A Notable Update On The IPO Landscape with Jeff Richards + Funders x Founders with Handshake’s Garett Lord | Okay, Computer.
Apr 10, 2024
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Jeff Richards of Notable Capital discusses AI valuations, interest rate impact on investments, and the resiliency of the 2024 IPO class. Garett Lord of Handshake talks about the company's origin story, comparison to competitors like LinkedIn, and revolutionizing the college-to-career transition for students.
AI valuations may be adjusting to realistic levels, potential headwinds in the market
Handshake offers personalized career guidance with AI, revolutionizing college-to-career transition
Equalizing job opportunities for students, Handshake's impact on democratizing career paths
Deep dives
Handshake: Bridging the Gap Between College and Career Opportunities
Handshake, a company founded by Garrett Lord, aims to address the opportunity gap in career navigation faced by students transitioning from college to the workforce. Growing up in a working-class family, Garrett experienced the challenges of breaking into financial opportunities and jobs without established connections. Handshake's mission is to provide equal access to career opportunities and vital career path information for students across the socioeconomic spectrum. The platform has become instrumental in helping college students find their first jobs, with nearly 50% of American college students securing their initial employment through Handshake last year.
Investor's Perspective: Notable Capital's Interest in Handshake's Vision
Notable Capital, led by Jeff Richards, invested in Handshake during its Series D round in the late 2019 or early 2020 period. Jeff was drawn to Handshake's vision and impact-driven approach to revolutionize the traditional college-to-career transition process. The company's focus on democratizing opportunities aligned with Jeff's interest in investing in companies that drive digital transformation and equalize access to resources. Jeff recognized Garrett's passion and vision to disrupt the industry by empowering students and reshaping the career search landscape.
Garrett's Personal Journey: Overcoming Socioeconomic Barriers
Garrett Lord's personal experiences growing up in a working-class family and navigating the challenges of accessing career opportunities inspired the creation of Handshake. Transferring from a community college to a four-year institution, Garrett witnessed the disparity in career readiness and job access among students from varying backgrounds. His encounter with these obstacles ignited the mission behind Handshake to bridge the opportunity gap and provide vital guidance to students in identifying and pursuing diverse career paths.
Handshake's Unique Approach to Career Navigation
Handshake stands out for its student-centric approach towards career navigation, focusing on discovery and inspiration rather than mere job search functionality. In contrast to incumbents like LinkedIn and Indeed, which primarily offer search-based job platforms, Handshake emphasizes guiding students through their career journeys. The platform facilitates opportunities for young individuals to explore diverse career paths, gain insights into different industries, and develop the confidence to navigate the transition from college to the workforce effectively.
Handshake's Impact on Career Development in Colleges and Companies
Handshake, a platform focused on connecting students and employers, has revolutionized the way college career paths are navigated. By offering a digital space for students to create profiles and connect with potential employers, Handshake has streamlined the recruitment process from physical campus visits to a virtual network. The platform's success lies in its ability to expand job opportunities beyond traditional recruiting boundaries, allowing students to showcase their skills and accomplishments, transcending the limitations of prestigious university backgrounds. Handshake's significant reach, with over 900,000 companies on board, including all Fortune 500 companies, demonstrates its pivotal role in reshaping the hiring landscape.
Empowering Students' Career Choices Through Handshake's Innovative Approach
Handshake's influence extends beyond conventional job hunting by focusing on personalized career guidance for students. By utilizing AI and ML technologies, the platform aims to provide a tailored career co-pilot, enabling students to make informed decisions about their professional paths. This approach is particularly beneficial for first-generation college students and individuals seeking career fulfillment. Handshake's commitment to fostering open dialogues and mentorship opportunities among students and professionals reflects its dedication to empowering individuals in choosing careers that align with their passions and aptitudes.
Dan is joined by Jeff Richards of Notable Capital about structural changes to the firm on top of the name change from GGV Capital (3:15). The guys also discuss Jeff’s view on the startup environment (6:05), AI Valuations May Be Coming Down To Earth (10:45), the interest rate impact on valuations and new investments (15:45), is the 2024 IPO class is more resilient than the last round (19:30), Adobe’s skid around a lack of AI (21:30), potential headwinds (32:30), AI as a tailwind for small business (37:30).
After the break, Dan and Jeff are joined by Garrett Lord, co-founder & CEO of Handshake. The trios discuss Handshake’s origin story (41:30), how Handshake compares to competitors like LinkedIn or Indeed (45:00), what drew Jeff to the company (46:00), how Handshake partners with academic institutions (49:20), what attracted Jeff to Handshake’s business model (51:40), the job market for college graduates (55:00), how technology has changed recruiting after college (57:30), the labor market (59:45), the student experience (1:03:30), evolving as a founder and CEO (1:05:30), what excites him about the future (1:09:30)
