That Will Never Work #8: The Business of Being Unemployed
Apr 27, 2021
Adriel shares his journey of launching Riveter, a service designed to aid the unemployed, which was catalyzed by his own layoff during COVID. The duo explores innovative monetization strategies, including a shift to an advertiser-sponsored model. They discuss the evolving needs of job seekers, the pivotal role of community in Riveter's approach, and how to effectively target small businesses for outreach. The conversation emphasizes rapid experimentation and the balance of supporting both users and companies in this sensitive landscape.
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Founder Got Laid Off And Went All In
- Adriel lost his job two weeks into building Riveter and doubled down on the idea to help unemployed people.
- He reframed unemployment as time for growth, fitness, and exploration rather than just a crisis.
Advertisers Will Pay For Unemployed Audiences
- Advertising sponsors can fund free services for unemployed users because companies want access to that audience.
- Unemployed people unexpectedly spend on career, education, and fitness services when trust and discounts exist.
Trust Is Required Before Charging Users
- Vulnerable users have a high bar for trust and won't pay until they trust the provider.
- Building credibility with unemployed people is essential before charging them for services.
