Meta is rescinding intern offers, which offers were for 2023 start dates.
This is a first in the history of the company as far as I'm aware.
My sources are both interns whose offers are rescinded, and employees within the company who were made aware of this rescinding happening.
Not terribly surprising given Meta did not extend new grad offers to most 2022 interns. Internships are a recruitment tool at Big Tech.
Rescinding these offers suggests that 2023 will, indeed see little hiring at Meta. You stop hiring interns if you're pretty sure you won't have HC to offer them to return a year later (or you're not 100% you'll have it).
THIS is the first in the history of the company in tech.
The intern offers rescinded were extended in April 2022 for the London office, interns due to start as early as Jan 2023.
Interns got the notification that they won't start. Note that 2023 US intern interviews have not yet started and no such intern offers are out as such.
These interns in London typically graduate summer 2023. Rescinding these intern offers suggest they would have not gotten return offers in 2023, which is in line with how 2022 US interns mostly did not get 2023 return offers.
Update: Meta is paying 1 month in compensation for interns whose offers was rescinded (previous tweet was wrong on 3 months, deleted & reposted this) This is a nice gesture.
I’m gathering more details, talking with sources.
One of the impacted interns (posted with permission).
Meta’s intern hiring bar is high and all interns left hanging would more than likely be fantastic hires pretty much anywhere.
3. The final straw was when I asked Plato to donate my “take rate” to a charity.
The company made it clear they won’t do this. Their business model is that they pay mentors nothing, charities nothing, and charge mentees $399/month ($349/month if paid annually).
Brilliant setup.
The good thing about Plato is that b/c mentees pay (a lot!) they show up most of the time. I had no shows about 1 in 4-5 times (which was always frustrating: remember, I did this for free!)
They also seemed to have hired a lot of admin staff which, ironically, slowed everything.
Amazon affiliates generated the most revenue, by far, for me. I only recommended books with this program (in fact, almost all my affiliates were on books I suggested).
Here's the summary over two years:
A way I optimized these links was using @geniuslink to redirect based on IP
I couldn't publish some of the very disturbing stuff that happened at Pollen should come to light. Other journalists are taking this on now, moving forward with some of these stories, also as a movie. If you're a current/former employee who wants to talk, DM and I'll connect.
I now understand why investigative journalism is difficult. I came across things that should be shared - but it's difficult to do without a publication armed to go to court if needed. I am still in disbelief how the company really operated.
One positive thing: whistleblowers are stepping forward. This story will not only be about the press, but about the authorities and about the founders and executives being held accountable based on law.
We'll hear more from Pollen - I'm forwarding the details I gathered.
A year ago, I started my newsletter and decided to use @SubstackInc. Today @Pragmatic_Eng crossed 175,000 subscribers.
A good part of my growth has been thanks to Substack. In a new post, Substack writes 40% of *all* new subs come from within the network: on.substack.com/p/growth
My newsletter growth. The inflection point where growth accelerated by 2x, around Apr 2022 and has stayed like that since?
That was Substack launching Recommendations, which now accounts for ~70% of new subscriptions. (I still send more recommendations to others than I receive).
Every now and then people ask if I've been paid/sponsored by Substack etc.
Heck no.
It's me who pays Substack what is becoming a ridiculous $ amount each month (10% of revenue). Never got any payment from them. I make good use of the growth levers they provide for everyone tho.
I am starting to become a lot more concerned for the prospects of new grads in the tech industry, *especially* bootcamp grads.
Hiring slowdowns and freezes impact this group disproportionately. When a hiring manager has fewer headcount, they are more likely to hire seniors.
Althought not a theme, there have also been layoffs where new grads seemed to be hit disproportionately. If any company sets headcount as the target for layoffs - not budget - then this will always happen.
Why let go a senior when you can say goodbye to a new grad instead?
While the past 2 years of COVID - and remote work - has been a boost for most tech companies, as well as for experienced engineers, because of remote work, fewer new grads were hired. So there's already more supply than in the past.