01 Advisors

Exclusive news reported today in Axios: We’re announcing our $40M Series B—led by StepStone Group, with participation from HighlandX and existing investors Accel, Index Ventures, 01 Advisors (01A), Script Capital, and South Park Commons. Our mission? Fix privacy for the enterprise. Read the full Axios piece at the link in the comments. #privacy #funding #seriesB

🔥 OG + 01A Happy Hour Recap 🔥 What a night at 01 Advisors' digs in San Francisco! We had the pleasure of hosting our OG Members and the crème de la crème of San Francisco's operators for a chill happy hour. The highlight: A fireside chat with Adam Bain, co-founder of 01 Advisors and Twitter's former COO Takeaways and Moments: 1️⃣ AI Hallucinations: Use another AI to conduct double blind tests on the first AI to quality control. 2️⃣ Customer Support + AI: One of the biggest areas for AI to create immense efficiency and value $50B+ per year … today 3️⃣ Data is a moat.. or is it? Companies are now able to take a kernel of data and “grow” their own synthetic datasets. 4️⃣ Strategy > Tacticians: The future of highly paid jobs and skills is in the multi-disciplined operators, less so vertical specialists. Operators Guild may know something about that 🙂 The conversation with Adam provided profound insights into where the market might be heading and the strategic pivots that could define the future of business and operations. A huge thanks to everyone who made it out and to 01 Advisors for hosting us in their epic space. Feeling inspired and ready to join a community of forward-thinking operators? 💡 Check out Operators Guild, where innovation meets execution👇. https://lnkd.in/gwHCAX5M #ai #operators

Are candidates put through too many interviews? 🤔 TL;DR: Frequently, yes. This matters. It impacts candidate experience & hiring efficiency. 🐢 Our data suggests each extra interview lowers funnel conversion materially. For example, moving from a 5-interview loop to 6 lowers the candidate hire rate by ~15% and moving to 8 interviews lowers it by 38%. We analyzed 1,300+ positions to benchmark length of interview loops. 🕔 Overall, orgs avg 5.3 interviews per loop, 214 minutes of interview time. Let’s dive deeper 👇 1️⃣ Over half of the positions had 4 - 6 interviews in a loop 2-3 interviews = 21% of positions analyzed 4-5 interviews = 34%  6-7 interviews = 30%  8-9 interviews = 11% 2️⃣ The number of interviews in a loop varies widely by function Product 6.2 (avg), 6 (median) Marketing 5.5 (avg), 5 (median) Engineering 5.3 (avg), 5 (median) HR/TA 5.0 (avg), 5 (median) Sales 4.8 (avg) 5 (median) CS: 4.8 (avg), 4 (median) 3️⃣ The total interview time is also vastly different by function Product: 266 minutes (avg), 240 (median) Engineering: 237 minutes (avg), 225 (median) Marketing: 215 minutes (avg), 210 (median) HR/TA: 201 minutes (avg), 180 (median) Sales: 198 minutes (avg), 210 (median)  CS: Avg: 184 minutes, median: 195 minutes 4️⃣ Remember, only a portion of interview time is spent assessing! We analyzed a sample of 100+ loops to break down how interview time is spent: Candidate evaluation = 70% of the interview Candidate selling = 23%  Small talk = 8% 5️⃣ So effectively, the assessment time per candidate is lower, use it wisely! CS = 127 mins spent on assessment  Sales = 137 mins HR / TA = 139 mins Marketing = 148 mins  Engineering = 164 mins  Product = 184 mins 6️⃣ We also looked at interview loops for some common roles: Sales Account Executives: Avg: 4.3 interviews, median: 4.5 interviews Software Engineers: Avg: 5.1 interviews, median: 5 interviews 7️⃣ Senior & non-senior roles: similar # of interviews, but different lengths: Senior roles: Avg: 5.4 interviews, 225 median minutes (223 avg) Non-senior roles: Avg: 5.2 interviews, 210 median minutes (213 avg) 8️⃣ We compared 2023 vs. 2021, the results are confounding... In 2023 the avg # of interviews in a loop was 4.4 interviews… compared to 5.6 interviews in 2021... for the same orgs.... not sure what to make of this. ❓ Questions * How does this stack up to your interview loops? * How many interviews are too few vs. too many? * Is 2-3 hours of assessment time enough if interviews are run well? * Why did interview loops *shorten* from 2021 to 2023? Add your thoughts 👇👇 CC Hung Lee Joel Cheesman Amy Schultz John Vlastelica Chad Sowash Meg Bear Kevin W. Grossman, TAS, HCS Gerry Crispin Debbie McGrath Pat Wadors Lars Schmidt Laszlo Bock 🎩 Major hat tip to Sarah Bell, William Leeds, Will Decker for the analysis! #talentaquisition #interviewtips #peopleanalytics #candidateexperience

Last summer, Saturn reached the top of the App Store charts—and stayed there. This is incredibly rare. As I dug in and chatted with the founders Max Baron and Dylan Diamond, I was blown away by how methodically they were able to articulate what it takes to build a viral consumer app (particularly one targeted at Gen Z). In today's newsletter, Max and Dylan share an in-depth case study of what it takes to build a viral consumer app. I spend most of my time looking for patterns across many successful companies, but often you can learn more by studying a single example in depth. This is an excellent example of the latter. Lessons: 1. Embracing single-player mode as a wedge for social products 2. Building a product that users feel was built just for them 3. Why it’s OK to be unscalable—you can make it scale later 4. Building a familiar product is much easier if you’re solving a problem you’ve experienced 5. Playing the long game https://lnkd.in/g-jh_b-h

We are excited to announce our $20 million Series A extension led by Acrew Capital 🎉 Our existing investors 01 Advisors, HighSage Ventures, Abstract Ventures, Partech, Precursor Ventures, Potluck Ventures (Backing AAPI Founders), and Knollwood Investment Advisory also participated in the round 🙌 Nomad Homes is a software-enabled marketplace for residential real estate across Europe and the Middle East (EMEA). We are creating the infrastructure to make home ownership simple and efficient by empowering agents to collaborate with one another. We are live in France, Spain, Portugal, and the UAE. You can read more about it in the exclusive with TechCrunch by Christine Hall! https://lnkd.in/dAiRZ9Bn #startup #proptech #fintech #technology

🚨ANNOUNCEMENT🚨 We're thrilled to announce heavyweight boxing legend, Mike Tyson, as the keynote speaker for the first-ever BuildOps Forge Annual User Conference. Mike Tyson is widely considered one of the greatest heavyweight boxers of all time—reigning as the undisputed world heavyweight champion from 1987 to 1990. “I’m thrilled to be partnering with Alok and BuildOps,” said former heavyweight champion, Mike Tyson. “It’s exciting to see a great company that actively serves the real unsung heroes, the men and women of the trades. I have always wanted to lend my voice to encourage more people to join the trades, and with BuildOps on a similar mission, the possibilities are endless. I can’t wait to meet the larger BuildOps community and look forward to growing our new partnership.” The BuildOps Forge Conference, open exclusively to BuildOps customers, will bring together industry experts, thought leaders, and service professionals from across the country to discuss the latest industry trends, product innovations, and best practices related to the BuildOps platform, including the latest advancements in BuildOps AI. You can read the full press release here: https://lnkd.in/eXfd_tvW We hope to see you all there! #BuildOps #BuildOpsForge #Conference #Commercialcontractor #MikeTyson