Curated Intel from the Talent Tech Industry
February 7-13, 2022:
• Taking their ball & going home: Meta may close Facebook & Instagram in Europe over data dispute;
• Here’s one solution to a tight market: Tech talent shortage Is helping drive more M&A deals;
• Taking SMEs to a new level: Recruitment platform Manatal raises $5.1M to expand globally;
• One small step for a machine, one giant leap for machinekind: AI now does life-long learning;
• A brave new world: Workers flee Google & Amazon for crypto and Web3 startups;
• Don’t miss the only conference specifically designed to promote the success of companies offering talent technology solutions – job boards, ATS companies, CRM platforms, recruitment marketing & advertising agencies, programmatic platforms, AI solutions and more – TAtech North America & The World Job Board Forum. Early Bird registration is now available.
Meta may shut down Facebook and Instagram in Europe over data-sharing dispute with EU
Meta has said it is considering shutting down Facebook and Instagram in Europe if it can’t keep transferring user data back to the U.S. The social media giant issued the warning in its annual report last Thursday. Regulators in Europe are currently drawing up new legislation that will dictate how EU citizens’ user data gets transferred across the Atlantic. Facebook said: “If a new transatlantic data transfer framework is not adopted and we are unable to continue to rely on SCCs (standard contractual clauses) or rely upon other alternative means of data transfers from Europe to the United States, we will likely be unable to offer a number of our most significant products and services, including Facebook and Instagram, in Europe.” The company added this “would materially and adversely affect our business, financial condition, and results of operations.”
Tech Talent Shortage Is Helping Drive M&A Deals
A shortage of information-technology workers is prompting some companies to buy firms for their employees, a strategy that is helping drive up the number of merger-and-acquisition deals across the IT and business-services sector, industry analysts say. Employers last month posted roughly 340,000 unfilled IT job openings, 11% higher than the 12-month average, spanning a range of positions, industries and locations, IT industry trade group CompTIA said in an analysis of Labor Department employment data reported Friday. “With the persistently tight labor market for tech talent, an ever-greater number of companies are willing to put all options on the table, including M&A,” said Tim Herbert, the group’s chief research officer. While M&A has traditionally been deployed as a growth or competitive strategy, Mr. Herbert said, “segments of companies now see it through the lens of talent acquisition.”
Recruitment SaaS platform Manatal raises $5.1M in funding to transform hiring globally
Recruitment and onboarding SaaS platform Manatal announced they have closed $5.1 million in seed funding from Sequoia India's Surge alongside angel investors. This funding round comes as the company is quickly scaling. They have placed close to 100,000 people in jobs since 2019 and are used in over 130 countries. Revenues have grown 3x every year. The fresh funds will be channeled into engineering as the startup looks to enhance their product offering and AI-recommendation engine in the following months. Thousands of SMEs, tech companies and startups have joined Manatal as it aims to become the leading recruitment platform for millions of SMEs while ensuring the highest security and confidentiality with user data.
The brain’s secret to life-long learning can now come as hardware for artificial intelligence
When the human brain learns something new, it adapts. But when artificial intelligence learns something new, it tends to forget information it already learned. As companies use more and more data to improve how AI recognizes images, learns languages and carries out other complex tasks, a paper publishing in Science this week shows a way that computer chips could dynamically rewire themselves to take in new data like the brain does, helping AI to keep learning over time. "The brains of living beings can continuously learn throughout their lifespan. We have now created an artificial platform for machines to learn throughout their lifespan," said Shriram Ramanathan, a professor in Purdue University's School of Materials Engineering who specializes in discovering how materials could mimic the brain to improve computing.
Silicon Valley is no longer the edgy tech frontier as workers flee Google and Amazon for crypto and Web3 startups, recruiters say
Just a couple of years ago, landing a job at Uber or Twitter was like striking gold.
And while that still may be the case for plenty of aspiring tech workers, another space is encroaching on Silicon Valley's position as the hottest place to be: Web3.
Eight tech recruiters told Insider that they're seeing a significant trend of high-profile executives and developers leaving established firms to cryptocurrency and other decentralized tech ventures as the once-fringe startups elbow their way to the forefront of the industry.
"We are unquestionably seeing some of the best and brightest of Silicon Valley, or tech, move over to crypto," Scott Fletcher, whose firm Intersection Growth Partners has pulled several "very senior folks" out from Amazon, Meta, and Google, told Insider.
TAtech North America & The World Job Board Forum
There are lots of conferences about HR best practices and HR technology, but only one that is specifically designed to promote the bottom-line success of companies offering talent technology – job boards, ATS providers, CRM platforms, recruitment marketing & advertising agencies, programmatic platforms, AI solutions and more – and that’s TAtech North America & The World Job Board Forum. It will be held on May 31-June 2 in Austin. Featuring the TAtech Deal Center, this one-of-a-kind conference offers an unequaled opportunity to forge partnerships and alliances, check out new products in the market, discuss job seeker and employer trends and more. Plus, Early Bird registration is now available, so if you act fast, you can also save money in the process.