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Y Combinator Startup Podcast
#27 - The CEO Who Pays Employees to De-Locate From the Bay
Aug 18, 2017
44:58
Snipd AI
Wade Foster, CEO of Zapier, discusses their $10,000 relocation offer for new employees and its impact on hiring high-quality candidates. They explore winner-take-all markets and network effects, emphasizing the importance of connections. Advice for founders outside the Bay Area includes focusing on fundamentals and debunking the perception that the best companies are only in the Bay Area. Challenges of building a billion-dollar company in an untapped city are discussed, along with the importance of learning, taking risks, and finding experienced mentors for scaling.
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Quick takeaways
- Zapier's delocation package successfully attracted talented individuals interested in remote work from various locations, resulting in a 30% increase in applicants and 15 new hires with only one person from the Bay Area.
- Zapier's early adoption of remote work as its entire team operates remotely has shaped its success and created a strong organizational muscle for remote collaboration, leading to benefits such as effective communication, documentation, and a positive work environment with high employee satisfaction.
Deep dives
Zapier's Delocation Package
Zapier introduced a delocation package in March of 2012, offering $10,000 to new employees in the Bay Area to relocate. The goal was to attract talented individuals who were interested in remote work and wanted to explore opportunities outside of San Francisco. The delocation package generated significant buzz and resulted in a 30% increase in applicants to Zapier. Interestingly, most of the applicants were not from San Francisco, indicating that the offer had raised awareness and attracted talent from various locations. Ultimately, the package helped Zapier hire 15 new employees, with only one person from the Bay Area.
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