One In, One Out: A Look at Startup Hiring

In this special solo episode of The Data Minute, host Peter Walker dives into the data from Carta's latest research on the state of startup hiring. With hiring down month-over-month since 2021, Peter unpacks the trends that every founder, operator, and investor needs to understand.

Using five key charts, Peter breaks down the current talent landscape: the shrinking gap between layoffs and voluntary departures, the reality of net headcount growth, and the "one in, one out" philosophy that's defining today's hiring environment. He also explores how these trends differ by industry and which roles are still in high demand.

Is this slowdown a temporary blip or the new normal in an age of AI and hyper-efficiency? Get the data-driven answers in this can't-miss deep dive.

State of Startup Compensation: H1 2025:
https://carta.com/data/startup-compensation-h1-2025/

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Explore interactive startup and VC data, with Carta’s Data Desk: https://carta.com/data-desk/

00:00 – Intro: A deep dive into startup hiring
01:19 – Chart 1: Voluntary departures vs. layoffs
02:28 – Why the current ratio is so unusual
03:20 – Chart 2: New hires vs. total departures
04:22 – Is the startup ecosystem shrinking?
05:16 – Chart 3: Net headcount change over time
05:56 – The "one in, one out" hiring philosophy
06:38 – Chart 4: A breakdown of hiring trends by industry
07:52 – Chart 5: Who is actually getting hired?
08:17 – Is AI really replacing engineers? 
08:54 – Final take: Why small, efficient teams are here to stay

This presentation contains general information only and eShares, Inc. dba Carta, Inc. (“Carta”) is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services, and is for informational purposes only.  This presentation is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. © 2025 eShares, Inc., dba Carta, Inc. All rights reserved.