just plain old silly and non-productive. As a wise man once said there is only so much of that expensive cheese and wine one person can eat. 

          3. ShanaC

            I’m lucky – I’m finding more and more of myself every day. Hardest thing I ever went through was being lost.One of the best things I was told about anxiety ever (and I can get very anxious at times) is that doing the action that makes you anxious kills the anxiety. If they know the future is coming, it would be healthier for them to re-invest in their businesses. It would create new lines of products, a cushion for the future, and relieve the anxiety.The real anxiety is not knowing – and it is very hard to make the claim that in 10 years, the world won’t be very different. Might as well prepare the best you can!

        2. andyswan

          Of course they want to invest in the future.  They just don’t know what that means.Do you?

          1. ShanaC

            I live in Star Trek land – there is something better. Humanity tends to trend upward when it comes to the future, which is always around the corner.

    2. Carl J. Mistlebauer

      I know quite a few big players in my industry and in fact the biggest is six blocks down the street.  The trouble with big corporations is they know they have to invest and grow, but they cannot find the investments that give them that growth in the time frame they need it.When you have annual revenues of hundred of millions or billions for that matter what is a 5 million or 10 million dollar investment going to do to your bottom line?  Nothing, so its not worth the effort of investing.  The reality is that the whole concept of “too big to fail” is an inefficiency.  I know a local grocery chain that does 2.2 billion dollars in sales a year, and to maintain profitability and margins they just continue to buy more chains and more companies outside their industry….new technology, implementing innovation, may be necessary but they got to report earnings on a quarterly basis….

      1. William Mougayar

        True. Big companies will only enter new markets that can move the needle. 15 years ago when I was at HP, the threshold for a new market segment entry was $1 billion. It goes up from there, depending on the size of the company.

        1. Carl J. Mistlebauer

          That is why this market is ideal for start ups and small companies!  

    3. Peter Beddows

      Many, if not all, of the “big corporate america” businesses with their seemingly phenomenal growth are cash rich as a result of either or both a) very large layoffs/reduction in work-force and thus in overhead and/or b) outsourcing production overseas.Of course, they “don’t know what to invest in” because the demand at home is inevitably consequentially shrinking:a) With 14+ million acknowledged as “unemployed” and many more actually unemployed but no longer counted, our home market for goods of any value has shriveled.b) In addition to the unemployed, there is still a vast army of underwater home owners – as well a now a huge number of home owners whose homes have recently actually been underwater in floods – who are all strapped for cash and thus who will naturally be focusing their much reduced purchasing power on little other than bare essentials and necessities.So why would any cash rich business invest in further production, either at home or overseas, when there is no one left to buy what you are producing? Surely elementary my dear Watson!

  12. Aaron Klein

    Fred, I completely agree with you that government can’t create jobs and that entrepreneurs will need to solve this problem. But there are some major adjustments we need to make to our government to support that transition.I sit on the board of one of California’s community college districts. This year, I’m Board President and led a discussion about this at our board meeting just a few nights ago.As the pace of new industries disrupting old ones is getting faster and faster, and our governmental institutions are not keeping up. At my institution, we have 26 job training programs. Some of these are new (solar energy installation, virtual office assistant, mechatronics), and some are very much not (automotive repair, agriculture).But as one of our country’s former presidents has said, the closest thing to eternal life we’ll ever see on earth is a government program. And there has been broad resistance to closing job training programs where there is no substantial job growth or opportunity awaiting a student at the other end.What a cruel hoax.We need to build a new capability into our community colleges: the skill set of designing and standing new job training programs in less than a year, running them for five to eight years, and then allowing them to be disrupted and replaced as required by industry.In this shift from an industrial to information economy, we have a lot of work to help our workforce cross that chasm. Not all will be able to do so, but not every industrial job is going to disappear overnight either.But it will require our government to be far more agile than it is today.

    1. Chris McCoy

      I really like your idea here. 

    2. JLM

      The ability to “train to the market” wherein the marketplace indicates its needs and community colleges train students to fill those jobs requires a robust market for jobs with identifiable employers.This has been done in other business cycles to great success.The challenge today is there is no certainty of that job being there.

      1. Aaron Klein

        We see it in many pockets of the economy. Just speaking for my college, our employers desperately need more health care workers (not just nurses, but all over the health care spectrum).Yet because of rigid union and governance rules, we can’t simply go and create a new allied health program by shifting scarce resources from programs that are training students for jobs that don’t exist.We’ve got to develop a skill set for standing up and then replacing these job training programs with way more velocity than we’ve ever done before.We’ve got to develop the philosophy that we are building a program to be dismantled five or six or ten years from now.We’ve got to kill the philosophy that, once created, an educational program can never be ended.It’s often said that government doesn’t allow programs to fail. In this case, we don’t even allow them to succeed! (With success defined as doing a great job and then being replaced with something new.)

        1. Dave W Baldwin

          Hang in there Aaron, you are right. The problem comes from both sides where if the compensation for instruction is 100% Gov, that will become a post that is intended to last forever.  If you bring in too much of the supposed employer participation, you end up with one or two controlling things where limited knowledge is given in order to match lowest possible wage.Then ignorance is enjoyed by all.

          1. Aaron Klein

            Well said Dave!

          2. Dave W Baldwin

            Thanks.  Can’t match your comments, though.  After I get some nuts and bolts taken care of, I’ll let you know what’s up.  Still think we need to increase everyone’s knowledge and earning power.

      2. JamesHRH

        I agree. More awareness of how the system works has led to more caution.A govt program is perceived, today (rightly or wrongly), like a big purchase order from a customer you know is struggling financially – is it worth the risk?That keep employers on their hands.



      1. Aaron Klein

        Education that fails to impart that is a failure.

        1. FAKE GRIMLOCK


      2. Donna Brewington White

        And that is a travesty!Just as bad is not learning how to THINK!Well, maybe not learning how to learn is worse.

      3. testtest

        Learning with atoms is different to learning with bits. Search; wikis; video lectures; instant access to dictionaries, thesauruses, etymology; access to experts, authors, academics; streams of abundant information VS static and scarce information, etc, have altered the learning process.Be good to get that working in favor for the population’s cognition.But, then again, you can lead a horse to water, but you can’t make it think.    

    4. Donna Brewington White

      Great comment, Aaron!I’m not that familiar with these programs at the community college level.  Who designs them?  The reason I ask is that for greatest effectiveness, I’d think that the people designing, running and assessing these types of programs should be as closely connected to the marketplace and the “real world” as possible.  Is this what happens?  People who are government-programmed can’t be in charge of this.These types of thoughts are top of mind because I’m helping my old (search) firm with a college president search and just spent several hours this past week meeting with the board and administration/faculty.  Interesting world.   We will have even more to talk about when we finally meet!  Must be an interesting brain dynamic for you moving between the two worlds!

    5. JLM

      So much to like in what you have written.My favorite — a cruel hoax.In some ways that summarizes exactly what is going on in Washington. From every perspective!

      1. Aaron Klein

        Sadly, I can’t disagree…

  13. William Mougayar

    I personally think the jobless situation will get worse before it gets better. The US Government is also bloated and too big, and that shoe is going to drop eventually (i.e. more layoffs).The U.S. should transform itself into a giant job re-training/re-purposing laboratory in order to re-emerge with a less than 4% jobless rate. 

    1. Dave W Baldwin

      That is a big statement, yet right strategy due to cold logic.  You are wise.

      1. William Mougayar

        I may have gone on a limb with this prediction. You never know. Just my horse sense, nothing else.Thanks for your comment.

        1. Dave W Baldwin

          You are not on a limb.  And your horse sense is right.

    2. Donna Brewington White

      Transformation.  Spot on.  

  14. JLM

    Living in Austin, I can tell you that Indeed is a very well respected company and that the local buzz is that it is both a great place to work and a big winner.  Congratulations!This will be a long ball w/ men on base and maybe a couple of laps.But there is an interesting and subtle message about that success — this is exactly kind of job creation that has been occurring in Texas for some time now — contrary to what the folks who are stretching to find fault w/ Rick Perry might say.And why?Because Austin by God Texas is the home of the Texas Longhorns (supplier of both football talent and high tech talent) and through government policy has become a bit of a national tech center going back to guys like Pike Powers and Bobby Inman who had the foresight to attract the first collective tech alliances such as Sematech to Austin about 30 years ago.What has created this fertile jobs environment is government POLICY and then getting the Hell out of the way and letting the private sector (guys like Fred Wilson) get to work backing job creators.The RIGHT government policies work when government listens, acts and steps back. This is a monkey see, monkey do for the rest of the US. Do it, monkeys!Indeed — great company people by kids coming from UT, St Eds, Tx St, Concordia Luth, ACC — 100,000 students within 30 miles because tuition is low and because of the Tx Top 10% program.  Gov’t policy, good gov’t policy.Sematech and other programs — brilliant visionaries like Pike Powers and Bobby Inman brought these ideas to Texas and got them startedUTIMCO — University of Texas Investment Management Company — a source of funding for Fred Wilson, one of his LPs — saw the opportunities in VCNo personal income taxes, low levels of regulation, consistent policies, simple policies and a bit of cheerleading and welcome to the neighborhood, newbies. We love y’all!This is what can happen when government is supportive of business over a long period of time.JOB, GOOD JOBS, LOTS OF JOBS  requires good government policies. Not talk, action and not complicated action.This is exactly why Texas has created 40% of all the new net jobs in America over the last 3 years.It is NOT a MIRACLE, it is decades long series of good government decisions by leaders who really are supportive of business. Can you imagine how powerful a bunch of committed Texans can be to create a welcoming environment?Did I mention Tex Mex, BBQ, chicken fried steak, low costs of housing? And the weather, well, let’s not go there right now but Hell we have 9 beautiful months and 3 bad ones.Energy policy in Texas?  Go try to find a damn hotel room in Odessa, TX — the Oil Patch.  But I will leave that for another time.

    1. fredwilson

      i agree with much of what you say JLM. Austin has been very good to USV. UTIMCO are amazing investors and great people too. and Indeed has built a great organization in Austin. but, half of Indeed is in Connecticut and they have created a ton of jobs there tooTexas is great, but so are the other 49 states too

      1. ShanaC

        Did you read that article about Idaho –… – Maybe they should invest in tourism away for technologist who need to get away?  Maybe bringing them bandwidth will increase jobs?

      2. JLM

        Fred, I don’t know if you are referring to Indeed or the entire State of Connecticut?Conn is a miserable job creation environment ranking at 43rd in job creation but more importantly having run off thousands of small businesses — based upon the characterization of tax return filers.It is a disaster.   

        1. fredwilson

          all i’m saying is Indeed has created a lot of jobs in CTyou don’t need to be in Texas to create jobs

          1. JLM

            Indeed!Nonetheless the Texas record is very impressive by any measure.

      3. Donna Brewington White

        I thought Texas was a country.  At least that’s what they told me in Houston last week.

        1. JLM

          Well, yeah, but we don’t want to seem……………………obnoxious.Not very good at it!

    2. Luke Chamberlin

      Silicon Valley is a tech job creation machine, even though California has some of the highest personal income taxes in the country and lots of regulation.NYC – same thing.The formula isn’t so simple.

      1. JLM

        While the discussion started about Indeed, my comment was intended to encompass the entire State of Texas.There is probably no starker and more informative comparison than California v Texas.8th largest economy in the world v 13th largest.  Not a micro comparison in any form of speaking.  A huge laboratory experiment.California — every statewide office held by Democrats.Texas — every statewide office held by Republicans.I will not even bother to catalog the differences other than to say that Texas has created 40% of all the jobs in the US in the last three years, has 1200 people per day moving in and is routinely voted the best business environment in the US by CEOs and any other cross section of business.This while thinking that California has a great education system, natural resources, perhaps the most beautiful State and a great climate while being the gateway to Asia.The policies — the policies enacted by their office holders — have determined the relative outcomes.You cannot swing a cat on a 10′ rope in Texas without hitting a Californian.  Folks are voting w/ their feet.40% of all the jobs in America for 3 years running is not a thin margin.  

        1. Luke Chamberlin

          Are you saying that you think Austin will eclipse Silicon Valley in tech job creation?

  15. Carl Rahn Griffith

    “@TheEconomist: Most trending: How individuals can survive in the new world of work”

  16. Pascal-Emmanuel Gobry

    A couple weeks back (I think) I tweeted something like “Are Indeed and LinkedIn on a collision course?” And LinkedIn is a resume search engine…

    1. fredwilson

      maybe. indeed isn’t trying to compete with LinkedIn per se. they are just building things that their users (both seekers and employers) have asked them for

    2. Donna Brewington White

      Some crossover, but different animals.

  17. markslater

    i am proud to say that we used indeed for a CTO search. We settled on about 35 candidates and hired the successful applicant – Milenko who starts tomorrow for us. It was the easiest, most cost effective, and productive hiring experience i have had with any tool……and i now have my CTO and we are stoked!Indeed rocks. 

    1. fredwilson

      wowwwwww. so happy to hear it.

      1. markslater

        i sent you an email – indeed reached out to me – you’ll like the pic i attached! check your spam as it came from mark at getabl.

        1. fredwilson

          just replied

    2. Donna Brewington White

      Even in an employer’s market, it is a coup to pull off a hire like this using a job board.  I am curious as to whether this person was currently employed?Also, a job board just provides a source of candidates.  It doesn’t assess them for you or create a productive hiring experience.  That part was YOUR doing and obviously you must be doing something right!



        1. Donna Brewington White


        2. markslater

          let me tell you – if indeed gets this right – long gone are the huge “fees” recruiters are used to getting. democratization of candidate matching. Bye bye brokers.As donna sais – after all – the really important stuff starts the moment the candidate walks in the door.

          1. FAKE GRIMLOCK


          2. Donna Brewington White

            “the really important stuff starts the moment the candidate walks in the door”Well, yes — sort of, (and apparently you do that part very well!) but a lot of really(!) important stuff happens before you even begin recruiting.  Many bad hires happen because the right preparation for the search wasn’t completed beforehand and the recruiting effort is going after the wrong target.”long gone are the huge “fees” recruiters are used to getting”We’ll stop getting the fees when job boards replace the most important aspects of our work — which actually isn’t drumming up candidates. Otherwise, you wouldn’t see so many recruiters (not me) using job boards to find candidates and then still earning a fee.And as far as drumming up candidates, the clients I generally work with are paying me to find those people they won’t find on a job board.  I am not merely finding candidates, I am creating them.  Job boards are for farming.  Nothing wrong with that.  But, when recruiting involves hunting, that’s where I come in.  Oh, yeah!

          3. Donna Brewington White

            “the really important stuff starts the moment the candidate walks in the door”Well, yes — sort of, (and apparently you do that part very well!) but a lot of really(!) important stuff happens before you even begin recruiting.  Many bad hires happen because the right preparation for the search wasn’t completed beforehand and the recruiting effort is going after the wrong target.”long gone are the huge “fees” recruiters are used to getting”We’ll stop getting the fees when job boards replace the most important aspects of our work — which actually isn’t drumming up candidates. Otherwise, you wouldn’t see so many recruiters (not me) using job boards to find candidates and then still earning a fee.And as far as drumming up candidates, the clients I generally work with are paying me to find those people they won’t find on a job board.  I am not merely finding candidates, I am creating them.  Job boards are for farming.  Nothing wrong with that.  But, most of the recruiting I am involved in is oriented toward hunting. (That’s the fun part.)

          4. markslater

            start ups – it comes down to people, team. Assume they have the requisite skill set – thats measurable. what isn’t is how the team gels – far more abstract and very difficult to judge.

          5. Donna Brewington White


  18. danosipov

    This interesting story appeared in the Guardian, precisely on this issue:…

  19. gregorylent

    it’s not like there are not millions of things that need doing in this country .. it is just that we have system that doesn’t value them being done.

  20. ShanaC

    Honestly, what infruriates me about the process is not the searching.  It is systems like Taleo. when using, I keep having to re-enter the same exact information.There is no common app for jobs, in other words.The other issue is that because everyone is getting inundated with applicants, if you are an applicant, you’re treated at paint by the numbers, do you fit into some category.  I once got called in for a job. At the interview, they realized I would be much better for a whole different department, which they didn’t have anything full time in.  Months later, I’m still in limbo – in their systems, wondering if I will get called back at random like the first two interviews, or wondering if it is hopeless.I honestly think in this sort of economy, HR should think about community managers for job applicants, just to protect their brand in case the HR process goes horribly wrong.  I’m afraid someone will eventually lash out at some company because of this system of being stuck eternally in a computer.

    1. Donna Brewington White

      The whole process of hiring is a system that is dreadfully broken in many instances, Shana.

      1. ShanaC

        My mom actually helped write parts of the original system way back when. She was complaining about how this made for broken systems during the time it was built….

        1. Donna Brewington White

          Your idea mentioned earlier about community managers for job applicants is actually a very good one.  Also, you mentioned protecting the brand — I’m not sure if you are aware of the concept of employer brand which is separate but linked to the marketing brand.  I believe the two should be seamless.  Some companies are paying more attention to the fact that the way they treat candidates reflects on their brand. There have been some companies that I could no longer support as a consumer because I saw behind the scenes how they treated their candidates.BTW, you should reach out to that company that you mentioned.  Give them a little prod every once in a while.  Managing candidate flow can be overwhelming and there is the tyranny of the urgent.  If your resume doesn’t fit neatly enough into any of their job categories it may not pop up when they do database queries.

    2. Dave W Baldwin

      FWIW, their loss Shana.

      1. ShanaC

        Makes me feel better. Somewhat. Mostly a complaint that the system doesn’t really work at all.

  21. Carl J. Mistlebauer

    One again, we have Indeed, which promotes job searches, and anything about jobs will always lead to a discussion of government!From a recent article in Kiplingers:Prior to this recession the worst recession since WWII had been the 81-82 recession.  In 1982 household debt was 45% of GDP and when interest rates began to come down markedly people paid down debt allowing them to begin spending again.  Today household debt is more than 90% of GDP and interest rates are already low.The government can create jobs, look at the military industrial complex!  But can government sustain job creation?  Nope, only demand can.  With household debt at 90% its going to be a long time till we see sustainable job growth via demand.Then you have to acknowledge that we are a mature economy with 300 million consumers and China is a growing economy with a billion consumers and thus the future belongs to them!As far as hiring goes, statistically its proven that the unemployed are not being hired, thus we are in effect job swapping more than job creating.  Start ups look for folks who are young and have start up experience.  Companies in the auto industry advertise jobs but they look for applicants with auto industry experience.The reality is we are not only in a depression but we are also transitioning.  I believe that the Obama job creation bill has one major plus, and that is the concept of continuing to pay unemployment to people who get jobs that require retraining.Funding is our greatest problem right now because I know companies that cannot get funding to finance expansion, to fund growth, or to start new companies.Even in the world of VC and angel investors, less than 1 in a 100 start ups get funding…imagine if we could change those odds to 25 in a 100?My problem is that I never bought into the argument of either the liberals or the conservatives….to me economics is supply and demand, and politics has nothing to do with either.Our problems are not government related but rather system related within our economy…we ceased being an economic system and morphed into a massive credit scam….Until household debt gets down to below 45% of GDP we are just going to be treading water…..

    1. Dave W Baldwin

      Well said Carl.  That is why something needs to be done along the parameter @wmoug:disqus posted today.  We are in a transition and all temporary fixes will be outdated before they even begin.On the note of VC/Angels, put that parallel to Education and go with 5-10% improvement across entire spectrum.  That alone, plus its “doubling” would be profound.

    2. Peter Beddows

      Well stated Carl though I take issue with one item.First, however, this simple statement sums up reality that clearly escapes everyone in Washington DC, or perhaps it is that it serves their purpose better to ignore this reality:”to me economics is supply and demand, and politics has nothing to do with either.”The loud cry we so often now hear is that Keynes has been “proven discredited” – but the reality is that Keynes principles have actually not been faithfully and firmly applied yet the chorus responds oblivious to reality with loud claims that Keynesian principles have been applied and thus, by the dismal results we now observe, has been proven wrong! Instead, the application of Keynesian ideas has been with apprehensive timidity, thus ineffectual and doomed to be a failure. It has been akin to ignoring the doctors strict but demanding regime to be followed in order to speedily recover from a critical illness and then blaming the doctor because we do not get well. Eg: continuing to smoke after a heart attack.Secondly, the reality about the deficits is simply that they started growing wildly out of control under GOP and Bush. The, IMO, absurdly pointless, criminally stupid and immensely damaging and expensive war in Iraq that was to benefit the paranoia and pocket book of Cheney and co followed by our misguided attempts at country building in Afghanistan. I was all for giving a lesson of “don’t mess with US” to Taliban and Al Quaeda but we have gotten way too embroiled in other peoples affairs while our own pot was willfully and woefully left unattended on the stove.So for GOP to point the finger at the Democrats and actually succeed in convincing everyone to believe the Dems and Obama are uniquely responsibly is hypocrisy of the most magnificent order: How do they get away with such BS, literally every day coming out with further distortions of truth as certain GOPers vie to be our next leader, notwithstanding that there is no one amongst them who is even close to being what a true leader would be? IMO, they are all equally as feckless as any of those who already in office. Houston, we have a serious problem that even Texas cannot help us solve and where the current day Texas option may actually even exacerbate that problem if ever reaching the WH. But, in deference to my TX friends, if I still have any, this is just my humble opinion.However, I do not agree that “Our problems are not government related” though I do agree that “rather system related within our economy…we ceased being an economic system and morphed into a massive credit scam….” But then again, that served the purposes of the top 1% very well at the expense of the rest of our people.In plain simple fact, “Our problems are completely government related”. But the cause of our government being the source of our problem is that our government is no longer OUR government: It is now a government of the people by those beholden to vested interests for the benefit of those vested interests and thus this is the root of our malaise and why we cannot actually achieve any beneficial change for us as a society as a whole.Change cannot and will not happen because such a change would take power from those that have so assiduously worked behind the scenes to grab the power from us, the American People.Just think about it, your representative or senator certainly needs your vote but he/she actually far more greatly and urgently now needs funding on such a massive scale just in order to get your vote that he/she is captive to the source of that funding which is no longer you! You and your needs actually no longer are of anything but lip service relevance to your representative in state or federal government. (eg: “Goodbye to All That: Reflections of a GOP Operative Who Left the Cult” | Truthout – Mike Lofgren – )That’s why I support Howard Schultz’s call to not donate any funds to political campaigns. It’s time we took back our government or we will accelerate into being a has been nation with an even vaster gulf developing between the masses and those in the 1% top bracket: The irony is that we celebrate July 4th and Independence thinking we parted ways with King George and his court but actually they are hale and hearty though now ruling us under a different name and keeping out of the limelight as much as possible lest we wise up to reality as it really now is.That all being said, I really like JLM’s earlier suggestion but that has as much chance of being brought into reality as has Obama’s Job plan, albeit JLM’s solution would be much more beneficial to a much broader populous. I’m ready to vote for JLM as next president.

      1. Carl J. Mistlebauer

        I watched Jeff Immelt on GPS today….we don’t stand a chance!

  22. Chris Waldron

    We’ve been using Indeed for several years now and have found 100’s of great candidates. The team we’ve worked with has been great. The pricing model isn’t perfect but a great source for finding candidates.

  23. LE

    “One thing entrepreneurs can do is to make it easier for people to find a job”…”Indeed’s job search is used by between 30mm and 40mm people worldwide”…”We can sit around arguing about how to solve the jobs issue in this country or we can do something about it. I’m happy to see some entrepreneurs doing something about it. And making money along the way. That’s the way out of this jobs mess.”Look no matter which way you look at it if there is animbalance between supply and demand someone is goingto get hurt. (Having the best dating site operating inManhattan isn’t going to help women land men if there aremore men then women. Many men won’t even date to anotherneighborhood there is so much to choose from on theirparticular part of the island.)In reading the comments below I really only see one mentioning the demand issue at all. Havinga site which helps people find jobs is great. But isn’tit like rearranging the deck chairs?And keep in mind also that people laid off from large companies are not really equipped to work in small companies or outside whatever theirarea of expertise is. People tend to be very niche in a large company job and in a small company you tend to have to be more of a jack of all trades. You haveto handle A/P and do a little customer service as well. And you haveto deal with the repairman who fixes the HVAC if the bossis not around.Which is why if you’ve worked for a small company it’s hard to get a job many times at a large company. A large company wants the exact person who “managed procurement of jetengine vapor expanders for the last 10 years at another aerospacemanufacturer” that can also relocate to Chicago.(I’ve had conversations with tearful people that arewell educated, laid off, and can’t find a job in whatthey know..)In a bad economy people are out of work. And those peopleout of work aren’t necessarily able to even do other things (andthat assumes there are even jobs that are available at all).Can they be retrained? How long will that take andwho will pay for that as well as the relocation towhere the jobs are?Has anyone seen the job fair lines? Or the storiesof places closing in the middle of nowhere where peoplehave worked for 20 years?So while I am not a fan of government involvement I thinkthis would be a case where the government might beable to step in and help with things a bit.

    1. Trish Burgess-Curran

      I beg to differ…  This will happen if you work for a large company and you do notcarefully manage your career.  I have worked for a number of large companies and have held a good number of very different roles, managing to change when switching companies and also within a company. I am not alone, by any stretch of the imagination, in achieving this.  It is not always comfortable – being the new kid on the block surrounded by experts with 10 or 20 years experience in their role is not fun – but it is worth-while and very enriching.Having said that, I have no doubt that working for a small company can allow you a greater level of responsibility and variety in your job.  It is fun!

      1. LE

         Trish – I think it’s great what you have done (I took a look at your blog btw).But your experience as someone who managed to get an MBA from Wharton (I graduated Wharton as well) is not typical of what is out there in the wide variety of positions and unemployed people. (And if it was, then being a graduate of a top school wouldn’t be special, would it?) Someone who got into a top school in the first place in many cases could be higher powered and will also have an easier time reinventing themselves. And before anyone gets insulted that’s not to say if you didn’t go to a top school you aren’t as good. 

        1. Trish Burgess-Curran

          Point taken…  Although, if there is a will, there is a way!  At the same time, I agree that you may need to be quite determined…Greetings to another Wharton grad!

        2. Guest

          Great comments LE!

      2. Donna Brewington White

        I don’t think I’ve seen you comment before, Trish.  Welcome.

        1. Trish Burgess-Curran

          Thank you so much!  I am really enjoying Fred’s posts and the interesting and enriching comments that you guys post.

    2. Donna Brewington White

      I found myself agreeing with you that the problem is so big that some sort of boost (intervention?) is needed — maybe from the government (as painful as it is for me to say that and all the time hoping there is another way).  Perhaps a “reinvention bill” or something that provides opportunities for retraining and incentives for companies to hire the unemployed, even better if they re-train them.In another comment I said that I believe in a capitalistic employment market and I wholeheartedly do, but this goes beyond the employment market.  A large part of our society is facing obsolescence.  This is a much bigger problem than unemployment, it that wasn’t problematic enough.  We are wasting potential.About your comment that people in large companies are not equipped to work for smaller companies:  the large –> small company transition is often more about attitude than ability.  I’ve successfully recruited a number of people from larger companies to smaller — but these are startups or highly entrepreneurial companies (which is different from merely a “small business.”) I consider it a way of setting the captives free.  But it has to be done with awareness.

      1. Guest

        Yes, Donna. Those are the points I am trying to make and elicit additional discussion:” A large part of our society is facing obsolescence. This is a much bigger problem than unemployment, it that wasn’t problematic enough. We are wasting potential. “

    3. fredwilson

      i discussed the supply demand issue in the post I linked to at the beginning of this post…

  24. kidmercury

    the jobs issue is macroeconomic. there will be no job growth until debt is reduced, to the point where savings and consumption both increase. this ultimately requires new monetary policy as current monetary policy is to add more debt to the system, which can and is being forced against market will through deficit spending. ignorance is futile. only the truth can set us free. 9/11 was an inside job,kid mercury

    1. ShanaC

      Are you back for the medium term Kid?

      1. kidmercury

        reply by email isn’t working. in all blogs i read i try to participate if i see an opportunity to talk about the macroeconomic situation

        1. ShanaC

          Does this mean we’ll be seeing more or less of you though? – you’re still the bouncer.  Gee, I sort of think this sounds like a schoolgirl crush (it isn’t)

    2. Cam MacRae

      No amount of lever pulling will re-float this particular ship.I’m with Umair Haque on this one, in that I strongly believe we’ll be stuck in this malaise for as long as it takes us to define and implement a new century capitalism. 

      1. markslater

        i completely agree – the post industrial pillars of capitalism have been knocked down by grossly distorted greed and the absence of long term value creation. It will take a generation to re-pour the foundation for a better society. But its our time right? thats our generations calling – i feel like it is – it will define us. We must succeed. 

        1. Cam MacRae

          I share your optimism, and think the process has already begun – there seems to be a lot of high quality discussion (and a fair bit of action) about how capitalism might be reworked to deliver on its promise of a life lived meaningfully well.Actually, I think that should be the new American Dream: A life lived meaningfully well.

          1. markslater

            spot on – that is a great quote. 

      2. fredwilson

        i like Umair’s high level views

        1. Cam MacRae

          Yeah, I get about 90% of the way with Umair.

      3. JLM

        I agree more with you than you do with yourself.We are still going down and it will be TWO years up for every year downWe are already at the decade point.

        1. Cam MacRae

          Oh I’m quite sure we’re still going down. When I say I’m optimistic, I’m mean with a 20 year horizon.

    3. fredwilson

      i agree that we need to get through the delevering process to get healthy again

      1. kidmercury

        reply by email doesn’t seem to be working……in any event, the only way to get through the delevering process is through monetary policy reform.  

  25. Dennis Buizert

    I plan to start my company in the USA. Mainly, because it will help the country, better people there, cheaper work force in comparison with skills and eagerness. Less law bullshit on trying to fire someone.So will be going to NYC in december to a) visit my cofounder and have an awesome vacation with him b) look at how startups are doing there c) possible locations to grow in NYC. So if you run a startup there and/or are from europe and want to let aspiring entrepreneurs check out you office and business contact me! Highly interested in connecting 🙂 

  26. Brad

    I sit on the board of good sized credit union. They have hundreds of millions of dollars to lend but there are limitations:1. As a credit union they can not loan to businesses beyond a certain percentage of their portfolio.2. The new regulations that are out there make it so it takes over 8 months of mortgage payments before they break even on the fees to create and open the loan (essentially the money is going to the government for mortgage insurance, etc.).3. Every dollar that is deposited has a monthly fee that goes to the NCUA (FDIC equivalent) and it is costing the credit union more money than it is worth to have new deposits. So they have quit trying to get new deposits and members due to regulations.I could go on and on, but I can tell you the banks have very little wiggle room, even with lots of money, to help small businesses.I agree, the entrepreneur has to be a big part of the solution. But the government has to get out of the way and allow the entrepreneur do his job!

    1. Trish Burgess-Curran

      Brad, assuming the numbers you provided are correct, your post is an eye-opener – numbers are always powerful!.  You cannot encourage banks to loan while increasing the ‘penalties’ – in the form of regulation-related fees / charges – to do so. In Europe the problem is similar, although I do not have a clear set of figures to share with the community.  This is compounded by a less active investment community (be it VCs, angel investors or PE groups) and the result is a much lower creation of start-ups and, therefore, growth.I do agree with the general sentiment about small and medium size companies generating most of the grown – both in the past and in the foreseeable future – but we need to make sure we are keeping the motor going.

      1. Brad

        I tried not to post numbers because they would tick you off. All I can say is that the credit union is on cruise control even though they have millions to lend. Let me state that again, MILLIONS to lend.

    2. JLM

      You identify problems which are almost totally policy driven — mandated portfolio allocation requirements, core capital requirements and fees.It is government policy which is determining the outcomes.This is a direct and simple example to understand and it makes me want to puke.

      1. Brad

        I got in to an argument with one of the regulators over how ridiculous it was that they wanted the CU to sell off more of their real estate loans. It is the best performing category at the CU. He said that is our recommendation and if you do not do it, we will raise the effective rate to be NCUA backed. I asked him why all the politicians were saying we need to fix housing and then creating rules to the contrary, he said that politicians say what they want, the regulators know what is the correct action to take.I about threw up and seriously contemplated running for the senate, I was disgusted. Until housing gets fixed this economy does not get fixed.

        1. Dave W Baldwin

          You’d get my vote. 

        2. JLM

          You got my vote and tell me where to send the check!

    3. fredwilson

      those who can do, those who can’t regulatei bastardized a common quote to come up with that one

  27. guest

    I have to agree with @kidmercury:disqus  on employment. Regardless of those in VC or DC, high unemployment will persist because of the shortsighted and reckless monetary policy that has led to over-levered consumers and over-levered governments. Austerity and time are the only cures. 

    1. JLM

      Actually growth while constraining spending is the answer.Grow the economy while cutting spending to 2008 levels and the problem disappears almost over night.

      1. Carl J. Mistlebauer

        JLM,You are a wise guy, but do explain to me how cutting government spending will spur consumer demand when consumer household debt is 90% of GDP.Growth in the economy is derived from demand, and consumers account for 70% of demand….if consumers are in debt up to their eyeballs and with the lessons of the financial meltdown finally hitting home, that debt is bad, then until the consumer gets unburied, government can increase spending, decrease spending, raise taxes, cut taxes….nothing is going to matter.

        1. JLM

          Carl, I was quite careful in saying “constraining” rather than cutting.I believe all we have to do is to constrain the RATE OF GROWTH of government spending not actually make any real cuts.All the baloney that just concluded about deficits does not really “cut” the total budget at all, it just reduces the rate of growth.  Certain departments may see funds shifted about but there are no real cuts.Frankly, now I would INCREASE government spending if we had not pissed away so much in the Porkulus on silly projects.I would go back to the model of the CCC and WPA of the Depression. I would take wholesale blocks of young folks and put them to work on the Nation’s parks (CCC) and infrastructure (WPA).You recognize that, of course, the unions would go ape shit over these programs and oppose them.I would also raise 20 Divisions of Marines and Army to take the pressure off the Reserves and National Guard.  I would raise these Divisions at home where they would have an impact on local economies (bars, whorehouses and used car lots at first).What would I do w/ them?  Secure the Nation’s borders and allow all combat fatigued Regular units to lean back, retrain, retool and finish off the job overseas and then come home.Ending those wars — on the right note — saves the budget arguably a trillion dollars over some fairly short time frame.I would then begin to reduce the size of the Marines and Army 3 years hence through tightened enlistment standards and lower recruiting goals.  The perfect management mechanism for such a large number of men but pushed into the future.These two ideas alone (both stolen from the Depression and FDR) would reduce unemployment by 3-4MM persons and would get unemployment under 7% within 6 months.How would you fund all of this stuff?  Simply redirect unemployment funds from sitting on the couch to joining the CCC, WPA or military.It worked in 1938-40.

          1. FAKE GRIMLOCK


          2. JLM

            Actually, the military probably needs 250K of tech folks for the forthcoming battle on the cyber warfare front, the  continuing development of drones, satellite warfare, ether message interdiction and post pulse communications.From an unemployment perspective, there are not enough unemployed software engineers out there to impact unemployment.Your long term solution is a fine one nonetheless just not viable in the short term.

          3. FAKE GRIMLOCK


          4. fredwilson

            That’s sort of what they do in israel

          5. LE

            I’m actually surprised that you are saying that.Not everyone can write computer code.  And you know that. So by “entire generation” can you define exactly what you mean by that?

          6. FAKE GRIMLOCK


          7. leigh

            In Toronto, there is this crazy show on one of the public TV stations – two or three Rabbi’s arguing over the Talmud.  Have you ever seen Rabbi’s argue over whether Moses threw or did not throw down the 10 commandments on the Jews after the Exodus of Egypt?  Will ‘splain a lot on how our Jewish minds work 🙂

          8. Carl J. Mistlebauer

            I figured you and I would see eye to eye…Your ideas are classical liberalism at its best; I caught a lot of grief for stating that I do not vote regularly,  but the reality politics is such a meat grinder, and it turns the choicest cuts of meat into the most unappealing sausages I have ever tasted.      

          9. Peter Beddows

            Terrific and insightful idea @JLM. I like and support it all.As to the Unions; they may have at one time in the past served a useful purpose for workers when management did take great advantage of the workers but much has changed since those dark early days of the industrial revolution. We now have multiple laws on the books protecting workers. I now believe that if unions are to continue to exist with purpose serving their members without putting business in jeopardy, then union representation should be restricted to representing the workers in an individual company as distinct from representing a trade across multiple companies.I saw so many instances in the UK of unions striking over unrealistic demands that, if agreed to, would jeopardize the very viability of their employers as a going concern. It seemed more and more bizarre and self-defeating to me in noticing how the management of many different companies eventually would so often cave in to union demands while it was clear that the results of meeting those demands would inevitably lead to closure of many of those business in the longer term: Tactics akin to the workers killing the geese that were laying the eggs the workers themselves needed to sustain themselves and their families. But the UK Labour government was behind the workers for it was the unions there in the UK – as here in the US – who funded the socialist (labour) political candidates’ bids for election.  It is quite amazing to see how a crowd of people gathered together for an ostensibly good purpose in a union meeting can rapidly be worked up into an irrational mob even though the outcome would be self-defeating. Hitler was a supreme example in effectiveness of persuading people to turn a blind eye to the reality of consequences to the choices being demanded.  As Abraham Lincoln observed “You can fool some of the people all of the time, and all of the people some of the time, but (fortunately) you can not fool all of the people all of the time.” Unfortunately, the few wise people that see through the distortions of truth are often a voice lost in the wilderness when it comes making attempts at bringing rational back into the decision process.Back in the UK before coming to the US, my staff of just under around 200 people covering functions ranging from white collar groups including designers and production planners to blue collar groups in production covering mechanical and electrical assembly, clean room techs, welders, pipe-fitters, machinists, etc., all of whom were variously members in one of five different unions.My UK daily working management life revolved more around solving union challenges to management than it did around Operations so I moved my secretary’s desk to in front of my office door in an attempt to field shop stewards’ visits.This was a time of increasing socialism in the UK under a series of Labour controlled governments before Maggie Thatcher. One of my accomplishments was to get the “brothers” to agree to consolidate their membership into just 3 unions which lead to a big improvement in labour management. However, overall, getting productivity improvements became so frustrating and drawn out that I was delighted when I was invited by the US parent company to transfer to the US. The irony here being that Maggie Thatcher was elected PM the same year that I came to the US and things started to improve in the UK but I suspect that the malaise that had started in the UK gradually spread to us here in the US leaving us where we find ourselves today. The short sighted agreements with unions here underlie the absurdly disproportionate pensions and healthcare agreements arrived at during a time that our manufacturing industries had little serious competition but by management oblivious of long term consequences and completely in ignorance of the high probability that the day would come when they were no longer without serious foreign competition undercutting them in production costs and fast whittling away at profits resulting from manufacturing on our home turf.Hence given that we do “recognize that, of course, the unions would go ape shit over these programs and oppose them” and, IMO, it is equally likely now that the Tea Partiers will also “go ape shit over these programs and oppose them”, hence it is about time that those amongst us who are still rational and capable of real leadership – unlike anything that we may currently observe amongst any existing party or candidates for president where leadership is clearly an oxymoron –  stood up and stopped the tail from wagging the dog.

  28. Rick Mason

    Sorry Fred but it didn’t work. Tried it with both PDF and Word versions of my resume. It scrambled everything and made an unworkable mess.Too bad because I really like Indeed. I sincerely hope they get it right, but they’re not ready to come out of beta just yet.

    1. fredwilson

      that’s a bummer. i’ll forward this comment to the team.

    2. Guest

      Rick,Sorry for your troubles. I’m the VP of Product at Indeed. We currently have a 95%+ success rate in automatic conversion of uploaded resumes but are constantly working to improve our parsing technology. Would you be willing to send your resume to us for testing? Please send it appsupport [at] and we’ll get back to you. In the mean time, if you have a LinkedIn profile you can create an Indeed Resume with a 1-click import on the same upload page.Thanks for your feedback.Chris…

  29. Libor Rajnoha

    Hi, has been here long time before…

  30. Libor Rajnoha

    wowww, why do you remove my post…you freedom to talk…

    1. fredwilson

      The only way your post got removed is if it was spam

    1. guest

      you lost, get over it. when your site closes maybe they can use indeed.

  31. Dave W Baldwin

    Great post and slew of comments!The only way we are going to get out of our mess is through Growth and that Growth being bigger than debt.  The @JLM:disqus / @tao69:disqus discussion is on the mark.The one correction I’d like to make concerns the handy “flipping burgers” metaphor used often.  Many who work hard eventually realize all they put in their employer’s pocket with reward of expanded duties/ no raise in pay.  They begin to realize the possibility of entreprenuership. These people are affected also.

    1. Carl J. Mistlebauer

      Dave, my best production manager was a woman I hired away from a truck stop where she was a waitress. My best customer service manager was a woman I hired away from a daycare she managed….If someone is an awesome at “flipping burgers” and if I can determine a mind set fit then you better be paying that person really well or they are working for me!

      1. Donna Brewington White

        I love that mindset, Carl.  The ability to see potential allows you to find those hidden gems that others will miss and I imagine creates employees who are loyal.

  32. leigh

    Resumes are a waste of time.  If linkedin has taught me anything, is that anyone can claim whatever they want and get away with it. People send me links to people’s profiles all the time with a “can you believe THEY said they did that?”

    1. fredwilson

      i like looking at someone’s blog better

      1. leigh

        One of the reasons i still blog – even if it’s not often and clearly i do a poor job building community – it let’s people know how i think – best resume there is.  

  33. Dave Pinsen

    Related to the discussion here, just saw this Politico piece by Joel Kotkin, “The crisis of the ‘Gentry Presidency'”. An excerpt:The Obama administration’s belated attempt to address the looming employment crisis — after three years focused largely on reviving Wall Street, redoing health care and creating a “green” economy — reflects not only ineptitude but a deeper crisis of what is best understood as the “gentry presidency.”[…][T]he major winners of the Obama years have been the big nonprofits, venture capitalists and, most obviously, the financial aristocracy. These have all benefited from the Ben Bernanke-Timothy Geithner — previously the Bernanke-Henry Paulson — policy of cheap money and near zero-interest rates, which have depressed the savings of the middle classes but served as a major boon to Wall Street. This has benefited mostly the wealthiest 1 percent, which owns some 40 percent of equities and 60 percent of financial securities.This Wall Street-first approach makes Reaganite “trickle down” look like a populist torrent.

  34. Trademark Litigation

    “It’s a very simple equation,” Boehner said in a speech to the Economic Club of Washington. “Tax increases destroy jobs. And the joint committee is a jobs committee. Its mission is to reduce the deficit that is threatening job creation in our country.”The committee – a group of six Democrats and six Republicans from both chambers – met privately Thursday morning.Earlier in the day, a bipartisan collection of senators informally calling themselves the “group of 36,” urged the panel to seek $4 trillion in deficit reductions, far more than the $1.5 trillion called for in their mandate.

    1. fredwilson

      if we cut taxes, we also need to cut spending or else we are spending money we don’t have

      1. JLM

        The first thing is to cut spending and not to touch taxes.While it sounds like treason, I would support getting rid of a handful of tax preference items with a careful look at anything enacted in the last ten years.I would eliminate capital gains tax completely — why? — nobody has any meaningful capital gains anyway!

        1. fredwilson

          except me!

        2. leigh

          flat tax flat tax flat taxps.  sadly no one will vote anyone into office it seems unless they lie and say they will cut taxes or not add any taxes.  In Toronto, we have this new idiotic mayor who got voted in on the notion of a “gravy train” he was going to “stop” and then he found out, well, there wasn’t one.  Now we have the police and fire services saying, “hey we aren’t gravy – don’t cut us” and we have Margaret Atwood getting into with the Mayor saying “libraries aren’t gravy” etc etc.  Everyone wants everything and anyone who tells them the “reality” gets the boot 

  35. William Mougayar

    I’m re-reading all the comments, and there is so much good stuff, ideas, facts and suggestions,- it’s mind blowing that all was generated in less than 24hrs. If I was Obama or one of the other candidates, I would pour over this data here, as that’s the reality & you can’t escape reality in order to solve something at its roots.

  36. William Mougayar

    Very good reading: What could America be good at?…

  37. leigh

    hey @disqus:disqus it seems everyone’s profile says “welcome back stranger” which is very film noir but feels like a bug to me 

  38. Raphael

    Fred,I recently read about you and B Sabet quitting the board of twitter.Why ????As an early investor, you might have a preferential right over the other investors (equity claim on cash-flow and control right). How does it affect the valuation of your investment ?In general, can you tell us more about these types of preferential rights (you might have already blogged about it). I am writing a student blog in France over the Financing and valuation of Internet Startup.Thank you for being so clear and transparent! 

    1. leigh

      Hey R…i Love student blogs.  What’s the url and your last name so i can flip on over and have a read?  🙂

      1. Raphael

        Hello Leigh. My blog is it’s written in french so I hope you’re proficient ^^. I might translate it soon.This blog is a platform for writing my master’s thesis.By the ways, there is no VC community in France, because there is no exit market ! Sad story for an old country…Raphael FAUCHET 

        1. leigh

          cool thanks.  my french is so so but i can usually get the general gist of something……would be great if you translated your thesis to English — I’ve gotten some great insights and frameworks from students over the years.  All that time just to “think”  🙂

    2. fredwilson

      i do not plan to talk about this right now. i may at some point in the future

  39. Peter Beddows

    In yet another perfect example of why we are losing jobs instead of creating more jobs: This example surely would leave only the most deranged unable to fathom that something is now truly rotten – not only in Denmark per Hamlet and the old Shakespearean saying – but actually right here in America. We have truly lost our marbles.U.S. Manufacturer Loses Veterans Administration Contract to China :: TV Ears Blog

  40. Guest

    Your approach, Donna, is surely a perfect example of a process based upon not “what they or you know” but “who they or you know” ~ based upon personal relationship development rather than anonymous, amorphous data presentation.Isn’t that why you get the high fee’s to which you are very entitled for performing the truly “experienced personnel professional” services that you do that the typical HR Recruiter has neither experience nor skill in understanding, never mind actually being able to accomplish what you do.

    1. Donna Brewington White

      Thanks @PeterBeddows:disqus  — I recognize you even as “Guest” (and understand the Disqus snafu that resulted in the Guest “alter-ego”.  

  41. Donna Brewington White

    1. Peter Beddows

      Not exactly. I “liked” your reply to Mark Slater”the really important stuff starts the moment the candidate walks in the door”Well, yes — sort of,”and then proceeded to add my own reply and clicked “post comment” as usual.However, the “usual” did not happen. First DISQUS gave the message “Just a moment” but after a very long pause, it seemed that Firefox was no longer responding. So I refreshed FireFox which then revealed my reply to you as if it was actually a new message with no connection to your message.So I went to my DISQUS Dashboard where I noticed your message was now flagged as “This comment is awaiting approval”. I deleted my reply message from within DISQUS and it then appeared as a message in AVC from “Guest” unconnected to anything. Evidently there is no way to remove my now orphaned reply from the AVC stream but it is no longer showing in my DISQUS Dashboard.I can only conclude that between us we have succeeded in unintentionally uncovering a bug in DISQUS. Very sorry about that Donna but software is buggy: I did not go near the “flag” button. Sh… happens and I apologize for whatever part I played here.I guess this is something for Daniel Ha to become aware of?

      1. Donna Brewington White

        At the risk of my vanity being too transparent, yes, will you email that to me.  dwhite AT bwasearch DOT com.  Peter — it’s so funny — I saw that “guest” comment and thought “that sounds an awfully lot like Peter.”  Thanks for the kind words.  Once again.And regarding those “high fees” they don’t seem so high considering how hard the work is.  But, of course I love it.  Although maybe I should put my resume on Indeed to see if I get a better offer!  Haha!

  42. Donna Brewington White

    Was someone trying to “like” my reply to @LE:disqus and accidentally “flagged” it?  ;-)Then, my recent reply to @markslater:disqus just completely disappeared!!!Some of my best work, too.Edited: Comment re Disqus no longer relevant.

    1. Donna Brewington White

      That was meant to be  @a3d2a690c882556468add2fdc643018a:disqus not @le:disqus 

      1. Peter Beddows

        At the risk of causing further consternation Donna, please refer to my preceding reply to you about your preceding posted question about what happened.

    2. Peter Beddows

      Yes it was some of your best work Donna 🙂 I can still read it in my DISQUS Dashboard. Want me to copy it or can you access it?

  43. Donna Brewington White

    Much better @Disqus:disqus ! Now you’re cooking with gas!  (new badges)But the styling that you had the other day — that was hot! Can you still do that or are the titles too long?

  44. Guest

    Job openings are at a 4 year high…the problem is that the workforce isn’t skilled enough to fill the jobs.  Retraining is what we should be focused on.IMO there are way too many startups wasting time trying to solve the “better job search” problem.  If I had a dime for every sales call I get about a new startup who can find me better people faster and cheaper…I’d be retired.  Indeed has solved it at scale.  All Jobs…One Place.  Game over…for now.Indeed is my #2 source of hire for a cost of exactly ZERO dollars this year.  

  45. Wayshuba

    I agree with the first paragraph of this post – we have a job problem and need entrepreneurs and private industry to solve it. An understanding of standard business cycles confirms that governement won’t be able to do much. Only when private industry moves forward will governement then follow. We are experiencing a structural shift (rather than an economic one) in the underlying employment structure driven by globalization, IT and increased moblility. That being said, while the service is commendable, it is against what 77% of the market wants. I guess it could be argued that it at least applies to 23% of the market. I guess this could be a topic for a deeper discussion another time. 

  46. Mike R Vosters

    A company that I’ve been monitoring lately is based out of the UK. It does a complete experience and personality analysis match for each position and candidate and then sends the employer a short list of the top candidates. Really impressive in all regards. Highly recommend checking it out.

  47. Dave Pinsen

    Indeed I do: Dr. Howard Richman on the benefits of a scaled tariff (a tariff on a trading partner that progressively declines to zero as the trade deficit with that country declines).According to the authors, a scaled tariff would be allowed under WTO rules (a quick glance at the rules the authors link to suggests that may be a matter of legal interpretation). One thing seems clear though: when what we’ve been doing hasn’t been working, it’s worth at least considering some different policies.

  48. Dave Pinsen

    For those who don’t want to want through that American Thinker piece I linked to, here’s Howard Richman’s tl;dr version: Why Obama’s Job Speech Failed”.

  49. JLM

    Add full funding of SBA loan guaranty program — a GUARANTY program not cash — and increasing the loan limits while increasing the guaranty to 100% for the top 25% of SBA originators.I believe this single action would trim unemployment by 1% all by its self.

  50. fredwilson

    the usv jobs page says that our portfolio is currently hiring 675 positions across 33 companies in 43 cities



  52. JLM

    All of these economic policy issues are connected as a cohesive fabric.Tax policy, trade policy, monetary policy, job outsourcing policy, regulatory policy, energy policy, lending policy, currency exchange rate policy — taken with the regulations which enact policy, they either unleash or constrain the job creating engine of the Nation.You have to look at the results to determine the efficacy of the total fabric.  When jobs are NOT being created, you have to do something to nudge the market in the right direction.Governments cannot create jobs but they can create the environment for jobs to be created.The areas I think are most overlooked today are trade balance, currency exchange rates and the continuing extension of unemployment benefits.

  53. fredwilson

    hot bread kitchen is also doing this exact thing in harlem gotham gal is very involved in hot bread kitchen as a board member and supporter

  54. JLM

    Great stuff and the kind of “God helps those who help themselves” empowerment which captures the true American spirit.Well played!

  55. andyswan

    I’d say earlier but we’re on the same page.

  56. fredwilson

    we cannot and will not comment on rumors

  57. Donna Brewington White

    Good try.  I’m guessing we will hear something soon enough. 😉

  58. fredwilson

    your comment is fine. i just want to be clear that this is a rumor and we will not discuss it.

  59. Carl J. Mistlebauer

    All I know is I hope the story is true, and want to see you raise a billion dollars!  I would love to see this country awash in new ideas, start ups, and entreprenuers…I may be an old economy guy, but I love the excitement, the enthusiaism, and the taking the bull by the horns mentality of innovation and folks who think outside the box.My professional career has been one where I have always been surrounded by folks who always asked “Why?” while I always asked “Why Not?”I may not see the value of alot of the new ideas but I can respect the thought and the effort….

  60. JLM

    This is easily the worst credit market I have ever seen to the point that there is opportunity created by simply having the capital to be able to move.

  61. JamesHRH


  62. JLM

    In about a year, we will look back w/ fondness at September of 2011.  It is going to get a lot worse.Do you remember the election of 2008 when the candidates tried to outdo each other describing how shitty the economy was?They can’t help themselves, the Republicans will have us all seeing the boogie man at our door and blaming it on Obama.Obama will not be able to counter their arguments as the results speak for themselves and he will spend all his time blaming GWB and the Republicans in Congress and the Tea Party.The public will, as in 2008, believe it all and the economy will likely tank.

  63. andyswan

    No, I mean earlier than 2001.

  64. JLM…Take a look at the above and see a fair analysis of the growth in population, the number of jobs created, the breakdown of government v non-farm employment and you will see that the growth is quite healthy and is NOT what Perry critics would want you to believe.I will not even editorialize — so that you are not guided to any conclusion and can make your own — as the results are so conclusive.The record is a damn good one.

  65. Guest

    That rule is not just for startups though. Every company tries (and in the great cases do) hire the very best they can get. Thanks Charlie for replying while I was in meetings. Correct; it is only a net new job if then the employer who had their employee “poached” can replace. Otherwise it is shuffling deck chairs … no matter it be a luxury yacht or the Titanic.

  66. Donna Brewington White

    I’m with you, Carl.  I say, USV bring it!

  67. Peter Beddows

    To witness in support of that comment Carl, your recent blog: “Sometimes what appears as the most risky ends up being the least risky”

  68. Donna Brewington White

    hmmm… last time there was a rumor like this, you also added a new partner.Congratulations on adding Andy Weissman.  Not that this means that the fund rumor is true…But if it is true, well, bring it, USV!  And wow.

  69. fredwilson

    i can comment on Andy. we are thrilled and very fortunate to have him at USV