Falling Tech Stock Prices Create Downward Spirals That Ruin Hiring
Sam Lessin · #15: Instacart’s Fake IPO and Why Hiring in Tech Is So Broken · More or Less Podcast · Sep 22, 2023 · at 45:05
Sam Lessin pushes back on Dave Morin's view that public market price drops attract fresh capital and talent.
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“In practice. What actually happens a lot of time is price equals quality. So like the price goes down and then you can't hire anyone, right? Ironically, people want to work at like the thing where like you get all the job applications and the stock price is too high and none of it when the stock price is too high, too low. And so there's a really weird dynamic where like what you're saying is exactly what should happen. You should have a bunch of talent. That's like, I want to come in because the stock price is good. You have went to capital. It's like, I want to come in because the price is low, but actually in practice almost exactly the opposite happens, which is when it's low, you go lower. And when it's high, you go higher, right?”
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