Y Combinator Startup Podcast #27 - The CEO Who Pays Employees to De-Locate From the Bay
6 snips
Aug 18, 2017 
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.
AI Snips
Chapters
Transcript
Episode notes
Delocation Boosted Zapier Hiring
- Zapier's delocation package raised job applications by about 30% and attracted candidates globally, not just from the Bay Area.
- Offering $10,000 to move out of an expensive city revealed hidden demand for remote work freedoms.
Start Remote to Thrive Remote
- Starting a company fully remote helps build strong documentation and communication habits essential for remote success.
- Transitioning established teams to remote work is challenging without these foundational practices.
Remote Management Essentials
- Define clear company values that fit remote work, such as default action, good writing, transparency, and empathy.
- Adopt proven management frameworks to ensure consistent, high-quality leadership across remote teams.