#36 - What's happening at Open AI?
And more interesting updates...
What’s been up in the world of tech and talent lately? What has the market abuzz?
In this week’s newsletter, we will dip into some hot news that riled up everyone’s feeds and how the talent market is changing.
Let’s dig in!
What is happening at Open AI?
Saw a meme earlier that said “Funny how the first job that AI took was Altman’s”.
Unless you’ve been living under a rock, you already know that Sam Altman (Co-founder & CEO of Open AI) was fired by the board for lacking “transparency”.
But wait - He’s back? And he’s firing the existing board? And Satya Nadella is now calling shots? What is happening?
TL;DR - Sam Altman was fired for insufficient transparency which led to a snowball effect with Satya Nadella offering to hire Sam at Microsoft and the people of Open AI threatening to leave if the board didn’t bring Sam back. Why? Well, that’s a long story!
I found this article by The New York Times that sums it up pretty well. Check it out!
Strategic Tactics: How Companies Slash Hiring Costs and Optimize Talent Acquisition
In the dynamic landscape of talent acquisition, companies are strategically reducing their average cost to hire through innovative approaches. HMD Global, for instance, achieved a 60% reduction in hiring costs by leveraging an internal data bank and social hiring platforms such as LinkedIn.
Similarly, Aye Finance adopted a lean hiring engine, minimizing partner involvement, utilizing social media for over a third of their talent pool, and conducting cost-effective walk-in interviews, resulting in a 10% reduction in hiring costs.
How are other companies doing it? Check out this article by ETHR that talks about a lot more companies including BeBetta, Anthology, and more.
Btw, Cutshort can help you cut hiring costs too and close your roles at 1/3rd the cost - All you have to do is start hiring via Lightning⚡️. Check it out here.
That’s all the updates we have for you this week. See you in the next newsletter with more exciting updates!