Rod Danan explains Prentice's mentorship requirements and internship compensation model to Nathan Latka.
Insight
Danan: Sourcing bootcamp talent is easy due to urgent entry-level demand
“So on the unsupply side, like, it's actually kind of easy because, you know, a lot of boot camp grads, they come out and getting that first job is really tough because they don't have experience. So they're all looking for this. There's a lot of supply.”
Disclosure
Danan funded failed startup with 401(k), savings, and credit cards
“It was for one K was savings from my other, my previous job. And then also a lot of credit card debt, which I do not recommend knowing that.”
Disclosure
Danan: Spent $90k on contractors and employees for failed first startup
“In total. I spent 90 K between contractors and then employees and, you know, kind of went down the drain, but it was lessons, you know, all that put me on the path to build this.”
Disclosure
Prentus charges $1,500 upfront and $1,500 upon permanent hire
“So we do intern to perm basically as the goal. So a business comes to us, they pay for the hiring fee, you can call it. It's per intern and we charge 1500 dollars for that. And then they work it up for three months. And if they want to hire the intern, then yo…”
Disclosure
Prentus raised placement pricing from $100 to $1,500
“Well, so we built up, like, I initially, the first company was a hundred dollars. You know, we're just trying to get, you know, internships started. That way we can get testimonials, which will boost revenue in the future. And then from there, we went to four …”
Assertion Not checkable as stated
Eight paying companies have used Prentus
“It's been eight companies now.”