The Reason Why $14.6B Klarna Stopped Hiring

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Careers, Business, Marketing

4.6 • 1.3K Ratings

🗓️ 31 December 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2892, Eric Siu and Neil Patel discuss employment due to AI, the future of TikTok amidst regulatory challenges, and the best SEO tactics for 2025. Don’t forget to help us grow by subscribing and liking on YouTube! Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT) TIME-STAMPED SHOW NOTES: (00:00) The Impact of AI on Employment (02:50) The Future of TikTok in the U.S. (06:02) SEO Tactics for 2025 (08:49) Global SEO and AI Integration (12:13) Growth Tactics for 2025 (15:05) The Importance of Brand Marketing (17:11) That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Leave Some Feedback: What should we talk about next? Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel X @ericosiu

Transcript

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0:00.0	14.6 billion dollar valuation Klarna has stopped hiring. Why is that, Neil?
0:06.4	I saw the post on TechCrunch. They decided that they can end up replacing a lot of people with AI,
0:14.2	combined with they just naturally have turnover. So their CEO said this.
0:17.6	Klarna CEO stopped hiring employees last year because quote unquote, AI can do most jobs and is down negative 22% headcount to 3500.
0:25.0	So the private Swedish buy now pay later companies worth 14.6 billion up from six-ish billion or so.
0:32.0	Sorry, my thing just time limit.
0:33.8	6.7 billion in 2022.
0:36.2	But down from 45.6 billion in 2021 is trying to go public next year. That's pretty
0:41.1	contrarian. But guess what they're hiring right now? It's almost like mostly engineers.
0:46.8	Yeah. Yeah, no, I think you're going to see more and more of this coming in the future. And I think
0:53.1	you got it spot on. I had other people tell me the other day, don't you think AI can just replace all the
0:58.9	humans within your agency? I'm like, it can replace some, but the people that are around and
1:02.8	embrace the technology, I'm like, they'll be more valuable and they're going to be more expensive.
1:06.3	And then you're going to have to pay for the say technology, probably as a business, it can help with margins,
1:15.8	but I'm like, you still need the humans in the loop and you need AI technology. You need both.
1:19.8	Yeah. Look, the ones that are actively learning, those are the ones that are staying ahead of the curve and those are the ones that are actually creating versus the ones that are just doing.
1:23.9	The humans that are just doing, they're at risk. That's what I believe. If you're just a doer long term, I think you're at risk. Yep. Yeah. So let's pick your, let's talk about
1:32.8	the Supreme Court ban with TikTok. Yes. What do you think is going to happen there? I'll
1:37.6	tell you what I think is going to happen there, but what do you think is going to happen there?
1:40.8	I, I think TikTok's still going to be around. So whether they have to divest or not,
1:47.2	like that's another story, but I think they're still going to be around. Yeah. And I think what's
1:51.0	going to happen is the U.S. is going to broker a deal with, you know, some sort of company to buy
	...

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