People here are saying that Carmack isn't really saying much (quantity-wise he's not) or giving their own personal anecdotes, but he's touching on information theory for imperfect markets.
Basically the employer and candidate screw up the signals to each other about buying/selling of labor today, and it creates costly overhead for both parties. In a perfect market, employers and candidates know everything about each other and quickly fill- or land-in the best possible positions (respectively).
Not sure if the startup he's promoting, or throwing in random population sampling, solves this problem though. Seems like the random sampling is only a temporary fix to uncovering missed positive signals in candidates.
Basically the employer and candidate screw up the signals to each other about buying/selling of labor today, and it creates costly overhead for both parties. In a perfect market, employers and candidates know everything about each other and quickly fill- or land-in the best possible positions (respectively).
Not sure if the startup he's promoting, or throwing in random population sampling, solves this problem though. Seems like the random sampling is only a temporary fix to uncovering missed positive signals in candidates.