Ben Zweig

Personally, I think I'm not quite sold on that yet because we're not seeing so much substitution.

Like we're not seeing enough substitution that you would think would result if that were the main effect.

I think what we're also seeing and what's conflating this result a little bit

is that there's a lot of uncertainty in the labor market, partially due to AI, partially due to policy.

But I think as a result, employers have a kind of high discount rate.

They're optimizing for the short term more than the long term.

And young workers generally, entry-level workers, are workers that are more uncertain.

You know, they require more of an upfront investment, and, you know, maybe they'll work out, maybe they won't.

So it's a kind of high-risk, high-reward type of bet, whereas more experienced hires are the safer bets.

So if someone's just looking to optimize for the short term, I think they'll generally favor more experienced workers.

We started Revelia Labs with the goal of producing high quality data that can be used for any downstream, you know, analyses.

And right now we are not seeing government data.

You know, the BLS hasn't put out their employment data in over two months.

The government's been shut down and there's a lot of turmoil there.

UK public employment data is not fantastic either.

I think what we're really trying to do is kind of start from very micro level data.

So actual individuals, you know, try to understand like the actual firm dynamics at any given company.

And then aggregate that up globally.

That's exactly right.

Yeah, we start at the micro level data.