I've recently made an update to our Announcement on the future of Wytham Abbey, saying that since this announcement, we have decided that we will use some of the proceeds on Effective Venture's general costs.
I've heard people express the idea that top of funnel community building is not worth the effort, as EA roles often get 100+ applicants.
I think this is misguided. Great applicants may get a job after only a few applications. Poor applicants may apply to many many jobs without getting a job. As a result you should expect poor applicants to be disproportionately well represented in the applicant pool - hence the pure number of applicants isn't that informative. This point is weakened by recruitment systems being imperfect, but as long as you believe recruitment systems have some ability to select people, then I think this take holds.
I'm really only making a claim about a specific argument, not whether or not top of funnel community building is a good idea on the margin.
H/T Amarins for nudging me to post this
Agreed – my favorite "acceptance rates aren't that meaningful" stat is that Walmart is much more selective than Harvard.
I strongly agree that the reasoning "top of funnel community building is not worth the effort, as EA roles often get 100+ applicants" is misguided. But I think the argument about many applicants being "poor applicants" because they get rejected more often is not that important compared to other reasons.
Here are 3 reasons that I think are much more relevant:
Less relevant to your main point, but I strongly want to urge readers against "poor applicants get rejected often" kind of reasoning. I see it very often in this community and I think it's greatly overrated. Some relevant links and thoughts:
This is already super long, but I also want to quickly note that 7.3% of EA-survey-respondents are from one city, which seems to indicate that there might be lots of opportunities for top of funnel community building.
Other examples in this great comment of yours.
I've heard people express the idea that top of funnel community building is not worth the effort, as EA roles often get 100+ applicants.
I think this is misguided. Great applicants may get a job after only a few applications. Poor applicants may apply to many many jobs without getting a job. As a result you should expect poor applicants to be disproportionately well represented in the applicant pool - hence the pure number of applicants isn't that informative. This point is weakened by recruitment systems being imperfect, but as long as you believe recruitment systems have some ability to select people, then I think this take holds.
I'm really only making a claim about a specific argument, not whether or not top of funnel community building is a good idea on the margin.
H/T Amarins for nudging me to post this
Agreed – my favorite "acceptance rates aren't that meaningful" stat is that Walmart is much more selective than Harvard.